Term Insurance Without Medical Check Up in India

Term insurance is important considering the uncertainties of life. In the world of actualities, eventualities are something, which does not come with prior information. There is simply no guarantee of what would happen next? However, each one of us needs to protect your loved ones in case of any adversities that would affect them in case you are not around.

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This is when having a term insurance policy comes into the picture and takes care of your family even when you are not around and provide them with financial security and stability.

Term Insurance Without Medical Test

There are many life insurance providers, which offer term insurance without medical tests. In the term plan without medical test, the insurance holder does not require to go through any medical screening while purchasing the policy. The insurance company can allow the policyholder to purchase the term plan without medical test considering the policyholder’s age and the sum assured amount chosen by them. However, in case the insurance buyer has any type of pre-existing medical problems or illnesses then he/she will have to give the medical exam while buying the policy.

Is Term Life Insurance Worth It?

Yes, having a 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 upon your age and health conditions.

The prudent aspect of any term insurance plan is deciding on the sum assured. You have the alternative either to 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 somewhere between 5-30 years. Besides, the policy offers complete risk cover to the insured, therefore, in case of demise of the insured, a death benefit is provided during the policy term.

There are a wide array of aspects such as living style, the 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 the term life insurance plan.

There was a time when buying term insurance policy required a pre-medical screening. However, today you can easily buy term insurance without a medical test.

Why buy Term Insurance early?

Your premium is decided on age at which you buy the policy and remains same, throughout your life

Premiums can increase between 4-8% each year after your Birthday

Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease

See how age affects Term Insurance Premiums
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Key Features of Term Insurance Plans

The following are the key features of term insurance plan:

Parameters Features
Free-look Period
  • 15 days in case the policy is purchased manually
  • 30 days in case the policy is purchased online
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 policy
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 on the basis of 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)

Term Insurance Plans Benefits

There are many different benefits offered by term insurance plan. 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 equal to the total sum assured amount is paid to the beneficiary of the policy.  The term insurance plan ensures financial security to the family of the insured against any type of emergencies.

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 tenure of the policy. However, in Term Return of the Premium Plan (TROP), the survival benefit is offered as the return of premium to the insured in case he/she survives the entire policy term. In TROP plan total premium paid by the insured till date is returned back after the completion of the policy term.

Tax Benefit: The insurance holder can avail 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 the benefit of 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 option offered by the term insurance plan.

  • Critical illness rider
  • Accidental death benefit rider
  • Waiver of premium rider
  • Accidental total and partial disability rider

Is It Possible to Buy a Term Insurance Without Medical Test?

Yes, in case you are looking forward to buying a term plan without a medical test, then it is possible to do so.

There are different insurance companies in India, which offers term life insurance without medical check up plans that you might consider to make the purchase decision.

Essentially, it depends upon the individual's age and the cover you are looking forward to, which decides whether you need to undergo a medical screening or not. However, it is to be duly noted that in case you have any pre-existing ailments or any sort of chronic ailment possibly you would need to undergo a medical screening without a fail.

Therefore, it is advisable that while you buy term insurance without medical test required, invest time to do the research, compare different term insurance quotes offered by various insurance providers. Besides, make it a thumb rule to read and re-read the fine print of the policy and accordingly make your final call specifically when you are buying term life insurance without no medical test.

How to Opt Term Insurance Without Medical Test?

The ideal way to buy a term insurance without medical test is 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 will be able to zero down the term plan without a medical test.

Important Aspects to be Considered While Buying Term Plan Without Medical Test

  • No False Information: This is one of the most prominent aspects while buying any sort of insurance. When buying term life insurance without a medical check up, always provide the correct information. In case you have any sort of pre-existing or chronic illness neither lie or hide any such information from the provider. On a short-term perspective, hiding any relevant information from the insurance provider might seem an easy option, however, in case of occurrence of any adversities, it could create a big financial loss.
  • Lifestyle Habits: This is another prudent aspect wherein the insurance provider may increase the premium amount in case you smoke regularly. However, the death benefit claim will not dwindle.

Term Insurance Plans Without Medical Test in India

Listed below are some of the term plans that you should consider to buy a term life insurance with no medical exam:

Future Generali Smart Life: Future Generali Smart Life is one of its kind wherein the nominee ideally receives the sum assured when the insured passes away during the policy tenure. Up to an age of 45 or so and up to a specified sum assured, any medical screening is not required

MetLife Term Insurance Plan: Under MetLife Term Insurance Plan the applicants within certain plans up to a specified limit one need not go through any sort of medical screening.

