The rising incidence of diabetes is a significant global concern. Lifestyle changes, such as unhealthy eating habits, poor dietary choices, insufficient physical activity, and irregular sleep patterns, are among the primary factors contributing to diabetes. The shift towards processed foods, sugary beverages, and unhealthy fats has further increased the risk of developing diabetes. Given that diabetes necessitates continuous medical treatment, investing in a best health insurance policy In India is a wise decision. Medical insurance plans can ease your financial burden by covering a range of medical expenses, including pre-hospitalisation, post-hospitalisation care, prescription medications, diagnostic tests, and more.
This article will help you understand diabetes and the need for medical insurance plans.
Table of Contents
Understanding Diabetes
Diabetes is a chronic medical condition in which the body is unable to produce enough insulin or respond effectively to that. Insulin is a hormone that is responsible for controlling glucose levels in your bloodstream. Diabetes is categorised into two types.
Let’s take a look.
Type 1 Diabetes
Type 1 diabetes can be diagnosed in the early years of life. It is caused by insufficient insulin production and necessitates daily insulin administration.
Type 2 Diabetes
Type 2 diabetes impacts the way your body processes sugar for energy. It interferes with the proper utilisation of insulin, potentially resulting in elevated blood sugar levels if left untreated. It is linked to lifestyle elements, including poor nutrition, insufficient exercise, and obesity.
According to the World Health Organisation (WHO), 14% of people aged 18 and above had diabetes in 2022, with more than 59% of adults older than 30 years not taking medication. Isn’t this shocking?
What is the Waiting Period in Health Insurance?
The waiting period is the time duration during which you are not allowed to raise any claims.
The waiting period is a standard feature in most health insurance plans and applies to both new applicants and those with pre-existing conditions. It prevents insurance companies from undue advantages, such as making claims for diseases that were not disclosed after purchasing the best health insurance policy.
If you have a pre-existing condition such as diabetes, the best health insurance company will impose a waiting period before offering the coverage. According to IRDAI, India’s Insurance Regulatory and Development Authority, the waiting period for diabetes is 36 months.
How to Explore the Waiting Period for Diabetes Coverage?
While you may see waiting periods as the biggest inconvenience when purchasing medical insurance plans, there are certain steps you can follow to explore your coverage options.
Plan Ahead
If you are diagnosed with diabetes, then you must start looking for insurance policies that suit your needs and requirements. Securing an insurance policy timely can enable you to complete the waiting period sooner.
Look for Waiver Options
The best health insurance company enables you to reduce your waiting period by opting for a waiting period waiver. You can purchase such a waiver by paying an extra premium amount. Since there are a variety of insurance options available in the market, you must compare the terms and conditions of different plans and verify if they offer such waivers.
Be Honest
When purchasing the insurance policies, you must disclose your true medical history to the insurer. Being upfront about your diabetes diagnosis will ensure that your coverage terms are clear and that you are aware of any waiting periods.
Choose a Specialised Plan
Insurance companies offer specialised plans for diabetes or other chronic conditions. These plans are designed specially to provide coverage for such chronic diseases; hence, choosing enables you to seek appropriate medical care.
Wrapping Up
The waiting period for diabetes in health insurance policies can vary significantly depending on several factors, including the insurer’s policy, age, health status, and the specific terms of your plan. While this waiting period can be frustrating, understanding how it works and planning accordingly can help you mitigate the impact and secure the coverage you need for managing diabetes effectively.
If you are looking for a reliable insurance provider and are confused about which one to choose, look no further than Niva Bupa. They offer a wide range of insurance policies with extensive coverage, round-the-clock assistance, an efficient claims process, and a large number of reputable network hospitals offering quality healthcare.