Health Insurance For A Diabetic Patient

Diabetes is one of the most common ailments that millions of people in India are diagnosed with every single day. India has a whopping 77 millions people suffering from some form of diabetes. But even with such a high number of diabetic people in India, it is unfortunate that only a small percentage of that have adequate health insurance that covers the disease.This is mainly due to two reasons. There is a growing myth that if you have diabetes, you won’t get health insurance which is entirely false. There are many options for health insurance for people suffering from diabetes. The second reason is that the premium for these policies may be higher and there will most definitely be a waiting period to avail the policy.Here are all the answers to your growing myths.

Even though you may find that diabetes is not covered in most general health insurance plans, there are still many insurance providers that offer individual health insurance specifically for diabetes. Since the disease has become so prevalent in India, these plans are designed keeping the specific requirements of the disease in mind. Usually such plans do have a waiting period after which you can avail the benefits of the diabetes health plan.

A group health insurance policy that employers usually grant their employees has a great advantage in that it covers pre-existing diseases without a waiting period. Enquire with your employer regarding coverage for diabetes and ensure you’re covered. However, you must keep in mind that your employer’s health insurance will only last till you’re employed with the company. But your diabetes will not. In this case, an individual plan might be better.

Most health insurance plans that cover pre-existing diabetes don’t just cover the specific illness but also cover disorders arising out of diabetes, like kidney disorders, eye problems or diabetic foot. So, when choosing a policy for diabetes, ensure that related illnesses are also covered.

Thus, it is a total myth that diabetic patients cannot have a health insurance policy. Even though it is true that the premiums for diabetic insurance may be higher, and there may be a waiting period of 2-3 years before one can claim a policy, that shouldn’t stop you from getting health insurance if you or a family member has diabetes.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.