Different insurance providers in India have different terms and conditions for determining the individual’s eligibility for an insurance policy. One of the common factors among all of them is the medical history. In addition to the personal illnesses and injuries, many insurers also ask for family medical history. This is because there is a direct correlation between the family health profile and insurance coverage. Let us take a look at the same.
How does Family Medical History Impact Life Insurance
One of the major reasons behind why family history is an important factor insurance companies is due to different hereditary conditions. With more and more people suffering from hereditary problems like cholesterol, diabetes and coronary heart problems, there is a possibility that you may get affected in the future. If there is any person suffering from such a condition, you have to provide the information regarding how many members are suffering from it. The age that they were diagnosed with the same is also needed. You would also be required to go through a mandatory medical test. If there is a single person in the family suffering from the disease, it would have a minimal impact on your life insurance policy.
Other reasons for family history
Through hereditary diseases are an important aspect of family history, there are two other factors that can affect your mortality risk.
- Average family lifespan: There is a certain medical belief that if your parents have died at an early age due to some critical illness, then you are at risk too.
- Family environment: The living conditions of your family are a major catalyst in deciding your susceptibility to grave diseases. Those living in an unhealthy environment may be more prone to infections and various other diseases.
List of illnesses that are checked in family history
Though most of the companies consider the following diseases when deciding premiums, not all diseases have the same impact. While some consider diabetes to be a serious health condition, another insurance company might not do the same. Many insurers also tend to deny a life insurance policy to someone whose family history is inundated with serious illnesses. However, there may still consider you if you are in perfect health and lead a fit and healthy lifestyle.
- Heart diseases
- Kidney related diseases
- Lung diseases
Never ever Hide family history
There are many people who hide their family history if there believe that it may cause a rejection or a higher premium. However, eventually the insurance companies come to know about the same. It may also become evident in case any claim is made by the nominees. This hiding of family history may also result in rejection of the death claim putting the loved ones in jeopardy. In order to avoid this case, it is best to be truthful about all the information asked by the insurance company. One of the best ways to avoid a high premium of life insurance plan is to maintain a healthy lifestyle. Do not drink or smoke, take ample care of yourself. A healthy policyholder is preferred by all insurance companies.