What is Diabetes Care Health Plan?
As a diabetic in India, it can be hard to find good health insurance products that don’t have terms and conditions that totally exploit you. As we all know, health insurance companies today are being run like businesses that will do anything to release themselves from the legal obligation of parting with their money and paying you the insurance benefit that’s due. Diabetes falls under the “high risk” category or is written off as a pre-existing ailment and any medical expenses arising out of the same are not eligible for claims though there are a few good plans.
Frequently Asked Questions
- Renal Failure
- Major organ transplant (as recipient)
- Diabetic Retinopathy
- Foot Oedema
- Coronary Artery Bypass Graft
These are some of the factors that will help you zeroing-on the best Diabetes Care Health Plan-
Standalone or Add-on: Some term or health policies have diabetes care as an add-on and that can be helpful. On the other hand, buying a stand-alone cover is a big step forward towards covering up any critical situation that you may face in any emergency situation. Moreover, a critical health policy is tailored particularly for critical diabetes care and has added benefits.
Your Medical History and Current Health Condition: Your critical illness plan is going to hugely depend on various factors and situations that you may have faced in the past. Like any other medical condition, your current state of health as compared to previous health condition will be one of the factors to decide your premium. That is why all major insurance providers carry out a health check-up to ensure they can cover all the major aspects of a critical health policy inside the premium.
Therefore when a policy is bought at a younger age, the benefits are manifold and it's profitable in the longer run.
Financial State: A high premium diabetes plan may prove to be a little difficult at the present stage. From a long-term perspective as you approaching the retirement age, then it is going to be useful.
Consider Your Family’s Situation: As you are approaching the retirement age, with your kids already finished their academics or have entered into their professional lives; going for a stand-alone diabetes critical care plan is the best choice.
Limits on the sum insured: Sometimes there is a condition to wait for hospital bills to release the claim amount. It’s preferable to opt for a plan that easily provides you with a lump-sum at the first onset of the disease.
Some plans have a co-pay clause or a long waiting period for some specific medical circumstances. Care should be taken to understand the policy document carefully.
Renewal limits: Certain insurance plans come with a limit for renewal and generally, the policyholder gets to know about it at a higher age. A good policy comes with a long-term cover and has an easy renewability feature.
What is covered in Diabetes Care Insurance
This is for the patients who are suffering from Diabetes Mellitus Type 1 and 2. Depending on your insurer, these are generally covered:
Diabetes Insipdus is generally not covered under Diabetes Care Policies. There is an exit age for these policies which is around the age of 65 for most policies.
Practical example that you can relate to:
- Ashok is a senior manager. He is a diabetic and is insured with an individual health plan with adequate sum assured. This policy would be enough for him/her to avail reimbursement for hospitalisation expenses arising from diabetes. There are other post-hospitalisation expenses which may not be covered. Moreover, the waiting period for getting coverage in case of diabetes under an individual health plan may go up to 4 years, much higher than that of a diabetes-specific plan. Therefore, after the detection of the ailment, it makes more sense to buy a disease-specific plan for protection.
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