- Term Plans Without Test
- Importance of Medical Tests
- Key Points to Consider
HDFC Term Insurance Without Medical Tests
We have heard that to get term life insurance one must undergo medical tests. But still, few HDFC life-term insurance plans are available that you can buy without undergoing medical health checkups. Three HDFC life-term plans are available without medical tests- HDFC Life Sanchay Legacy, HDFC Life Term With Return of Premium, and Quickprotect by HDFC Life. Buying a term plan without a medical test has certain pros and cons. You must check whether you should buy an HDFC term plan without medical tests or not.
This article will provide you with complete information about the pros and cons of buying a term plan without tests, key points to consider, and necessary medical tests.
HDFC Term Plans Without Medical Tests
Various plans are offered by HDFC Life that require no medical tests.
| Plan Name | Entry Age | Maturity Age | Policy Tenure | Sum Assured | Features |
| HDFC Life Sanchay Legacy | Minimum- 40 Maximum-65 |
Whole life | Whole life | Minimum- 1.25 times of premium Maximum- 10 times of premium |
|
| HDFC Life Term With Return of Premium Plan | Minimum- 18 Maximum- 50 |
- | 10 to 30 years | Minimum- 5 lakhs Maximum- 25 lakhs |
|
| Quickprotect by HDFC Life | Minimum- 18 Maximum- 50 |
75 years | 5 to 40 years | Minimum- 75 lakhs Maximum- 1.25 crores |
|
Importance of Medical Tests for Term Insurance
It is important for both policyholders and insurance companies that while buying a term plan a policyholder undergoes medical tests.
Importance For Policyholders
-
Pay the right premiums
By undergoing medical tests policyholders can pay the right premium amount. Medical tests help insurance companies to assess the risk based on your health conditions. Policyholders can avoid high premiums by undergoing health checkups. -
Avoid hassles during claim processing
If you have purchased an HDFC term plan without medical tests, your family may face hassles while processing claims as the insurer has not discovered the risk associated with insuring you. So you must undergo medical tests to ensure that your family stays protected when they need it the most. -
Determine undiscovered illnesses
Medical tests help you discover illnesses that you are not aware of. When discovered about these illnesses policyholders can take suitable action against them.
Importance For Insurance Companies
-
Assess risk associated
If you undergo medical tests while buying a term plan it helps insurance companies to assess the risk associated with insuring you. -
Charge the right premiums
The medical test reports help insurance companies charge the right premiums from the policyholders. The right premiums ensure that insurance companies cover their future liabilities. -
Avoid fraud
Medical tests ensure the accuracy of the provided information. It helps to avoid any kind of insurance fraud or manipulation on the end of the policyholder and the insurance company.
Advantages and Disadvantages of Buying HDFC Term Insurance Without Medical Tests
Buying term insurance without medical tests has its advantages and disadvantages. We should consider them while making a decision.
| Advantages | Disadvantages |
| Buying HDFC term insurance without medical tests helps to avoid the cost incurred by undergoing various medical tests. | HDFC Life may charge you higher premiums as they didn’t calculate the risk of insuring you. |
| You can buy a term plan without undergoing medical tests ensuring a hassle-free experience. | If you want a term plan without medical tests and a high sum assured then the insurance company may reject your application as they can’t assess the risk associated. |
| Your insurance claim has a lower chance of getting rejected if you undergo a medical test at the time of policy purchase. | HDFC Life may reject your insurance claim in case of your demise with a disease that they are not aware of. |
| Your family gets a larger amount of financial protection in case of your unfortunate demise. | With term plans without medical tests, you only get basic coverage. If you want extensive coverage then you must undergo medical tests. |
Key Pointers to Consider When Buying an HDFC Term Plan Without Medical Tests
You as a policyholder have to consider certain key pointers when buying an HDFC Term Plan Without Medical Tests:
-
Do not hide any health facts while buying a term plan
While buying a term plan you should reveal all the details about your health or medical history. Hiding any important information may lead to the rejection of your insurance claims. -
Go through the terms and conditions of your plan
You must read the terms and conditions of your term plan carefully. If you have any questions or doubts then you can contact HDFC Life through their helpline number to get it resolved. -
Choose the right sum assured
You should choose the right sum assured of your term plan without a medical test to avoid application rejection. Generally, you can buy a term plan without medical tests with a sum assured up to a specific limit. -
Reveal your lifestyle habits
You should reveal your lifestyle habits while buying a term insurance plan without medical tests. If you smoke or consume alcohol then it is necessary to inform the same to HDFC Life. -
Reveal your family health history
While buying an HDFC term plan without medical tests you should reveal your family health history. If there is a history of pre-existing illness then you must inform the same.
