One of the most important things you can acquire for yourself and your loved ones is health insurance. It covers your medical expenditures and other associated costs, allowing you to focus on your treatment and recovery in the event of an emergency.
But what if you're relocating to another country? Will the medical insurance coverage you bought in India also cover you financially if you travel to another country? Let's have a look.
Health insurance policies' geographical restrictions
In India, the majority of health insurance policies only cover domestic travel. As a result, if you become ill or have an accident while visiting another nation, you will be responsible for paying medical bills, ambulance fees, and other related costs out of your own pocket. Because medical costs in a foreign country are typically higher, any medical emergency can quickly deplete your savings.
With this in mind, numerous medical insurance companies in India are now providing policyholders with worldwide coverage. However, it is dependent on the health plan you choose. Some insurance include built-in global coverage, while others do not. In such circumstances, you may be required to pay an additional premium and purchase global coverage as an add-on.
Is it possible to carry your health insurance coverage with you when you travel?
You can carry your foreign medical insurance coverage with you if you have one. The coverage will be valid in other countries as well, and it will assist you in covering your medical costs. However, you should check with your insurer and read the policy wordings to be sure.
In addition, many personal accident insurance plans in India include global coverage. The insurer will reimburse your hospital fees if you have an accident in a foreign nation. Accidental death and incapacity in a foreign place are also covered by insurance providers.
In the same way, most CRITICAL ILLNESS HEALTH PLANS are still valid in another nation. If you've purchased this plan for yourself and your family, check with your insurer to see if you'll be able to use the benefits even if you move abroad.
Should you cancel your old health insurance in India if you relocate?
If you have a typical or basic health plan, it will generally cover medical expenses in India. You must terminate the plan before moving overseas in this scenario. You can, however, keep your current health insurance if you are only travelling overseas for a few months.
After relocating to a new nation, you can get a new health insurance coverage to ensure that you are protected in the event of a medical emergency. Some countries have made health insurance a legal requirement for its citizens. As a result, taking one after you've gone there is a better choice.
Is it possible to obtain international medical insurance in India?
Yes, you can purchase international or global medical insurance in India and continue to be covered while travelling abroad. This health plan's premium, on the other hand, will be on the higher side. As a result, buying global health insurance in India only makes sense if you move frequently.
On the other hand, if you intend to stay in the new country for an extended period of time, you will need to enrol in a new health plan in the destination country. Aside from being more affordable, a local health insurance policy will ensure that your medical bills are covered quickly and without fuss.
Consider these points before purchasing overseas health insurance.
Here are some things to bear in mind if you're looking to get foreign medical insurance in India:
1. Medical costs in a foreign nation may exceed expectations. As a result, you must select an appropriate level of coverage.
2. Before enrolling in a health plan, make sure the country you'll be going to is covered. Almost all health insurance companies exclude treatment in the United States and Canada, however some charge a higher premium to cover these nations.
3. The majority of overseas health plans only covered specific conditions. You may need to choose a bigger sum assured and pay a higher premium if you want additional benefits.
4. The majority of health insurance claims for international health plans are paid only through reimbursement. This is due to the fact that some insurance companies are unable to maintain a global network of hospitals for the payment of cashless claims.
5. Travel insurance's medical coverage differs from that of a worldwide health insurance policy. An foreign health plan covers both emergencies and planned medical treatments, whereas travel insurance solely covers emergency medical bills.
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