How Much Term Life Insurance Can I Get in India Without Medical Examination?

Term Life Insurance Limits in India Without a Medical Exam

Many people nowadays buy term life policies without medical checks. Instead, the insurer uses information from health questionnaires, personal medical history, and other sources, such as prescription records, to determine eligibility. They are easy to obtain and can provide insurance coverage with minimum delays. However, have you ever wondered how much coverage you can get from term insurance plans that do not require medical examination? 

Term Insurance Coverage Limits Without a Medical Exam

In India, the term life insurance one can avail of without a medical test ranges between ₹25 lakh and ₹1 crore. It depends on the individual's age, health condition, and other factors and terms offered by the various insurers.

Key Factors That Affect Coverage

●Age: Younger applicants would be eligible for increased coverage with no medical exam. People between their 30s and early 40s may get up to ₹1 crore with decent coverage. However, in the case of higher age groups, insurers do not provide increased coverage without a medical exam.
●Health Status: Insurance companies judge your health based on a medical questionnaire. A healthy person has a higher possibility of getting maximum coverage limits. People with existing conditions are offered lower limits or higher premiums.
●Policy Type: There are two types of no-medical exam policies. These include Simplified issues and Guaranteed issues. Simplified issue policies generally offer coverage ranging from ₹25 lakh to ₹1 crore. Guaranteed issue policies, on the other hand, offer lower coverage amounts that may vary from ₹5 lakh to ₹10 lakh.

Qualifying for No-Medical-Exam Term Life Insurance

To qualify for term life insurance without a medical exam in India, you'll need to satisfy the following criteria:

●Age: All insurers have an upper age limit for no-medical-exam policies, generally 60-65 years.
●Health Questions: You will be required to fill out a health questionnaire in which you will be asked about your medical history, medications, lifestyle (whether you smoke or drink), and any existing condition.
●Coverage Amount: For a higher coverage, you may need to undergo a medical exam. In general, coverage limits of ₹50 lakh and above would require additional health tests.

Benefits and Drawbacks of No-Medical-Exam Life Insurance
 

Benefits :
●Quick and Easy: No medical tests are necessary for the application process.
●Convenience: Suitable for people who do not like or cannot take medical examinations.
●Access for Those with Pre-existing Conditions: Policies issued provide coverage for pre-existing health conditions, although after a specific waiting period.

Drawbacks:
●High Premiums: Premiums are on the higher side as the insurance underwriters cannot fully ascertain your health condition.
●Low Limits of Coverage: The coverage is always limited compared to a fully underwritten policy.

Despite their fair share of pros and cons, no-medical-exam term life plans can be highly beneficial for individuals seeking insurance coverage without any hassles. Similar to such plans, Star Health offers a wide range of health insurance policies that do not require pre-medical checkups.  

So, when searching for no-medical-exam term life insurance plans, consider opting for such a plan from Star Health to get the dual benefits of life and health insurance.