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Term Insurance Without Medical Tests – A Hassle-Free Buying Experience

Life is uncertain. Let’s face the fact that with rising instances of lifestyle diseases, pollution, and vector borne illnesses, even the healthiest of people cannot be sure about what’s in store for their health in the next couple of years. 

Health is the most uncertain factor in everyone’s lives right now. Nobody wants to add financial uncertainties to a life with so many ambiguities. That brings us to term insurance – an instrument that you can invest in as a financial security for their family and dependents. 

Life doesn’t have any guarantee, but term insurance does. It provides a lump-sum corpus insured to the nominees of a term insurance policyholder upon their death.

However, buying a term insurance plan is not as easy as it appears. Generally, insurance companies prefer and request term plan applicants to undergo medical tests. The reasons are as under:

  • Insurance companies take risks when they onboard new customers. They need to have the correct information about applicants’ health conditions as it helps them quantify risk. By comparing medical test reports with the information shared in the application forms, insurance companies can find discrepancies and decide whether it is worthwhile to take on the underwriting risk.

  • If a term plan applicant’s medical tests show critical illnesses or the likelihood of early eventualities and claims, the insurance company may not want to risk by offering a policy to them. This could result in policy rejection. Likewise, if the insurance company assesses that the new applicant has a major life risk, they may not want to underwrite such applications.


Term plan without medical tests – hassle free experience

Of course, buying a term plan without medical tests would mean a much quicker and easier process compared to going through a series of mandatory medical tests. At times, applicants have to spend hours at designated hospitals to complete the string of tests.

Many insurance companies in India offer term plans without medical tests. They normally make the policyholder sign a declaration stating that he / she is in perfect health at the time of purchasing the policy. In this case, the onus of full disclosure is on the applicant.

In many cases when the sum insured is small or if the policyholder has an insurance plan through an employer and the medical tests have been done, the insurer may not ask for a separate medical test. 

Age is another factor that makes insurers offer term plans without medical tests. Generally, younger people are presumed to be healthier compared to older people and hence may not have illnesses that the insurer may need to worry about. In such cases, medical test can be waived by the potential insurer.


Things to consider for term insurance without medical tests

Sharing correct information: Applicants must remember that in term plans bought without medical tests, the complete onus is on the policyholder. The insured is expected to share and disclose every health related detail. Moreover, the insured must also ensure a healthy lifestyle. Smokers and alcoholics and people working in dangerous occupations might have to face consequences later, if adequate disclosure of the same is not made.

Sum assured: If a sum insured is low, the insurer may not insist on a medical test. But if you want a higher sum insured, you must be ready for a medical test. 

Rider benefits: Some term insurance plans offer riders benefits. These are additional coverage with an additional premium. Riders such as critical illness, disability and accidental deaths might require the policyholder to go through a medical test.


Term insurance plans without medical tests

ICICI Pru iCare TermMaximum age: 67 yearsMinimum premium: Rs 2,400Tax benefit under Section 80C
Future Generali Smart LifeSum insured: up to 30 lakhsMaximum entry age 45 yearsAvailable only online
HDFC Click2Protect Plus PlanMaximum age: 65 yearsMaturity age: 85 years Sum insured up to 1 croreMaximum policy tenure: 40 years
Met Life Term Insurance PlanDifferent plans offeredTax benefit under Section 80CMaturity age: 75 years

Apart from these, other insurance companies that provide good term insurance plans to consider are: Bharti AXA Term Plans, Kotak Life Term Plans, Aditya Birla Sun Life Term Plans, Tata AIG Term Plans, among others.

Would you like to know more about term plans or buying a plan without medical tests? Seek help from expert term insurance agents or simply get in touch with us. Remember, that every term plan without medical test has an important clause that puts the onus of full disclosure on the policyholder. 


FAQs: Term Insurance Without Medical Test

Is a medical examination necessary for term insurance?

No. A medical examination is not necessary for all term insurance policies. There are many insurance companies in India that offer term plans without medical tests.

What kind of medical tests are done for term insurance?

The basic aim of pre-policy medical tests is to find any health condition or ailment so that the insurer can accordingly determine the premium, the sum insured and decide the underwriting. Generally, these medical tests include complete blood tests, fasting plasma glucose tests, cholesterol tests, HIV and urine tests.

Which are the best companies for term insurance without medical tests?

Many insurance companies in India offer term plans without medical tests. Some of the insurance companies to consider are: ICICI Prudential, PNB MetLife, HDFC Life and Future Generali, among others.


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