The need to get diabetes insurance before it’s too late

The extremely long working hours, the lack of sleep, the lack of exercise, the unhealthy eating habits and the changed lifestyle have taken their toll on the health of the Indians. The World Health Organization had estimated that there are currently 70 million diabetics in India, with an increase of 45% to 50% by 2030.

We all get scared by diseases like tumors, cancer etc. But diabetes is definitely not a disease that can be ignored. The monthly cost for the drugs spent on diabetes is Rs.4,000 to Rs.9,000. But this cost does not include doctor consultations and diagnostic fees. Besides, with additional complications, your expenses can reach up to Rs.20, 000/- per month.

Health deteriorates as we age. Research shows that one in seven employees suffers from diabetes or hypertension. Diabetes is a long-term condition and therefore the average claim size is 90% higher compared to other diseases or conditions.

It is wise to take out health insurance at a young age. Reason would be as simple as saving on the premiums and preparing yourself for the worst before it’s too late. The rising incidents and claims would encourage you to stay financially revived and cover your illness if you purchase a plan at a young age.

There are various health insurance policies on the market. You have the choice to opt for a specific diabetes plan or a general or standard plan. You can choose a particular health plan depending on several factors such as your medical history, standard of living, and the area where you live with the total number of family members.

When you buy health insurance, make sure you make extra provisions to provide full protection for the family. For example, if your family member suffers from diabetes, you should purchase an individual policy rather than a family float plan. So that the coverage is not exhausted for other family members.

There is a significant increase in the incidence of diabetes in women and also in some young adults. It would be a wise decision to buy a policy that pays OPD claims. This would take care of your regular medical expenses.

Diabetes has become a silent killer. This damages the blood vessels, kidneys, eyes, heart and nerves, eventually leading to expensive treatments like bypass, amputation of any part of the body, retinopathy etc.

Treatment costs are also rising. Therefore, it becomes a necessity to opt for a healthy cover. Experts say it is better to get comprehensive health insurance that has features like no room rent limits, covers organ donor costs etc. It would be an added benefit to reinstate the policy in case of depletion of the insured amount.

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So, keeping in mind the increasingly common lifestyle diseases like diabetes, it is better to get diabetes insurance before it is too late.

Stay insured, stay safe!