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Many insurers are not conducting medical test before providing a policy. How does it impact claims?

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04 Sep, 2020 by Questions On Social Media

I was recently buying a term policy, and the insurer said they won't do the medical check up. I am super worried. They may issue the policy now, but what if they reject the claim later on some flimsy grounds? Please help.

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1 Answer

04 Sep, 2020
Mahavir Chopra

Yes, this is a concern many people have. What if the insurer is being casual right now, and may reject the claim later?

Here's the answer:

1) The medical test carried out by insurers is not comprehensive enough to find out every illness or health condition in the person applying for insurance. They anyway heavily rely on your declarations. Medical tests are waived based on your profile - if you have a great credit score, declared income, live in a metro city and have a reasonable good educational qualification - then there are chances medical test will be waived off.

2) You should therefore ensure the declarations you make are to the best of your knowledge.

3) What is to the best of your knowledge: Ensure you do your home work and are thorough in your information. For instance, if you have to inform regarding your parents' health condition - ensure you take out their medical file, understand what medications they take, speak to your family doctor - summarize all the health conditions and provide it to the insurer.

3) Do not rely on your agent or intermediary to fill any proposal form.

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