1COVID-19: Be Claim Ready With Your Health Insurance Policy
Suffering from diabetes and checking the waiting period of the health insurance plan you want to buy? You need not worry about it because now there are health insurance plans available which provide coverage for diabetes from day 1. Recently, many insurance companies have devised personalized health insurance plans that provide coverage for pre-existing diseases from day 1. For example, Aditya Birla Activ Health Enhanced-Diabetes and Star Health Diabetes Safe Plan-A.
Traditionally, there is a 3-4 years waiting period for coverage of pre-existing disease in health insurance plans which means you can not claim for that particular disease till the waiting period is over. There are a lot of expenses which are incurred during these four years. Therefore, there has been a lot of interest among consumers to look for plans with a lower waiting period or early coverage. This felt the need for insurers to launch plans that provide coverage for PEDs from day 1.
Now, with these plans, you won’t have to wait for coverage of diabetes. The cost of hospitalization, treatments and medication for chronic illnesses is rising and hence it is important to have adequate health insurance. The cost of treatment for a diabetic patient is approximately Rs 25,000-30,000 per month.
Moreover, anyone with diabetes has a higher risk of becoming a serious case if contracted with Covid-19. The treatment cost at a good hospital in metro city for a Covid-19 patient with comorbidities would be around Rs 15-20 lacs.
However, plans such as Aditya Birla Activ Health Enhanced-Diabetes cover OPD benefit for diabetes from day 1, and hospitalization expenses are covered after 30 days for any complication arising due to diabetes. Since chronic illnesses like diabetes require continuous monitoring, there is a free chronic management program as well in this plan which has benefits such as Day 1 cover for Diabetes, Doctor Consultation – 3 visits, Diagnostic Tests – HBA1c and Creatinine, and access to expert Health Coaches. The cost of Aditya Birla Activ Health Enhanced-Diabetes plan with a sum insured of Rs 10 lacs for a 40-years-old person living in Delhi will be Rs 1,679 per month.
Similarly, HDFC Ergo Energy Gold plan gives coverage for Diabetes and hypertension from day 1 and a lot of health and wellness benefits. In this plan, the cost of HbA1C tests are covered up to Rs 750 per policy year. Two complete medical check-ups known as wellness tests are also payable up to Rs 2000 for Gold Plan on a cashless basis. You also get renewal premium discounts of upto 25% based on the results of your medical tests and critical health parameters such as BMI, BP, HbA1c and Cholesterol. You also get personalized highly trained health coach to guide, remind, and create your nutrition and fitness plans. Star Health Diabetes Safe Plan B provides lesser waiting period for diabetes which is 12 months. It also provides coverage for daycare treatments, restoration benefits and coverage for Covid-19 treatment.
You should keep a few things in mind when buying health insurance if you have diabetes. Firstly, you should never hide your pre-existing condition. We often think that disclosing it may hinder our chances of getting health insurance. However, this can lead to serious consequences as your claim might get rejected if it is found out later.
You must also assess your waiting period. Depending on the severity of diabetes, you can check whether you can afford a longer waiting period or want early coverage. Also, read the terms and conditions of the plan carefully including co-payments, sub-limits, etc.
You should also prefer buying the policy online as it reduces the chances of misselling and provides all the information. Policy issuance is faster and the facility of telemedicals and videomedicals is also provided. Moreover, claims process is seamless and quick when buying online.
07 May, 2021