Frequent foreign travellers or those who are planning to undergo certain medical procedures abroad should opt for a health insurance policy in India that provides international coverage including for destinations like the US and Canada. These policies, offered by a few insurers, differ from regular travel insurance which includes medical coverage but may have limitations.
Health insurance policies with international coverage offer emergency treatments, in- and outpatient treatment, prescription medications, air ambulance and some elective treatments abroad, apart from domestic hospitalisation. A policyholder can select a sum insured of up to `6 crore and access cashless medical treatment worldwide.
Insurers set the maximum limit of international cover in the policy and also the number of times claims can be raised in a policy year. Additionally, some plans may also cover expenses associated with obtaining a medical visa and provide round-trip economy class airfare for an immediate family member accompanying the insured individual.
Rakesh Goyal, director, Probus Insurance Broker, says international health insurance provides more comprehensive and extended coverage for medical needs, making it suitable for those who frequently travel overseas. “For frequent travellers abroad, it is advisable to consider international health insurance policies that specifically cover medical treatment abroad,” he said.
Similarly, Siddharth Singhal, business head, Health Insurance, Policybazaar.com, says opting for worldwide coverage or global health insurance provides comprehensive medical coverage in case of emergency treatment or against planned hospitalisation for serious conditions like cancer, heart surgery or kidney transplant, etc. “Many global health insurance plans also offer the benefit of emergency air ambulance and covering the expenses of the accompanying person.”
What to consider
Before purchasing a global health insurance plan in India, individuals must keep in mind several factors such as pre-existing diseases and the waiting period. Also, the policies have certain prerequisites for seeking treatment abroad. When considering a specific health insurance policy for international medical treatment, individuals should evaluate factors like coverage limits, in-network hospitals, and coverage for pre-existing conditions.
For certain planned procedures abroad, insurers will insist that the first diagnosis of critical illness be done in India. Also, some insurers put restrictions on treatment in certain countries. Individuals have the option to choose a worldwide cover excluding the US and Canada which will then have lower premiums. In certain policies, the insured will have to take a mandatory approval for palliative treatments.
As the conditions vary from insurer to insurer, look at all the details before opting for such a cover and understand what is excluded from coverage. For instance, some global health insurance will cover only critical illness while others may cover any kind of illness that may happen when abroad.
As premiums of the policy can vary significantly across insurers, it is essential to compare quotes and choose a policy that aligns with the individual’s travel patterns and health needs. Premiums may be affected by factors like age, medical history, and the extent of coverage. Some insurers increase the international coverage sum insured to cover all international travel needs, especially for countries such as the US and Canada.
Amount of cover
Overseas medical expenses primarily involve in-patient hospitalisation and daycare procedures. Make sure you opt for a plan that covers both planned treatment and emergency treatment up to the limit of the sum insured to ensure comprehensive coverage.
“Opting for a lower sum insured could lead to higher out-of-pocket costs, while an excessively high sum insured might result in steep premiums. It is advisable to choose a sum insured of at least `1 crore or more,” says Singhal and adds that a policyholder must look for health plans that offer cashless treatment abroad rather than a reimbursement policy.
Claims settlement
To ensure a smooth claim settlement on a health insurance policy taken in India for medical treatment abroad, the insured should follow certain steps. Keep detailed records of medical expenses and obtain all necessary documents, such as medical reports, bills, and receipts. Notify your insurance provider as soon as possible and submit a claim form along with the required documents. “Adhering to the insurer’s claim process and maintaining open communication will help expedite the claim settlement process. It is also wise to understand any deductibles and co-payments that may apply to your policy,” says Goyal.