Diabetes Insurance: Who Needs It & Key Considerations

Published By: CNBC TV 18​

Published Date: 12-11-2024

World Diabetes Day highlights the prevalence of the condition among Indians and the importance of careful disease management. The current estimated number of individuals who have Diabetes in India is over 100 million. Thus, disease management must go beyond medical care and specialised thoughtful planning for financial management.

Rakesh Jain, CEO of Reliance General Insurance, states that various aspects of a health insurance plan are crucial to consider while selecting the right diabetes insurance. He explains that coverage options are available to diabetic individuals after serving a waiting period of about 2-3 years.

He further stresses the importance of health insurance for those with a family history of diabetes or who are already suffering from it to gain coverage for complications arising from it. Furthermore, health insurance plans also offer specialised optional add-ons to enhance coverage and reduce waiting periods for early access to insurance benefits.

Living with diabetes can cause financial burdens due to medical check-ups and disease management, so plans that offer all-around financial security are ideal. Thus, it is important to choose the right insurance with broad coverage. One must look for telehealth options, medical check-ups, OPD cover, pre- and post-hospitalisation and low waiting periods.

Moreover, experts believe that diabetes must be dealt with collectively as a society rather than individually. In addition to securing the right treatments at the best places, creating a healthier environment in workplaces is a necessity. Diabetes insurance thus plays an important role in promoting a healthy lifestyle, as well as in early diagnosis and prevention. One must look for a policy that acts as a healthcare partner and not just cover treatment costs.