ICICI Pru ICare Term Plan: The ICICI Pru ICare Term Plan proceeds with a pocket-friendly premium amount. Besides, you have the alternatives of both Single pay as well as regular pay. The ICICI Pru ICare Term Plan does not require any medical screening.

LIC Tech Term Plan: You can benefit from the LIC Tech Term Plan wherein you do not need to undergo any medical check up subject to meeting the specified conditions in the policy document.

HDFC Click 2Protect Plus Plan: The HDFC term insurance plans give a major advantage wherein you can enhance the protection of the plan under certain specified milestones like a marriage, or a child-birth, etc. and without undergoing any medical test to enhance the coverage.

It is highly recommended to buy a term life insurance policy and ensure the financial safety of your dependents even when you are not around. Besides, speak to the insurer in case of any query related to the medical screening or any other details.

In the below grid, is a list of term insurance companies that you might consider, and buy a term insurance policy, which fulfils your requirements the best:

  • Aditya Birla Sun Life Term Insurance Plans
  • Aviva Term Insurance Plans
  • Bajaj Allianz Term Insurance Plans
  • Bharti AXA Term Insurance Plans
  • Canara HSBC Term Insurance Plans
  • Edelweiss Tokio Term Insurance Plans
  • Exide Life Term Insurance Plans
  • Future Generali Term Insurance Plans
  • HDFC Life Term Insurance Plans
  • ICICI Prudential Term Insurance Plans
  • IDBI Federal Term Insurance Plans
  • IndiaFirst Term Insurance Plans
  • Kotak Life Term Insurance Plans
  • Max Life Term Plans
  • PNB MetLife Term Plans
  • Pramerica Life Term Insurance Plans
  • Sahara Life Term Plans
  • SBI Life Term Plans
  • Shriram Life Term Plans
  • Star Union Term Plans
  • TATA AIA Term Plans

Disclaimer: “Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

How to Choose Term Life Insurance Without Medical Test?

The policy buyers can choose the term life insurance without medical test by doing a simple online comparison of various term life insurance plans available in the market. Moreover, it is also important to know how much coverage one should choose to skip medical screening. It is advised that one should purchase a term insurance plan while being young and choose a higher sum assured amount as the insurance company allows the policyholder to purchase the term plan without medical test considering the policyholder’s age and the higher sum assured amount chosen by them.

With the increase in cases of novel coronavirus the importance of having a coronavirus term insurance has to be need of the hour. In the current scenario, having the right type of life insurance policy is a blessing in disguise and will be at your rescue even at the devastating situation like a novel coronavirus. Moreover, with the global health crisis like COVID-19 possible, the premium of your policy will be slightly affected, however, nothing is more important than one's safety and health. Likewise, before you zero down the insurance policy it is indeed better to read and re-read the blueprint of the policy schedule and get in touch with your insurance provider and discuss your queries accordingly.

Wrapping It Up

It should be duly noted that buying adequate term insurance policy is an essential component of financial planning.

No medical term life insurance policies can easily be bought and your family can remain protected at affordable rates. Remain the back up of your family even when you are physically not around.

With buying the correct term insurance policy you will be able to protect your family and secure their dreams.

Term Insurance Without Medical Test - FAQs

Q1. Is buying a term insurance policy a good idea?

Ans: Buying a term insurance policy is beneficial as it secures your family financially in case of your untimely demise. Even in the absence of the breadwinner, the term insurance policy will take care of the financial needs.

Q2. Which is the best term insurance plan in India?

Ans: Any insurance provider, which fulfils your requirements, you may buy the policy from them. Mentioned-above in the table is the list of term insurance providers that you may consider to reach any decision.

Q3. I am looking forward to buying term insurance without a medical check up. Is this possible?

Ans: Yes, buying a term life insurance without a medical test is possible. You need to check with the specific term insurance companies in regards to the same and zero down the suitable plan.

Q4. I have a pre-existing disease. Will I be able to buy a term plan without medical?

Ans: When buying a term insurance policy, it is better to disclose your medical health conditions to your insurer. Besides, do not hide any relevant information from the insurer as the insurer is the right person to guide you through the policy and help you make the final decision.

Written By: PolicyBazaar
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