According to the World Health Organization (WHO), 8.7% of the Indian population between the ages of 20 and 70 suffers from diabetes. The increasing incidence of diabetes is the result of several factors, such as urbanization, sedentary lifestyles, unhealthy diets, smoking and increasing life expectancy.
Many diabetic patients may think that they cannot qualify for medical insurance coverage if they have diabetes, but this is not true.
“A person with diabetes can purchase a normal insurance plan by declaring their condition at the time of purchasing the insurance plan. Insurance companies can exclude health parameters,” says Bhaskar Nerurkar, team leader Health Administration, Bajaj Allianz. General insurance. Diabetic patients can benefit from normal and specific health insurance plans. Health insurance with diabetes coverage includes coverage for pre-existing conditions, cashless hospitalization, pre- and post-hospitalization coverage, and on-call procedure coverage. There are also specific exclusions under health insurance with diabetes coverage, such as multi-risk health insurance plans, such as waiting period clauses, and type 1 and type 2 diabetes coverage that do not apply. does not include certain expenses. Therefore, it is essential to read the terms and conditions carefully before investing in such crucial policies.
Diabetes health insurance policy: However, specific plans are available that cover diabetics. These plans can only be purchased by those who suffer from diabetes. Like a regular health insurance plan, it will also cover other illnesses, but will specifically cover diabetes.
“People with diabetes, like those with chronic conditions, are more prone to frequent acute health events as well as complications from the disease. So a plan that covers diabetes from day one of the policy, instead of years of waiting period for a pre-existing condition the absence of such plans before was one of the reasons why people with diabetes were reluctant to take out health insurance,” says Dr. Bhabatosh Mishra, Director of Underwriting, products and claims at Niva Bupa Health Insurance.
What is covered: Diabetes is of two types – Type 1 – where your body cannot produce insulin and the patient needs insulin injections. In type 2 diabetes, where cells either become resistant to insulin or an insufficient amount of insulin is not produced.
Diabetes-specific plans cover both type 1 and type 2 diabetes from day one. Managing a chronic condition like diabetes can be an expensive proposition. However, your financial worries are taken care of once you purchase a diabetes-specific plan. Medical consultations, diagnostic tests, hospitalizations, the cost of medications are covered by these plans.
“The SmartHealth+ rider has various components that make it one of the most suitable and valuable plans for people with diabetes. It provides day 1 coverage for diabetes and its complications under the disease management variant With the Acute Care component of SmartHealth+, unlimited digital consultations with doctors, specialists and Apollo Hospital Group’s super specialists are available to customers along with outpatient diagnostic testing and pharmacy coverage for up to the limit,” says Mishra.
Most health insurers offer diabetes-specific health insurance plans. These plans are of course more expensive than regular health insurance plans, but you can opt for a co-payment of 10 or 20% to reduce your premium.
Co-payment in health insurance refers to an arrangement where the policyholder has to pay part of the medical expenses themselves and the insurance company will pay the remaining amount. The user fee generally varies between 10 and 30% and is required mainly under health insurance policies for the elderly. The insurer pays only the amount of the balance claim.
Wellness programs: Most of these plans have built-in wellness programs that help you manage and monitor your health. You can also access personalized health records and wellness coaches. These allow you to earn reward points which you can redeem for a premium discount.
“An important feature is the quarterly health monitoring tests. Just by attending these tests and mastering a few health parameters, customers can benefit from a discount of up to 20% on the premium renewal premium total base and rider,” says Mishra.
Keep in mind: As always, read the policy wording, terms, conditions and exclusions carefully before buying. Some common exclusions from diabetes insurance plans are: other pre-existing conditions, self-inflicted injuries, war-related treatment/hospitalization, cosmetic surgery, treatment of obesity, venereal or sexually transmitted infections, hospitalization without referral a doctor, prenatal and postnatal expenses, and some other plans may not cover type 1, type 2 diabetes.
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