VIVEK COLLEGE OF COMMERCE

INSURANCE

MEANING OF INSURANCE
A contractual relationship when one party–an insurance company or und
erwriter, inconsideration of a fixed sum–a premium, agrees to pay on be
half another–an insured, or policyholder for covered losses, upto the limi
ts purchased, caused by designated contingencies listed in the policy. Se
e Adoption insurance, Cancer insurance,Catastrophic health insurance, C
o-insurance, Comprehensive major medical insurance, Disability
insurance, Group insurance, Hospitalization insurance, Indemnity
insurance, Major medical insurance, Medical expense insurance,Medicar
e supplement insurance, National health insurance, Nationalized health i
nsurance, Noncancellable insurance,Personal insurance, Reinsurance, Se
lf-insurance, Workers compensation insurance.

DIABITIES INSURANCE POLICY
1

VIVEK COLLEGE OF COMMERCE

Diabetes mellitus (DM), commonly referred to as diabetes, is a group
of metabolic diseases in which there are high sugar levels over a
prolonged period. Symptoms of high blood sugar include frequent
urination, increased thirst, and increased hunger. If left untreated,
diabetes can cause many complications. Acute complications
include diabetic ketoacidosis and nonketotic hyperosmolar
coma. Serious long-term complications include cardiovascular
disease, stroke, chronic kidney failure, foot ulcers, and damage to the
eyes.
Diabetes mellitus is a heterogeneous group of diseases characterized by
chronic elevation of glucose in the blood. It arises because the body is
unable to produce enough insulin for its own needs, either because of
impaired insulin secretion, impaired insulin action, or both. Diabetes
affects some 300 million people world-wide, and is on the increase.
Chronic exposure to high blood glucose is a leading cause of renal
failure, visual loss and a range of other types of tissue damage. Diabetes
also predisposes to arterial disease, not least because it is often
accompanied by hypertension, lipid disorders and obesity. Many cases of
diabetes and almost all of its unwanted long-term consequences are
potentially avoidable, but this will require intervention at a societal as
well as at a medical level. This section of Diapedia offers an
introduction to the history of diabetes, its clinical presentation, its
current classification and its global epidemiology. We also introduce
2

the data in this section form an important background when thinking about research and health policy. Diabetes is due to either the pancreas not producing enough insulin or the cells of the body not responding properly to the insulin produced. All these topics are considered in greater detail elsewhere in Diapedia. the rise in diabetes is expected to influence cardiovascular morbidity and mortality. In turn. rising to 435 million in 20 years. 6. Epidemiology is a tool that can be used to detect these changes and to form hypotheses about which factors may be causative or may need to be addressed to prevent or lessen the impact of diabetes. Therefore. and we hope you will explore them further.Although quantitatively less important. There are three main types of diabetes mellitus: 3 .VIVEK COLLEGE OF COMMERCE some of the psychological and societal aspects of diabetes. and offer an overview of current areas of research interest. Rising on the waves of increasing obesity and increasing age in developing countries. Diabetes is a global disease. type 2 diabetes mellitus is currently estimated to affect 285 million people. including the 'hot topics' that dominate the media. and has doubled its incidence in Europe over the past 20–25 years. type 1 diabetes is also on the increase in many populations.6% of people aged 20–79 years are believed to be affected.

Control of blood pressure and maintaining proper foot care are important for people with the disease. a condition in which cells fail to respond to insulin properly. Type 2 DM may be treated with medications 4 .  Type 2 DM begins with insulin resistance. This form was previously referred to as "non insulin-dependent diabetes mellitus" (NIDDM) or "adultonset diabetes". is the third main form and occurs when pregnant women without a previous history of diabetes develop high blood-sugar levels. Prevention and treatment involve a healthy diet. Type 1 DM must be managed with insulin injections. The primary cause is excessive body weight and not enough exercise. and avoiding use of tobacco.VIVEK COLLEGE OF COMMERCE  Type 1 DM results from the pancreas's failure to produce enough insulin. As the disease progresses a lack of insulin may also develop.  Gestational diabetes. The cause is unknown. physical exercise. This form was previously referred to as "insulin-dependent diabetes mellitus" (IDDM) or "juvenile diabetes". maintaining a normal body weight.

