Many diabetic patients might believe they are ineligible for medical insurance due to their condition, but this is untrue.
A diabetic person can purchase a standard insurance plan and disclose their condition at purchase. Insurance companies may place some exclusions based on health criteria. Patients with diabetes are eligible for both standard and speciality health insurance plans. Pre-existing illness coverage, cashless hospitalisation, pre- and post-hospitalization coverage, and coverage for daycare procedures are all included in health insurance for diabetics. Claims are subject to terms and conditions set forth under health insurance policy.*
Under health insurance with diabetes coverage, there are also specific exclusions, such as comprehensive health insurance plans with waiting period clauses and type 1 and type 2 diabetes coverage that excludes certain costs. Therefore, before investing in such vital policies, it is imperative to read the terms and conditions carefully. *
Like chronic diseases, diabetes patients are more likely to experience frequent acute health problems as well as the disease’s complications. They would therefore find much greater value in a plan that begins to cover diabetes from the first day of the policy rather than having to wait years for health insurance coverage of pre-existing conditions. The absence of such plans in the past was one of the reasons people with diabetes were hesitant to purchase health insurance. *
There are two types of diabetes: Type 1, in which the patient requires insulin shots because their body cannot produce insulin. In Type 2 diabetes, insufficient insulin is produced, or the cells become resistant to insulin. Type 1 and Type 2 diabetes are covered from the beginning by diabetes-specific plans. Diabetes is a chronic condition that can be very costly to manage. However, your financial concerns are addressed once you purchase a diabetes-specific plan. Such plans cover doctor visits, diagnostic tests, network hospital stays, and the price of medications. *
Health insurers typically offer diabetes-specific health insurance plans. Of course, these plans are more expensive than standard health insurance plans, but you can pay a co-payment of 10% or 20% to lower your premium. ##
Most of these plans include wellness programs that can be used to manage and monitor your health. Accessible resources include personalised wellness coaches and health records. You can acquire reward points through these and exchange them for a premium concession. The quarterly health monitoring tests are one significant component. Customers can receive up to a 20% concession on renewal premium of the total premium of base and rider simply by participating in these tests and gaining control over a few health parameters. Claims are subject to terms and conditions set forth under health insurance policy.*
You can always utilise a health insurance calculator to understand the appropriate level of coverage for your needs and those of your family.
Always carefully read the policy wording, terms, conditions, and exclusions before purchasing. Other pre-existing conditions, self-inflicted injuries, treatment for war-related injuries, cosmetic surgery, obesity treatment, venereal or sexually transmitted infections, hospitalisation without a doctor’s prescription, prenatal and postnatal costs, and some other plans may not cover Type 1 or Type 2 diabetes, are some examples of common exclusions from diabetes insurance plans.*
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. *Standard T&C apply.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
