Medical Tests for ₹1 Crore Term Insurance: What to Expect?

One thing that any human being needs at any point of time is saving the financial stability of his or her family; term life insurance is one medium through which that could be reached. Of the various plans presented in India, the ₹1 crore term insurance plan has captured the imagination for the highest available coverage and reasonably affordable price tags. But this equally has a massive coverage, and the insurer will ask for a medical checkup. What these medical check-ups mean, why they should happen, and how you can prepare for them is what we shall discuss here.

Why do medical tests need to be carried out with term life insurance?

The level of risk associated with the risk of covering a person needs to be known by the insurance company before giving out the policy. The results of the medical tests guide the insurer on your health profile for determining the following:

• Amount of Premium: A healthy person is expected to pay a lesser premium of term life insurance as compared to a person who has underlying conditions of health.
• Policy Approval: The results of these tests are either accepted or declined about your policy by the insurers of your choice.
• Terms of Coverage: As per your medical reports sometimes there can be a specific exclusion or condition in your policy.

For term insurance for ₹1 crore, both you and the insurer are on the risk side. Therefore, a full-fledged health check-up is necessary.

General Medical Tests Under Term Life Insurance

Following are some of the significant medical tests you’ll face when opting for ₹1 crore term insurance in India.

Blood Tests:

These blood tests test a range of health indicators. Amongst those are,

• Cholesterol Level: This means your level of cholesterol. It indicates the probability of developing heart disease.
• Blood Sugar Level: It checks on your diabetes-prone risk factor
• Liver and Kidney Function Tests: It just measures the function of organs like the liver and the kidneys as a whole.
• CBC (Complete Blood Count): Provides an overview of your health and informs if an infection or abnormality is present, or not.

Urine Tests:

Urine analysis is used too:

• Diagnose diabetes and kidney problems.
• Detect nicotine or other substance residues, which may suggest smoking or substance abuse.

ECG (Electrocardiogram):

An ECG is conducted to examine the electrical activity of your heart for the presence of:

• Heart diseases.
• Irregular heartbeats.
• History of heart attacks, if any.

Treadmill Test (TMT):

A treadmill test would be conducted on an applicant over a certain age or with a history of heart disease. This will check how your heart performs when under stress from exercise.

Chest X-Ray:

These check for:

• Lung diseases
• Size and shape of the heart
• Anomalies within the chest

BMI and Obesity Screening:

BMI is done to see if you are overweight, underweight, or in the range of having a normal weight. Obesity leads to diseases such as diabetes, hypertension, and heart disease.

Specialized Tests:

Insurance companies based on your age, medical history, and lifestyle can ask you to do specialized tests, which can be;

•  HIV test.
•  Hormonal levels are concerned with the thyroid function test.
•  PSA is taken in males
•  Mammogram is done in females

Preparation for Medical Tests

Though tests for ₹1 crore term insurance are not challenging, some preparatory work earlier will ensure results without any anomaly:

• Hydration: Drink enough water before the test.
• Fasting: Some tests like blood sugar and cholesterol would require a time gap of 8 to 12 hours for fasting.
• Alcohol and Smoking Avoidance: Alcohol and smoking should be stopped at least 24 hours before the test.
• Avoid overconsumption of caffeine: Too much consumption of caffeine may elevate your blood pressure levels.
• Sufficient Rest: A rested body ensures that all the results, especially ECG and TMT, are proper.
• Bring Your Medical History: Carry all of your previous medical reports and prescriptions along.

Conditions That Determine Medical Test Requirement

Not every applicant is administered the same kind of tests. The variables that decide to take more or less tests include, 

• Age: More comprehensive tests would be needed by the aged 
• Sum Assured: More detailed medical tests are required for higher coverage sums like term insurance amounting to ₹1 crore
• Lifestyle Habits: Smoker, alcohol consumer, or leads an inactive life; well more tests one has to undergo.
• Pre-existing Illness: Patients with known health conditions may have to undergo specialized tests.

Benefits of Medical Tests in Term Insurance

Medical tests may seem an added hassle; however, it has several benefits:

• Transparency: Knowing the health status of an individual would ensure that a person chooses the right coverage and premiums.
• Customized Policies: Medical reports will allow the insurance companies to create policies customized according to individual needs.
• Rapid Claims Settlements: The accuracy of health data during policy issuance prevents chances of being denied for the claim afterwards.

What Happens If You Fail the Medical Test?

You pass the medical tests and cannot be insured. That’s not possible. Here’s what might happen:

• The insurer can sell you a policy at a more premium.
• Terms might not be included in the policy.
• You may look out for policies which do not need any medical examination, though this will have a low cover and a higher premium.

Tips for Choosing the Right Insurance Company

When you make a decision regarding term insurance for ₹1 crore, you know how to obtain the right term insurance. The following is exactly what you do

• Check the Claim Settlement Ratio: A better ratio means a reliable insurer will settle claims for you.
• Compare Premiums: Use online instruments to compare various insurers’ premium
• Read policy terms: Check the fine print, especially conditions and exclusions
• Customer Review: Check all the feedback received on the quality of services or support offered.

Conclusion:

The medical tests for term insurance worth ₹1 crore are pretty significant in the sense that they will ensure that you are completely covered. It is pretty tiring, to say the least, but it is both for your and the insurer’s good. Preparing yourself for what is required of you would, therefore make the whole process smooth sailing, thus sleep tight knowing your family is in safe hands.

Investment in term life insurance is a serious decision, and the medical tests are small steps in this direction. Take it as a move toward securing the future of your loved ones with a lot of protection. Indeed, nothing else can compare with the peace of mind one enjoys when they feel that they have made the right choice for the well-being of their loved ones.