9 million deaths each year. From 2012 to 2014. The global economic cost of diabetes in 2014 was estimated to be $612 billion USD. Adequate and affordable health insurance is important for people with diabetes to help them access the supplies. In the United States. diabetes cost $245 billion in 2012. with type 2 DM making up about 90% of the cases.3% of the adult population. Gestational diabetes usually resolves after the birth of the baby. Insulin and some oral medications can cause low blood sugar. education and health care to manage their diabetes and prevent. This represents 8. Diabetes is primarily a self-managed disease. complications.5 to 4. In order to stay healthy. diabetes is estimated to have resulted in 1.VIVEK COLLEGE OF COMMERCE with or without insulin. The number of people with diabetes is expected to rise to 592 million by 2035. a person with diabetes needs supplies like test strips. with equal rates in both women and men. Diabetes at least doubles a person's risk of death. Weight loss surgery in those with obesity is sometimes an effective measure in those with type 2 DM. meters and insulin. medications. 5 . an estimated 387 million people have diabetes worldwide. or treat. As of 2014.

Many people with diabetes live long and healthful lives. This can help prevent or delay complications. Balancing the food you eat with exercise and medicine (if prescribed) will help you control your weight and can keep your blood glucose in the healthy range. however recent reforms improve access to coverage. and incalculable human misery. it is a chronic. of these people. is immune to the epidemic. CHALLENGES Diabetes is one of the major health and development challenges of the 21stcentury. but it can be managed. increasing but largely preventable NCD which is responsible for millions of deaths annually. no country. costly. 366 million were living with diabetes in 2011. obtaining health insurance could be difficult for people with diabetes. Diabetes is a huge and growing problem according to the IDF diabetes atlas. There is no cure for diabetes. incurable. rich or poor. debilitating complications.VIVEK COLLEGE OF COMMERCE In the past. as 6 .

Projections estimate that by 2030. Diabetes kills and disables Every seven seconds. 552 million people will have diabetes.VIVEK COLLEGE OF COMMERCE many as 183 million are unaware they have the disease. and it is among the top 10 causes of disability worldwide. blindness and visual impairment. ICICI PRUDENTIAL HEALTH INSURANCE PRODUCT Diabetes Care is a unique critical illness insurance policy for Type 2 diabetics and pre-diabetics. somewhere in the world someone dies from diabetes. Key Benefits of Diabetes Care 7 . Four million people die from diabetes every year. Diabetes Care not only provides financial support but also helps you manage your condition more effectively. stroke. lower limb amputations. tens of millions of people with diabetes suffer disabling and life-threatening complications such as heart disease.

3 Free check-ups and a consultation with a doctor every year  Reduced Premium on display of good control  Tie-ups with leading healthcare partners to help you Manage diabetes  Web support for better diabetes control  Tax benefit under Section 80D of the Income Tax Act The lump-sum amount is paid on diagnosis. Eligibility  Type 2 Diabetics or Pre-Diabetics (IFG/IGT) 8 .VIVEK COLLEGE OF COMMERCE  Lump-sum payment on diagnosis of any one of the six critical illnesses  Optional cover for eye & foot complications  Wellness program . We don't require any medical bills and you can use the benefit amount to meet cost of treatment and any other concomitant expenses. irrespective of your expenses.

IFG is a condition wherein.VIVEK COLLEGE OF COMMERCE o Impaired Fasting Glucose .^ o Impaired Glucose Tolerance .^  Age (Nearer Birthday): 25-60 Years Sum Assured  Base Sum Assured Options: Rs. Rs 5 Lakhs. Rs 10 Lakhs  Diabetes Enhanced Benefit Rider: 10% of Base Sum Assured  No Maturity/Death Benefit is payable  The Sum Assured will be paid as per the table below CI Benefit Amount Rider Benefit Amount First 6 months of the policy Return of premiums paid till date Return of rider premiums paid till date 6-12 months 50% of Sum Assured * 50% of Rider Sum Assured After 1 year 100% of Sum Assured * 100% of Rider Sum Assured Time of Diagnosis 9 .IGT is a condition wherein along with IFG. blood glucose values after 2 hours of meals are between 140 and 199 mg/dl. after overnight fasting the blood glucose values are between 110 and 125 mg/dl. 3 Lakhs.

