Healthcare & Fiscal

Diabetes Insurance: 6 Things You Need to Know

diabetes insurance

Living with diabetes can be challenging, to say the least. Managing the symptoms on a regular basis and staying on top of your health can get exhausting. More than that, it has a substantial impact on your medical expenses and consequently, financial planning.

Without a diabetes insurance policy, it can be difficult to cope with the regular expenses. It’s no secret that managing a chronic disease like diabetes is a costly endeavor. Here’s a breakdown of the costs associated with diabetes treatment: 

  • Diabetes medications are extremely costly. Aside from medicines, a patient may need to purchase expensive instruments such as blood sugar monitoring and insulin injections.
  • A diabetic patient will have to pay a large sum of money as doctor’s fee, especially for specialists. 
  • Diabetic patients are frequently admitted to hospitals due to problems. This can result in hefty medical bills. 

Diabetes insurance is a financial product designed specifically to enable diabetic individuals manage their finances without compromising on the treatment. Let’s take a closer look at how it works!

What is Diabetes Insurance?

A diabetes insurance plan is a custom-made health insurance plan that covers the costs of diabetes-related treatment and hospitalization. It’s a comprehensive health-care plan that includes coverage for diabetes-related costs which can be for dialysis, daycare, hospitalization, medicines, etc. 

Diabetes is one of the most rapidly increasing chronic health conditions in India. According to a report, India has 6.51 crore diabetes cases and has the second highest number of diabetics in the world. This is expected to increase to 10.9 crore people by 2035.

Judging by the numbers, more people will need a financial plan that enables them to deal with the condition. But before purchasing any diabetes insurance plan, there are few things you must know. In case you have no idea what to look for, no need to worry! We have compiled a list of six things you need to know about Diabetes Insurance to make an informed decision:

1. Educate yourself about exclusion

Most diabetes insurance policies don’t cover a pre-existing disease. This means that unless the waiting period is over, the claim for that disease or illness cannot be made. However, each policy has different exclusions and inclusions, so understand them carefully when making a decision. 

Look for a diabetes insurance that covers Outpatient Department (O.P.D) visit bills, medicines, insulin shots, extra medical support, and other complications that might appear due to diabetes. 

2. Know your disease type 

There is an array of diabetes insurance plans available in the market. But not every plan covers medical expenses for every type of diabetes. Diabetes is categorized into two types which are as follows:

  1. Diabetes Type 1 
  2. Diabetes Type 2 

 It is recommended to know and understand your diabetes type before buying a diabetes insurance plan. 

3. Annual Health Checkup

Annual health check-ups are important for a diabetic patient. Though most insurance companies offer annual health check-ups, not every insurance company offers complete blood sugar, urine routine, blood groups, kidney function, and ECG check-ups in their diabetes insurance policy. 

So, make sure you know the extent of coverage of the diabetes insurance policy before buying it. Care Insurance is one of the trusted providers offering annual health check-ups, day care treatments, dialysis cover, among other benefits.

4. Cashless Treatment

Cashless treatment is one of the most important features to check before buying a diabetes insurance plan. Cashless treatment is extremely helpful during an emergency and can help you get admitted to any of the network hospitals provided by the insurer. 

5. The payable premiums 

Commonly, the payable premiums are higher for diabetes insurance plans as compared to regular health insurance. This is due to the reason that insurance companies consider it as a pre-existing illness. However, we recommend that you make sure that coverage offered matches the premiums.  

6. Tax Benefit

Choosing an ideal insurance plan is a first step in the right direction. Not only, does it make sure patients and their family get the premium medical care, it also provides tax benefits that can be availed on the premium paid for health insurance. 

Remember to choose a trusted insurance provider to stay financially secure against the health expenses!

CEO & Editor
I'm Ved Prakash, Founder & Editor @Newsblare Media, specialised in Business and Finance niches who writes content for reputed publication such as,, Motley Fool Singapore, etc. I'm the contributor of different... news sites that have widened my views on the current happenings in the world.

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