5 Reasons Why A Diabetic Person Needs A Term Insurance Plan

The number of diabetes cases in India and globally has been on the rise for a long time. Almost one in six individuals are diagnosed with diabetes in India. While the expenses related to the treatment can be a bit high, the health issues that may arise because of diabetes is also a huge problem. Therefore, if you’re a diabetes patient, you must take the appropriate steps for protecting yourself and your family from unfortunate events. While health insurance plans may help deal with the treatment expenses, choosing a term plan can help you ensure your loved ones will be protected in case of any eventualities.

A term insurance policy is designed to ensure your loved ones get financial coverage if something happens to you. The financial coverage will help your family maintain their financial stability and carry out their dreams and goals.

If you have managed to handle your diabetes by making appropriate lifestyle choices, buying term insurance won’t be a problem. However, there are certain reasons for purchasing the term plan that individuals with diabetes should know.

Reasons why a diabetic person must purchase a term insurance plan

1. Financial coverage:

While diabetes can be managed with diet and lifestyle changes, the probability of related illnesses is very high. Therefore, with term insurance for diabetic patients, you can ensure that the future of your loved ones is secure, and they will be able to maintain their financial stability when you’re not around anymore.

2. Critical illness rider:

One of the most beneficial add-ons for a diabetic patient can be the critical illness rider. While diabetes is not a critical illness in India, it can lead to different illnesses which may be considered a critical illness. Therefore, with a critical illness included in the term insurance policy, you can get suitable coverage if your diabetes evolves into a more harmful illness. For instance, policyholders can enhance their Tata AIA term insurance plan coverage with a critical illness add-on that covers almost 35 different conditions.

3. Cost-effective:

Among the different insurance plans available in the country, term insurance policies are the most affordable policies. When you purchase a term insurance policy from a decent insurance company, you can access extensive insurance coverage at an affordable premium cost. Therefore, you can protect your loved ones at an affordable price with a term insurance plan when you’re not around anymore.

4. Tax-benefits:

As per Section 80C of the Income Tax Act, 1961, you get tax benefits of up to ₹1.5 lakhs on the premiums paid for a particular year. Therefore, along with the insurance coverage, you get to avail of certain tax benefits through the insurance policy. Additionally, the death benefit paid out is completely tax-exempt under Section 10(10D) of the Act.

5. Extensive coverage:

The medical expenses can go quite high for a diabetic patient. Along with this, if the diabetic patient was the sole earner of the family, their unfortunate demise may be quite difficult for the family as they would have to deal with the financial burden. However, a term plan’s coverage will help your family in such situations. When compared with the other insurance plans in the country, the life insurance term plan offers one of the highest coverages in the country.

Tips for finding reasonable term insurance for diabetic patients:

1. Compare term plans:

Comparing different insurance plans online will help you purchase a suitable plan. In addition, exploring different options will assist you in making an informed decision.

2. Select affordable policies:

Opting for an affordable policy will help you get insurance coverage at a reasonable cost. Insurance companies have launched calculators on their websites to help customers calculate the term plan premium. With the calculator, you can find ways to lower the plan cost.

3. Age factor:

Age plays a crucial role in determining the premium cost. Therefore, if you’ve been diagnosed with diabetes, you must get the term insurance plan as soon as possible.

4. Maintain a healthy lifestyle:

If you maintain a healthy lifestyle, the insurance company will help you get the term insurance coverage at an affordable price.

5. Check ideal coverage online:

Looking through the online term plans for diabetics will help you compare and opt for the best possible coverage plan possible.


Thus, if you’re diagnosed with diabetes, you can prepare for the future of your loved ones with the term insurance plan. The term policy will help you protect your family’s financial future and help you enhance your plan’s coverage through add-ons.

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