As part of our .520 9.023 12. Half Yearly and Annual  Premiums payable for Sum Assured of 3 Lakhs for a male are given below: Age(Years ) Base Premium(Rs.294 Premium with maximum reduction after Year 1(Rs.906 Policy Term There is a fixed policy term of 5 Years As per Indian Council of Medical Research (ICMR) Guidelines The claim is payable only on survival for 28 days from the date of diagnosis of the critical illness The premiums shown are exclusive of service tax and education cess Wellness Program 10 Managing your diabetes is the key to staying healthy.319 17.)# 35 40 45 50 55 10.VIVEK COLLEGE OF COMMERCE Premiums  Premium payment frequency: Monthly.988 14.455 13.810 11.485 21.263 14.)# 8.

for which we have created a Diabetes Control Index. Therefore. This index uses key factors from your regular tests like HbA1c. This premium reduction will be made after periodic check-ups to confirm your good health.5% 11 .VIVEK COLLEGE OF COMMERCE Improving Health. Reducing Premiums We offer you an attractive incentive to keep in good health .a reduction in your premiums (as indicated in the table below). if you show good control. blood pressure. lipids and weight and is an overall indicator of your control. your Diabetes Control Index will go down and your premium will be reduced for the next year by 5% to 30% of your 1st year's base premium! Age at Entry (years) Premium Reduction Level 1 25-35 36-50 51-60 5% 10% 12.

If it rises beyond a scale.5% Higher Premium (over 1st year's Base Premium) What Diabetes Care covers/provides? 12 . as indicated below: Age at Entry (years) 25-35 36-50 51-60 10% 15% 17.VIVEK COLLEGE OF COMMERCE Premium Reduction Level 2 Premium Reduction Level 3 10% 15% 20% 15% 20% 30% If your results worsen or you miss any of the tests. you will be required to pay a higher premium for the following year. your Diabetes Control Index will go up.

Blood Pressure and Pulse rate check) every 4th & 8th month.e. i. Heart Attack. during the policy term. Please refer to critical illnesses covered for a detailed description.VIVEK COLLEGE OF COMMERCE Financial Cover  Lump-sum amount paid on 1st diagnosis of any of the 6 critical illnesses. Diagnosis & Testing  Regular free testing (HbA1c. End stage renal failure. a lump-sum amount (equivalent to 10% of the Base Sum Assured) is paid in the event of limb amputation due to diabetic complications or LASER treatment for diabetic retinopathy. Please refer to Diabetes Enhanced Benefit Rider for details.  If Diabetes Enhanced Benefit Rider is taken.  The payout is made only in case the critical illness occurs for the first time. Cancer. 13 . Major organ transplant (as a recipient) and Stroke. Coronary Artery Bypass Graft (CABG).

 Test results will be available on the Diabetes Care website.VIVEK COLLEGE OF COMMERCE  A comprehensive medical check-up will be provided every year.  One free consultation every year with an expert physician. What Diabetes Care does not cover/not provide? Financial Cover  If the policyholder does not survive beyond 28 days from the date of diagnosis of a critical illness. till the end of the first 4 policy years. the policyholder 14 .  Free home collection of blood samples for testing. Partnerships  Concessions on products offered by our partners. till the end of the first 4 policy years.

 After the lump-sum payout is made for the 1st critical illness.  Any additional consultations or tests conducted will not be covered or reimbursed under the plan.VIVEK COLLEGE OF COMMERCE will not be eligible to receive the critical illness payout. the policy stands terminated. Diagnosis & Testing  Tests from diagnostic centers or doctors who are not from our empanelled network will not be accepted/will not be paid for. 15 . Partnerships  There will be no reimbursement offered against drug purchases. insulin or insulin delivery mechanisms.

54 cm) Physical activity Family History of Diabetes Total Score Final 16 .VIVEK COLLEGE OF COMMERCE CALCULATION OF DIABETIES CARE POLICY FORMAT User Name* (* Required) Contact Number* Email Id* Gender Male Femal e City Age(Years ) Wa Waist ist in cms (1 inch = 2.

