Health Insurance Plan for Diabetes Patients: Check out 3 of the best insurance policies available in India

Published: November 2, 2017 4:18 PM

Many insurance companies have planned their policies keeping lifestyle diseases like diabetes in mind.

health insurance, Health Insurance for Diabetes, Best health covers for diabetic patients, Diabetes Safe Insurance Policy, Energy Insurance Policy, Varishta Mediclaim Insurance PolicyThe premiums of health policies for diabetic patients are also different from other health policies.

By Naval Goel

Diabetes is one of those diseases which need medication on a regular basis. Worse, medical expenses for diabetes are more than many other such diseases. Also, with inflation and lifestyle costs rising, managing expenses for medication of this disease is not easy. Here comes the importance and need for health insurance policies for diabetes being offered by several insurance companies in the market.

Many insurance companies have planned their policies keeping lifestyle diseases like diabetes in mind. The premiums of such plans are also different from other general insurance policies. As diabetes falls under the high risk category of diseases, finding the most suitable insurance policy pertaining to the needs and requirement of the insurance seeker and with the lowest premium is not easy.

Here we are taking a look at some of the best insurance policies in India for diabetic patients:

1. Diabetes Safe Insurance Policy – Star Health Insurance Co

Offered by Star Health Insurance Company for diabetics patients, this policy provides individual and floater (self and spouse) coverage. The plan requires a medical screening totally covered under the plan and provides coverage from day one. If the policy is rejected after the screening, 50% of the medical screening will be charged to the policy seeker.

Salient features of the policy:

# Entry Age: Any diabetic between 18 and 65 years

# Sum Insured: Rs 3 lakh, 4 lakh, 5 lakh and 10 lakh

# Sub-limits: No sub-limits for claims under Plan A. For Plan B, there is a sub-limit of Rs 2 lakh for 3 lakh sum insured and 4 lakh for 10 lakh sum insured (Cardiovascular diseases)

# Network of over 6000 hospitals across India

What does the policy cover:

# Hospitalization for complications arising due to diabetes (section 1)

# Hospitalization for all other illnesses (section 2)

# Pre-hospitalization expenses up to 30 days prior to the date of hospitalization

# Post-hospitalization expenses up to 60 days after discharge from the hospital not exceeding 7% of the hospitalization expenses or Rs. 5000

# Several post-renal transplant complications of the insured

# Second transplant owing to failure of the first transplant

# Hospitalization expenses on donor of kidney for renal transplant surgery

# Automatic restoration of basic Sum Insured by 100% (Floater Policy)

# Cost of artificial limbs due to amputation up to 10% of the Sum Insured

What it doesn’t cover:

# Costs of immune-suppressive drugs

# Diabetes Mellitus Type II

# Diabetic Retinopathy and Diabetic Nephropathy leading to Chronic Renal failure and Diabetic foot ulcer

Below is the premium chart for the Diabetes Safe Insurance Policy for an individual:

PLAN A

PLAN B

Age in years

300000

400000

500000

1000000

300000

400000

500000

1000000

Premium Rs.

18-30

8270

10340

11895

15465

10195

12745

14660

19060

31-35

8910

11140

12815

16660

11315

14145

16270

21155

36-40

9765

12210

14045

18260

13190

16490

18965

24655

41-45

11590

14490

16665

21665

15790

19740

22705

29520

46-50

15385

19235

22125

28765

18905

23635

27185

35345

51-55

19415

24270

27915

36290

24050

30065

34575

44950

56-60

24155

30195

34725

45145

30250

37815

43490

56540

61-65

31365

39210

45095

58625

42345

52935

60880

79145

66-70

41960

52450

60320

78420

55955

69945

80440

104575

71-75

53935

67420

77535

100800

68055

85070

97835

127190

76-80

67375

84220

96855

125915

87715

109645

126095

163925

Above 80

82335

102920

118360

153870

105860

132325

152175

197830

2. Energy Insurance Policy – Apollo Munich Health Insurance

Energy Insurance Policy from Apollo Munich Health Insurance is a plan that offers coverage from Day one for all hospitalization arising out of Diabetes and Hypertension and has no waiting period. The plan is a combined package providing coverage for Inpatient hospitalization expenses along with an ecosystem of wellness program & health rewards that help you monitor your health.

Salient features of the policy:

# It offers coverage from the age of 18 years to 65 years for individuals with Type 2 Diabetes Mellitus, Impaired Fasting Glucose (IFG), Impaired Glucose Tolerance (IGT) and/or Hypertension.

# Your premium at renewal may change due to a change in your age or changes in the applicable tax rate.

# The policy is issued for 1 year.

# The plan has 2 variants – Gold (cost of wellness test included) & Silver (cost of wellness test excluded), both available with/ without the co-payment option of 20%.

What does the plan cover:

# Day 1 coverage for all hospitalization arising out of Diabetes and Hypertension (with no waiting period)

# Inpatient hospitalization coverage with no sublimit, including coverage for pre and post hospitalization.

# Sum insured options ranging from Rs 2 lakh to Rs 10 lakh.

# An optional diagnostic monitoring program which includes a doctor consultation, to monitor and manage your health, among others.

What it doesn’t cover:

# Expenses arising from HIV or AIDS and related diseases.

# Congenital diseases, mental disorder or insanity, cosmetic surgery and weight control treatments.

# Abuse of intoxicant or hallucinogenic substances like intoxicating drugs and alcohol.

# Hospitalization due to war or an act of war or due to a nuclear, chemical or biological weapon and radiation of any kind.

# Pregnancy, dental treatment, external aids and appliances unless covered under the Plan, among others.

3. Varishta Mediclaim Insurance Policy – National Insurance

The Varishta Mediclaim Insurance Policy offered by National Insurance is one of the best policies available in the country. Keeping in mind the diabetics patients and their needs, the policy also covers senior citizens in the entry age.

Salient features of the policy:

# The insured person can opt for a premium discount of 5% for each claim-free year till it reaches 50%

# Or he can select to increase the sum amount by the amount of the cumulative bonus at the time of renewal of the policy.

# A pre policy medical checkup is not needed for the benefactor if the insured was covered under any health insurance for the preceding three years. For the rest, a pre policy medical checkup is necessary.

What does the policy covers

# Room, boarding expenses as provided by the hospital or the nursing home

# Covered upto 1% of the sum insured per day. ICU admission increases the cover to 2% (maximum is 25% of sum insured per illness)

# Medical practitioner, surgeon, nursing expenses, anesthetist, specialist fees

# Covered up to 25% of the sum insured per illness, among others.

What it doesn’t cover:

# Paralysis and blindness at an extra premium

# Requires additional premium which equals to 15% in each case or 25% in case of both covers together.

Out of various plans, the above 3 plans are the most suitable plans one can opt for in case of diabetics. An insurance seeker should always look for the key points and take away from the policy before making the final decision. They should specially focus on the premium of the plan. Also, the cost covered and sub-limits under the plan play an important role. So, balance out the pros and cons of the policies for your own good and make a wise choice!

(The author is Founder & CEO, PolicyX.com)

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