Term Plan – Handling medical discrepancies

POSTED BY Prabhu Ravichandran ON July 4, 2013 10:09 am COMMENTS (4)

I recently applied for the iTerm plan from Aegon Religare. After the medicals, they have come up with a revised quote, citing elevated blood sugar levels. As is the norm, I was quite surprised as I take efforts to keep myself healthy. I’m non-smoker and non-drinker as well. On their part, they have shared the lab report.

While I wait for the second opinion, here are some questions:

1) If indeed my blood sugar levels are elevated, but I get it under control in the next 3-6 months, can I apply to the same Insurance company citing all this history? This is, after cancelling this policy. Will this have an impact in the future?

2) I accept the revised premium, which is almost double of the quote without the increased blood sugar levels. If this is temporary condition and I get it under
   control in the next 6 months, is there a possibility of getting a medical again and hope to get a revised premium for the subsequent premiums? Is this even possible?

3) On the other side, if the levels are found to be normal in my second tests, how do I convince them about this? Can I offer to undergo another test at my expense at
   the lab designated by them?

Thanks for your answers, in advance.

Regards,
Prabhu

4 replies on this article “Term Plan – Handling medical discrepancies”

  1. Nikhil Verma says:
    July 6, 2013 at 12:31 pm

    Dear Prabhu,

    I’ll suggest that you get some more check-ups done on your own to be clear if you have diabetes.

    If everything comes normal then I’ll suggest either ask the company to have the test done again or cancel the application, generally if you cancel the policy in proposal status you will get full refund. That’s what had happened with me during ICICI pru life insurance.

    After getting the proposal cancelled apply in some other company and hopefully the premium will not be revised. But do mention in that application about your religare policy cancellation.

    Regards,
    Nikhil

    Reply
    1. Prabhu Ravichandran says:
      July 8, 2013 at 10:32 am

      Thank you very much Nikhil.

      Reply
  2. Ashal Jauhari says:
    July 4, 2013 at 10:40 am

    Dear Prabhu, if your current Blood sugar level is higher than normal range, it’s going to impact your medical report & ‘ll impact your prem. also no matter you contact any Insurer. Regarding corective action for maintaining your health for next 6 months & reapplying, are you sure that nothing ‘ll happen to you in next 6 months? think over it.

    if it’s a case of wrong lab report, you can demand a second medical for your satisfaction.

    Thanks

    Ashal

    Reply
    1. Prabhu Ravichandran says:
      July 4, 2013 at 9:34 pm

      Ashal,

      “Regarding corective action for maintaining your health for next 6 months & reapplying, are you sure that nothing ‘ll happen to you in next 6 months? think over it.”

      Point taken. I have more clarity now.

      Thanks always for your excellent service rendered to this community.

      Reply

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