Without A Medical Exam, How Much Term Insurance Cover Can I Get?


Term insurance is one of the most sought-after types of life insurance. It provides you with a life cover for a fixed period. Term plans usually offer a vast sum assured for low premiums. There are several companies that offer term insurance out there. To get one, you are required to get a medical examination done. A medical test reflects your exact health condition to the insurance company.

Can you get term insurance without a medical exam?

For most term insurance plans, it is mandatory to get a medical exam done before buying the insurance. However, there are some term plans you can avail without getting any medical tests done. Usually, the premiums of these plans are higher than standard plans. As the premium of term insurance depends on factors like your age, sum cover, your health, your lifestyle, and type of cover. It is important to consider the options you have without medical tests and choose the one that suits your financial needs.

Since your health is a major factor for calculating your premiums, not getting any medical tests done may cause a problem. The insurance company has the right to reject your claim based on the medical history of the family or on their evaluation of your coverage. Also, there can be any pre-existing illness or critical conditions that you may be unaware of. Getting medical tests done ensures that you have a smooth process while you buy a term plan and also when you file for a claim.

How much cover can you get without a medical exam?

There are several factors that go into drafting a cover of a term policy. If you are not getting any medical tests done for your term plans, here are some factors that the insurance company might evaluate while offering you coverage –

Age– When you buy a term plan, age is the major factor taken into consideration. If you are young, they will probably offer you a huge sum cover for low premiums. The premium of older individuals is usually high as with age, the life expectancy of a person reduces. Also, as people age, the chances of critical illness and chronic diseases increases. If you have a medical exam taken and you are healthy, they usually offer you a higher sum than your usual age gap. The better your health is, the higher sum cover you can get at a lower premium.

Lifestyle- If you are severely obese, smoke regularly, or over-consume alcohol, these lifestyle habits will cost you a high premium. These habits are directly related to lower life expectancy and the development of chronic conditions.

Pre-existing illness- The insurance companies take pre-existing illnesses into consideration while calculating your sum insured. If you have any such conditions, your insurance coverage may be less than that of a healthy individual. Or, the insurance company may offer you a sum assured but for a higher premium.

How does getting medical tests done to benefit your term plan?

When you get medical tests done before buying a term plan, you can avail all the term insurance benefits. The major ones being –

Reasonable premiums- When you submit your reports to the insurance company, they get a clear picture of your health conditions. If you are a healthy individual overall, they may even offer you lower premiums.

Reality check- As an individual, you know the exact condition of your health when you get medical tests. These tests will help you understand any changes you need to make in your everyday life to get healthier. Also, any underlying condition might be diagnosed beforehand and can get treated immediately.

Higher sum assured- Before buying term insurance, it is important to know how much term insurance you need. If your medical tests are clean, the insurance companies will offer you a higher than the usual sum assured.

Fewer chances of your claims being rejected- The medical tests that you did before buying a term plan are a solid document of evidence of your health. During the time of claim, these tests will support your account in case of any discrepancies.

There are several term insurance benefits that you can get easily by getting the medical exams before purchase. Also, it helps your loved ones to get the claims without any hassles in your absence.

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