Health insurance for diabetes patients is a comprehensive insurance plan that covers the cost of medical care, including hospitalisation expenses for the treatment of diabetes.
Diabetes Mellitus, commonly known as diabetes, is a chronic health condition that can become life-threatening due to a lack of quality treatment. It can lead to fatal health conditions like kidney failure, heart disease, blindness and even amputation. As a chronic illness, this disease requires continuing medical attention.
Health insurance plans for diabetes act like an added layer of financial protection during a medical emergency.
Read along to find out more about the necessity of medical insurance for diabetic patients.
Diabetes is a growing health concern in India. According to the 2021 survey, more than 77 million adults are living with the disease. Out of this, approximately 57% of cases remain undiagnosed.
This disease can lead to several health complications, as previously mentioned. In addition, a diabetic patient has to undergo long term medication to keep the disease under control.
Listed below are some indispensable reasons why a diabetes insurance plan is essential:
Knowing about every detail of your insurance coverage is necessary as various complications could arise owing to diabetes. In that regard, let’s take a look at some essential features of a comprehensive health insurance plan for diabetes:
A health insurance plan offering coverage for diabetes provides a cashless hospitalisation facility. On account of this feature, you do not have to worry about finances during medical emergencies. The insurance provider directly settles the medical bills with the network hospital.
Pre and post hospitalisation
The healthcare plan for diabetes patients also covers expenses arising from several tests and medical procedures before and after hospitalisation.
Day-care procedure coverage
A comprehensive healthcare plan also covers the cost of treatment procedures that require hospitalisation for less than 24 hours.
Here are some benefits of health insurance for diabetes patients:
Eligibility and entry-exit age
It is necessary to check the entry and exit age limits in relation to a specific health insurance plan for diabetes patients before making a purchase.
These two factors are essential when buying medical insurance for diabetes. Keeping in mind the expensive medication and treatment procedures, the premium amount and sum insured are two aspects that determine how suitable the plan is for the policyholder’s requirements.
Often, a health insurance plan for diabetes patients comes with a fixed waiting period. On account of this, the policyholder might have to wait for 2-4 years to get coverage. However, some insurance providers waive this clause for a fee or a higher premium. It would be best if you considered this aspect before choosing a plan.
Term of policy and coverage
A long policy term and broad coverage enable you to avail of necessary treatment benefits for an extended period.
Before choosing a suitable health insurance plan for diabetes patients, it is essential to read the policy wordings carefully. Furthermore, you must check all the benefits of the policy.
When purchasing health insurance for diabetes patients, you must make sure to choose an insurance provider that has a large number of network hospitals, for example, Navi. This insurer has more than 10,000 network hospitals across over 400 locations in India. Navi approves cashless claims within 20 minutes. So, visit Navi Health Insurance today (Terms & Conditions Apply).
This refers to the duration for which a policy remains active. In other words, it is the time period during which the insurance company provides guaranteed coverage. Accordingly, by opting for a health insurance plan with a longer policy term, you will get coverage for a longer period.
To file a claim, follow these easy steps:
By opting for health insurance for diabetes patients, you can financially secure yourself during a medical emergency that may arise due to this disease. That said, before making a purchase, you must weigh the pros and cons of different policies for finding out which one is the most suitable option.
Ans: Some of the most common exclusions in the case of health insurance for diabetes are as follows:
Illnesses resulting from substance abuse (alcohol and drugs)
HIV, AIDS, and other sexually transmitted diseases
Injuries due to war/act of war
Experimental as well as pharmacological regimens
Note that pre-existing diseases other than diabetes will be covered after a waiting period of 2-4years.
Ans: Hospitals that have a tie-up with an insurance company and provide cashless treatment to the policyholders are called network hospitals. When you buy a health insurance policy, your insurer will provide you with a list of hospitals. You can file a claim and avail of cashless treatment at these hospitals during a medical emergency.
Ans: Many health insurance policies do not provide coverage for the treatment of diabetes. That said, even if some policies include diabetes coverage, they come with a waiting period that can range from 2 to 3 years, or even more.
Ans: Section 80D of the Income Tax Act offers tax benefits to people opting for health insurance. The maximum amount of deductions that individuals below the age of 60 years can claim is Rs. 25,000. That said, senior citizens are eligible for tax deductions of up to Rs. 50,000.
Ans: Several insurance companies have introduced plans specifically for individuals diagnosed with Type 1 and Type 2 diabetes. Such plans cover expenses incurred due to hospitalisation, doctor’s consultation fees, cost of medication and diagnostic tests.
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