We are all aware of the importance of health insurance to protect us from exorbitant hospital bills rising from serious illness and sudden medical emergencies. Buying a mediclaim or health insurance policy also enables us to save on tax under Section 80D. However, filing for claims from the insurance provider can prove a cumbersome process. This is where a pre-policy medical checkup becomes helpful.
A pre-policy medical examination refers to the tests that one has to undergo before the health cover is provided by the insurance company. It is recommended to get tests such as measurement of blood pressure, ECG, lipid profile, blood serum, complete blood count, blood sugar, etc, done from a reliable centre like SRL Diagnostics to get a realistic assessment of one’s health. While many policies do not mandate pre-policy health checkups, especially for those under the age of 40 to 45 years, it is highly recommended to avoid the possibility of rejected claims in future. The tests gauge a potential policyholder’s medical fitness and any pre-existing medical conditions. A pre-policy check is also required if one chooses a higher Sum Assured, such as Rs 10 lakhs or above, to minimise the risk of the insurer.
The tax deduction can be availed by an individual from their total income on medical insurance premiums paid in any given financial year for self, spouse, dependent children and parents, under Section 80D for a limit of Rs 25,000 for individuals and Rs 50,000 for senior citizens.
Besides allowing the insurance company to determine the premium amount, it is critical in helping you understand your medical profile and address any potential health risks or critical conditions, especially if you undergo the tests at a reliable centre such as SRL DIagnostics. A positive medical profile serves in preventing you from paying hefty premiums, which is the norm for high-risk applicants.
Getting a pre-policy medical check helps in determining whether you fall under a high or low-risk profile. A reliable medical assessment will help you pick the right amount of coverage for medical expenses that you may foresee in the near future. Most importantly, a pre-policy medical check gets rid of any grey areas when it comes to the claims process. If an insurer can prove that an illness was the result of a pre-existing condition that was not disclosed, your claim could be rejected, but documentation of your pre-policy medical history will work in your favour.
Your health insurance provider will determine the type of medical tests that are required, taking your age and potential coverage into consideration. The tests may include blood pressure, ECG, lipid profile test, blood serum test, complete blood count and blood sugar. It is recommended to get the tests done at a trusted centre such as SRL Diagnostics.
Therefore, a medical examination before buying health insurance is highly recommended to prevent you from paying hefty health insurance premiums and prepare you for any potential health risks.