People who frequently travel abroad or who plan to undergo certain medical procedures abroad should choose an Indian health insurance policy that offers international coverage, including destinations such as the US and Canada. These policies, offered by some insurance companies, are different from regular travel insurance, which includes medical coverage, but may have limitations.
Health insurance
Insurance companies set international coverage limits in insurance contracts and also set the number of claims that can be made within a policy year. Additionally, some plans may even cover the cost of obtaining a medical visa and offer round-trip economy travel.
Rakesh Goyal, director at Probus Insurance Brokers, says international medical insurance offers more comprehensive and expanded coverage for medical needs and is suitable for people who travel frequently.
Similarly, Siddharth Singhal, Head of Health Insurance Business, Policybazaar.com, says you should choose global insurance or global health insurance.
Things to consider
Before joining a global health insurance plan in India
For certain procedures planned abroad, insurance companies insist that the initial diagnosis of the critical illness be made in India. Also, some insurance companies have restrictions on treatment in certain countries. Individuals have the option of choosing worldwide coverage, excluding the United States and Canada, which results in lower premiums. Certain insurance policies require the insured to receive mandatory approval for palliative treatment.
Conditions vary by insurance company, so be sure to check all the details and understand what is excluded from your coverage before choosing such coverage. For example, some global health insurance policies only cover critical illnesses, while others cover all types of illnesses that may occur abroad.
Premiums can vary widely between insurance companies, so it’s important to compare quotes and choose a policy that fits your personal travel patterns and health needs. Insurance premiums can be affected by factors such as age, medical history, and coverage. Some insurance companies are increasing their international coverage to cover all your international travel needs, especially to countries like the United States and Canada.
Cover amount
Medical expenses abroad mainly include hospitalization and childcare costs. To ensure comprehensive coverage, be sure to choose a plan that covers both planned and emergency treatment up to the maximum amount insured.
“Setting a low amount insured can result in high out-of-pocket costs, while setting an amount insured too high can result in high premiums. It is prudent,” Singhal said, adding that policyholders should look for medical insurance policies that offer cashless treatment abroad rather than reimbursement insurance.
Claim for damages
For smooth resolution of health insurance claims taken in India for treatment abroad, the insured must follow certain steps. Keep detailed records of your medical expenses and obtain all necessary documentation such as medical reports, invoices, and receipts. Notify your insurance company as soon as possible and submit a claim form along with the necessary documentation. “Following your insurance company’s claims process and maintaining open communication can help speed up the claim resolution process. You can also speed up the claim resolution process by following your insurance company’s claims process and maintaining open communication. It’s also wise to understand the amounts and out-of-pocket costs,” says Goyal.
