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Thyroid disorder is a silent disease that is becoming a massive health problem in India. This disorder arises when there is an unwanted increase or decrease in the number of hormones released by the thyroid gland in the body.

These hormones control the body temperature, metabolism, menstrual cycle, the functioning of the heart, lungs, and other vital organs, due to which the disorder can have a big impact on the general well-being of an individual. 

An estimated 42 million people (majority women) in India suffer from some form of thyroid disorder. People with thyroid disorders who exhibit even the smallest of symptoms may need a physician’s consultation. The diagnosis and the treatment of thyroid can come at a great cost, and hence it is necessary to purchase a customized insurance policy for thyroid treatment so that the quality of treatment is not compromised. 

Importance of Health Insurance for Thyroid Patients

Most of the health insurance plans in India provide cover for thyroid treatments. However, it is important for you to go through the details of the insurance policy in order to ascertain that all aspects of the thyroid treatments are taken care of. Why do we say so? 

The treatment for thyroid may involve the following aspects:

  • oral ingestion of levothyroxine.
  • screening tests to monitor TSH hormone levels.
  • systematic blood tests to monitor thyroid levels. 

Health Insurance for Thyroid

Treatments for some of these aspects may be costly, and in the majority of the cases, these treatments and medications will need to be continued lifelong to keep the thyroid levels in check. The cumulative yearly expenditures will get high and hence a specific insurance policy will be advantageous.

Health Insurance plans for thyroid patients in India 

The table mentioned below lists some of the best health insurance policies that you can avail if you are suffering from thyroid-related disorders:

PLAN NAME

BENEFITS

AGE LIMITS

HOSPITAL NETWORK

MAXIMUM SUM INSURED

Religare Care Health Insurance Plan - Comprehensive

Annual health check-up, Robotic Surgery, Emergency Ambulance

Minimum - 5 years

Maximum – No upper age limit

7,800+

75 lacs

Max Bupa Health Companion

All Daycare treatments, No room rent cap, Health checkup

Minimum -91 days

Maximum – No upper age limit

4,500+

1 Crore

Activ Assure Diamond Plan

150% reload of sum insured, International/domestic emergency assistance services

Minimum -5 years

Maximum – No upper age limit

6,000+

2 Crores

Premium calculation

The premium for any health insurance policy, including a thyroid-specific policy is dependent on various factors. Each insurance company takes into consideration various factors while calculating the premium, and these calculations are approved by the IRDAI. 

Some basic factors that are taken into consideration while calculating the premium are as follows: 

Age: Age is an important factor in any type of health insurance as you may need more medical care while you are older than you would have when being younger. Due to this, the premiums are higher for an older person and would be lesser for a young individual. 

Type of Coverage: The cost of your premium will also be based on whether you have purchased a general policy or a comprehensive one. For e.g., if you are purchasing a health insurance policy and want to add some specific riders or add-ons related to thyroid treatments and check-ups, you may be charged a higher premium. 

Amount of coverage: The higher your coverage, the higher would be the premium and vice versa. 

Medical History: Insurance companies would want to know your and your family’s medical history as there are chances of an individual getting impacted by illness if it has been running in the family. This medical history will have an impact on the insurance premium, and hence health insurance companies have a mandated medical examination before issuing the policy. 

If you are purchasing a policy for thyroid cancer, the insurance company may look into the following factors while calculating your premium:

  • Type of cancer
  • Pathology
  • Type of treatment performed
  • Remissions or recurrence 

Some other factors have may have an impact on the insurance premium calculation are: 

  • Marketing expenses by the insurance company
  • Policy underwriting
  • Mortality rate
  • Investments (in case of ULIPS)

Inclusions and Exclusions 

Whenever you purchase a health insurance policy for a thyroid disorder, it is important to check all the inclusions, and the exclusions so as to make sure that any treatment or test is not excluded from the policy. This is important even when you purchase a comprehensive policy. What are some common inclusions and exclusions? 

Inclusions 

  1. In-patient hospitalization and all included expenses
  2. Pre and Post hospitalization expenses
  3. Ambulance costs
  4. Daycare treatments
  5. Free health check-ups
  6. Other treatments included in your specific policy 

Exclusions

  1. Pre-existing illnesses
  2. Illnesses that occurs during the waiting period of the policy
  3. Self-inflicted injury
  4. Cosmetic and dental treatments
  5. Injuries sustained when engaged in risky sports
  6. Injuries related to the war, riots, nuclear risks, etc.

How to Buy an Insurance Policy for Thyroid?

Buying an insurance policy should be simple, hassle-free, and quick. While we all need health insurance, we also need to take care that the insurance policy not only suits our health needs but also suits our budget. PolicyX.com, an IRDAI approved insurance web portal is designed to help you do just that. It is the best platform to search, compare, buy and renew insurance policy at your fingertips.

If you need to buy an insurance policy for thyroid, the following steps will help you in this regard: 

  1. Click on ‘Buy Now’ at the bottom of this page. 
  2. You will get a list of all the different insurance plans and insurance companies.
  3. Select the insurance plan that suits your needs, and click on ‘Buy this plan’, and proceed with the instructions given.
  4. You will be then taken to the insurance company’s portal, where you can make the payment using the available payment options. Once the payment is verified, the soft copy of your policy document will be mailed to you in a few days.

Frequently Asked Questions (FAQ’s)

  1. What documents do I need to submit to purchase a thyroid-specific policy?

Ans. The following documents need to be submitted:

  1. Age proof
  2. Identity Proof
  3. Residence proof
  4. Passport-size photographs
  5. Any other health-related documents requested by the insurance company
  1. I had purchased a health insurance policy for my thyroid problem six months back. Now I want to increase my sum insured. How and when can I do it?

Ans. You can increase your sum insured at the time of renewing your policy. You can do it online by registering on the customer portal of your insurance company, or you can contact your company directly.

  1. I was recently hospitalized for my thyroid treatment, which got taken care of by my health insurance company. I may again need treatment after 2 months; so I wanted to know how many claims I can submit during my policy year since my problem seems to be recurring?

Ans. You can submit any number of claims, but you need to make sure that your claim amounts do not exceed your insurance sum insured amount.

  1. I had taken a health insurance policy six months back, however, my company has also started offering a health insurance policy to all its employees, and it covers my thyroid issue too. Can I cancel my personal health insurance policy, and will I get my premium back?

Ans. Yes, you can cancel your health insurance policy anytime. The insurance company will refund your premiums according to their cancellation terms and conditions, provided you have not made any claim during this period.

Naval Goel is the founder of PolicyX.com. He is an Associate Member of the Indian Institute of Insurance`, Pune. He has been authorized by IRDA to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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