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Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care and health system expenses, among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement.
Diabetes is becoming an increasingly worrying condition with more and more individuals, both old and young, falling prey to the disease. If numbers are any indication, the current victims of diabetes are about 65.1 million Indians and projections estimate this number to cross the 100 million mark by 2030.

Depressing, isn’t it? The ailment itself is manageable, but what makes matters worse is the cost, something which cannot be managed without diabetes insurance. Children too are not spared from the ailment as Type 1 diabetes attacks them and makes them prone to various ailments. Though controllable in earlier stages, Type 1 diabetes has severe long-term complications.

Diabetes, like any other ailment, starts simple but later complicates into a lot of associated ailments. Glaucoma or cataract in the eyes, kidney failure, heart ailments, stomach related disorders are just some of the many ailments which diabetes causes in the long run. As far as the treatment costs are concerned, it is rising at a rapid pace.  So what is the solution? A diabetes insurance policy is the one and the only solution in dealing with the long-term complications of diabetes. Here’s how:

    The medical costs are inflating and in the long run, the cost of any treatment related to diabetes is going to be exponential as compared to today. Having a diabetes insurance policy relieves the burden of this cost, because the plan pays for the medical expenses which are associated to your diabetic treatments.
    Specialized diabetes insurance plans are now easily available that exclusively cover diabetes related ailments and provide coverage even for Type 1 diabetes, an ailment which is more risky than the more common Type 2 diabetes.
    Whether you are being treated for cataract or hospitalized for an infection due to diabetes, the health plan would provide for all the complications. A diabetes insurance plan provides an exhaustive coverage which includes pre and post hospitalization, in-patient hospitalization and even day-care treatments. So the coverage umbrella includes all scope of diabetes complications making the plan all-inclusive.

Related-: Diabetes Health Insurance: What You Need to Know

These are the reasons why a diabetes insurance plan comes in handy when dealing with the long term complications of diabetes.
Here are certain points to remember when buying a diabetes insurance plan. They are:
The pre-existing clause

If you are already suffering from diabetes at the time of buying the plan, you would not be covered in the first few years of the plan, as it is a pre-existing illness and there is a waiting period for such an illness. This exclusion is applicable for 2-4 years depending on the plan. So, don’t be complacent when you buy the plan thinking your diabetes coverage would begin from Day 1. You would have to ‘wait’ for the complete waiting period. But since we are talking about the long-term complications, rest assured that your plan would cover you once the waiting period is over. An advice for you – buy the plan with the lowest waiting period.

Related-: Diabetes Insurance Plans in India
Optimum coverage

Don’t be stingy when buying a health plan. Buy a decent cover to provide for the rising expenses so that your health plan does not run out when it comes to paying the claim. If you feel the premium would be higher, be smart and buy a top-up or a super top-up plan; but be sure to have an optimum Sum Assured.
Specialized plans

Diabetes can also be tackled by specialized diabetes care plans which several insurers have launched. These plans are for those who have high diabetes and are facing its complications. The plans are unique in the sense that they have very low or no waiting periods and cover the costs associated with diabetes treatment almost immediately.

Some of these plans are:

    Apollo Munich Energy Plan – It covers Type 2 diabetes and can be taken for a Sum Assured ranging up to Rs.10 lakhs.
    Star Diabetes Safe Plan – Covers both Type 1 and Type 2 diabetes with a Sum Assured available up to Rs.10 lakhs.

For those diagnosed with diabetes in its initial stages, a simple health plan would be sufficient that would provide a wider coverage than the specialized plan.

So, now you know how your diabetes insurance plan can help you battle diabetes and the expenses related to its treatment, whether for your immediate use or for future long-term complications. So, don’t hesitate, buy a plan today and ensure that your diabetes does not wipe out your savings in treatment costs.