Claims Related To Diabetes Have Gone Up By 120%
Despite the fact that India is known as ‘the Diabetes capital of the world’, there are only a few health insurers which are able to address the needs of Diabetics in the country.
It has been noted that people aged between 20 years and 30 years are more stricken with Diabetes. A business daily cited claims analysed by Bajaj Allianz sharing that during 2016-2019, claims related to Diabetes have gone up by 120%. The increase is even greater when it comes to the gage group of 20-30 years, that is 164%.
On average, a Diabetic patient spends Rs. 3000-Rs. 4,000 every month on medicines, tests, diet, and internal secretion. And as per Bajaj Allianz, the typical claim size for these patients is Rs. 80,000. Considering the high cost of treatment for the disease, an individual must be prepared to bear the impact of this disease for which he/she might need Diabetes Health Insurance.
But a thing to note here is that if you are already diabetic, you might be refused for regular health insurance plans. Even if an insurer decides to provide him cover, he might have to pay an extra premium for the plan. A better option, in this case, will be going for a dedicated health insurance plan for Diabetes.
As per experts, it is always a better option to go for family floater plan as it covers all your family members in a single policy before you are diagnosed with diabetes or any other disease instead of purchasing a disease-specific plan when diagnosed with it. But there will be no waiting amount if you buy Diabetes specific plan. Anyone aged between 18 and 65 years of age can buy this plan who is already affected by Diabetes.
There are two options to buy a Diabetes specific health insurance plan-on individual basis or on family floater basis. A few plans offer two options-requirement of pre-acceptance medical screening or no pre-acceptance medical screening. In the former, there is no waiting amount, whereas in former, there is a waiting amount of 15 months.
Quite many Diabetes specific health insurance plans additionally cowl out-patient expenses for medical consultations, medications, consultations, diagnostic tests etc. Almost all the insurers currently offer Diabetes insurance plans. To finalise the best one for yourself, you must draw a comparison and pay for the most suitable one.
