If you regularly travel overseas for work or pleasure, or are a student, professional, or entrepreneur, you may seriously consider purchasing global health cover.
This insurance can help you if you get sick in another country. You may panic, thinking that you are in another country, and medical facilities and treatment will be very expensive. While you should have home health insurance in India, it won’t provide much coverage abroad. Also, your travel insurance may not be enough in some cases, as it has its limitations.
This is exactly where global health insurance can help you.
Bhaskar Nerurkar, head, group health management, Bajaj Allianz General Insurance says: “Global healthcare was designed keeping in mind the needs of people who want seamless care, which will take care of medical expenses not only in India, but also. in all areas of emergency and special treatment.”
This product caters to the following demographics:
1. A parent living in India who often visits his child based abroad.
2. A senior executive of a multinational company (MNC) residing in India and traveling overseas regularly on business.
3. High net worth individuals (HNIs) residing in India who travel abroad regularly for leisure or business or both.
Nerurkar adds: “Another unique feature of the product is that due to its seamless nature, even if the actual treatment or surgery takes place outside India, the post-op rehabilitation can continue within India or vice versa if the insured so chooses.”
Global Health Cover vs Travel Insurance
A travel insurance plan is generally designed for those traveling outside India for a short period of time. Contingencies that are often covered in travel insurance plans are flight cancellation, loss of personal belongings, and emergency medical treatment.
On the other hand, the international health insurance plan is designed to provide comprehensive coverage for treatment of patients outside India, as well as ongoing treatment of chronic conditions.
In addition, the purpose of travel insurance is to make the person healthy enough to return home. Travel insurance does not usually cover long-term treatment. Also, once a person returns to their home country, coverage under travel insurance ends.
Elsewhere, a universal health plan covers all 365 days, and coverage continues even after a person has returned to their home country.
Things to Remember When Choosing Universal Health Cover
Check whether the global health policy provides universally planned and selective treatment. This cover should be seamless, and provide ongoing treatment in the insured’s home country if they choose to do so.
One should check that the global health policy covers not only the hospitalization, but also the pre-hospitalization and post-hospitalization expenses.
Some global health plans in the market mandate that the diagnosis be made in India to take treatment abroad. It is recommended that a person seek a plan without such a condition and that the insured is allowed to receive treatment regardless of where the diagnosis is made.
Location coverage: Most global health plans in the market offer two types of locations that include the USA and exclude the USA. One can choose the right program that suits the required area. Plans that exclude the USA have lower premiums than those that include the USA.
Most importantly, check the reliability of the insurance company that can handle international claims and the ease of the process of registering a claim while hospitalized outside India.