Insurers may deny health cover to diabetics dependent on insulin

I am 40 years old and have a health plan from my employer. I have diabetes and am planning to take a separate health insurance for myself. Will the new health plan cover diabetes? —Asif Rehman Buying an independent health insurance, despite having a group insurance cover, is a good move. Consider a sum insured equal to your annual income. Opt for a plan with high no-claim bonus. You can accrue this bonus while you are still covered under your employer’s policy. Diabetes will be considered a pre-existing illness for your new plan. For…

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Health insurers can’t refuse to renew plan because you are a senior citizen

I am 62 and have retired from a public sector company. I have a family floater policy from my organisation for ₹2.5 lakh. At present, I am healthy. Do I need to top up my cover? If yes, then by how much? —Parol Ramani A sum assured of ₹2.5 lakh will be inadequate for most advanced surgeries, at prevailing medical prices. At current costs and your age, a ₹10 lakh cover is the minimum you should have. This should be enhanced based on your lifestyle and family medical history. Further, at 62, you…

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