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Why Diabetic Patients Don't Get Health Insurance, but Get Term Insurance?

Tuesday, 04 June 2013, 01:37 IST
By SiliconIndia

Bangalore: Diabetics have been a major health issue with many people. Indians who are suffering from diabetes are able to get term insurance policy for up to Rs.1 crore with normal premium but at the same time are not able to get a health insurance policy.

It is estimated that more than 5 percent of Indians suffer from diabetes and the most disheartening aspect is that there is no proper and systematic solution provided for the vast number of people concerned.

Read on to know why diabetic patients in India get only term insurance but not health insurance policy, reported by Yahoo.

Well! Before knowing why diabetics won’t get health insurance policy, it’s very important to know the difference between term insurance and health insurance policy.

Term insurance policy provides the insurer with a fixed amount  coverage  that will insure for a limited period of time. It is also one of the simplest and the cheapest way to buy insurance. Whereas, health insurance is protects the insurer with medical expenses for which he/she will be paying premiums at a fixed rate. The amount of cover the insurance will provide depends on age, sex, amount of health issues etc.

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 insurer dies within the expiry of the term policy.

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