Best Health Insurance plans for Diabetics in India

The last few years have witnessed an increased number of movies surrounding the plot of protagonists (main characters) affected by chronic diseases and their struggles across life. Of course, we blame John Green (author of The Fault in Our Stars) for this trend. But what is undeniable is that - these movies have created a growing awareness among all regarding the existence and struggles of such critical and chronic diseases.

However, they are yet to cover some ailments and an essential aspect of how such individuals deal with their lives - the financial angle. What directors and authors can choose to ignore in movies and books,  in real life, isn’t an option.

When it comes to critical and chronic ailments, the financial strain of treating the main disease and its auxiliary ailments is massive. Such treatments can easily drain away one’s entire savings and then some. And the financial tool (health insurance) that can be a respite for the general population doesn’t work out for them because even with the best health insurance policies,

• There is an extensive waiting period for pre-existing ailments, and
• Insurers outright reject some disease coverage

Among such ailments is a prevalent one - diabetes. Referred to as the ‘Diabetes Capital of the World,’ India hosts 17% of the global diabetes population, which surmounts close to 80 million people. This number is predicted to increase to 135 million by 2045. Under such circumstances, it is only fitting that reputed health insurance providers across India build niche-specific insurance plans that would cater to the medical and financial requirements of diabetics.

But, such niche-specific plans rarely offer you all the features you seek, and they cover specific types of diabetes. So, how do you choose the best plans for someone with diabetes? What are the best plans for health insurance with diabetes? Also, should you at all be availing of such a niche-specific plan?

Take a look to find out all the answers to such queries!

Diabetes and Its Types in Health Insurance

Diabetes is a common ailment in which the blood sugar levels become abnormal, dangerously low, or high. Usually, the pancreas in the body of individuals secretes insulin that breaks down the consumed food into glucose. Glucose, in turn, transfers from the bloodstream into our cells, where it is broken down to give the body its required energy. However, in the case of diabetes, this insulin production is hampered, further affecting multiple organs' functioning.

Unfortunately, diabetes is a common ailment across the globe. Patients do not just undergo the physical ramifications of the disease but are on the receiving end of the financial crisis due to the charges of treatment.

You see, diabetes creates a domino effect of auxiliary ailments across one’s body. So, when one is diagnosed with diabetes, one cannot afford to concentrate solely on the main diagnosis. Instead, the psychological, physical, and financial anticipation of the other ailments is a mandate. And this is where health insurance plans for diabetics come to the rescue, or else the financial strain would be unbearable and deplete one’s savings swiftly.

Now, there are multiple types of diabetes -

Type 1 Diabetes - Usually diagnosed in the early childhood days, Type 1 Diabetes renders the patient completely dependent on Insulin.

Insurance standpoint: Type 1 Diabetes is rarely covered by insurance. However, you may find some plans (see below) that will offer coverage. But, you must also consider that there are always chances of rejection.

Type 2 Diabetes Normal - The reasons for acquiring Type 2 Diabetes range from lifestyle behavior to genetic factors and are caused due to the body’s inability to utilize the produced insulin.

Insurance standpoint: On one hand, it’s scary news that India is one of the countries with the highest diabetics patients. However, on the other hand, the silver lining is that since Type 2 Diabetes is the most prevalent diabetes among the population, a majority of health insurers offer coverage for the treatment of this type of diabetes.

Diabetes Insipidus - Caused by issues of the chemical called vasopressin (AVP) or antidiuretic hormone (ADH) produced in the body, Diabetes Insipidus creates a fluid imbalance and leave the patient parched despite increased consumption of liquid.

Insurance standpoint: Considering the complications surrounding this variety of diabetes, very rare insurance providers across the market offer coverage for the treatment of Diabetes Insipidus.

Pre-Diabetic - In this type of diabetes, while individuals do have a high blood sugar level, it isn’t high enough for Type 2 diabetes. However, without proper medical intervention, over a few years, this might become a Type 2 diabetes case.

Insurance standpoint: Health insurance plans for coverage of Pre-Diabetes are easy to find. And in most cases, the insurance provider demands no additional loading charges (Learn more on loading charges from our Health Insurance Glossary).

Gestational Diabetes - This is a variant of diabetes in which the diagnosis is first made during pregnancy. Considering that the blood sugar abnormality of the mother affects both the mother and the child, both are at risk for complications.

Insurance standpoint: Health insurance policies that offer this coverage are available. However, once the delivery is over, insurers would want you to catch up on whether this diabetes was just another pregnancy complication or a condition that is here to stay. In the latter case, you would need more specific health insurance for diabetic patients.

Each of these variants of diabetes carries with them a certain risk factor that can affect the patient's quality of life in the long run. Additionally, diabetic patients face increased chances of frequent hospitalization over auxiliary ailment complications. This significantly affects the patients' and families' physical and financial well-being.

And hence, the requirement of health insurance for diabetes patients. Here’s a close look at how and why these financial products have gained ground across the insurance market -

Why are Health Insurance Policies important for Diabetes patients?

Chronic ailment treatments do not come cheap. While multiple medical advancements are being made to cure and/or manage these illnesses, these expenses aren’t exactly pocket-friendly.

