As people shift to stressful, work-oriented, and inactive lifestyles each day, health issues like diabetes have become a major concern. Moreover, living with diabetes can be tough and painful, and it comes with the risk of severe and even life-threatening complications. While many people still associate the disease with old age, it is, in fact affecting the younger population more today.
If you look at the data provided by Arogya World, a global health organization, you will find that the number of diabetic individuals in India is set to increase to 101.2 million by 2030. Even though there is no sure way to protect yourself or your loved ones against the disease, you can consider investing in health insurance for diabetic patients. A diabetes health plan is designed to cater to the medical needs of diabetic individuals and covers all expenses arising out of hospitalization & treatment for the condition.
While buying health insurance for diabetic patients is an excellent investment, here are some features policy buyers should review first:
- Extensive Medical Cover
Gone are the days when health care policies only provided cover for hospitalization costs, and even health insurance for diabetic patients is no exception to this. Today, most diabetes plans extend medical coverage to pre & post-hospitalization expenses, daycare, advanced treatments, domiciliary care, ambulance services, and even daily allowances. So, make sure you select a plan with maximum protection.
- Cashless Claim Payments
Arranging lakhs of rupees during a medical emergency can be challenging, which is why many insurers provide policyholders with the feature of cashless payments. This option enables you to avoid reimbursement hassles as the insurance company settles your claim amount with the health care provider directly.
- Tax Returns
All health insurance plans are eligible for tax exemptions under the Income Tax Act of India, and you can save up to Rs 60,000 for premium payments towards your policy. Therefore, when buying health insurance for diabetic patients, opt for a plan with maximum tax returns or savings.
- Life-Long Renewability
When buying health insurance for diabetic patients, a key feature you should consider is life-long renewability. Earlier, most insurers had placed restrictions on the exit age for their policies, but this rule was later reversed by the IRDAI. So, now policyholders can reap the benefits of lifetime renewal with their health care plans and stay secure against unexpected medical expenses for long.
- Free-Look Period
It is not uncommon to have second thoughts about the diabetes plan you select, or you may even find a better option later. However, there isn’t much you can do about this unless your plan has a free-look period. The free-look period is the duration when you can cancel your policy with ease, and it is generally 15 to 30 days long. Hence, while exploring health insurance for diabetic patients, check for the free-look period.
- No Pre-Policy Checkup
Although some insurance providers require policy buyers to take a complete body checkup before they purchase the plan, most insurers don’t. So, you can buy health insurance for diabetic patients without having to undergo medical checkups but be sure to double-check this feature as it varies from insurer to insurer.
- Automatic Recharge of Sum Insured
One excellent feature of most diabetes health insurance plans is the automatic recharge of the sum insured upon exhaustion. For instance, if your entire coverage amount gets used up for medical expenses, the insurance provider will instantly restore the sum insured, giving you twice the coverage. However, it is important to know that this option can generally only be availed of during the first claim.
Although we’ve covered the main valuable features of health insurance for diabetic patients, it is also essential to check the co-payment clause, waiting period, cover for pre-existing conditions, and the insurer’s claim settlement ratio. Additionally, make sure you select a well-established and trusted insurance provider like Care Health Insurance, so you know you’re only choosing the best for your health.
