• What Are List Of Tests Do Before Buying Life Insurance Policy

    Life Insurance
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    • Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
    • Do more with plans that offer pure protection, retirement planning and investment options

    Availing a life insurance policy can be considered a life-long commitment or investment. Customers can purchase a policy to secure their loved ones or dependents financially in case of an untimely death or disability, etc. In addition, a life insurance policy can be purchased to build a retirement corpus, for health coverage, as an investment, endowment plan, or to secure the future of one’s child. Customers now have the convenience of purchasing a life insurance policy either online (on the website of the insurer) or offline (at the branch office of the insurer).

    When purchasing a life insurance policy, in some cases, the insurer might ask the policy applicant to submit a medical report. This request would vary based on the age of the applicant or the sum assured chosen by the applicant. Usually, applicants that are relatively older, or have chosen a high sum assured, will be requested by the insurer to undergo a medical test. Younger applicants or those who have chosen a relatively lower sum assured usually wouldn’t have to go through a medical test when purchasing a life insurance policy. That said, in case the applicant has had a of medical problems, he/she will be requested to submit a medical report to avail a life insurance cover.

    Requirements for a medical test when buying a life insurance policy

    As already mentioned, for life insurance applicants that are relatively older or those who have opted for a high coverage, they will be asked to undergo a medical test. The medical tests are basically for the insurer to determine whether the candidate has a health condition or whether a possible health issue could arise in the future. Listed below are the requirements for a medical report of a life insurance policy:

    • Blood sample
    • Measurement of height and weight
    • Urine sample
    • ECG
    • Saliva sample
    • Answer a series of medical questions regarding your health

    The costs for the medical tests are usually covered by the insurer, and would take a maximum of approximately 30 minutes, barring the ECG.

    What life insurance companies will determine from the medical tests

    Through the submission of the medical tests of the applicant, the insurer will determine whether the applicant is a smoker or a non-smoker, if he/she has any pre-existing diseases, or if the applicant could possibly have health issues in the future. In addition, the tests will be a screening to check whether the applicant indulges in illegal drug use, to check one’s cholesterol levels, check the functioning of one’s kidneys, etc. Listed below are certain conditions that an insurer will look out for from the tests submitted by the applicant:

    • If the applicant has a sexually transmitted disease.
    • If the candidate tests positive for HIV.
    • Check one’s cholesterol levels (low and high-density lipoprotein) - anything correlated to heart disease.
    • Glucose levels, fructosamine, and Hemoglobin A1C levels, to check the prospects of diabetes of the applicant.
    • Protein,  hemoglobin, and creatinine levels - for any kidney related issues.
    • Urine acidity.
    • Any type of pre-existing diseases.

    What to keep in mind before taking the medical test

    Before taking the medical test, you will be required to answer a series of medical questions. In order to avoid your application being rejected, ensure your answers are correct and transparent. Make sure that you do not hide any past or current medical problems as your answers will be matched with your medical report and any discrepancies will lead to a rejection. If you suffer from any pre-existing diseases, ailments or if you are a smoker, declare the same with your insurer. The insurer has every right to withdraw your coverage even after purchase if they feel that you have not been upfront about your health. In short, being accurate about your medical history will help the insurer set a premium, in turn, helping you plan your finances.   That said, you would want to be best prepared for the medical test by keeping in mind the below-listed points.

    • Ensure you eat healthy food and drink sufficient amount of water prior to your test.
    • For smokers, avoid smoking prior to the test as it raises blood pressure and your heart rate.
    • Reduce intake of caffeine and avoid consumption of alcohol.
    • Avoid consumption of sleeping pills or antidepressants.
    • Avoid consuming high-protein snack bars, poppy seeds, tonic water, soda, sugary drinks, Vitamin B12, Ibuprofen or Riboflavin supplements.

    Based on your medical report, the insurer will either accept or reject your insurance application. In addition, the premiums that you will have to pay and the sum assured that might be offered to you, will be based on your medical condition. If there are certain health issues, pre-existing diseases or if you are a smoker, the premiums set will be relatively higher as opposed to what will be offered to a healthy applicant. As already mentioned, it is imperative that you are clear about your medical history when questioned, as this will prevent any sort of complication later on. Keep in mind that the insurer can withdraw your coverage based on any sort of falsification of your medical history. Lastly, the biggest benefit is that you can reflect on your medical condition, and even if your application is rejected, you can make amends to your daily routine and improve your health.

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