Can You Buy Term Insurance Without Medical Tests

You are not alone if you also felt a bit surprised and unsure that one can get a term insurance policy without a term insurance plan. A medical test has been considered cardinal to getting a policy for a long time. However, as Yash and his father discovered, getting a term insurance policy without undergoing a medical test is possible.

In recent years, several insurance companies have ventured into term insurance policies that are issued without conducting a pre-medical test of the policy seeker. If you want to know more about such policies and how to get one, read on and find out.

How To Get A Term Insurance Policy Without A Medical Test

You have options if you want to get a term insurance policy but do not want to undergo the required medical tests. However, it is crucial to understand that the insurance companies have the final say in it. Therefore, you must convince them you do not need a medical evaluation to buy a policy. Here are a few factors that will help you elevate your chances of getting a term insurance policy without a medical test:

Buy Policy Early In Life

Suppose you buy a policy early in life as a young adult. In that case, the insurance company may approve your policy without the pre-requisite medical test compared to purchasing a policy as a senior citizen later in life. This is because young adults are generally not at risk of life-threatening conditions that may negatively impact the policy or the premium amount.

Maintain A Healthy Lifestyle

People who maintain an overall healthy lifestyle, like eating clean, regularly exercising, having a strict sleeping cycle, creating a balance between professional and personal life, etc., have a far less chance of experiencing early demise or suffering from any life-altering condition. Therefore, if you lead a healthy lifestyle and establish it before your insurance company, you have a higher chance of not requiring a medical test.

Include Riders

Riders or add-on benefits are extra benefits that ensure that you remain covered and secure even in the event of an unexpected turn in life, like getting a terminal illness. Generally, these riders or add-on benefits are added to the base plan with a top-up charge in addition to the standard premium. So, if you add some of such riders to your base policy, the chances of you avoiding a medical test will be high.

Be Truthful And Transparent

Term insurance policy documents are intensive and detailed. They have questions regarding your medical history, overall health, underlying conditions, etc. While it might seem tempting to skip over such information, or you may just be negligent about their relevance, it is advised to be as clear, truthful and transparent about such details as possible. Being truthful and transparent on application makes your insurer trust you, who might let go of the medical test.

Types Of Medical Tests

If the insurance company explicitly requests a medical test, it is advisable to take it. Generally, you will have to go any one or more of the following types of medical tests:

Physical Tests

The physical test is the most common medical test insurance companies require. The policy seeker's height, weight, body mass index (BMI), hemoglobin, blood pressure and blood sugar levels are tested. Further, depending on the results, the person's age, medical history, overall health condition, lipid profile, complete blood count (CBC), HIV and urine tests, and echocardiography might also be performed.

Telephonic Tests

Insurance companies may also require the policy seeker to go through a telemedical interview with a medical expert. The interviewer will aim to understand the policy seeker's overall health condition and gather generic information, including details for any existing condition or relevant medical history. The onus here is on the policy seeker to provide accurate information, as any deviation may result in claim rejections in the future.

Video MER

Insurance companies have recently become more modern and tech-savvy, conducting medical tests over video calls. These medical tests include a medical professional examining the policy seeker over a video platform and are known as Video MER. Conducting an examination with a medical professional over video ensures that any medical condition not reported earlier gets identified.

In Crux

Several insurance companies have launched term insurance plans that do not require the policy seeker to undergo any medical examination. Generally, such policies are reserved for relatively younger people or people who actively maintain a healthy lifestyle. However, in certain instances, insurance companies may request a policy seeker undergo a medical exam, depending on the circumstances. If that is the case, it is always better to get the test done.

Frequently Asked Questions

Do no-medical-test policies have higher premiums?

While there is no rule per se, and the premium for each policyholder varies depending on their circumstances, term policies issued without medical tests may have slightly higher premiums since insurers take on more risk.

Who is eligible for a term insurance policy without a medical test?

Typically, there are no guidelines on who may or may not qualify for a term insurance policy without a medical test. However, younger applicants with no pre-existing medical conditions and a healthy lifestyle tend to be eligible for such policies more than other groups.

What are the benefits of a term insurance policy without a medical test?

It is time-consuming to get a medical test conducted for a term insurance policy, whether a physical test, telephonic test, or video MER. Skipping the test all together saves time, reduces hassle, and ensures quicker policy approval.