LIC reject a term plan application after the medical test?

LIC never rejects a Term plan application after the medical tests, but if they find the medical reports or any other reason like financial status not up to the requirement, they may reject it.  For Term Insurance, medical is a major requirement. Till the day, the Insurance company is not satisfied with the medical tests, the proposer needs to visit the LIC-authorised medical centre. 

Financial underwriting is a must for Term plans.  The Insurance company very carefully observes whether the proposer is suitable for the policy or not. Health reports and financial status are considered to be very crucial for Term plans. Insurance companies try to sell the Term policy only to healthy people and not to the person having pre-existing problems. 

There are many reasons to buy the Term plan but, at the same time, before proposing think twice. Term plans are just insurance cover and not returns at the end.  In recent times, new Term Insurance plans with return of premium benefits have come. 

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