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From getting normal to using sanitizers and masks in our everyday lives to working from home, this pandemic has changed a lot. Additionally, term life insurers have changed their policy rules and regulations to follow the government guidelines strictly.
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Various insurance companies have started tele-medical facilities for prospective buyers, where the term and medical policies can be availed through tests/check-ups over the phone in place of physical consultations with experts/Doctors.
Earlier, the process requires a customer to visit a doctor and get a standard check-up done. This will now be replaced by a doctor who gives you a consultation over a telephonic call asking about your medical details such as prescription history and previous diseases for a term insurance plan.
This article discusses tele-medical examination in detail, but first, let’s understand the medical examination and its advantages.
A medical test is compulsory when it comes to purchasing a term insurance plan. The main aim of the medical test is to find the complete condition of your health so that the insurance company can search for the term plan for you. These tests may involve a blood test, physical and medical history, urine test, etc.
Note: Know what is term insurance first and then buy a term plan for your loved ones.
The medical examination includes height and weight measurements for Body Mass Index (BMI), complete blood count, urine tests, cholesterol, fasting plasma glucose, HIV, and differential count. In addition to this, additional examinations can be conducted according to your sum assured, age, type of term plan you want to purchase, and family history of illnesses.
A Tele-medical checkup should be done using a phone call with the doctor instead of physical consultations. The policyholder is required to provide all the details about his/her family history of the illnesses, any pre-existing ailment, and prescriptions of the previous ailments over the phone made at the pre-specified time.
The insurance company can reject the processing application if in case the disclosed information is found to be false. This online facility helps to make sure the continuity of the insurance plans without exposing doctors and policy buyers to the COVID-19 virus.
A term insurance plan with a tele-medical examination can help a healthy individual get the right plan with high life cover at low rates of premium. Additionally, test also provides detailed information about the health and medical conditions of an individual.
Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying the plan.
Geographical boundaries are no longer a barrier if you want to opt for the benefits of purchasing a term insurance plan in India. NRIs can now buy plans that allow them to schedule a video or tele-medical check-up from their residential country.
At the time of the pandemic, the norms of underwriting were tightened and customers were required to undergo a physical medical test. The coverage amounts have been capped. So, now with all the relaxed rules and regulations, NRIs can receive large covers along with tele-medical tests instead of physical examination to make term plan protection more feasible for NRIs around the world. NRIs can buy these plans online, selecting the one that suits their requirements after filling out an application form.
Simply put, if you are an NRI having a term plan in India which is affordable and provides guaranteed benefits irrespective of your home country, will financially secure your family. Also, it is recommended to read the T&Cs carefully before signing the policy documents.
With the world under lockdown to slow the COVID-19 outbreak, insurance companies along with the Policybazaar have increased their remote services, including examining customer applications and succeeding consultations with doctors over the phone. Undergoing a term insurance medical examination in India can help you get the best possible insurance coverage that will help you in the long run.
So, you should get a term life insurance policy to financially protect your loved ones in case you die. This way, they will have enough money to live on and work towards their own financial goals without worrying about instability.
Note: Check out the term insurance plan in India and choose one that suits your requirements.
†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
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