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Diabetes - The Biggest Epidemic in India

By Finserv MARKETS - Aug 14,2019
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Health Insurance For Diabetes

Although India is known as the diabetes capital of the world, only a few insurance providers tend to address the needs of diabetics in the country. Most insurance providers are quite generous to provide term insurance to people with diabetes. However, when it comes to health insurance, they tend to avoid providing comprehensive coverage for the disease and its complications.

Are you wondering why insurers avoid giving health insurance for diabetes?

Well, the answer is quite simple. After taking into consideration the downfalls of diabetes and its related complications, the insured person is most likely to outlive the policy term. Hence, considering the treatment costs and medical requirements, insurance providers are less likely to provide diabetes patients with critical illness cover.

Health Insurance Plans For Diabetics in India

Some of the alarming signs of diabetes include –

  • Excessive thirst
  • Frequent urination
  • Fatigue
  • Blurry vision
  • Sudden weight loss

Over some time, your body will take time to heal wounds and become more vulnerable to the eye, nervous system, and kidney damages.

Due to all these complications, people with diabetes in India find it very difficult to secure affordable diabetes health insurance plans. In fact, most of the critical illness insurance policies exclude not only diabetes but also its complications.

Insurance policies that do cover diabetes and its related complications, do not provide cover before 4-year waiting period, that too post-diagnosis. On the other hand, policies that do not have a 4-year waiting period tend to have high health insurance premium rates. Generally, most health plans have pre existing diseases such as diabetes and hypertension as an exclusion.

So, what should a person with diabetes do in such a situation?

At most, you can buy a medical policy that covers diabetes and pull through the waiting period. You can search for insurance providers that offer a shorter waiting period than the one stated above.

Another way to get health insurance for diabetes is by getting group insurance (usually provided companies). A group health policy tends to cover you for any pre-existing medical conditions like diabetes but will be active only as long as you are an employee of the company.

The Bottom Line

The insurance options for diabetic patients are limited. Hence, people with diabetes should take an insurance policy that covers the condition and its related complications. Also, look for term plans that have a short waiting period (shorter than the regular 4-year waiting period) and affordable premium rates.

Planning to buy health insurance?

Get in touch with us at Finserv MARKETS and browse through the different health plans by Bajaj Allianz available on our portal. At Finserv MARKETS, you can benefit from features like swift claim settlement, reinstatement benefit, extensive coverage, health insurance no claim bonus and much more.

Also, you can save on premiums. Wondering how? Since age is the determining factor when buying a medical insurance plan, the younger you are, the lesser premiums you have to pay.

So, why wait? Buy Bajaj Allianz Health Insurance at Finserv MARKETS, today!

Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and exclusive EMI store, all under one roof- anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522