Medical Tests Required By HDFC Life For Term Insurance
If you wish to purchase an HDFC Term Plan by undergoing medical tests after considering the advantages then you may be required to undergo the following medical tests:
-
BMI (Body Mass Index) test
This test helps to find whether the policyholder has a healthy body weight to their height. There are various free online tools available to calculate your BMI.
-
Urine test
This test helps to determine the medical conditions related to kidney, diabetes, and other medical issues. You can visit the nearest approved lab to get this test done.
-
Blood test
This test helps to measure the blood count in your body and assess your overall health condition. This is a basic and necessary test required.
-
Blood sugar test
This test helps to determine if the policyholder is suffering from diabetes or other related illnesses. You can get this test done at the nearest approved laboratory.
-
Liver test
This test helps to check illnesses related to the liver or similar conditions. If you consume alcohol this test will help to determine.
-
Kidney test
This test helps to determine the illnesses related to the kidney and if you have a disease that may be a potential threat to you.
-
Lipid profile
This test helps to determine the cholesterol level of your body and determine if you have a related illness or not.
-
Echocardiography
This test helps to find heart-related diseases. It determines the functioning of your heart.
-
X-ray
This test helps to determine the condition of your heart, lungs as well as bones.
-
Ultrasonography
This test helps to determine serious diseases like cancer or any other critical illness you are suffering from.
-
Treadmill test
This test helps to measure heart rate and the level of stress you are undergoing.
-
HIV test
This test helps to check whether the policyholder is HIV positive or not.
-
Comprehensive trail-making test
This test is performed to know the policyholder’s visual attention and balanced view.
* HDFC Life may ask for any other medical tests based on the plan type and the policyholder.
Conclusion
You have clarity on HDFC Term Plans that are available without undergoing medical tests. However, it is advised to undergo medical tests to ensure that you can avail high sum assured and reduce the chances of claim rejection. We have also provided the list of tests you are required to undergo while buying a term plan. If you are still confused about whether you should undergo medical tests or not then you can contact us at PolicyX.com. One of our insurance experts will assist you in choosing the term plan that fits your requirements.
HDFC Term Insurance Without Medical Tests: FAQs
1. Can I purchase an HDFC Life term plan without medical tests?
Yes, you can purchase HDFC Life term plans without medical tests. Three-term plans are available without medical tests: HDFC Life Sanchay Legacy, HDFC Life Term With Return of Premium, and Quickprotect by HDFC Life.
2. What medical tests you are required to undergo while buying an HDFC Life term plan?
You have to undergo various medical tests including BMI, Urine, Blood, Sugar level, Liver, Kidney, X-Ray, Ultrasound, Lipid Profile, Treadmill, and HIV tests.
3. Can I avail of additional riders with the HDFC term plan without medical tests?
No, you cannot avail of additional riders with the HDFC term plan without medical tests.
4. What is the best time to buy a term plan?
You should buy a term plan when you are young as the premium charged would be comparatively low.
5. What problems do people face while undergoing medical tests for term insurance?
Some people hesitate to undergo medical tests while for some people medical tests are time-consuming.
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Written By: Naval Goel
Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.
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