VIVEK COLLEGE OF COMMERCE Result Contact Me 17 .

 Also provide regular hospitalization cover for all other ailments/injuries.  Automatic restoration of entire Sum insured by 100%.  Cost of artificial limbs due to amputation up to specified limits. BENEFITS: Covering any complications of Diabetes from day one.  More than 400 day care procedures covered.VIVEK COLLEGE OF COMMERCE STAR HEAITH INSURANCE DIABITIES SAFE INSURANCE POLICY HIGHLIGHTS: Cover for complications of Diabetes both type 1 and type 2.  Pre Hospitalization expenses upto 30 days prior to the date of hospitalization.  Also covers regular hospitalization. 18 .  Policy can be taken on Individual and Floater basis.  No waiting period for Diabetes complication if undergone medical screening.

 Not Applicable for Plan B. Plan B Plan A (with medical examination) examination) Section 1 Section 2 Section 1 Covers Covers hospitaliz Cover ation for age (without medical complicati ons of Diabetes Waitin No Covers hospitalization for all other ailments hospitalizat ion for complicatio ns of Section 2 Covers hospitalization for all other ailments Diabetes 1) 30 days (except 1) 30 days 1) 30 days (except 19 .per hospitalization whichever is less Pre-medical examination:  Applicable for Plan A.VIVEK COLLEGE OF COMMERCE  Post Hospitalization expenses upto 60 days after discharge from the hospital not exceeding 7% of the hospitalization expenses or Rs 5000/.

20 . commence ment. Cardiovasc ular 3) 48 months for system. Diseases of for accidents). Special Features:  Automatic Restoration of Basic Sum Insured by 100%.VIVEK COLLEGE OF COMMERCE from the date of for accidents). 2) 24 months for specified illness/diseases/tre atment. 2) 24 months for specified g waiting Period period 2) 15 illness/diseases/tre months atment. all pre-existing Renal diseases except system. eye and foot ulcer. 3) 48 months for all pre-existing diseases except Diabetes Mellitus. Diabetes Mellitus. o  Note : This benefit is not available for Floater Policy Cost of artificial limbs due to amputation up-to 10% of Sum Insured if a claim for such amputation is admissible under the policy.  More than 400 day care procedures.

21 . Cost of screening is currently borne by the company. Tax Benefits Amount paid by any mode other than by cash for this insurance is eligible for relief under Section 80D of the Income Tax Act. GENERAL TERMS:Pre.VIVEK COLLEGE OF COMMERCE ELIGIBILITY:Any person between 18years and 65 years of age who is already living with Diabetes Mellitus can take this insurance.Acceptance Medical Screening Persons above 50 years will be required to undergo pre-acceptance medical screening at the Company nominated centres.

terms and conditions are subject to change with prior approval from IRDA. Free look cancellation is not applicable at the time of renewal. In case insured is not satisfied he can seek cancellation of the policy and in such event the Company will allow refund of premium after adjusting the cost of pre- acceptance of medical screening.VIVEK COLLEGE OF COMMERCE Free Look Period A free look period of 15 days from the date of receipt of the policy is available for reviewing the policy terms and conditions. Guaranteed Lifetime Renewals Life-long renewals beyond 65 years are offered under this policy. stamp duty charges and proportionate risk premium for the period concerned provided no claim has been made until such a cancellation. NOTE: Renewal premium. STAR ADVANTAGE: No Third Party Administrator – direct in-house claims settlement  Faster and hassle-free claim settlement  Cashless hospitalization 22 .

23 .VIVEK COLLEGE OF COMMERCE  Network of more than 6000+ hospitals across India  Facility for maintaining personal health record in electronic format.

