Why is a Term Insurance Medical Test important?

A Term Insurance plan safeguards you and your family from many of life’s uncertainties, such as an unfortunate fatal life event, an unforeseen dismemberment or the unexpected diagnosis of a terminal illness. A term life insurance plan also covers several kinds of medical expenses. It is one of the reasons why an insurer insists on getting a Term Insurance Medical test done. It helps them develop an individual risk profile for you. It determines the final premium that you will pay towards your policy.

What kinds of tests do you have to undergo as a part of the Term Insurance Medical Test?

Typically, a number of tests are conducted to get a clear picture of your health status. The healthier you come across on the tests, the lower your premiums will be. Some of the tests that are conducted are as follows.

  • Lipid Test

A lipid test is conducted to spot the abnormalities in your blood. An examiner looks for high cholesterol and triglyceride levels. Abnormal levels of these could potentially indicate a possible cardiovascular ailment in future.

  • Kidney Function test

The kidney function test helps the examiner determine whether the kidney is working as it is supposed to. A kidney, which is functioning abnormally, could mean serious health consequences. An examiner checks if the body’s filtration system is working like it should.

  • HIV test

The results of the HIV tests also play a factor in the determination of your overall cover. It is, in fact, one of the illnesses covered under Term Insurance plans. However, it is advisable for the applicants to be honest about their health situation during their first interactions with the insurance firm.

  • Liver function test

Such a test is usually done to determine if the applicant has a normally functioning liver or has a history of consuming substances like alcohol. Liver abnormalities can invite the contraction of some terminal diseases. This is something that the insurer takes into consideration while crafting the plan.

  • What is the ideal time for me to get a Term Insurance Medical test done?

A prospective policyholder must get such a test done as early as they can in their lives, ideally between the ages of 20-30. If you get one done and approach an insurer with it, chances are that you will have to pay a lesser term insurance premium. If the insurer has to get a test done, charges will apply, which you might have to pay either upfront or in the form of inflated premiums.

  • What if I don’t get the Term Insurance Medical test done?

Any insurer or a Term insurance policyholder will encourage a comprehensive medical test. However, there are certain term insurance plans that do no necessitate one. However, those policies generally come with a smaller cover and a limited set of benefits.

  • Can a Term Insurance Policy be purchased online?

These days, almost anything is available at the click of a few buttons. All you have to do is help yourself to the online sites and browse through the term insurance plans that they have to offer. A comprehensive list shall appear.

  • Is there a way for me to determine what my premium amount could look like before getting a test?

You can find the term insurance calculator online, fill in a few basic details and take a look at the possible quotes yourself. It should be able to give you a close to accurate estimate of the premium that you will have to pay, based on your health history.

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