Diabetes Safe is an insurance policy launched by Star Health & Allied Insurance Co. Limited, which provides financial coverage for individuals suffering from Diabetes (Type I & II), including expenses related to hospitalization, personal accident, and outpatient expenses. The plan is divided into variants- A & B.
|Age Limit||18 years – 65 years|
|Sum Insured (Rs.)||3, 4, 5, and 10 Lakhs|
|Coverage||Self and Spouse, with at least either having Diabetes|
|Policy Term||1, 2, and 3 years|
|Premium Payment Term||Monthly, Quarterly, Half-yearly, Annually, Biennial, and Triennial|
**Last Updated on 14-01-2021
|Pre and post-hospitalisation||30 and 60 days|
|Day care procedures||Covered|
|Pre-acceptance medical screening||Only in Plan A|
|Ambulance cover||Up to Rs.2000/policy period|
|Free look period||15 days|
**Last Updated on 14-01-2021
Its importance can be explained with the help of an example. David was a 30-year old healthy working professional in the MNC industry, who had a happy, loving family. However, his sedentary lifestyle was always a cause of concern, and considering that his parents had diabetes, he decided to purchase the Diabetes Safe Policy to keep himself covered in case this disease catches up with him.
He decided to purchase it online, for a sum insured of Rs. 5 Lakhs. Considering his age, the premium for this sum insured would come to Rs. 12,479 (including taxes). He opted for Plan A, which doesn't have any waiting period and would make him eligible for claim as soon as he is diagnosed with Diabetes. He purchased the policy by making the online payment and the cover began the day the policy was issued.
Three months later, David visited his physician for hypoglycemia (low blood sugar), during which he was also diagnosed with Diabetes. Next month, he had to get admitted to the hospital due to a resurgence of hypoglycemia and underlying diabetes. Since he had the policy, all the expenses got covered under the same.
The Diabetes Safe policy covers the following:
The company offers two plans, A and B. While Plan A covers hospitalization expenses related to diabetes without any waiting period, while Plan B has a waiting period of 12 months.
If the insured needs to be transported to the hospital via ambulance, the plan will look after its expenses (up to Rs.2000/policy period).
If the insured requires artificial limbs due to amputation, the plan covers its expenses (up to 10% of SI).
Under both the plans, if the sum insured (for covering expenses due to accident and non-diabetes) is exhausted, then the 100% sum insured is restored.
The insured individual is eligible for a tax rebate on the premiums paid under Section 80D of the Income Tax Act, 1961, for amounts paid other than cash mode.
Many people prefer taking comprehensive health insurance. However, for a diabetic person, taking comprehensive health insurance will not help him with his diabetes issue, as Star Comprehensive Insurance doesn't cover Diabetes. Any hospitalization that happens due to Diabetes Mellitus and Insipidus is excluded from the cover. In fact, the expenses related to obesity/weight control complications due to Uncontrolled Type2 Diabetes are also not covered. However, if a person purchases a Diabetes Safe Insurance Policy, he will get all the benefits for his diabetes-related expenses.
Star Health has designed a user-friendly website that allows you to purchase an insurance policy without much fuss or hassles. The following steps will help you in navigating the website and purchasing an insurance policy.
You can also buy this plan from PolicyX.com. Call 1800-4200-269 or email at helpdesk[at]policyx[dot]com to get in touch with our experts.
If an event occurs that gives rise to a valid claim under the terms of the policy, then the following steps need to be taken:
1. If I take the Diabetes Safe Insurance Policy for a policy term of more than 1 year, will my unclaimed sum insured for one year be carried over to the second year?
No. In this policy, the basic sum insured is for each year, and it won't be carried over to the next policy year.
2. Can I change my Plan A to Plan B once I have taken the Diabetes Safe Insurance Policy?
No, once the policy comes into effect, the plan cannot be changed.
3. Do I need to undergo medical screening before purchasing the Diabetes Safe Insurance Policy?
If you are choosing Plan A, then you need to undergo a pre-acceptance medical screening, while you don't need it you select Plan B.
4. Can I revise the sum insured while my policy is in force?
The sum insured can be revised only during the policy renewal.
5. What is the free-look and grace period under this policy?
The company offers a free-look period of 15 days, during which the insured can cancel his policy and can get his paid premiums refunded, after deducting all the charges. Also, a grace period of 30 days from the date of expiry of the policy is allowed under the policy.
6. Can I migrate or port the Diabetes Safe Insurance Policy?
Yes, the policy can be migrated to another policy offered by Star Health by applying for migration 30 days before renewal of the policy. Similarly, the policy can be ported to other company's health insurance policies by applying at least 45 days before the renewal date of the policy.
Page updated on 14-01-2021