Under such circumstances, patients need financial aid to ensure they have convenient access to premium healthcare services sans compromising their future savings. This calls for the best health insurance for diabetic patients in India. As to why it is suggested -

High cost of treatment

Whether we are talking about an insulin-mode disorder or an oral medicine solution-based diabetes, none incur small charges. From treatment to doctor’s visits, diagnostic tests, to hospitalizations - diabetic patients are looking at a hefty bill. With the health scare already in place, the last thing they need is a financial scare.

With diabetes insurance plans, policyholders will look at a nominal annual do-away from their savings over premiums that would, in return, offer them extensive coverage to fund hospitalization expenses.

Auxiliary ailments = Added bills = Mitigated savings

Diabetes is a domino-starter ailment. Once diagnosed with diabetes (irrespective of its type), patients can anticipate numerous issues arising due to their blood sugar affecting multiple organs.

• Chronic kidney disease,
• Cardiac issues,
• Nerve damage,
• Vision impairment, and
• Damage to large and small blood vessels

- are the most common auxiliary health issues arising due to diabetes. In the long term, patients would need substantial funding to deal with the treatment and management of such diseases. Diabetic patients may need kidney dialysis, cataract surgery, or heart surgery in the future.

And for this, they need financial aid as soon as the diagnosis has been made (in case they haven’t already availed of a health insurance plan when they were fit & healthy). This will help them sit out the waiting period and have access to the funds when the condition deteriorates.

With the reasons laid out, you surely understand why we keep reiterating the importance of availing of a diabetes health insurance plan. Now, as to how you should choose such a health insurance policy, here are a few factors -

How to choose the best health insurance plan for diabetic patients?

As health insurance experts say, insurance is now a customizable financial tool. All you need to know is what you should prioritize based on your current medical condition, and use a free health insurance plan comparison tool to help you sieve the best possible policy for you.

Type of diabetes covered

There are multiple variants of Diabetes, and there are dedicated health insurance plans for different types of diabetes. So, make sure you search for plans that offer coverage for the required diabetes variant.

(you can also check the table below to know which plan caters to which diabetes variant).

Waiting period on pre-existing period

For standard health insurance plans, there is always a waiting period for pre-existing ailments (barring corporate health insurance plans, which usually have no waiting period for any pre-existing conditions).

However, for certain diabetes health insurance policies, there is no waiting period (like HDFC Ergo Energy). And with a diagnosis of diabetes hanging on your shoulders and the imminent financial burden knocking at your door, it is always best to go for a plan with a minimum waiting period.

[On the other hand, it would also be best to ask your advisor for a plan with a nominal waiting period and a plan with 0 waiting period. You can always compare the premiums for the plans and make sure that you choose a plan that best caters to your financial and medical condition.]

Loading Charges

Considering that the policyholder’s medical condition puts him/her at a higher risk of payout for the insurers, they may include an additional amount on the premium to be paid. This surplus amount is called loading charges. For diabetic patients, more or less all health insurance companies demand a loading charge.

The amount and compulsion of loading charges for diabetes depend on -

1. Insurance provider
2. Health insurance plan availed
3. Type of diabetes

If you can land on an insurer that requires nominal to no loading charges, you will be successfully paying a lower premium, lowering your financial strains.

Disease-wise sub-limit

Even during the purchasing of a standard health insurance policy, it is advised by experts to go for a plan with no disease-wise sub-limits. This means your treatment charges aren’t capped, thereby safeguarding your savings.

In the case of health insurance for diabetic patients, make sure you choose a policy that specifically has no disease-wise sub-limits on the treatment of diabetes and/or any auxiliary complications arising out of it. This would justify your purchase of a niche-specific product that caters to your diabetes diagnosis.

Restoration

As stated earlier, diabetes as a disease often triggers complications across the entire organ board of one’s body. This means multiple hospitalizations across a year leading to increased financial strain and high chances of exhausting the sum insured on your base health insurance policy.

The best way to deal with this would be to avail of a health insurance plan with a restoration benefit. Preferably opt for the unlimited restoration option that disburses the amount on a partial exhaustion basis. This would keep your sum insured filled to the brim even after multiple claims (restrictions on the maximum number of claims varies from one insurer to the other). You can head to our blog, hyperlinked above, to learn more about this.

(P.S. You can also opt for a Super Top-Up plan on your existing health insurance policy to extend your sum insured)

Based on the aforementioned factors, our expert advisors have a few health insurance for diabetes patients in mind. Take a look -

Best health insurance plans for Diabetics in India

Should you avail of a Diabetes Health Insurance policy?

While everyone acknowledges the financial draining that occurs during the treatment of a cancer patient, not many know that this is true for diabetic patients as well (except, of course, those with the 1st hand experience with it).

Considering the prolonged treatment of such a predominant chronic ailment, it is only logical that one takes up a financial security net so that the treatment doesn’t push the family into a financial crunch and yet doesn’t compromise the chances at disease management.

However, targeting niche-specific health insurance often short-sights you since you are left vulnerable to other financial burdens insured in treating any other ailments. So, we suggest approaching a comprehensive health insurance plan that prioritizes your current medical condition but offers satisfactory coverage for any other ailments. This would prevent you from purchasing an additional policy to prevent miscellaneous ailments and stop you from making redundant expenses over the premium payment for 2 separate plans.