The Risk Of Claim Rejection Is Also High

Some diseases like diabetes and hypertension are known as silent killers, and there is a good chance that people with borderline disease may not be aware of their medical conditi-on. Any small evidence of fraud or suppression of a pre-existing disease will lead to a complete denial of claim, even in future.If you are having any pre-existing disease, you are expected to disclose it in your declaration and your premium will be fixed accordingly. Some companies even insist medical check-ups for those above 35 years.Thinking one can get away by hiding their existing diseases or save time by not opting for a medical test would only be detrimental for the future.But recently, a couple of private health insurance companies have come up with products that require no pre-policy medical check-ups.

A policy that comes with a mandatory pre-policy medical check will come at a lower premium as compared to a policy without the need of a medical. By eliminating the pre-policy medical test and relying on self-declaration of policyholders, insurance companies save time and money.How pre-policy medical check-up can be advantageous insteadInstead of choosing a policy that comes with no pre-policy medical, you are better off opting for one with a medical test beforehand. Such policies more expensive,and the risk of claim rejection is also high.Most insurance providers insist on pre-policy check-ups for first-time policy buyers above the age of 40 -45 years. On an average, a pre-policy medical can cost anywhere between Rs 3,000 to Rs 5,000 for each individual.

This was good news for many people who are in their quest to get a policy without having to spend time undergoing a medical checkup.com.Is it good to consider such policies and do they have any apparent advantages Here is a look at everything you should know about policies requiring no pre-policy medical check-up. But even an unintentional wrong declaration can go against you and your claim will be rejected by the insurance company.Why do companies come up with such policies If opting for a policy without a mandatory pre-policy medical comes with so many negatives, why do insurance companies offer them The reason is that insurance companies are able to save costs of medical examination for each policyholder. For example, if your pre-policy medical test clears you of any disease and you file the claim for that disease at a later stage, the insurance company cannot deny your claim on the ground that sport tape it was a pre-existing one or the medical tests were inconclusive.