 "Do term cover buyers compulsorily have to undergo medical tests?")
The decision depends on your profile and the sum assured. If you are young, have an income of Rs 10 lakh and are buying an online cover of up to Rs 25-30 lakh, you may not have to undergo medical tests. But if the sum assured is Rs 60-70 lakh, you will be required to undergo tests. If you are found to have a condition like obesity, diabetes or hypertension, the insurer may increase the premium.
Do financial and educational status matter?
Your earnings determine the sum assured you are eligible for. The loading of premium rules may be relaxed for those in the higher income bracket on the premise that they can afford good healthcare facilities. Your educational qualification also has an effect on how much sum assured you can get, the premise being that education determines earning ability.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%