- Life insurers may ask you to undergo a medical examination or tests for an accurate assessment of your current health
- Medical examinations are free and conducted either at your premises, or at a designated diagnostic center
- These tests help make sure that you do not miss declaring any important fact related to your health, which could otherwise impact claim process later
Not all life insurance policies require you to take a medical examination. However, if you are asked to undergo one, it is advisable that you take the medical examination. The need for a medical examination is based on the amount of life insurance cover you want to buy and the health information you submit to your insurer. Medical examinations are free for you and conducted either at your premises, or at a designated diagnostic center. The examination reports are shared with you as part of your policy document once the policy is issued.
Medical Examinations reduce the chance of claim rejection
One of the major reasons policy claims get rejected is that policyholders do not disclose complete details of their medical condition at the time of applying for a life insurance policy. In the absence of a medical test, you might unknowingly input incorrect or incomplete data about your medical condition, and this might be interpreted as "withholding of vital health information and non-disclosure of material facts." In simple terms, it will be a violation of terms of the contract where you had agreed with the insurer that you have not hidden any important fact related to your health.
The insurer needs to assess the risks associated with an individual before issuing a life insurance policy. A medical examination allows both parties to get a fair sense of the health condition of the life to be insured.
If in case a health concern is detected, you might be asked to pay a higher premium to avail the sum assured you are looking to buy. However, this is completely in your interest.
Your medical examinations can help you decide on features that you can add to your policy
After medical examination, if your reports show that your cholesterol level is high, you may think of buying a critical illness rider that covers heart disease, diabetes etc.
The Bottom Line
Very few insurers will provide a high sum assured without a medical test. Hence, it is highly advisable that you go for a health check-up, and then opt for an adequate life insurance cover that will help secure the financial future of your family.
In a case referred to the Ombudsman in Chennai, the insurer had rejected a death claim on the grounds that the life assured had been suffering from Acute Lymphoblastic Leukemia (ALL) which was not disclosed in the proposal form which amounted to non-disclosure of the material fact.
The deceased had been undergoing treatment for ALL since 2000 and he underwent Orchiectomy for relapse in 2003. However, he did not disclose this in the proposal form submitted in Dec 2005. The Ombudsman upheld the decision of the insurer because there was clear medical evidence to show that the deceased was suffering from Leukemia well before signing the application for insurance.
Get your medical tests done with the insurance company before buying a term insurance plan to avoid disappointments in future. You can connect with us to know more.