Picture this: You are buying an online term insurance plan. You have compared various plans and found one that matches your needs and budget. You fill out the application form and submit it. But then, you get a message from the insurance company saying you need to undergo a medical test before issuing the policy. You wonder why they need to do that. After all, you are young and healthy and have no history of any severe illness. What is the point of taking a medical test for term insurance?
If you have ever faced such a situation or have similar questions, this blog post is for you.
Why Medical Test is Important in Term Insurance?
Medical test is an essential part of the underwriting process for term insurance. Underwriting is the process by which the insurance company evaluates your risk profile.
Medical test is important in term insurance for the following reasons:
- It helps you get the right coverage based on your health condition and needs. It ensures that you are not underinsured or overinsured, which can affect your financial security and peace of mind.
- Medical test helps you get lower premium rates if you are in good health and have no pre-existing diseases or lifestyle habits that can increase your mortality risk. It also enables you to avoid any future complications or disputes in case of a claim.
- It helps you get faster and hassle-free claim settlement as it reduces the chances of any discrepancy or fraud in your policy details. It also enables you to avoid any medical examination at the time of claim, which can delay or deny your claim.
- It helps you get better features and benefits in your term insurance plan, such as riders, discounts, bonuses, etc. It also lets you access online plans that offer more convenience and flexibility.
What are the Medical Tests Required for Term Insurance?
The medical investigations necessary for term insurance may vary from one insurer to another and from one plan to another. However, some of the standard tests that are usually conducted are:
- Body Mass Index (BMI): This test measures height and weight to determine your general physical health and fitness level. A high BMI can indicate obesity or overweight, increasing your risk of diabetes, hypertension, heart disease, etc.
- Blood Sugar: This test measures blood glucose levels to diagnose diabetes or prediabetes. Diabetes can affect your vital organs and increase your risk of infections and complications.
- Electrocardiography (ECG): This test measures the electrical activity of your heart to detect any cardiovascular diseases such as arrhythmia, angina, or heart attack. This ailment is one of the leading causes of death in India and worldwide.
- Urine Analysis: This test analyses your urine sample to detect disorders such as kidney disease, urinary tract infection, diabetes, etc. Kidney disease can affect your blood pressure and electrolyte balance and lead to kidney failure.
- Differential Blood Count: This test counts the number of platelets, WBCs, RBCs, and hemoglobin in your blood sample to evaluate your immunity and blood quality. A low or high count of these components can indicate anemia, infection, inflammation, or bleeding disorder.
- Lipid Profile: It analyses the amount of cholesterol and triglycerides in your blood to assess your risk of atherosclerosis, which is plaque buildup in your arteries. Atherosclerosis can cause blockage or narrowing of your blood vessels.
How to Prepare for Medical Tests for Term Insurance?
Medical tests for term insurance are not very complicated or invasive. A qualified medical practitioner usually does them at a nearby diagnostic center or your home.
However, to ensure accurate and reliable results, you must prepare well for the medical tests for term insurance. Here are some tips that can help you do that:
- Follow the instructions given by the insurer or the medical practitioner regarding the tests’ date, time, place, and procedure.
- Never consume anything except water for at least 8 to 10 hours before the tests. This is especially important for blood sugar and lipid profile tests.
- Avoid smoking, drinking alcohol, or consuming caffeine for at least 24 hours before the tests. These substances can affect your blood pressure, heart rate, and blood chemistry.
- Avoid taking any medication or supplements for at least 48 hours before the tests unless prescribed by your doctor. Some drugs or herbs can interfere with the test results or cause adverse reactions.
- Refrain from doing strenuous activity at least 24 hours before the tests. This can affect your heart rate, blood pressure, and muscle enzymes.
- Wear loose-fitting attire that provides easy access to your arms and legs to draw blood samples or attach electrodes.
- Bring a valid identity proof with a copy of your application form and policy document.
- Be calm and relaxed during the tests. Do not panic or stress yourself; this can affect your vital signs and test results.
Now that you have understood the relevance of medical screening, use a term insurance calculator to pick optimal coverage.
Conclusion
Medical test is an important aspect of term insurance that you should not ignore or avoid. It can help you get the best coverage at the best price with the best features. It can also help you get faster and smoother claim settlement in case of any unfortunate event.
Therefore, do not hesitate to take a medical test for term insurance. It is not a hassle but a benefit that can make a huge difference in your life insurance experience.