All about Health Insurance
These days diabetes is a major problem for many people. The people who are suffering from diabetes are likely to get an insurance policy up to Rs 1 crore, but they are not likely to get a health Insurance Policy.
According to the survey conducted it is found that 5% of the total Indian’s suffer from diabetes, and the worst thing is that we are not able to provide any systematic concern to the patients.
Why the diabetic patient in India don’t get health insurance despite they can get the Term Insurance, according to yahoo.
First of all, understand the difference between the term Insurance and health insurance.
The insurance which is for a limited period and we have to pay the fixed amount of coverage after that period that is known as Term Insurance.
Whereas in Health Insurance will cover all the medical expenses of the person, and for that, he will be paying the fixed amount of premium, and when the person wants money for the medical expense the company give it to the person whatever may be the expense.
The term insurance policy usually covers the insurer till the age of 70 and most importantly the insurance company will pay a lump sum amount to the family if the insured dies within the expiry of the term policy.
With the advancement in technology, there is a rapid lowering in the death rate. Therefore, the companies that provide the term insurance are benefited as the patient will have to pay more medical expenses.
With advance technology of medical science, the insurance company does not provide insurance to diabetic patent because at last if that patient get hospitalized the company has to pay a large sum of money.
As the policy is made yearly and has to be renewed after a fixed period of time. So the insurance of the person will be for a long time, and the treatment is also very expensive, so the insurance companies are affected.
This is the major reason why the companies provide cover for diabetic patient. There should be some alternative for such patients as they need a systematic solution.
With the increase in diabetic patients in India, people have hope that the insurance company will come with a special policy meant for them.
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