Trade logo displayed belongs to Max Financial Services Ltd. Tax benefits are subject to changes in tax laws. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. Online Helpline - 01 (09:00 AM to 09:00 PM Monday to Saturday).Įmail ids: *Life insurance coverage is available in this product. 90-A UdyogVihar, Sector 18, Gurugram (Haryana) - 122015.Ĭustomer Helpline: 18 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply. Operation Center : Max Life Insurance Co. 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002. Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.Ĭorporate Office : Max Life Insurance Co. Before undergoing a term insurance medical test, it is advisable that you thoroughly research about the benefits of the available term insurance plans and use an online term insurance calculator to estimate the premium payable for the desired Sum Assured.Īll Rights Reserved. The insurance policies that do not require any medical test for term insurance in India usually offer a lower Sum Assured, which, may often prove to be inadequate in covering your family financially. The term insurance medical test can help you avail of a higher amount of Sum Assured if your results are relatively healthy. The Sum Assured is the amount of insurance benefit money thatyour family receives, in case of an unfortunate event taking place during the term policy tenure. Sum AssuredĪnother aspect of the term insurance policy that is affected by the term insurance medical test results is the Sum Assured. Subsequently, you may have to pay a higher amount of premium your desired coverage. On the other hand, if the term insurance medical test identifies any pre-existing medical conditions, the risk factor associated with you becomes higher. If you are in peak physical health, then your premium payable will be low. Therefore, the insurer must determine your existing physical health condition before they can determine what will be the appropriate quotation for the premium payable towards the plan. The life insurance business model works based on the overall risk perception of an applicant. The primary goal of the insurance provider is to calculate the amount of premium payable towards your term plan. Let us look at some policy attributes that get affected by the results of a term plan medical test: 1. The terms and conditions for life insurance plans, primarily term insurance, are determined based on the results of the term insurance medical test that the insurance company asks you to undergo. Subsequently, the insurer can proceed to create a personalized term insurance coverage – complete with maximal coverage tenure, optimal rates of premium payable and host of other policy benefits.
The primary purpose of any term insurance medical test in India is for the insurance provider to know everything about a term plan applicant’s health.
Factors Affected by Term Insurance Medical Test
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