Health and life insurance for Indian diabetics is swiftly becoming an option.
India is one of the global diabetes hotspots, in competition with China for the greatest number of diabetic patients. There are an estimated 30-33 million diabetics in India at the moment, although the true number is hard to fathom. The World Health Organisation indicates that by 2010 there will be 40 million and by 2025 there will be 75 million.
Diabetes has spread rapidly throughout the country, as work pressure, poor eating habits and a sedentary lifestyle engulf traditional diet and ways of life. Many countries throughout the world, including the USA, implement laws that prevent life and health insurers denying policies to diabetics.
Traditionally in India, insurers try their best to decline claims resulting from diabetes. They may also increase premiums for health insurance, mortgage insurance and even motor insurance.
Private life insurance companies in India are beginning to offer critical illness for complications resulting from diabetes. Recently, the ICICI Prudential Life Insurance Company has offered a standalone health policy for diabetes patients, called Diabetes Care. The plans cover six critical illnesses resulting from diabetes, and despite premiums remaining high, the policy does offer discounts for successful blood glucose management.
The future of diabetic life insurance in India is looking more promising, however, with major governmental groups calling for better cover at cheaper prices.
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