Health insurance is one of the best ways to meet expenses that arise from health issues. Most insurance providers have made pre-policy checkups mandatory. But, customers are unsure of what this requirement entails and start wondering what the outcome of the tests will be.
Below are some of the common questions that come to mind when thinking about pre-policy medical check-up:
Who bears the cost of a checkup?
As per IRDAI or the Insurance Regulatory and Development Authority, the insurer will bear at least 50% of the medical cost.
What all tests are usually conducted during pre-policy checkups?
The nature of medical tests varies from case to case. It largely depends on the declarations made by the applicant, current illnesses, and medical history. The usual tests administered are ECG, blood serum test, lipid profile test, blood pressure measurement, blood sugar, complete blood count, etc.
What is the importance of having a pre-medical check-up?
- Reduced possibility of claim rejection – Medical tests serve as documentary evidence of the details submitted earlier and can thus support your claim.
- Reality check – The test reports aids in taking preventive and remedial measures for leading a healthy life.
- Reasonable premium rates – Having a healthy body is rewarded by lower premium rates.
- Higher sum assured – Term insurance plans requiring medical check-ups normally offer a higher sum assured depending on the test results.