Is Pre-Medical Check Up Really Essential
In India, we know that a few people avoid medical health insurance plan just because they have to undergo a pre-medical check-up and hence they become wary of the same. The need to buy a health plan for financial protection is going down as a result and an unexplainable tension about pre-medical checkup is rising.
In maximum cases, it is observed that people avoid medical check-up just because of lack of information. We recognize the fact that clinical examinations may be required while buying the policy, however, do we know why is this required? What are the outcomes of such examination? For the ones ignorant of pre-policy clinical examinations, right here’s a brief manual.
What are Pre-policy Purchase Medical Examinations?
Medical insurance companies in India require a customer to undergo a medical check-up before a company grants the policy. These tests are needed if the consumer is of a certain age, wherein the examination is obligatory, or if he had opted for a better amount of insurance that will provide a greater coverage to him. The insurers generally ask for a medical check-up if the applicant is above forty or 45 years of age, or if the coverage amount is above Rs. 8-10 lakhs. It may additionally be required if an applicant above the age restriction applies for a higher coverage i.e. of a higher sum assured amount. The checks are performed in a medical institution having a tie-up with the insurer.
What Sort of Assessment Is Carried Out?
Insurers have distinctive underwriting (risk evaluation) rules to examine the medical emergencies. They have a grid, which specifies the medical checkup to be carried out. This grid has parameters – age and the amount of coverage opted for. The better the age and the insurance amount, the higher is the quantity of tests required. Some common checks consist of fasting blood sugar, blood strain, entire blood matter, ECG, urine analysis, lipid profile, blood serum check and so on.
Who Bears the Price of an Exam?
As consistent with the rules laid down by the insurance Regulatory and Development Authority of India (IRDA), the coverage is meant to endure a minimum 50% of the value of medical tests. But, many insurers have taken up the initiative to lower the monetary burden on the client by means of bearing the complete price of such pre-policy medical check-ups. Some plans additionally have the conditions that the consumer will initially have to endure the medical check up prices; and after the policy is in force, either 50% or 100% of the cost of the check-up is reimbursed.
How Will You Know The Company’s Decision?
The insurance company contacts the prospective customer once the results of the medical tests are analysed. If the customer is free of any medical complications, then the company proposes an insurance policy to the customer and sends the file to the customer. If the customer accepts the conditions laid down through the company, he can sign the letter acknowledging the settlement, sending it back to the insurer.
In the case of rejection of the application, the agency sends a letter to the consumer, pointing out the truth and the applicable reasons behind the rejection.
Undergoing a medical check up is easy and it would even tell you about your ailments, if any. A higher premium will benefit you ultimately in the shape of greater amount at the time of claim settlement.