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Our fast-paced world has made everything, including insurance, more convenient. Previously, insurance companies would request physical medical checkups before issuing a term plan. Today, individuals looking to purchase term insurance can get their policy without a full checkup. Instead, many insurance companies offer telemedical checkups, on the basis of which they issue the policy. Let’s explore the significance of telemedical checkups and understand why they are becoming increasingly popular.
Before going any further, let’s better understand term insurance policies. These plans offer life insurance coverage for a specific tenure or term. Term policies help you secure your family’s future against life’s uncertainties.
Telemedicine is a term coined by combining telecommunications and medicine. It refers to remote diagnosis and treatment of patients through various communication tools like video calls, phone calls, or even emails. Telemedical checkups are an essential part of the insurance world today. They offer a secure and efficient way to assess a policyholder’s health status without in-person medical examinations.
Medical checkups for term plans help insurance companies determine a policyholder’s eligibility and premium rates. Insurance companies use these examinations to assess an individual’s health condition. Their medical background directly impacts the insurance policy’s terms and costs. These checks help insurance providers mitigate their risks and make informed decisions about underwriting a policy.
Without proper medical checks, an insurance company may rely solely on self-disclosed information from the policyholder. Telemedical checkups ask directed questions to ensure they receive all the required health data from the individual. Through the conversation, they ensure that insurers receive accurate and up-to-date information.
A standard medical checkup for term insurance typically includes a range of tests and evaluations. These tests often encompass blood pressure readings, cholesterol levels, glucose levels, body mass index (BMI), and other health-related measurements. Additionally, insurance companies will evaluate the individual’s medical history, lifestyle choices, and family medical history.
The tests help identify any pre-existing health conditions or potential risks that may affect the policyholder’s ability to make a claim in the future. It’s important to note that the specific tests and their comprehensiveness may vary from one insurance provider to another.
Telemedical checkups have simplified the process of getting insured. Instead of scheduling an appointment and visiting a medical facility, policyholders can now complete medical evaluations from their homes. Here’s how it works:
Telemedical checkups are particularly advantageous for Non-Resident Indians (NRIs). NRIs often face challenges while undergoing medical checkups for insurance purposes. They may not be physically present in India or have limited access to local medical facilities.
With telemedical checkups, NRIs can efficiently complete the necessary health assessments while residing outside India. The convenience eliminates the need for extensive travel. It also helps NRIs secure term insurance coverage to protect their loved ones in India.
Term insurance offers a secure way to provide financial protection for your family in case of an unfortunate event. Here are some compelling reasons why you need term insurance:
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* Tax benefits are subject to conditions under Sections 80C, & Section 10(10D) and other provisions of the Income Tax Act, 1961. Tax Laws are subject to change from time to time.