SUBSCRIBE NEWSLETTER
  • Change Language
  • English
  • Hindi
  • Marathi
  • Gujarati
  • Punjabi
  • Tamil
  • Telugu
  • Bengali
  • News From Press Insurers look at past medical history, not weight record, when deciding premiums

    Insurers look at past medical history, not weight record, when deciding premiums

    Source: Mint Jun 12, 2018

    I had bought my policy about 3 years ago. But my medical conditions have changed—I was obese, but have managed to bring down my weight to within reasonable limits. If I bring this to the notice of my insurer, will they re-examine my case and change the premium? If they don’t reduce my premium, can I go to another insurer? If I go to another insurer, will only the current conditions be considered or the past facts will also matter? —Akshat Mehta

    Life insurance policies are long term in nature. The conditions of these policies cannot be changed mid-term. So, your improving health will have no bearing on your existing policy. It is likely that at the time of underwriting of your first policy, you were charged a loading on standard premium. If you approach another insurer now, they will not charge you that additional loading. A new insurer would do fresh underwriting, and look at your new medical reports. They will not look at your past weight record. Only your past medical history, if any, will be considered.

    Click here to read more>>

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

    Click to clap
    Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.
    0 Comment
    Be the first to comment.
    Login or Sign up to post comments.
    More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

    Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.