5 min read
Updated on Sep 18, 2022
The pandemic has changed the very basic way we used to operate in our day-to-day lives. Remote work has become the new normal and social distancing is way more preferable over social gatherings. Keeping in tune with the trend, insurance companies too are modifying their rules to suit the changing trend. Telemedical checkups are one such step in this direction.
The pandemic effect has been felt in every part of our lives. From the way we carry out our daily lives to the way businesses operate, everything seems to have undergone a change, for the better, of course. Staying in touch with the new “social distancing” way of life, the insurance industry too seems to be fast picking pace with its tele medical checkup facility for customers. Here we talk about tele medical for term insurance and how it can be a helpful tool in the new changing times.
As the name suggests, tele means via telephone. Hence, a telemedical checkup refers to a medical examination with a doctor via a phone call. This substitutes the need for a physical visit to the doctor’s office for a checkup. The person can get the same examination done over a telephonic consultation with the doctor.
Now the question arises, why is there a need for a medical examination in the first place when applying for a term insurance plan? Most insurance companies require their prospective customers to get a thorough medical checkup done before purchasing a term insurance policy.
This is to determine the health status of the person buying the policy. A person with no medical history or health problems is likely to receive the benefit of high coverage and low premium owing to the lower risk involved. Besides this, a medical checkup helps determine any pre-existing health conditions for the patient before he/she decides to purchase term life insurance.
The medical test required by the insurance company essentially covers a few basic tests to ensure that the person is physically fit and healthy at the time of purchasing an insurance plan. Some of these tests include measurement of height and weight, cholesterol test, urine test, differential count, HIV I and II tests, fasting plasma glucose test, and complete blood count (CBC) test.
As mentioned earlier, a telemedical checkup refers to a consultation with the doctor over telephone instead of physically visiting their clinic. During this teleconsultation, the person undergoing the medical examination, or the life assured in the case of term insurance, communicates all vital details about their health to the doctor over a phone call.
The person is required to disclose complete information to the doctor with regard to any health conditions that they currently have or had in the past. Besides, the doctor may also inquire about the person’s family medical history to understand how likely the person is to have the same medical condition.
All these details are discussed over telephone at a time pre-determined between the doctor and the prospective policyholder, as per both of their convenience. Based on the details gathered by the doctor and submitted to the insurance company, the latter decides whether or not to issue the term insurance policy to the prospect.
Also note that in case any of these details turn out to be false or misleading, the insurer has every right to reject the insurance application for the applicant. This is regardless of whether or not the medical examination was done physically or via a telemedical consultation.
With telemedical examinations being conducted for term insurance plans, NRIs can now easily opt for a term insurance plan in India without having to actually visit the country for a physical medical checkup. This can now simply be done over a telephonic or video consultation with a doctor in India sitting in any part of the world.
Along with a telemedical checkup, NRIs can also easily opt for a term insurance plan online. They can choose the one that best suits their medical needs and complete all the necessary formalities online. This way NRIs can continue to enjoy the benefits of an affordable term insurance plan in India from any part of the world.
We discussed above the facility of a telemedical checkup for term insurance plans that has been made possible during the pandemic times. But why do we need term insurance in the first place?
Buying term insurance is one of the wisest decisions you can make in your life. It is a guarantee that your loved ones will be protected in your absence, in the event of your death. A term insurance policy offers financial protection to your family, ensuring that all of their life goals and activities continue even after you’re gone.
It is always a good idea to buy term insurance when you’re younger in order to enjoy benefits like higher coverage and lower premium rates. PayBima offers term insurance plans to financially secure your family and loved ones in your absence. You can choose the one that best suits your requirement and guarantee a life of financial security and comfort for your family.
The COVID-19 pandemic taught us a lot of valuable life lessons. Securing ourselves and being prepared for an uncertain future was definitely one of them. This is why it makes sense to buy term life insurance at the right time, preparing your family for life’s uncertainties in your absence.
Medical checkup is a requirement by most insurance companies before allowing an applicant to buy a term insurance plan. With social distancing as the new preferable norm, telemedical checkups are soon picking up trend, allowing convenience to people for getting medical examination done from the comfort of their homes.
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PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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