Health Insurance for Diabetes
What is Health Insurance for Diabetes?
Why do you need Health Insurance for Diabetes?
- Prevalence of Diabetes
- Prevalence in senior citizens
- Increase in Type-1 Diabetes
In India, having a diabetes health insurance plan is becoming a mandatory requirement. This is because as per WHO (World Health Organization), the prevalence of diabetes globally among the adult population, i.e., over 18 years of age is 8.5% as of 2014. Among the adult population in India, an estimated 72.96 million diabetes cases already exist, and their prevalence in urban areas is 10.9% and 14.2%. In contrast, in rural areas, it is 3 to 7.8% in the young population but much higher among individuals over 50. Source: INDIAB Study
- As of 2019, the prevalence of diabetes is 11.8% in India
- High % of diabetes among 70-79-year old at 13.2%
- Type 1 diabetes increases by 3-5% in India each year
- Type 2 diabetes increases by 8% on an average each year
- Lifestyle, dietary habits, cholesterol, obesity, environment, pollution, etc. are some factors that contribute to a high number of diabetics in the country
5 reasons to buy diabetes health insurance from Bajaj Finserv Health
- 1Healthcare expensesThe plan covers your regular healthcare expenses like doctor consultation fees, lab test fees, preventive health check-ups, etc.
- 2Doctor consultationYou get free online doctor teleconsultations. If you do not want to step out of the house or need medical intervention 24/7, you can consult top specialists online.
- 3Network discountsYou can avail network discounts across Bajaj Health’s vast network PAN India for doctor consultation, hospitalization, lab tests, hospital room rent, buying medicines, dental care, eye wear and more.
- 4Cashless treatmentYou can avail cashless treatment at network hospitals or get bills reimbursed at non-network hospitals, clinics, etc
- 5Easy Claim SettlementClaim settlement process is fairly easy and hassle-free. Claim settlement ratio is 92.1%
Features of Health Insurance for Diabetes in India
For someone who is a diabetic or is pre-diabetic, or is at higher risk of getting diabetes, they must get a diabetes health insurance plan. This plan should have must-have features like:
- Minimum waiting period and maximum benefits; the standard waiting period is 12 months to 2 years and can sometimes be extended to 4 years
- The number and relevance of the tests, specialists and services included in their packages and offerings.
- Specialists that provide customized dietary plans, counseling on dealing with the different problems of diabetes, and a feasible exercise routine
- Rewards and Incentives for achieving health goals and following the prescribed plan
- Terms and Conditions that are most suited for your specific needs, income, and lifestyle
Benefits of health insurance for diabetes in India
Doctor consultation fees
Lab tests
Hospitalization expenses cover
Pre-hospitalization cover and more
The Higher your BMI Higher your Chance to get Diabetes
Keep your health in check with our BMI Calculator
Why just health insurance? Get a complete Diabetes Health Insurance package!
Did you know that stress contributes to high sugar levels, and this is one of the major contributing factors to diabetes?
Diabetes is a common lifestyle disease today and you may get diabetes even if there is no history of the disease in your family. This is because is heavily influenced by your lifestyle. Therefore, to tackle the medical costs and healthcare expenses of such a condition, a specialized diabetes health insurance packages is require.
Having medical coverage significantly lowers medical costs, and therefore, stress. A specialized diabetes insurance package like ours ensures that you will always have a safety net from the surprises and obstacles the disease might throw in your way.
With the pandemic still dominating our lives, it has never been more urgent to get a solid diabetes health insurance cover.
So why not any generic health insurance plan?
A specialized diabetes health insurance plan that includes carefully curated test packages, consults, preventive health checkups, teleconsultation, and discounts is quicker, more economic and most importantly, relevant in a way that gives a clear picture of how your body is functioning in these circumstances. Take remedial and preventive measures as the situation demands. For example, if you have risk factors like a family history of diabetes or you are pre-diabetic, you can take steps that will enable you to prevent the onset of the disease and live life to the fullest.
To help you live your life uninterrupted, we provide a comprehensive diabetic health insurance package that supports you in every way possible. We have got, not just your proverbial back, but all of you with specialized benefits on doctor consults, preventive health check-ups, teleconsultation, and network discounts.
How to choose the right diabetes health insurance package for you?
When looking for the right diabetes health insurance package, you need to check for the following parameters in the package
Helps you beat medical inflation:Your diabetes health insurance package should cover the costs of tests, doctor visits, treatments, etc. so that it eases your financial burden.
