Diabetes Insurance Explained by Bajaj Allianz
Apr 27, 2021

Health Insurance for Diabetes

Everyone knows the importance of having health insurance. Even if one takes good care of their health, they can develop health conditions at any time, which can be financially strenuous for many. This is where health insurance can help you to cover any health-related expenses such as medicines and hospitalization. But things can get a bit more complicated when it comes to diabetes, and due to the extra care and attention required by diabetics, the health insurance for diabetes might not be as straightforward.   Diabetes is a condition wherein the insulin levels in your body go higher or lower than normal levels. Essentially, it becomes difficult for the body to manage its own blood sugar levels. If not adequately managed with care, it can lead to other health complications over time.   Since it needs special care, it can put the family under financial strain. It can lead to the medical bills piling up and can be a definite emotional and monetary burden.   Therefore, when availing health insurance for diabetes it is important to consider a few things and keep certain factors and perimeters in mind -  
  • The coverage offered 
When getting health insurance for diabetes, see what the scope of the coverage is. This is crucial as it determines the total sum assured that the patient will get. The diabetes insurance must cover the cost of doctor visits, medicines, insulin shots, extra medical support, and any complications that might arise due to diabetes. Any case of insufficient coverage will require you to additionally pay from your own pocket at the time of hospitalisation.  
  • The waiting period 
Diabetes is an ailment that is considered as a pre existing disease in health insurance and thus requires a waiting period. A waiting period is that duration when the insurance policy does not cover the treatment cost of the beneficiary. At the time of purchase, the waiting period can last two or even four years, and therefore any health issue that might occur during this period is not covered. Therefore, the waiting period must be checked and confirmed before the purchase of diabetes insurance.  
  • The payable premiums 
Usually, the premiums might be higher for diabetes insurance as compared to regular health insurance. Since insurance companies treat it as a pre-existing ailment resulting an impact on the payable premiums. But also keep in mind that the coverage offered will match the premiums, so if you are a patient it shouldn't hold you back from availing the best health insurance for diabetics.  
  • Cashless treatment
Once the waiting period is over, many health insurance companies offer cashless treatment. This advantage is offered to certain pre-listed hospitals, also known as network hospitals. When buying health insurance for diabetes, make sure your policy has cashless claim settlement. It will help you save the financial burden of treatment. Thus, be wise and invest in the best cashless health insurance for diabetics.   Diabetes can be a challenging condition as it requires constant care and medical attention. But it doesn't have to take a toll on your finances. With the right insurance cover for diabetes, you and your family can lead a stress-free, relaxed, and healthy life.

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