Diabetic Health Insurance plans:
The one plan for diabetic patients

Posted on May, 2021

Diabetes is an ongoing battle, with over 463 million patients worldwide, of which 77 million reside in India. As unfortunate as it is that the illness has no cure yet, patients can manage its adverse effects by taking precautions and maintaining a healthy lifestyle. However, managing diabetes comes with regular expenses incurred on daily medicines, regular check-ups and hospitalisation costs. Over time, these steady expenses can push the patient to a path of negligible savings and create a financial burden.

Most health insurance policies exclude the costs incurred on the management and treatment of diabetes. It is only through a Diabetic Health Insurance Plan that a patient can cover almost every expense included in diabetes treatment.

What are Diabetic Health Insurance Plans?

Diabetic patients in India find it difficult to have an insurance policy that specifically caters to a patient’s financial needs arising due to diabetes. A Diabetic Health Insurance Plan is a type of insurance policy directed towards covering the costs related to the treatment of diabetes. Suppose a patient currently has diabetes or is at a higher risk of diagnosis in the future. In that case, he/she can buy a comprehensive diabetes health insurance plan to cover the treatment costs.

Diabetic Health Insurance Plans: The saviour for a diabetic patient

A diabetic health insurance plan can allow the patient to manage the ever-growing expenses included in the treatment and get possible medical care. The policy is ideal because of the following features: Some diabetic health insurance plans cover out-patient expenses such as doctor’s consultation (both physical or online), regular health check-ups and other treatment costs such as:

Diagnostic Tests’ Expenses:

Diabetic patients require to undergo regular diagnostic tests such as HbA1C to calculate the blood sugar levels that can fluctuate over time. A comprehensive diabetic health insurance policy covers the costs related to these diagnostic tests done regularly.

Cost of Medicines:

Diabetic patients have to take preventive medicines daily to mitigate the adverse effects of diabetes. As these medicines are costly, buying them regularly becomes an expensive affair over time. A diabetic health insurance plan covers the costs of these medicines, allowing the policyholder to save more by not having to pay for the medicines for his/her pocket.

Hospitalisation Costs:

In case of complications arising from diabetes, the patient can be hospitalised for several days. Hospitalisation and treatment costs for diabetic patients are significantly high. However, if the patient has a diabetic health insurance plan, the policy would cover all the hospitalisation costs related to Type 1 and Type 2 diabetes treatment.

Tax Benefits:

Along with offering numerous health benefits, a diabetic health insurance plan allows the policyholder to save tax under section 80D of the Income Tax Act, 1961. The policyholder can claim tax benefits as a deduction on the paid premium up to Rs 75,000.

If you are a diabetic patient or are at a diagnosis risk, a traditional health insurance policy will fall short on catering to your treatment needs. With a diabetic health insurance policy, you can get the specialised treatment required in the successful management of diabetes. The policy also provides the facility to customise it through insurance add-ons and riders to make it suitable according to your current medical situation and general lifestyle. An all-inclusive diabetes insurance plan can allow you to cover significant expenses by just paying a small amount of monthly premium. You can visit PINC Insurance to get further details about the best insurance plans suitable to your needs.