18-30 12070 15090 17355 22565 14565 18210 20945 27230 31-35 12985 16235 18675 24280 16160 20200 23230 30200 36-40 14200 17750 20415 26540 18840 23550 27085 35215 41-45 16810 21015 24170 31425 22555 28195 32425 42155 46-50 22230 27790 31960 41550 27005 33760 38825 50475 51-55 27985 34985 40235 52310 34355 42945 49390 64210 24 . 10195 15465 12745 14660 19060 Premium Rating EXCLUDING SERVICE TAX Floater (2A) PLAN A Sum Insured Rs. PLAN B 300000 400000 500000 Age in years 1000000 300000 400000 500000 1000000 Premium Rs.VIVEK COLLEGE OF COMMERCE PREMIUM CHART:DIABETES SAFE INSURANCE POLICY Premium Rating Sum Insured Rs. EXCLUDING SERVICE TAX Individual PLAN A Age in years PLAN B 300000 400000 500000 1000000 300000 400000 500000 1000000 18-30 8270 10340 11895 31-35 8910 11140 12815 16660 11315 14145 16270 21155 36-40 9765 12210 14045 18260 13190 16490 18965 24655 41-45 11590 14490 16665 21665 15790 19740 22705 29520 46-50 15385 19235 22125 28765 18905 23635 27185 35345 51-55 19415 24270 27915 36290 24050 30065 34575 44950 56-60 24155 30195 34725 45145 30250 37815 43490 56540 61-65 31365 39210 45095 58625 42345 52935 60880 79145 66-70 41960 52450 60320 78420 55955 69945 80440 104575 71-75 53935 67420 77535 100800 68055 85070 97835 127190 76-80 67375 84220 96855 125915 87715 109645 126095 163925 Above 80 82335 102920 118360 153870 105860 132325 152175 197830 Premium Rs.

PLAN B 300000 400000 500000 Age in years 1000000 300000 400000 500000 1000000 Premium Rs. 18-30 13820 17278 19871 25837 16677 20850 23982 31178 31-35 14868 18589 21383 27801 18503 23129 26598 34579 36-40 16259 20324 23375 30388 21572 26965 31012 40321 41-45 19247 24062 27675 35982 25825 32283 37127 48267 46-50 25453 31820 36594 47575 30921 38655 44455 57794 51-55 32043 40058 46069 59895 39336 49172 56552 73520 56-60 39800 49750 57216 74385 49475 61847 71127 92470 61-65 51588 64486 74162 96415 69267 86585 99575 129448 25 .5% Floater (2A) PLAN A Sum Insured Rs. Age in years INCLUDING SERVICE TAX @ 14.VIVEK COLLEGE OF COMMERCE 56-60 34760 43450 49970 64965 43210 54015 62120 80760 61-65 45055 56320 64770 84205 60495 75620 86965 113055 66-70 60195 75245 86535 112500 79935 99920 114910 149385 71-75 77300 96625 111120 144460 97220 121525 139755 181685 76-80 96505 120635 138735 180360 125305 156635 180135 234180 Above 80 117875 147345 169450 220285 151230 189040 217400 282620 Premium Rating Sum Insured Rs.5% Individual PLAN A PLAN B 300000 400000 500000 1000000 300000 400000 500000 1000000 18-30 9469 11839 13620 17707 11673 14593 16786 21824 31-35 10202 12755 14673 19076 12956 16196 18629 24222 36-40 11181 13980 16082 20908 15103 18881 21715 28230 41-45 13271 16591 19081 24806 18080 22602 25997 33800 46-50 17616 22024 25333 32936 21646 27062 31127 40470 51-55 22230 27789 31963 41552 27537 34424 39588 51468 56-60 27657 34573 39760 51691 34636 43298 49796 64738 61-65 35913 44895 51634 67126 48485 60611 69708 90621 66-70 48044 60055 69066 89791 64068 80087 92104 119738 71-75 61756 77196 88778 115416 77923 97405 112021 145633 76-80 77144 96432 110899 144173 100434 125544 144379 187694 Above 80 94274 117843 135522 176181 121210 151512 174240 226515 Premium Rs. Premium Rating INCLUDING SERVICE TAX @ 14.

VIVEK COLLEGE OF COMMERCE 66-70 68923 86156 99083 128813 91526 114408 131572 171046 71-75 88509 110636 127232 165407 111317 139146 160019 208029 76-80 110498 138127 158852 206512 143474 179347 206255 268136 Above 80 134967 168710 194020 252226 173158 216451 248923 323600 26 .