Diabetes Health Insurance: Top Plans, Cover And Benefits Offered
Diabetes mellitus is a widespread chronic disease that requires frequent doctor check-ups, hospitalisations, and medications. To meet these expenses, it is essential to choose a specialised diabetes health insurance policy. A diabetes insurance policy will help you to easily manage the long-drawn cost of diabetes treatment and associated illnesses.
A regular health insurance policy might not be sufficient to meet the diabetes-related medical cost. Hence, a specially designed insurance policy is required to cater to the specific financial requirements of diabetes treatment. The following sections provide a complete rundown to help you find the best health insurance for diabetics in India.
Top Diabetes Health Insurance Plans
There are various insurance providers who have introduced dedicated diabetes health insurance policies. Here’s a list of some of the best health insurance for diabetics in India:
Navi Health Insurance is another option that diabetic patients can consider. This policy comes with a wellness plan that motivates a diabetic individual to lead an active and healthy lifestyle. Based on the improvement, you will be offered discounts. After the wellness program, you need to undergo a health screening test to ascertain the HbA1c value. If it falls between 5.7 to 6.4%, you can get a 3% discount. However, if it is below 5.6%, you will get a 5% discount on the premium paid.
Download Navi App to learn more about the plans. The procedure to avail of Navi Health Insurance is completely paperless and comes with a 97% claim settlement ratio.
2. Apollo Munich Energy Plan
This is a comprehensive health insurance policy to cater to individuals with Type 1 and Type 2 Diabetes, pre-diabetes, and hypertension. Apollo Munich Energy Plan not only covers diabetes treatment but also encourages individuals to lead an active lifestyle. It comes with wellness plans that offer rewards and points to maintain a healthy life. These can be later used for consultation and medication.
It provides pre and post-hospitalisation coverage with the sum insured ranging between Rs. 2 lakh and Rs. 50 lakh.
3. National Varistha Mediclaim Policy
This diabetes policy is designed particularly for senior citizens with Diabetes, ITG, IFG, and hypertension. The policy premium starts as low as Rs. 4,100 while the sum insured falls between Rs. 1 lakh and Rs. 2 lakh.
4. HDFC Ergo Energy Health
Under this diabetes policy, you can opt for 2 types of plans: Gold and Silver. The Gold plan comes with the cost of the wellness program included. This diabetes insurance policy is meant to cover for treatment of Diabetes 2. The sum insured ranges between Rs. 2 lakh and Rs. 10 lakh.
Top Benefits of Buying a Diabetes Insurance Plan
A diabetic individual can avail of a host of advantages with a dedicated diabetic insurance policy. These include:
1. Extensive financial coverage
Treatment of diabetes can be a lengthy and costly affair. Diabetes mellitus is a chronic disease that requires frequent doctor consultation, medications, insulin, diagnostic tests, and even hospitalisation. A diabetes insurance policy will provide extensive financial coverage to help you manage all these expenses.
2. Wellness programs with coaches
Almost all diabetes insurance plans include a wellness program that motivates diabetic individuals to lead a healthy lifestyle. Such programs also come with a wellness trainer or coach to monitor and assess the policyholders’ progress.
3. Rewards
As a diabetes insurance policyholder, you are also eligible for no-claim bonus or reward points to stay fit and active. You can later use these reward points or discounts to reduce the cost of health insurance policies.
What is Not Covered under a Diabetes Insurance Plan?
There are a few exclusions that are usually not covered under a diabetes insurance plan, such as:
- Cosmetic and/or aesthetic treatments
- Pre-existing diseases (plans covering pre-existing conditions usually come with a waiting period of a few months or years)
- Injuries while taking part in sports such as racing, diving, aerial activities, etc.
- Illnesses induced by drugs or alcohol
- Hospitalisation due to chemical, biological or nuclear incidents
- Hospitalisation without the doctor’s recommendation
Eligibility Criteria to Buy Diabetes Insurance Cover
The eligibility criteria to purchase a diabetes insurance plan usually vary from one insurer to another. However, some of these criteria remain the same across all policy providers:
- Every insurer has prescribed a minimum age limit to be eligible to buy the policy. Both the minimum and maximum age limits vary from insurer to insurer. Since children can also have diabetes, the minimum age for enrolling under health insurance for diabetes is 91 days.
- You might have to undergo a pre-policy health screening test before buying health insurance for diabetes. However, these tests are generally not compulsory.
What to Consider While Choosing a Health Insurance for Diabetes?
The market is flooded with numerous insurers providing diabetes health insurance policies. However, finding the one that best suits your requirements can be a bit confusing. Keeping the following pointers in mind will help you in your quest to find the best health insurance for diabetes in India:
1. Waiting period
Diabetes is a chronic disease that requires constant medical attention. Therefore, it is crucial to find a diabetes insurance policy with a low waiting period. Insurers offering diabetes insurance plans usually offer a lower waiting period. Make sure to compare across various insurers to find a policy that offers a low or no waiting period.
2. Wellness plans
Since the recovery of diabetes is connected with your lifestyle, it cannot be cured with only medications and treatments. It requires constant effort to stay healthy. Most diabetes insurance policies come with a wellness program and coach to help patients stay fit and healthy. Such plans also offer benefits and rewards. Try to find a policy that comes with a suitable wellness program.
3. Maximum renewable age
Most diabetes insurance policies provide policy renewal of up to 60 years. Make sure to find an insurance policy that offers a high renewable age.
Also Read
How to File a Claim for Diabetes Insurance Policy?
The process to file a claim for diabetes insurance is the same as that for any other health insurance policy. When you submit the medical bills, your insurer will reimburse the expenses and the hospital bills.
However, if you are part of a cashless health insurance policy, your policy provider will pay the hospital directly.
Final Word
It is usually beneficial for diabetic individuals to opt for a specially curated diabetes insurance plan instead of a regular health insurance plan. However, you need to keep in mind all the key points while looking for the best health insurance for diabetics in India. Make sure to compare and assess all the offerings of insurers before making a decision.
FAQs
Ans: You need to submit the following documents while buying health insurance for diabetes:
• Proof of identity
• Residence proof
• Photographs
• Age proof
• Income proof of the insured individual
• Health-related documents asked by the company
• Other documents as requested
Ans: Usually, most insurance companies cover the treatment for both types of diabetes. However, you must check the policy thoroughly as some policy providers might cover only Type 2.
Ans: Yes, you are allowed to purchase multiple health insurance policies for diabetes from either the same or different insurance companies. But, you need to inform all existing policies to the other insurance providers while making a claim.
Ans: Yes, you can file for tax exemption under Section 80D of the Income Tax Act against the premiums that you have paid.
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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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