Diabetes can harm your financial health too, get covered

Written on Monday, September 7, 2015
By Narender Anand, Sr. VP & Product Head - GI, Bajaj Capital Ltd.

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If you look around, you would realize a good number of people you know are diabetic. In fact, our country has the second biggest pool of people suffering from diabetes. We have close to 67 million cases and the number is of great concern as by 2030 it will touch 100 million. An inactive life, which involves lack of exercise and poor calorie management, is one of the biggest contributors to the dreaded disease of diabetes, today. Desk job requires continuous presence on your seat and you have to sit for hours and hours at a stretch making you prone to such medical conditions.

Diabetes, being a common medical term in every house hold, people are aware of the causes and medication but what they lack is precaution. A study conducted by International Diabetes Federation reports- close to 52% Indians are not even aware that they are suffering from high blood pressure. It is because we are not habitual of regular medical precautionary tests. It's high time and we have to accept the truth of our unhealthy lifestyle and make it a point to get precautionary tests done every three months even if everything seems normal.

Diabetes not just simply puts restriction on your working and eating habits but also leaves a heavy scar on your financial health each month. The cost of blood tests, medicines, fee of doctor, insulin and other necessary things cannot be avoided but yes, it can be managed to minimize your expenses. Health insurance will prove to be your good friend in case you have a regular medical expenditure taking toll on your pocket. Traditionally, diabetes related expenses are not covered in your health insurance but in recent times, insurance providers have come up with special insurance plans for diabetes patients or have included a separate cover under the same plan with some additional premium amount.

Some of the insurance plans you can opt for diabetes coverage-

Diabetes Safe from Star Health Insurance:
This is a specialized comprehensive health plan available for people suffering from type 2 diabetes.

Energy from Apollo Munich Health Insurance: It offers health coverage to individuals living with diabetes mellitus 2 and/or hypertension. This product not only covers you in case of hospitalization but also provides a health eco-system to help manage your health better and also rewards them with special offers from health partners to help aid and achieve overall well-being.

Diabetes Care from ICICI Prudential: This acts as a critical illness plan and offers a lump-sum payment on diagnosis of any one of the six critical illnesses listed under the policy that diabetic patients are prone to.

However, if you find the premiums on higher side you can try other regular health insurance policies covering individuals with diabetes. And if your diabetes is under control, insurers don't even load the premiums. But you would have to wait out the initial period during which pre-existing ailments are not covered. 

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