Are Medical Tests For Online Term Insurance Important?

By Gizbot Bureau
Are Medical Tests For Online Term Insurance Important?

Benefits of Term Insurance


While life is unpredictable and mishaps can happen at any time, there is no reason why you can't be prepared to ensure a continued lifestyle for your family members. A term insurance offers you the chance to ensure that your family's dreams and aspirations continue undeterred even in your absence. And, now that term insurance is made available online, it is all the more easy to buy your plan, keeping your family's needs in mind.

How to Buy Term Insurance Online?

Buying your term life insurance plan online is pretty simple. All you have to do is follow the below mentioned steps:

1. Visit the insurer's or the insurance provider's website

2. Browse the plan offerings to pick the right term insurance plan of your choice

3. Enter the basis details and proceed

4. You can also customise your plan by adding plan riders that enhance your coverage

5. Upload the necessary documents

6. Pay your premium and that's it!

7. Your insurer will initiate your medical test procedure and once done, your policy will be issued!

To be able to buy a term plan that provides enough coverage for your family's future needs, you are required to go through a medical test. Let us understand the importance and benefits of these tests.

Importance of Medical Tests in Term Insurance

The importance of medical tests while buying a term insurance plan lies in the fact that it enables the insurance provider to get a clear picture of the applicant's present fitness levels and health situation. Having a clear picture, the insurer is able to do an accurate risk profiling and provide you with the maximum cover that befits your situation. Not only that, but this also significantly increases the chances of a smooth payout for your family in the case of an unfortunate incident and when they need it the most. These medical tests are carried out by medical professionals assigned or contracted by the insurance provider and adhere to all safety protocols and directives.


Term Insurance Factors Affected by a Medical Test

Now that you are getting a better sense of the importance of a medical test while buying a term insurance plan, let us make it more tangible and tell you specifically what insurance factors are influenced by the result of these tests.

• Sum Assured Amount:

Sum Assured is the final amount payable to your nominees in case of your unfortunate demise. Clearly, it is everyone's objective to leave their family with as much financial comfort as they possibly can. Your medical test results go a long way for the insurers to fix this amount, depending on the overall risk profile that is generated.

• Premium Amount:

Premium Amount is what you need to pay regularly to keep your term plan active so that the benefits can be passed on to your family. As you can imagine, if your test results reflect a healthy predisposition, then the consequential premium payments will be lower as compared to a person who has ailments or diseases. This is a big reason why people are encouraged to buy term insurance as early in life as possible when their physical, emotional and mental health is in its prime, and they can get a high cover at lower premiums.

• Claim Settlement Rates:

The claim settlement rate is something not many people pay attention to. However, it is a vital aspect. It is the procedure that your nominees will need to go through in your absence, and as a responsible provider, you should aim to make this process as convenient as possible. People who have undergone medical tests and have honestly declared their medical history have far higher claim settlement rates. By lying in your results or manipulating them, you may be able to get a high cover, but it is your family that will, unfortunately, need to go through the ordeals of getting their claim passed.

What Do Term Insurance Tests Cover?

So, what do these tests cover, you may ask? While different insurance companies may have a different list, the most common tests include:

• Body Mass Index (BMI) calculation using height and weight measurement

• Complete Blood Count (CBC)

• Urine Test to ascertain kidney and liver function

Based on the details you fill and your age, family history, and existing conditions certain additional tests may be advised.

What are the Medical Tests Done for Buying Term Insurance?

Medical tests are usually based on factors such as age, medical history, lifestyle habits, etc. which are provided in the term insurance application form. In light of this, besides the basic details required, the insurer may ask you to get some tests done:

• Blood test
• Liver function test
• Fasting blood sugar
• Chest X-ray
• Ultrasonography, to name a few.

The doctor would also record the other vital information. The medical reports are usually sent out online on your registered email as well, so you can make note of the same.

In Summation

Going through medical tests before buying a term plan is in your best interest. It helps you secure the right amount for your family and also ensures they will get their cash or digital payment in a timely fashion. To explore term insurance policies and compare their features and benefits, visit a reliable insurance page today.


Vinod Gill is a writer who specializes in writing content on Insurance and Finance subjects. He is a Digital Marketing Consultant, Blogger, and Co-Founder of Ecompany.

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