Prices Increasing Soon
Term insurance plans ensure that your loved ones receive financial support during any uncertainties of life. In the world of actualities, eventualities are things that do not come with prior information. There is simply no guarantee of what will happen next. However, each one of us needs to protect our loved ones in case of any adversities that would affect them in case you are not around.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
This is when a term insurance policy comes into the picture and takes care of your family even when you are not around, providing them with financial security and stability. However, the main concern of insurance buyers while buying term plans is: Is term insurance without medical check-ups is available in India? Let’s discuss this in detail:
Term Plans
Yes, you can buy term insurance without medical test. Many life insurance providers offer term insurance without medical tests. In the term plan without a medical test, the insurance holder is not required to go through any medical screening while purchasing the policy. The insurance company allows the policyholder to purchase the term plan without medical tests, considering the policyholder’s age and the sum assured amount they chose. However, if the insurance buyer has any pre-existing medical problems or illnesses, he/she will have to take a medical exam while buying the policy.
Age, lifestyle, and family medical history are some of the important factors that are considered by the insurers while offering term plans without a medical test.
Yes, having term life insurance is worth every penny.
Term life insurance plans are pocket-friendly and do not create a financial burden on your shoulders, depending on your age and health conditions.
The important aspect of any term insurance plan is based on the sum assured. You can either opt for a monthly payment of the sum assured or a lump sum payout of the death benefits.
A term insurance policy can be bought for a policy tenure between 5 years to 30 years. Besides, the policy offers complete risk cover to the insured; therefore, in case of the insured's demise, a death benefit is provided during the policy term.
There is a wide array of aspects such as living style, age, number of members, and much more, which helps in deciding the premium rate that could be paid on time so that you can secure your long-term objectives with a term life insurance plan. You can easily use a term plan calculator to get an estimate of the premiums you need to pay for the desired life cover.
At a time, buying a term insurance policy required a pre-medical screening. However, today, you can easily buy term insurance without a medical test.
Secure Your Family Future Today
₹1 CRORE
Term Plan Starting @
Get an online discount of upto 10%#
Compare 40+ plans from 15 Insurers
The following are the key features of a term insurance plan:
| Parameters | Features |
| Free-look Period |
|
| Policy term | Minimum- 5 years Maximum- 30-35 years (it varies from plan to plan) |
| Entry Age | Minimum- 18 years Maximum- 65 years |
| Grace Period | 15-30 days as per the policy modes |
| Plan Type | The policyholder can choose different plan options as offered by the insurer |
| Maturity Age | It varies from plan to plan |
| Policy Revival | The policy can be Revived within the policy revival period. |
| Premiums | The premium varies from plan to plan and is based on the total sum assured amount and age of the applicant. |
| Premium Paying Term | Regular pay, single pay, and limited pay |
| Nomination | A nominee is accepted under the term life insurance policy. |
| Sum assured | Varies from plan to plan as offered by different life insurance companies |
| Policy coverage | The death benefit and maturity benefit (Applicable only for TROP plans) |
Note: Check out the term insurance plan in India and choose one that suits your requirements.
You can get a better understanding of what is term insurance by taking a look at its benefits. The following are the major benefits offered by the term insurance policy.
Death Benefit: In case of an unfortunate demise of the insured person during the tenure of the policy, a death benefit equals the total sum assured amount is paid to the beneficiary of the policy. The term insurance plan ensures financial security to the insured's family against any type of emergency.
Maturity Benefit or Survival Benefit: In a pure-term insurance plan, no maturity benefit is offered to the insured person if he/she survives the entire policy tenure. However, in Term Return of the Premium Plan (TROP), the survival benefit is offered as the premium return to the insured if he/she survives the entire policy term. In the TROP plan, the total premium paid by the insured to date is returned after the completion of the policy term.
Tax Benefit: The insurance holder can avail of the benefit of tax exemption on the premium paid towards the term insurance policy up to the limit of Rs.1.5 lakhs U/S 80C of the IT Act.
Additional Rider Benefits: Most of the term insurance policies offer additional rider benefits, which can be purchased along with the basic coverage of the plan to enhance the coverage of the policy. There are generally 4 different types of rider options offered by the term insurance plan.
Critical illness rider
Accidental death benefits rider
Waiver of premium rider
Accidental total and partial disability rider
The ideal way to buy term insurance without a medical test is by doing a primary survey of the different life insurance policies accessible in the market.
Next, you need to assess your term insurance policy requirement based on that conduct your primary research in regards to the same. This way, you can zero down the term plan without a medical test.
Here is a list of pointers that you should keep in mind to avoid any inconsistency with the insurance company in the future:
Transparency About Your Medical Condition: Your health condition is an important factor while considering the risks covered through the policy tenure. Thus, if you have a pre-existing illness or any serious medical condition, the chances of getting affected because of an disease is on the higher side, thus increasing the death risk. In case you have not mentioned your health condition, it might create a problem during a claim process.
Let’s consider a case where you have bought a term insurance plan without a medical test. And, if you have a pre-existing heart related illnesses that you might have not informed to the insurer. Imagine if you meet with an unfortunate death because of an illness. In such cases, the claim of your nominee for the death benefit might be rejected because of not reporting the medical situation that led to demise. This is called as insurance fraud case.
Transparency About Your Lifestyle: Lifestyle practices determine your medical conditions. Let’s say, if you’re a chronic smoker, you are more likely to develop cancer that eventually leads to death. In case you have not informed the insurer about smoking, drinking, excessive alcohol consumption habits etc., this can lead to rejection of plan.
Therefore, it is important to disclose all the medical conditions and lifestyle practices to help your loved ones benefit from the term insurance plan.
Less Hassles During Claims
Low Premium Rates
High Sum Assured
Term insurance policy seekers can buy term plan without medical test. However, the life cover will be on the basis of age and family’s medical history. If you decide to buy these term plans, you have to be transparent about your medical situations and lifestyle practices to avoid rejecting the claim.
Also, it is suggested that you assess your term plans without medical tests for low premium rates and high life cover. It is a best decision to disclose your health conditions for gaining financial benefots to protect your family in case of an unfortunate demise.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Annual Renewable Term Insurance (ATR) is tailored for short-term
Read more
The ICICI Pru iProtect Super Plan is a pure-term insurance plan
Read more
Many people wonder about its tax benefits when purchasing a term
Read more
Studying abroad can be a life-changing experience, offering
Read more
The divide between rural and urban lifestyles in Tamil Nadu is
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