Waiting period:Check the waiting period timeline so that you can avail timely treatments
Affordable premium:The premium you pay for your diabetes plan should be affordable
Cover for life support treatments:The plan should cover dialysis, cataract surgery, organ transplant, etc.
Covers all health tests : Blood tests like Lipid profile, kidney function test, liver function test, HB1AC, TSH, etc.
Cardiac health cover:This plan should also cover your heart health care & treatment.
Your 7-point Checklist for Selecting the Best Diabetes Health Insurance Plan
Cover amount
You need to check your cover amount so that you can get maximum amount as a claim in case of diabetes-related medical emergency. This cover amount is your sum insured.No Sub-limit
The sub-limit is a fixed cover amount for specific claims for specific illnesses or conditions. Ensure there is no sub limit in your diabetes health insurance policy.Co-pay vs No Co-pay
Co-pay means that you will have pay 10% of the cost incurred on your health claims and the rest will be paid by your insurer. You can choose either options. However, with co-pay, your premium is lower but you will have to shell out some money while with no co-pay, the premium is higher but your insurer pays complete claim amount.Waiting period
You need to be very careful regarding the waiting period in your policy. For pre-existing illnesses like diabetes, the waiting period can go upto 1 year. However, if you are diagnosed with diabetes within 3 months of the policy purchase, you can avail/claim benefits as per normal waiting period.Beyond hospitalization
You need to check what health and wellness benefits you will get as a part of your policy beyond hospitalization care.Brand Awareness
Yes, a good brand is a big deciding factor when it comes to your health insurance plan. So, choose wisely.Claim Settlement Ratio
This is important as it shows the company helps process claims easily and in a hassle-free manner. Bajaj Finserv Health’s claim settlement ratio is 92.1%.
Here are the coverage offered by Bajaj Finserv Health
Lab Test Package (Prime network)
Apart from symptom-response tests, we have created packages of diabetes-specific tests in association with Bajaj Finserv Health Prime Partner Hospitals and labs which identify risk factors like lifestyle, age, and family history and allow you to take pre-emptive measures to safeguard against diabetes.
OPD/Doctor Consultation Benefit
Claim the OPD/Doctor consultation benefit for you and any member of your plan when you consult an Endocrinologist, Dietician or General Physician with a minimum degree of MBBS, BDS, BAMS, or BHMS for diabetes-related issues.
Teleconsultation Benefit
No need to step out during the pandemic, you consult your preferred doctor online via the Bajaj Finserv Health website or app via video, audio, or chat channel according to the frequency of consultation and up to the amount covered by your plan.
Eligibility Criteria:
Minimum and Maximum Age Limit: 91 days is the minimum age limit required for an individual being enrolled in under the Diabetes Care Insurance Plan. There is no upper limit on eligibility based on age.
Pre-Existing Diabetes:medical checkup is mandatory for those being enrolled in the Diabetes Care Insurance Plan to determine if diabetes is a pre-existing condition or not.
Eligibility Criteria:
- Minimum & Maximum age91 days minimum age
- Pre-existing diabetesMandatory medical checkup is required
How to calculate health insurance premium?
- 1Enter your name and mobile number.
- 2Select the family members whom you want to insure.
- 3Enter the eldest member's age
- 4Get your premium
10 factors that affect your health insurance premium:
Health Insurance is a must for any individual or family who are looking to secure their health and financial future. Owing to medical inflation in the recent years, the cost of medical treatment and procedures often drains one’s lifetime savings and acts a burden. However, getting a health insurance means adding a fall-back cushion to safeguard savings as well as get tax benefits.
As you apply for a health insurance plan, the insurance providers do a thorough check/assessment of your health. Basis your health status, they offer a premium amount for the plan.
Your age is a major factor on which the health insurance premium will be decided. Most companies follow this mantra – the higher the age of the insured, the higher the premium to be paid. This is because older people are prone to illnesses. It is advisable to buy a health insurance plan when you are younger to enjoy more benefits and pay a lower premium.
Your occupation or the nature of your work will also determine the health risks you may be exposed to. Given our hectic lifestyles and sedentary jobs, you will be prone to stress, anxiety, etc. which will lead to other health issues. So, for example, if you have a high stress job, your premium will be higher.
Medical history plays a vital role too in deciding the premium. If you have a chronic illness, or have suffered from any past major illnesses, or if family history points to any pre-existing illnesses, your health insurance premium will go up.
If you have a co-pay feature in your health insurance plan, then your premium will be lower as a certain percentage of the medical costs will be borne by you and the rest by the insurance provider..
Habits. Yes, your habits matter a lot. For example, if you are a smoker, you are at risk of serious illnesses like cancer. If you drink regularly, you are at risk of chronic diseases. So, your premium will be higher.
