*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
Health insurance plans are blessing for paying your hospital bills in the times of distress. Like other insurance policies, it is available in a lot of schemes ensuring a complete and critical illness cover. With the outbreak in diseases and chronic health issues, the culture of health-insurance is prevailing in the society. However, the insurance companies are taking steps to regulate it on their behalf by conducting pre-policy medical checkups, a series of medical tests to gauge the health status of a person.
The check-up is conducted by the insurance company to draw out the risk factors before providing insurance to an individual. These are conducted if the person asking for insurance is more than a particular age, usually, 40 years or above or if the value is more than the average amount. There are a variety of criteria to provide policy cover to a client, depending on age, gender, and money input. However, the usual tests include a blood test, serum test, ECG, blood sugar, blood pressure, lipid profile, and blood count, among other generic tests.
These days, with the rise in competition among different policy firms, the companies are paying for the tests to attract customers. Either they pay-before-hand (entirely or some part of it) or pay after the deal is cracked, either way giving incentives to the customer. Through the tests, policyholders indeed get an insight into their health and thus take necessary care.
From the perspective of the company, the tests act as a paradigm against which the company can understand the situation and decide accordingly. Any pre-insurance illness would be revealed through the test and in this way, the policyholder cannot exploit the company's rights.
Also, it gets easier to file a claim for both the company and the individual. The chances for unfavorable results and unjust claims are reduced due to the efficient paperwork and these pre-medical tests as a witness.
Under the company's policy proposals and other terms and conditions, if the test shows any prolonged illness or deadly disorder, the company can sort out the issue by taking one of these steps-
Also, if someone hides a condition intentionally and the company discovers it at a later stage, it has the right to reject the policy and dismisses the claim in such a case.
For the clients, the medical test does seem a fuss. It is always the gathering up of courage whenever you step inside the hospital as to what if I have this or that, our hypochondriac self. Moreover, it is considered as a hurdle by anybody with already existing health issues because of the harsh policies of the company. But unless you don't come out, don’t give in to the risks, how can you even enjoy the benefits? Insurance agents also believe that medical check-ups sum up the conditions imposed for both the insurer and the client. Sudhir Sarnobat, CEO, Medimanage.com, says that it is always good to go for medical check-ups because it provides you an update on the health and gives a reference point to the insurance providers.
The Final Words - Health is a wealth
We all earn to keep ourselves healthy, fit, and sound. Loss of health is not negotiable. We can’t compromise with it as health is the most important pillar to keep us going. Health insurance is certainly a good measure to have a shield to guard your family and reduce stress during unlikely times, but it completely depends on you how you make out of it. With commercialization setting in and people fooling agencies by concealing their illness, it has become a necessary step on the part of companies to put a pre-medical test. Be fair; be wise; your health is in your hands.