Health insurance guide for diabetic person
However, given the special needs and requirements that a diabetic person has, there are certain factors that must be kept in mind while opting for a health insurance plan. These factors are listed below:
- The scope of coverage offered: This is very essential as it determines the total sum assured and hence, the scope of coverage that the patient will have, when needed. The coverage must be sufficient to take care of the doctors bills, consultation, medications, extra-medical support and any complications that may arise due to diabetes.
- Waiting period: Generally, insurance providers treat diabetes as a pre-existing condition and this may have an impact on the coverage that they offer while offering their insurance policy. At the time of policy-purchase, the insurance provider treats diabetes as a condition that requires a certain waiting period before the benefits of the policy can be availed. This waiting period may range from 2 years to even 4 years and hence, for this particular period of time, any health-related issue or complication arising because of diabetes does not come under the coverage of the policy. The waiting period must therefore, be clarified at the time of policy purchase.
- Payable premiums: This is a very important parameter as it directly decides the amount of funds that the patient can invest against the coverage that she/he is seeking. As mentioned, many insurance providers treat diabetes as a pre-existing condition and thus, this has a direct impact on the payable premiums a well. Generally, the premiums may be higher for a diabetic person in comparison to what they are for a non-diabetic person. However, it must be kept in mind that these premiums match the coverage term and therefore, must not deter the patients decision to buy the health insurance plan.
- Mode of reimbursement: Many health insurance providers offer cashless reimbursement, once the waiting period is over. This benefit is offered to a pre-listed number of hospitals, known as network hospitals. While purchasing the policy, it must be checked whether such a benefit is being offered and if yes, what the range of hospitals being covered under it is.
HDFC Life offers many health insurance plans that seek to protect your finances in the event of any health-related contingency so that your savings corpus is left intact. For details, click on the mentioned link: https://www.hdfclife.com/health-insurance-plans
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