Numbers don’t lie, and certain numbers can be scary. According to a study by the Indian Council of Medical Research–India Diabetes (ICMR-INDIAB), published in medical journal The Lancet in June 2023, 101 million Indians are diabetic and 136 million are pre-diabetic. The numbers, the study says, are much higher than earlier reported figures. The World Health Organization (WHO) estimates that 77 million Indians above 18 years are diabetic and nearly 25 million are pre-diabetic.
“India is consistently retaining its position as the global capital for diabetes. It is a lifestyle disease with long-term multisystemic complications which requires a holistic treatment. Managing and treating diabetes-related complications can be expensive, especially during hospitalisation and it can put a strain on one’s finances,” says Madhumathi Ramakrishnan, senior vice-president, Star Health and Allied Insurance.
Given the rising incidence of diabetes in India and the steep associated costs, buying a health insurance to cover hospitalisation is advisable, especially if you have a family history of diabetes. But which policy should you buy? Should you go for diabetes-specific plans or settle for a regular policy? We have tried to answer these questions by exploring diabetes-specific plans and comparing them with regular health insurance plans to help you decide.
What Makes Them Different?
Diabetic-specific plans are customised to provide specialised benefits and services that cater to the unique requirements of diabetics. Diabetes patients need regular blood glucose monitoring and medical prescriptions. They are also susceptible to high risk for diabetic neuropathy, vision loss, stroke, cardiovascular diseases, and other health ailments.
This story is from the October 2023 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 2023 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Tax Reforms: What's In Store?
The government is working on reforming the existing Income-tax Act, 1961. The impending reforms have raised many questions in the minds of taxpayers. Will the old regime and deductions be done away with? Will it really simplify your life? What's the need for these reforms? We try to answer these and other questions regarding tax reforms
5 Questions That Will Lead You To The Right Financial Planner
Choosing a financial planner is not as easy as it may seem. Besides the right credentials, you should also consider things like the kind of services you will be needing-tax advisory, estate planning-as well as the fee structure. Here are five questions that will help you choose the right planner
Health Insurance Sub-Limits
Sub-limits in health insurance are restrictions placed by the insurance company on the SP maximum amount they will pay for specific expenses that are part of the total hospital bill.
Delayed Gratification, Humility, Understanding Inflation And Risks Key To Financial Success
The journey to financial success is continuous, requiring patience, education, and disciplined decision-making.
Avoiding Common Pitfalls through Asset Allocation and Multi-Asset Investing
Just as you track the calories and nutrients for a well-balanced diet, you need a balanced portfolio that has multiple assets to balance the risks and returns.
Mutual Funds for Financial Growth
Mutual funds allow you to invest in small amounts and seize the compounding growth, and experts help tackle volatility and asset allocation, making them a potent tool to create wealth.
Multi-Asset Investing is The Financial Equivalent of A Well-Balanced Diet
Just as you track the calories and nutrients for a well-balanced diet, you need a balanced portfolio that has multiple assets to balance the risks and returns.
Theme and Triumph: How Thematic Funds Can Boost Your Bottom Line
Thematic funds target high-growth opportunities in various industries and economic sectors, allowing investors to participate in future-focused segments to generate long-term returns.
Wealth Creation Through SIP - The Slow & Steady Road to Success
For investors seeking to create long-term wealth, SIPS are a powerful tool that enables regular, disciplined investments to generate compounding returns.
Tuition Fee Varies Among Countries
I am 22 years old and have recently started working in a software company.
