​​​
  1. Insurance cover for dengue, cancer, diabetes, here’s when you should buy these disease-specific plans

Insurance cover for dengue, cancer, diabetes, here’s when you should buy these disease-specific plans

Insurers provide disease-specific covers against variety of illnesses including diseases like cancer, diabetes, hypertension and cardiac care.

By: | Updated: July 4, 2016 2:42 PM
health-reu-L However, are these worth the money and if so, when should one buy such disease-specific covers? Insurance experts feel that though insurance policies that cover wider range of illnesses is preferable, specific covers can be considered in certain instances. (Reuters)

DHFL Pramerica Life Insurance recently launched a cover against dengue, the mosquito-borne disease. Similar cover against dengue is also provided by other insurers like Apollo Munich Health Insurance.

Insurers provide disease-specific covers against variety of illnesses including diseases like cancer, diabetes, hypertension and cardiac care.

However, are these worth the money and if so, when should one buy such disease-specific covers? Insurance experts feel that though insurance policies that cover wider range of illnesses is preferable, specific covers can be considered in certain instances.

“In the long run, all-disease covering comprehensive plans are advisable. However, if you are more worried about a certain disease and cost is an issue. Such plans can be a starting point for comprehensive cover in the future. These are typically more economical and hence there is good demand,” Yashish Dahiya, co-founder and CEO, Policybazaar.com told FeMoney.

Dahiya said such plans can be considered when there is family history of the disease. “If you are highly prone to a certain disease, there is a family history and the total solution is too costly for the time being, you can consider buying a standalone disease-specific plan. Each of the plans have different risk involved, it’s always advisable to buy them as a standalone product, as you get more comprehensive coverage in such a case.

Saroj Satapathy, CEO, Ideal Insurance Brokers Pvt Ltd, echoes similar views. “One should look at family health history and lifestyle before considering disease-specific insurance plans. However, a normal heath insurance indemnity plan is a must. A critical illness plan is a necessity looking at the variety of lifestyle diseases occurring at so early in age,” Satapathy said.

He said that these plans should not be bought in isolation. “Disease-specific plans should be bought early in life. Thought there is no thumb-rule for the same, it should ideally be bought by age of 35. I strongly believe that it should be bought along with a indemnity health policy and critical care policy to get a fully-blown cover,” Satapathy said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top