Diabetes is becoming an increasingly worrying condition with more and more individuals, both old and young, falling prey to the disease. If numbers are any indication, the current victims of diabetes are about 65.1 million Indians and projections estimate this number to cross the 100 million mark by 2030.
Depressing, isn’t it? The ailment itself is manageable, but what makes matters worse is the cost, something which cannot be managed without diabetes insurance. Children too are not spared from the ailment as Type 1 diabetes attacks them and makes them prone to various ailments. Though controllable in earlier stages, Type 1 diabetes has severe long-term complications.
Diabetes, like any other ailment, starts simple but later complicates into a lot of associated ailments. Glaucoma or cataract in the eyes, kidney failure, heart ailments, stomach related disorders are just some of the many ailments which diabetes causes in the long run. As far as the treatment costs are concerned, it is rising at a rapid pace. So what is the solution? A diabetes insurance policy is the one and the only solution in dealing with the long-term complications of diabetes. Here’s how:
These are the reasons why a diabetes insurance plan comes in handy when dealing with the long term complications of diabetes.
If you are already suffering from diabetes at the time of buying the plan, you would not be covered in the first few years of the plan, as it is a pre-existing illness and there is a waiting period for such an illness. This exclusion is applicable for 2-4 years depending on the plan. So, don’t be complacent when you buy the plan thinking your diabetes coverage would begin from Day 1. You would have to ‘wait’ for the complete waiting period. But since we are talking about the long-term complications, rest assured that your plan would cover you once the waiting period is over. An advice for you – buy the plan with the lowest waiting period.
Related-: Diabetes Insurance Plans in India
Don’t be stingy when buying a health plan. Buy a decent cover to provide for the rising expenses so that your health plan does not run out when it comes to paying the claim. If you feel the premium would be higher, be smart and buy a top-up or a super top-up plan; but be sure to have an optimum Sum Assured.
Diabetes can also be tackled by specialized diabetes care plans which several insurers have launched. These plans are for those who have high diabetes and are facing its complications. The plans are unique in the sense that they have very low or no waiting periods and cover the costs associated with diabetes treatment almost immediately.
Some of these plans are:
For those diagnosed with diabetes in its initial stages, a simple health plan would be sufficient that would provide a wider coverage than the specialized plan.
So, now you know how your diabetes insurance plan can help you battle diabetes and the expenses related to its treatment, whether for your immediate use or for future long-term complications. So, don’t hesitate, buy a plan today and ensure that your diabetes does not wipe out your savings in treatment costs.
Every year, Insurance Regulatory and Development Authority of India (IRDA) announces a list of health insurance companies. There are few important features that help it to rate the insurance companies, such as their perf...read more
Maternity or pregnancy is an important phase of life, and one needs to prepare in advance to embrace parenthood. Though rearing a child is an expensive affair and may require good financial backup to meet the requirement...read more
A quiet revolution has swept through India’s health care sector in the past five years- best evidenced in the fact that now nearly 27% of the nation’s population is insured. The Indian healthcare sector is projected ...read more
From the air we breathe to the food we eat, everything is intentionally or unintentionally subjected to adulteration. Due to this, the disease rate in India is rising drastically. Naturally, more and more people are visi...read more
There has always been a doubt in customers mind about whether the private company will keep its side of the bargain i.e. it will settle the claim or not. A customer spends premium annually which will cover his medical ex...read more