BAI launches India’s first term product designed exclusively for type 2 diabetics & pre-diabetics

Hyderabad/Pune, May 30 Bajaj Allianz Life, one of India’s leading private life insurers, on Monday announced the launching of an exclusive term plan Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c.
This is the first of its kind protection plan in the Indian life insurance industry designed especially for Type 2 diabetic & pre-diabetic individuals, the private insurance company said in arelease.
India is referred to as ‘diabetes capital of the world’ with the diabetic population in the country expected to hit an alarming mark of 69.9 million by 2025 and 80 million by 2030 .
A significant number of India’s population who are diagnosed with diabetes are currently under-insured.
The new policy offers life insurance coverage by factoring in the nuances of the health condition of those having diabetes.
For pre-diabetic or Type 2 diabetic individuals whose HbA1c is up to 8% (3) the comprehensive plan will enable them to provide financial security for their loved ones.
Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life, said, “With this first-of-its-kind term plan designed for diabetics, I’m happy that we will be able to help several Indians secure their family’s long-term financial plans by giving them the well-deserved peace of mind. We will also provide our diabetic customers an eco-system to manage and maintain their health. We understand that they do a lot to control their insulin levels, and as compatriots in their journey we will offer a 10 percent reduction in premium on their policy anniversary for meeting their health goals.”
Another unique feature of this policy is that it will incentivize individuals to keep a check on their HbA1c and keep improving it. This will ensure they can avail a unique 10 percent reduction on renewal premiums at policy anniversary.
Health Management Services will also be provided through webinars, medical consultations to support customers to manage their diabetes and general health.
It is a non-linked, non-participating, individual, pure risk premium life insurance plan.