Duration of your policy will also affect your premium. If have a longer duration for your policy, you will pay less premium.
Your BMI or Body Mass Index also affects your premium. If your BMI is high, then you are at a higher risk of chronic or lifestyle illnesses. This means you will pay a higher premium.
Location If you stay in locations where food, water, air quality is an issue, it will lead to serious health issues and therefore, your premium will be higher.
Your plan type affects your premium amount.
Why To Buy Health Insurance For Diabetes Online?
Ayurvedic and Homeopathic Hospitalization Cover.
Free Preventive Health Checkup Every 3 Years.
Bariatric Surgery Cover.
Zone-Wise Premium.
Lab Test Package (Prime network)-Take preventive/remedial measures against diabetes with a suitable lab test package.
OPD/Doctor Consultation Benefit-Get benefits on doctor consultations regarding diabetes and related health concerns.
Tele-consultation Benefits -Consult your doctor online via video, audio, or chat according to your convenience and safety.
Network discounts -10% discounts on across Bajaj Finserv Health Prime network of partner hospitals and labs.
How to buy health insurance for diabetes from Bajaj Finserv Health
- 1Step 1Log on to the website www.bajafinservhealth.in or download the ‘Bajaj Finserv Health’ app on your phone and sign up.
- 2Step 2Search for the Diabetes Health Insurance Plan.
- 3Step 3Click on ‘Apply Now’ and enter your basic details.
- 4Step 4Check and confirm application by entering the OTP received on your mobile number.
- 5Step 5Pay the premium via credit/debit card, UPI, mobile wallet, etc.
- 6ResultYou will receive the details of your membership via email/WhatsApp.
Tax savings with Health insurance for diabetes
The Bajaj Finserv Health Diabetes Health Insurance plan comes with more than a comprehensive cover against diabetes. According to the Income Tax Act of 1961, under Section 80D, you also get tax exemptions on premiums paid for diabetes health insurance policies up to a certain limit.
Basically, up to a certain limit, the amount you spend on health insurance gets deducted from your income, thus lowering your tax burden.
- As an individual you can claim a tax deduction of up to Rs 25,000 on insurance policies that include your family unit, i.e., you, your spouse, and your children.
- When your insurance policy caters to your parents who are under 60 years of age, you can claim an additional, separate deduction of Rs 25,000. If your parents are above 60 years, you can claim Rs 50,000.
- If both you and your parents are above 60 years of age, you can claim a deduction up to Rs 1,00,000
You can avail all your health insurance benefits PAN India. Explore our vast network partners.
An Easy, Hassle-Free And Quick Procedure
How to Claim Your Healthcare Benefits?
How to make cashless claims & reimbursements?
One useful tip just for you!
Myths Busted
FAQs
Diabetes Health Insurance is a specialized Health Insurance Policy created specifically for diabetes-related health issues.
2-4 years
Yes, like every other health insurance, Diabetes health insurance gives you tax benefits.
Yes. You can have more than one health insurance policy.
Yes. There are Diabetes Insurance plans for individuals as well as families and groups.
Apply for it on the website. For a comprehensive Diabetes health Insurance policy with Bajaj Finserv Health, sign up and apply at www.bajajfinservhealth.in.
Diabetes Health insurance is a specialized health insurance plan. The type of tests and consultation benefits are highly customized for diabetic patients. A generic Health Insurance plan covers a wide range of illnesses but lacks the kind of customization that a specialized plan offers.
If you want the benefits of a Diabetes health insurance policy, then yes. Your company’s group policy will not cover the specific dangers of diabetes. It depends on what you’re looking for and whether you have diabetes, are pre-diabetic, or are at risk.
Yes. If you already have diabetes, please declare it to your insurance agent.
To get health insurance plan for diabetes by Bajaj Finserv Health, log on to the insurance provider’s website and apply for it. With pre-existing diabetes, you will have a waiting period of 2-4 years before you can claim your insurance benefits.
It is a period given to a policy holder to review the insurance plan and ensure that they do want to go ahead with it since there won’t be 100% refunds after this period.
Bajaj Finserv Health Ltd.
About usCustomer serviceContact usBecome a partnerPrivacy policyTerms & ConditionsFinancial reportHealth Library
Health ArticlesCIN
U85320PN2019PLC185286Registered Office
Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035Corporate Address
Mantri IT Park, A wing,3rd floor, Nagar Road,
Viman Nagar, Pune, Maharashtra - 411 014
© 2021, Bajaj Finserv Health Limited. All rights reserved.