Diabetes insurance plans to ease off your financial burden (World Diabetes Day Special)
Written on Friday, November 13, 2015
By Vishwajeet Parashar- Senior VP & Group Head - Marketing, Bajaj Capital Ltd.
Along with Children’s Day, 14th November every year is now also observed as World Diabetes Day. Being a financial services company we should have advised you some good plans for your child’s future as we also celebrate children’s day but we decided to shift your attention to something which is grave and growing at an alarming rate. You would be shocked to know that today we have close to 69 million people suffering from diabetes in India and by 2030 this figure will shoot up to 100 million. It is estimated that every fifth person in this world suffering from diabetes will be an Indian. Today, in this fast moving world, we are in a rush of achieving maximum. To match the pace of rush, we overlook everything, even our health and this is one of the biggest reasons why diabetes is growing at an alarming rate.
Let’s have a look at what exactly diabetes is and how it affects us, so that we can better prepare ourselves for the battle ahead. Diabetes is a chronic disease in which our body cannot regulate the amount of sugar in the blood. It can be caused by too little insulin, resistance to insulin, or both.
There are broadly two types of diabetes-
Type 1 Diabetes
It can occur at any age, but it is most often diagnosed in children, teens, or young adults. In this disease, the body makes little or no insulin. This is because the pancreas cells that makes insulin stops working. Patient needs daily insulin injections to balance the requirement.
Type 2 Diabetes
This is much more common as it most often occurs in adulthood, but because of high obesity rates, teens and young adults are too getting diagnosed with type 2 diabetes. It is also observed that people with the condition do know actually realize that they are suffering from it.
Prevention of Diabetes-
Simple lifestyle measures have been effective in preventing or delaying the onset of type 2 diabetes. To help prevent diabetes and its complication, you should achieve and maintain healthy body weight. Be more active physically with at least 30 minutes of regular, moderate-intensity activity on most days. More activity is required for weight control. Go for a healthy diet that includes 3 and 5 servings of fruits and vegetable a day and reduce the intake of sugar and saturated fat. You need to avoid tobacco products as it can increase the risk of cardiovascular diseases.
Ease off the financial Burden
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.
-Can be availed by people between the age group of 26 to 65 years and are diagnosed with Diabetes Mellitus Type II
-Renewals are allowed till 70 years of age
-Hospitalization expenses on donor of kidney are payable
-If the first transplant fails, then the expenses of the second transplant is also payable
-Hospitalization cover which includes room charges up to 2% of the sum insured per day
-Nursing expenses and Surgeon's fees,
-Fees of Consultant, Anesthetist and Specialist are also provided
-Cost incurred on purchasing medicines and drugs
-Certain treatment is covered under this plan which results due to Diabetes Mellitus Type II
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.
- It’s meant for people who already have diabetes.
- It covers this pre-existing ailment right from the time the policy is issued. So, if you are suffering from pre-diabetes and type-2 diabetes (type-1 diabetes is not included), this policy will cover you.
- Each individual will have to undergo a medical test on the basis of which the cover would be offered.
- Individuals who have had major complications from diabetes or who have been dependent on insulin for a long time will not be covered.
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.
-Lump-sum payment on diagnosis of any one of the six critical illnesses
-Optional cover for eye & foot complications
-Wellness program - 3 Free check-ups and a consultation with a doctor every year
-Reduced Premium on display of good control
-Tie-ups with leading healthcare partners to help you Manage diabetes
-Web support for better diabetes control
-Tax benefit under Section 80D of the Income Tax Act