Would A Diabetes Care Health Insurance Provide Cover Since the First Day?

1. Would A Diabetes Care Health Insurance Provide Cover Since The First Day Diabetes has evidently become much more common than it was a few years ago. Between the years 2016 and 2019, health insurance claims related to diabetes increased by 120%. This is evidently a result of our changing lifestyles. Another noticeable trend in the number of diabetes cases is a sharp rise among the individuals within the age group of 20 years to 30 years. Not many people insure themselves at a young age and hence it is quite a common occurrence that if they are diagnosed with diabetes, they might not have adequate cover. However, it is now possible to get diabetes cover health insurance from day 1 by paying a certain amount of money which is added to the premium. How does health insurance cover for diabetes work? In case if the policyholder isn’t already suffering from diabetes, but starts to do so while he/she is covered by an insurance plan, it would work like any usual insurance cover. The insured would be able to claim the sum for the necessary medical costs. However, in case if the person is already diagnosed with diabetes, not all insurance companies might cover it. In the past, insurance cover for pre- existing medical conditions was rarely found. However, this has now changed with the insurers covering for these as well. Reputable insurance companies like Vital providing cover for a wide range of pre-existing ailments, including diabetes. In case if you are already suffering from diabetes and you want to avail the cover from day 1 itself, you may pay an extra premium for it. Loading premium Loading premium is an amount of money charged by the insurer, in lieu of which the policyholder gets to avail the plan benefits for the pre existing ailment from the very first day. However, the loading premium can be quite high. This is because providing insurance cover for a diabetic patient from day 1 is a high risk for the insurer. There are also a few cheaper alternatives for the policyholders, such as: •Group insurance •Affordable payment plans •Waiting period LIFEFRONT COVER PRIVATE LIMITED Plot No. 9, Okhla Industrial Estate, Near Modi Flour Mill, New Delhi – 110020, Email: care@getvital.in Phone: 01141171787 https://getvital.in

2. Group insurance Those availing a group insurance cover, such as an employee health insurance plan can enjoy coverage from day 1. This also applies to additional members, such as the families of the employees. Therefore, it is recommended to go for a group health insurance option if possible. Usually, the employees of a company offering a medical insurance cover can include their family members under the cover by paying an additional premium. recommended to get this done, especially for the elderly members of the family as the benefits would be worth it. It is Affordable payment plans Certain insurers allow the policyholders to choose from a wide range of payment plans. This flexibility would prove useful to those who find it difficult to pay for a diabetic care health insurance with loading premium. Vital, for example allows the policyholders to pay in monthly instalments, in the form of EMIs. These, along with various added benefits make it much easier for the policyholders to pay up the medical costs. These include: •Discounts and special offers on medicines, health-checkups, etc. •0% EMI options for elective procedures •Dedicated care manager for each policyholder •Comprehensive yet affordable plans Waiting period If one cannot afford the loading premium at all, he/she can avail the plan benefits after undergoing a waiting period. However, this option isn’t viable for those seeking cover from day 1 as the waiting period can last up to a few years. As the saying goes, ‘prevention is better than cure’. It is best to get insured early so that you can avoid loading premium as well as the waiting period. However, if you do have to pay a loading premium, it is highly advisable to go for an insurance provider offering affordable and easy payment options. LIFEFRONT COVER PRIVATE LIMITED Plot No. 9, Okhla Industrial Estate, Near Modi Flour Mill, New Delhi – 110020, Email: care@getvital.in Phone: 01141171787 https://getvital.in