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Understanding why opting for a Diabetes health plan makes financial sense

Ravi, a young IT professional in his mid 30’s was diagnosed with type 2 diabetes. Living a sedentary lifestyle, long sitting hours at work and poor eating habits made Ravi prone to diabetes. Thankfully, being a positive person, choose to improve his lifestyle to ensure he is able to lead a healthy life.

In India, there are many like Ravi fighting a battle with Diabetes. In fact if the International Diabetes Federation (IDF) estimates are to be believed, the number of Indians suffering from Diabetes is likely to exceed the 100 million mark come 2030. While preventing diabetes requires a change in day to day living and holistic lifestyle, opting for a diabetes health plan can also be an important step in ensuring financial stability.

Why go in for a diabetes health plan?
Having a dedicated diabetes plan not only ensures a comprehensive cover, it also allows for tackling any diseases before they reach to a chronic stage hampering the health of the patient for the worse.

With a regular health plan, you may get a cover for any hospitalization cost for the first time post detection of diabetes but the future renewals and coverage may get severely impacted. Having a diabetes specific health insurance plan helps is dealing with diabetes associated hospitalization in a better and refined manner.

If you have a family history of diabetes, it is important for you to consider a diabetes heath plan. Most health insurance plans have a waiting period ranging from 1 to 4 years for diabetes. Having a diabetes specific plan ensures optimum protection from the start along with cover for diabetes associated complexities right from day one.

A comparison of two popular diabetes health insurance plans in India

Diabetes Health Plan Name Eligibility Sum Insured Entry-Exit Age Coverage
Star Health Insurance- Diabetes Safe Any individual already diagnosed with Diabetes Mellitus Rs.3,00,000/-, Rs.4,00,000/-, 5,00,000/- & Rs.10,00,000 18-65 years Covers hospitalization expenses for complications of Diabetes, both type 1 and type 2 and other than complications of diabetes
Apollo Munich Health Insurance- Energy All individuals with Type 2 Diabetes Mellitus, Impaired Fasting Glucose (IFG), Impaired Glucose Tolerance (IGT) and/or Hypertension Rs. 2 Lakhs to Rs. 10 Lakhs 18-65 years Day 1 coverage for all hospitalization arising out of Diabetes and Hypertension (with no waiting period), Inpatient hospitalization coverage with no sub limits.

Are the higher premiums of diabetes specialized plans worth it?
For those already diagnosed with diabetes and without diabetes specific plan in place, the higher premium cost can sometimes be a deterrent. Do not let the higher costs of premium make you ignore protective planning as being specialized plans they offer cover for ailments that can arise out of diabetes complications.

If you find yourself divided between seeking either a regular health plan versus a diabetes specific plan, opt for a specialized diabetes cover and then top up with a well oriented top up plan. A good option for couples suffering from diabetes is to go in for floater plans with a shared cover ensuring optimum protection without spending too much on diabetic specific insurance plans.

Diabetes is a serious lifestyle disease and requires both medical and financial protection. While ensuring a healthier lifestyle can keep you medically fit, opting for a diabetes specific plan can ensure financial protection against the dreaded disease and its complications.

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