Diabetes Health Insurance Plans for People with Sugar Disease

As per the experts at International Diabetes Federation (IDF), diabetes is growing at a concerning pace in India. Presently, more than 60 million people in the country are suffering from diabetes and the figure is expected to cross the 100 million mark by 2040 as per a study. Diabetes is a lifestyle disease with serious implications and the insurance industry understands that. Know how health insurance can help with diabetes.

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      Deepak is a 30-year-old IT professional, who lives in Delhi. Recently, he was diagnosed with ‘Type II Diabetes Mellitus’. He consulted his doctor, who advised him to exercise daily, walk daily, and reduce the sugar intake from his daily routine. Diabetes can seriously affect his eyes, legs, and heart. Keeping this in mind, his doctor advised him to take some serious steps towards it.

      As Deepak had a limited monthly income, he was more worried about the medical costs. A friend of Deepak’s, suggested that he purchase a health insurance policy. Deepak took this idea seriously and he started looking for a perfect insurance plan that can provide him coverage against all the medical costs that can incur in the future.

      To select a perfect health insurance policy with Diabetes cover, you need to understand what these policies are and their availability across the market.

      Diabetes Health Insurance Plans

      Indian Diabetes Health Insurance Market

      If you are suffering from diabetes and you wish to buy a health insurance policy, then it is considered as a pre-existing medical condition. According to the terms and conditions of a health insurance policy, pre-existing conditions are subjected to a waiting period (specified number of years). If you are unlucky, then the insurer may reject your application for the new policy too.

      In India, many health insurance providers offer mediclaim policies meant for diabetic patients..But the coverage and terms & conditions of each plan might differ depending upon the insurer and the chosen plan.

      More Options

      Diabetes-oriented health insurance plans provide you with limited options in the term. However, selecting such plans can eliminate all other benefits like coverage for treatments of selected illnesses outside India, features like restore and multiplier, sum assured etc., as they provide coverage from day 1 only.

      Hence, if you are young like Deepak, then selecting such plans would not be beneficial for you, as they will provide you with only day 1 coverage. You have the option to select regular health insurance plans with some waiting period.

      If you are a senior citizen, then it is advisable to compare different plans before selecting one. Senior citizen health insurance plans are not very straightforward, necessitating the need to. understand all the terms and conditions mentioned in the policy wording. It is also advisable to consult an insurance expert and understand the insurance policy completely so that you have no doubts in your mind. Comparing insurance policies will help you to understand the difference between different plans so that you can get more benefits by paying less premium.

      From the financial planning point of view, you should have a devoted medical fund to overcome issues like the rejection of claims, non-medical expenses or delay in the claim even if you have a health policy. Having a medical fund will make you independent by providing you support for your health insurance policy.

      You may also like to Read: Diabetics Health Insurance

      Conclusion!

      Diabetes health insurance is meant for growth in India, you will see more advancements and innovations in the coming years, which will provide you with a plenty of features. And for Deepak, he got clarifications on health insurance plans meant for diabetes. Now, he has confidence in his insurance policy, be it any health condition subject to the policy terms. By getting such a clarification, Deepak can now buy peace and well-being in the form of right health insurance policy for him and his family too.

      Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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      Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

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      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

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      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

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