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  3. The Diabetic Health Insurance Plan

The Diabetic Health Insurance Plan

Health Insurance

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India is the second-largest country in the world with a Diabetic population. However, our country's awareness of the disease and its management is inferior. Diabetes can assume frightening proportions if it remains uncontrolled. Diabetic patients in the older regime used to find it challenging to get a policy from any insurance company, not anymore. Health insurance companies have developed unique Diabetic plans where Type 1 and Type 2 patients, especially those taking Insulin, can get Mediclaim Cover. Though the Plan is slightly more expensive than the regular plans, it is better to be covered rather than remain uncovered. 

However, a medical check-up for such patients is compulsory and based on the reports; the underwriter of the insurance company gives his approval. The features are also very innovative. If the patient keeps the sugar levels under control by maintaining self-discipline, he is entitled to a discount on the premium at the time of renewal. One must undergo a test at the cost of the insurance company every quarter. The same is sent to the underwriter to assess eligibility for a discount at the time of renewal. You also get a discount on medicine purchases, and many benefits are attached to this policy. It is highly recommended to buy a policy while you do not have any ailment, as and when diabetes goes out of control, you may find yourself in a difficult position to get a policy then. These plans also give a bonus that will enhance your coverage in case of a claim-free year. Moreover, Restore benefit is also available if the insured person exhausts his Sum insured during a policy year and needs some more coverage during that particular period. In this case, the Sum insured amount is restored in the policy and can be used for further claims in that period.

FEATURES

RESTORE BENEFIT: A plan which restores your Sum Insured when you need it the most. Instant addition of 100% Basic Sum insured on complete or partial utilization of your existing policy Sum Insured Cumulative Benefit if applicable during the policy year. This total amount (Basic Sum Insured, Cumulative Benefit and Restore Sum Insured) will be available to all Insured Persons for all claims under in-patient benefit during the current policy year.

CUMULATIVE BONUS: A 10% cumulative bonus will be applied on the base sum insured for the next policy year under the policy after every CLAIM-FREE policy year, provided that the policy is renewed with the insurer without a break. The maximum cumulative bonus shall not exceed 100% of the Sum Insured in any policy year

PRE- AND POST-HOSPITALISATION EXPENSES: The old generation plans provide 30/60 days cover but in the new generation plans, 60/180 days cover is provided.

AMBULANCE COVER: Up to a specific limit subject to hospitalization. ORGAN DONOR: Covered up to Sum Insured.

WITH CO-PAYMENT: If opted and mentioned on the policy schedule that a co-payment is effective, and a claim has been admitted under benefits in-patient treatment, pre-and post-hospitalization expenses, daycare procedures, organ donor, shared accommodation benefit and ambulance cover then, the insurer shall bear 20% of the eligible claim amount payable under the policy and his liability, if any, shall only be more than that Sum and would be subject to the Sum Insured.

REWARD POINT: Based on the results of your medical tests and key health parameters such as BMI, BP, HbA1c and cholesterol, the insurer will offer you incentives for staying healthy. Panels are a great tool to compare offers or to emphasize on key features. To compare products, use the inside columns

  • Renewal premium discounts of up to 25% for managing health conditions. 

  • Reimbursement up to 25% of renewal premium towards your medical expenses (like consultation charges, medicines and drugs, diagnostic expenses, dental expenses and other miscellaneous charges not covered under any medical insurance).

MEDICAL CHECK-UP PROGRAM: To avail of benefit from medical tests you may choose to undergo a medical check-up twice in a policy period at a diagnostic centre which the insurer approves for the discount in the renewal premium.

ELIGIBILITY:

  1. This policy covers persons aged 18 years to 65 years. The maximum entry age is restricted to 65 years.

  2. There is no maximum cover ceasing age in this policy.

  3. This Policy offers cover to individuals with Type1 Diabetes, Type 2 Diabetes Mellitus, and Impaired Fasting Glucose (IFG), Impaired Glucose Tolerance (IGT), and/or Hypertension. 

  4. The policy will be issued for a period of 1 year.

  5. This policy can be issued to an individual only on an individual Sum Insured basis.

  6. There will be no general waiting period of 30 days applied to this product.

SUM INSURED: Offered are Rs. 200,000; 300,000; 500,000; 10,00,000; 15,00,000; 20,00,000; 25,00,000; 50,00,000.

The Plan is available to Individuals as a separate cover and it cannot be merged with any existing plan. One who is Diabetic in the family should take this as an extra cover so your main policy of the family shouldn't be affected if the family member is diagnosed with any significant ailment. Treat this Plan as important as your medication for diabetes, which will keep you comfortable having such a Plan in your life.