A health insurance policy is important to ensure that any costs incurred due to a medical treatment do not burn a hole in your pocket. In recent years, there has been an increase in the number of people turning to healthier eating habits and exercise to keep diseases at bay. However, diseases and illnesses cannot be avoided completely. With the increasing cost of medical treatments, health insurance has become a necessary purchase.
Digitisation and globalisation have made Indians more mobile than ever before. Today, many Indians travel to foreign countries for work, education, and leisure. When you are abroad, the weather, food, and water are new to your system. Hence, there is an increased risk of falling ill. While you might have purchased a health insurance plan in India, is it valid overseas too? Let’s find out.
The Basic Health Insurance Policy
When you opt for a basic health insurance policy in India, you get coverage for hospitalisation costs, OPD, and daycare treatments. These costs are covered for treatments done at a hospital or clinic in India. Hence, with a basic health insurance policy, any healthcare costs incurred overseas are not covered.
With more and more people travelling abroad, health insurance companies have started offering plans that have global coverage. Hence, if your policy has global coverage, then it will be valid for medical costs incurred overseas.
Usually, insurance companies offer this facility as an add-on cover. This means that policyholders who travel internationally can purchase the add-on cover to include international medical costs in their health insurance policies. You can also opt for health insurance for families with global coverage.
It is important to remember that many personal accident insurance plans offer global coverage. Hence, if you have such a policy, then you are covered for any accidental injuries and even disability. So, having health insurance while travelling abroad is essential.
Validity of the Health Insurance Policy Abroad
As mentioned above, your health insurance policy will be valid abroad only if the provider offers global coverage or if you have purchased the add-on for international coverage. In the absence of either of these, the health insurance policy will not be valid abroad.
If you have purchased critical illness insurance, then it might be valid even when you are abroad. These policies pay a lump sum amount if the policyholder is diagnosed with the covered critical illness like cancer, stroke, etc. However, please ensure that you check with your insurance provider about the terms of reimbursement in critical illness.
What Should You Do If You Are Moving Abroad Permanently?
If you are moving abroad permanently or for a long time and your current health insurance policy does not cover medical expenses overseas, then it will be prudent to cancel your domestic policy and purchase health insurance abroad in the country that you are shifting to. In fact, even if your policy offers international coverage but if you intend to stay overseas for many years, then getting a policy in that country will be easier to manage.
In the current times, having a valid health insurance policy is essential due to the rising costs of medical treatments and exposure to various diseases. Moreover, over the last few decades, there has been a marked increase in the number of people contracting lifestyle-related diseases like diabetes, heart ailments, etc.
In such a landscape, the right health insurance policy can help safeguard your savings and ensure that medical bills don’t undo years of savings and investments. If you travel abroad frequently or are planning to stay overseas for a long duration, then make sure that your health insurance policy has global coverage.
If not, then talk to your insurer to get the add-on cover. If your insurer does not offer global coverage, then you might want to consider moving to another provider. Also, ensure you have family medical insurance plans so that your family is also protected.
Summing Up
A health insurance policy can have a geographical limit as decided by the insurer. Most plans only offer coverage for medical costs incurred within the country. However, there are some plans that offer global coverage too. Hence, before you travel abroad, make sure that you check your policy document or talk to your insurer about global health insurance coverage. If your insurer is not providing it, then you might want to look at other insurers and ensure that you are protected against medical costs while travelling abroad. Before you travel, purchase the best health insurance when travelling so that you are protected.