Disease-specific or a Standard Health Insurance Policy?

Health insurance policies always have a scope for improvement and one such step towards upgradation is the idea of bringing disease specific health insurance policy for individuals suffering from hypertension and diabetes. Apollo Munich is the standalone health insurer that has recently come up with a health insurance policy exclusively targeting the individuals who have been suffering from diabetes and hypertension along with other such conditions.

Some further reforms brought by other insurers include – there will be no additional premiums for the diabetes and hypertension patient when purchasing a regular policy from New India Assurance. Whereas, Star Health has brought up plans which are designed specifically for people suffering from diabetes and HIV.

Such reforms have made people skeptical about which plan to choose from i.e. disease specific or regular insurance with constrains on pre-existing diseases. CEO of Apollo Munich Insurance, Antony Jacob said that these illness-specific plans are designed to benefit people who are unable to go for regular health cover and only this section of individuals are expected to display interest in the above.

Highlighting the difference, a regular health plan do offer coverage to pre-existing aliments once a predefined waiting period is completed which may vary from 2 to 4 years, whereas in these disease focused plans the waiting period is abolished and aliments are being treated from day one.

Every policy has its own advantages and disadvantages, similarly in focused plans you need to undergo restrictions like co-payment when filing a claim as well as sub-limits on room rent. Even the treatment expenses might be under some limit. Incase of Apollo Munich's plan the insurer needs to pay a higher premium or the co-pay clause.

Sanjay Datta chief of underwriting and claim department of ICICI Lombard General insurance explained the limitations put under specific plans on the degree of risk when covering a diseased person. And actually in regular health plans cover is only provided to people perceiving low risk condition.