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Diabetic? You can still buy a health plan
[Posted by: InsuringIndia Blog on Friday, December 09, 2016 8:44 AM]
Gone are the days when insurers would shy away from extending a cover to a diabetic person easily. Now with the pressures of modern life and a rise in the number of lifestyle related diseases, the Indian insurance segment is more open to those who are suffering from diabetes. In fact many insurance companies are now offering health plans that are exclusive to diabetics. This blog explores how these plans work to give you an advantage.
 
Being a complicated health condition, the number of insurers who offer this cover is relatively little. Diabetes as a disease is not a single ailment by itself. In fact it is a sign that the other organs of your body will also undergo changes and be impacted by this disease. It causes related ailments like a high blood pressure, brain stroke, heart attack and also impacts your eyes, feet and kidneys in a big way.
 
Before you opt for this policy, you must be aware of the fact that unlike conventional health plans, this type of cover will be far more expensive. Since you will have a high premium before buying this policy consider facts like how much you earn, your monthly savings and expenditure, and your future milestones. These will help you decide which premium will suit you the best. Having scrutinized these facts, here is what you will get in a diabetes health cover:
 
A definite tax benefit.
Cashless hospitalization which will save you the hassle of running around to look for an ATM or bank for a cash withdrawal.
Your claim will be processed faster, because a Third Party Administrator or TPA is not really required to handle this type of policy.
Depending upon the type of insurer you may have chosen, some policies also cover pre-hospitalization expenses.
Whether you suffer from Diabetes Mellitus or you may be at the risk of suffering from it, your insurer will take care of you, in many cases.
The good part about this policy is that you can avail a discount on medical equipment like glucometers, medicines, certain forms of health foods, etc.
To save you the hassle of unnecessary documentation and paperwork, some insurers give you the facility of logging into a special portal which will upload your progress, health record and medical file. All this, at a mere click of a button.
Now you need not worry about extra expenses any more.
This policy is usually open to anyone till 65 years of age.
 
Remember, it is always a good idea to buy this policy via an online portal. Not only does it save you a lot of time and unnecessary paperwork, but the research can save you money as well. This is because you can compare the sops, advantages, drawbacks and premiums of all policies available in this segment. Thereafter you can choose the best policy for yourself.


 

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*This is based on the difference between the highest and lowest premium's for a single person, age 25, looking for an individual health policy with the sum insured of Rs. 5 lakhs.
**This is based on the difference between the highest and lowest premium's for a single person, age 25, looking for a term plan, with the sum insured of Rs. 30 lakhs, and the premium paying term of 30 years.
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