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How Much Term Life Insurance Can I Get Without a Medical Exam?

Updated On Nov 05, 2021

A term insurance plan is a kind of life insurance policy that offers insurance coverage at the cost of a fixed premium paid for a specific time period. Under this insurance plan, a policyholder receives higher insurance coverage at a lower premium rate. Financial coverage is offered to the nominee assigned by the life assured in case of the demise of the latter during the plan tenure.

Can a Term Insurance Plan Be Purchased Without a Medical Exam?

Yes, a term insurance policy can be purchased without any medical check up, however, the rate of premium might differ from standard plans. For instance, the premium payable would depend on the policyholder’s age, coverage type or amount. It might also differ in case you are having any critical medical condition or a pre-existing illness.

In case, the policyholder does not examine their health status at the time of purchasing the plan, it might cause a hindrance during the time of making the claim. The insurance provider can reject the claims depending on the medical history and coverage opted.

How to Purchase a Term Cover Without Medical Examination?

Purchasing a term cover is a very simple task. However, you need to do proper research and find an insurance plan that better meets your financial requirements. After finalizing the insurance plan, you need to make the next payment for the same.

In case, you wish to purchase the insurance plan offline, you can directly make a visit to the nearest branch of your respective insurance provider to complete the entire policy purchasing procedure. A representative of the insurance company would assist you through the whole procedure.

How Much Life Insurance Cover Can I Receive Without any Medical Check -Up?

Here are the factors that help in determining the life insurance cover you would receive without any medical exam:

Lifestyle: If you are a chain smoker, then the amount of premium payable may be higher as smoking can lead to several illnesses in the human body. Chewing tobacco or smoking are amongst the leading causes of early death.

Age: A young individual generally pays a lower premium as compared to an aged policyholder. This is because as you age, you tend to develop several kinds of health conditions including critical illness such as cancer, heart ailments, etc.

Pre-Existing Illness: If you are diagnosed with any pre-existing illness, then there are more chances of you raising a claim than healthy individuals. Your insurance company would either offer life cover for a high premium or may reject the policy.

At the End

One must purchase a term insurance plan irrespective of its requirement for a health check-up. However, it becomes important for a policyholder to get a health examination done in case you wish your loved ones to not face any kind of hurdles during the claim procedure. Also, do proper research before finalising a term plan.

Also read - Long-Term Investment Options For Salaried People

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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