I am 34 years old (non-smoker) and I want to buy an online term plan. I have some doubts:
- Whether the Insurance company will ask for health check or not?
- is it better to declare health issues before accepting the proposal?
- will they reject claims or raise issues in future?
Kindly clarify.
- R Parashar
Online term plans with sum assured below ₹50 lakh do not necessarily require a medical check up. In such cases, only a self-declaration is required. However, insurers might charge a higher premium, as the risk is higher in such cases. Therefore, it is better to go for a health check up. Most companies offer lower premiums if you are willing to undergo a medical test. If you do a medical test, the chances of a future claim getting rejected on medical grounds are minimal.
Based on premium and claim settlement ratio, Aegon Religare iTerm Plan, HDFC Life Click2Protect, Max Life Online Term Plan are recommended to you. These are online term plans. Find out the premiums applicable for your age under all these policies and select the one that suits your budget.
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