Page 36 - The Insurance Times May 2021

consolidate with their peers. A rapidly changing industry will may not be available to a patient during an acute phase of
require unprecedented deal-making skills. Poorly integrated it. These people can go for diabetic specific plans. However,
businesses fail to achieve expected synergies and are at least such plans may have at least a 25-30 per cent premium
in part responsible for the complex organizational and differential with the comprehensive plan. Besides, not many
technological structures in place that are currently holding options are available. Popular ones include Care Freedom
back many insurers' attempts to keep up with more nimble for Diabetes from Care Health Insurance, Diabetes Safe Plan
competitors. Integration success requires detailed planning from Star Health Insurance and Activ Health Enhance
ahead of the deal closing and swift action thereafter. (Diabetes) from Aditya Birla Capital. Star Health policy
comes in two variants of Plan A and Plan B. Under the Plan
This comparative table comprises statistics on the insurance A variant, the insured person needs to undergo a pre-
industry indicators as this sector is a key component of the acceptance medical screening, while no such thing is
economy by virtue of the amount of premiums it collects, required in Plan B. Diabetes Safe plan can be bought by any
the scale of its investment and the essential social and diabetic between 18 and 65 years.
economic role it plays on personal and business risk
coverage. This dataset includes insurance activity indicators Star Health policy covers other diseases as well such as
such as market share, density, penetration, life insurance prostate problem, gall stone, and cataract etc. However,
share, premiums per employee, retention ratio, ratio of the waiting period for the same could be longer than that
reinsurance accepted, market share of foreign companies for diabetes. In addition, insurance policies usually cover
and market share of branches/agencies. only type-2 diabetes. Star Health provides coverage for type-
1 diabetes as well. Care
Freedom for Diabetes
also offers coverage
without any pre-policy
medical check-ups.
Enrollment under the
plan is applicable to
individuals with multiple
morbidities, or health
complications such as
hypertension, lipid, and
obesity. Active Health
Enhance (Diabetes) also
covers type-2 diabetes
along with type-1, but
pre-policy medical check-
up is also required.
Health insurance for diabetics:
35-year-Old Male Sum Insured: 5 Lakh
When doctors write prescriptions for diabetic patients,
recommendation for health insurance becomes an City: Delhi
important element of it. However, for diabetic patients
Insurer Plan Name Waiting Premium
getting a health policy is not a simple affair, especially for
Period
those at an acute stage of it. Star Health and Allied
Insurance created Star Diabetes Safe health insurance policy Aditya Birla Activ Health 3 Years 33,724
around seven years ago. First time in India, patients who Capital Enhance (Diabetes)
were already on insulin had a diabetes policy without Star Health Diabetes Safe 1 Years 16,319
premium loading or flurry of questions, as happens Insurance Plan B
otherwise. Care Health Care freedom 2 Years 11,858
Insruance for Diabetes
While comprehensive policies also cover diabetes in India,
they come with a long waiting period (up to four years) and Source : Policybazaar.com

36 The Insurance Times, May 2021