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Ref. No. KLI/22-23/E-BB/492
Insurance for your health is crucial if you have diabetes. Before any complications develop, you must attempt to understand it completely.
The World Health Organization (WHO) estimates that 8.7% of Indians between the ages of 20 and 70 have diabetes. Numerous factors, including urbanisation, sedentary lifestyles, bad diets, cigarette use, and an extended life expectancy, contribute to the rising incidence of diabetes.
Many diabetic people might believe they are ineligible for medical insurance due to their condition; however, this is untrue. Pre-existing sickness coverage, cashless hospitalisation, pre- and post-hospitalization coverage, and coverage for childcare procedures are all included in health insurance with diabetes coverage.
Under health insurance with diabetes coverage, there are also particular exclusions, such as comprehensive diabetes insurance plans with waiting-for period restrictions and type 1 and type 2 diabetes coverage that excludes certain costs. Therefore, before making an investment in such important policies, it is imperative to thoroughly examine the terms and conditions.
Analyzing your needs should be the first step you take before making a purchase. It doesn’t matter if you desire it for yourself or a member of your family, if it was recently discovered or was a pre-existing condition, or if it is insulin resistance or insulin-dependent diabetes. You should evaluate each of these factors because the treatment price may differ. Your health insurance should cover all of your medical requirements, from diagnosis through hospitalisation.
Setting a budget before deciding on diabetes insurance is a good idea. Higher or cheaper premiums do not always guarantee maximum coverage. Companies may provide affordable premiums that may fit your budget but fall short of meeting all of your needs. Therefore, to choose the most appropriate plan, consider the bigger picture while keeping premium cost and policy coverage in mind.
These days, you can find health insurance rate calculators on the websites of insurance companies. You only need to provide the necessary information to see how much premium providers are charging. You can then choose the option that won’t strain your finances by comparing the premium with the coverage that insurers are offering.
You should search for the many coverage options offered to customers when browsing health insurance companies. A good diabetes health insurance policy should cover pre- and post-hospitalization costs, diagnosis costs, treatment costs, and medication costs. You should include features like organ donation, daycare care, dialysis coverage, ambulance coverage, second opinions, and more in your health insurance.
Diseases that are not covered by health insurance policies are considered exclusions. You should request the list of exclusions from the insurance agent before agreeing to anything. Check out the conditions for not being able to file a claim. The greatest health insurance plan provides the broadest coverage with the fewest exclusions.
The best health insurance policy will therefore have the right ratio of a lower premium, bigger insured amount, maximum coverage, and few exclusions. As a result, you should exercise caution while choosing a diabetic insurance plan online. Therefore, consider all these factors before purchasing health insurance to ensure that it will assist you and your loved ones in combating diabetes.
Things to keep in mind before buying a health insurance plan for diabetics
Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.
Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors
Ref. No. KLI/22-23/E-BB/2435
The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The content has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Further customer is the advised to go through the sales brochure before conducting any sale. Above illustrations are only for understanding, it is not directly or indirectly related to the performance of any product or plans of Kotak Life.
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