Karnataka - Bangalore   

Insurance coverage for diabetics

Chitra V. Ramani

Bangalore: Getting insurance coverage for diabetes was quite unheard of until last year when ICICI Prudential Life Insurance introduced Diabetes Care, a health insurance product for diabetics. The five-year scheme covers those aged between 25 and 60 years and is available under three variants of Rs. 3 lakh, Rs. 5 lakh and Rs. 10 lakh, providing payment of the sum assured on diagnosis of any six critical illnesses. It is renewable after five years. ICICI Prudential officials said that it was launched to meet the "urgent need" for a solution that encourages diabetics to manage their condition better and offers financial cushion in case they suffer from any related critical illness.

K. Shashidhar, Development Officer, Oriental Insurance Co. Ltd., told The Hindu that mediclaim is a big business and all companies want their share.

Generally, insurance companies do not cover pre-existing diseases for the first four years.

"Insured persons must renew the policy continuously for four years. Then only pre-existing diseases will be covered," he said.

United India Insurance's Medi Guard Policy covers pre-existing diseases after the first three years. "After three years, any disease, whether it is declared pre-existing or not, will be covered," said a United India Insurance agent.

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