Health Insurance is a Must for Diabetics – Find Out Why on World Diabetes Day

Do you know that one in six people suffering from diabetes in the world is an Indian? That’s right, India is home to over 77 million diabetic* people and the number is only rising. Hence, World Diabetes Day, observed on 14th November every year, holds special significance for us. From hormonal changes to genetics and from work pressure to lifestyle habits, there are many reasons behind this ailment that can lead to unhealthy weight, hypertension, and even heart issues. In such a situation, it becomes important to stay covered with a medical insurance policy. Let’s discuss in detail why a diabetic patient must be protected by a health plan.

Need for health insurance for diabetic patients

Since diabetics need medical attention on a regular basis, such as health check-ups, blood check-ups, lab tests, daily medication, insulin injections, doctors’ consultations, etc., the need for health insurance for diabetic patients cannot be overlooked. Here are some reasons why diabetics need health insurance:

• The cost of treatment and medication related to diabetes is high due to routine check-ups and other health complications arising from it. A health insurancepolicy with diabetes coverage will keep you financially safe as well as mentally confident.
• A diabetic patient is at a greater risk of contracting critical illnesses such as kidney failures and cardiovascular diseases. Treating these along with diabetes can exert a huge strain on your finances. So, taking a medical insurance plan which covers critical illnesses is vital to sail through.
• With medical expenses rising year after year, a diabetic health insurance will provide financial cover against all diabetes-related hospitalisation as well as other medical expenses.

Features of diabetes health insurance plan

These are the top features of a health plan that covers diabetics:

• Pre & post hospitalization expenses:

All diabetes-related expenses are covered up to 30 days prior to hospitalization and 60 days post hospitalization.

• No waiting period:

The biggest benefit of a diabetes insurance plan is that it does not have a waiting period. You can avail the policy from the day you purchase it.

• Day-care treatment:

Some treatments/surgeries do not require hospitalisation. Such day-care surgeries are covered.

• Cashless treatment:

You can avail cashless facility at any of the network hospitals. During an emergency, you don’t have to worry about upfront paymentof hospital bills as the insurer settles the bill directly with the hospital.

• Emergency ambulance cover:

In an emergency, the cost of transporting the patient to the hospital is covered.

• Organ donor expenses:

In case the patient requires organ transplant, the policy will take care of the cost of harvesting and planting surgery.

• HbA1C Check-up:

HbA1C test is done to measure the average blood sugar levels for the past 3 months. Diabetic patients can get the cost of this test reimbursed.

• Doctors’ consultation fees:

Cost of diagnostic tests and medicines are covered. So, you can avail the best treatment without worrying about the bills.

Benefits of health insurance plan

Today, health insurance has become a necessity to beat medical inflation. If you think insurance is needed only after you fall sick or an ailment hits you, think again. A health insurance plan has a host of benefits such as:

• Hospitalization expenses:

A medical insurance plan will take care of all your medical expenses such as in-patient hospitalization expenses, pre & post hospitalization, day-care, emergency ambulance expenses, domiciliary hospitalization expenses, organ donation, etc. The insurance also pays a fixed daily hospital cash allowance to the policyholder to meet miscellaneous expenses if the hospitalisation goes on for more than 24 hours.

• Cashless treatment:

During an emergency, it is natural for you and your family members to go through a lot of stress.In such a situation, any financial issue can seem like a nightmare. However, the cashless facility in your policy can help you out and let you focus on the recovery, while the insurer pays the hospital bills. But to avail cashless treatment, you need to be admitted at any of the network hospitals.

• No Claim Bonus (NCB):

If you don’t make any claims during the policy year, you will be rewarded with NCB discount on your premium (at the time of renewal) or a higher sum insured at no extra cost.

• Tax benefit:

Under Section 80D of Income Tax Act, you can avail tax benefit of up to Rs 75,000 on your premium.

Conclusion

In case you are detected with diabetes, you will have a long list of dos and don’ts to follow. But following that list and your doctor’s advice can help you lead a good life. Plus, getting a medical insurance that covers diabetes is essential, as discussed above. Compare insurers and buy one online today!

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

*International Diabetes Federation Diabetes Atlas