Introduction to Global Health Insurance Cover

Friday, April 15 2023
Source/Contribution by : NJ Publications

The world has become a smaller place. Today, be it education, career, business or leisure /holidays, the national boundaries have blurred for us. All these are no longer big news to us. But the time is ripe to add one more motive to this list - medical treatments. When we are planning the best for us when it comes to the said things, why not add medical care and intervention to this list? Treatment in foreign countries offering the most advanced health care treatments is no longer limited to just the super-rich and the celebrities. It is also time for you to think of it as an option available to you. 

Insuring medical emergencies in foreign locations is a must for many who are spending considerable time or frequently travelling abroad. But even for people who have never travelled abroad, access to quality and advanced medical treatments is one good reason for exploring such health products. Today, while you may have sufficient coverage under health insurance policies, what if medical treatment or surgery is recommended outside India? Your normal health insurance policy will not cover such a scenario. When your intent is the get the best for yourself and your family, why restrict yourself to treatments only in India? 

Meet global health insurance cover - your window to global /international medical treatments and health care.  Global health insurance sets you up with the best way to take care of yourself and your family in case you seek treatment for an illness or emergency outside India.

What is Global Health Insurance?

Global health insurance plans are designed to cover your hospitalization costs, whether planned or unplanned, seamlessly anywhere across the globe. Coverage usually includes in-patient and out-patient treatment expenses, air ambulance, and emergency treatments subject to the policy’s terms and conditions. The main advantage of having this policy is getting medical attention whenever and wherever required, be it in the country you reside in or any foreign land.

A global health insurance policy is not the same as a travel insurance policy. A global health cover is designed for those who need to have the option of treatments abroad, whether planned or unplanned. In case you are in India and planning treatment /hospitalization outside India, the same needs to be certified by a verified medical practitioner and you need to intimate the insurance company before travelling abroad for treatment.

Global Health Insurance Cover Benefits:

  • Access to advanced healthcare facilities: When it comes to healthcare, many international destinations provide highly advanced treatment facilities. These facilities enable the insured to receive the best treatment possible for even the most critical illnesses. It even allows the insured to choose the hospital or doctor of his choice for faster, more comprehensive, and better international healthcare. Many policies even cover consultations with foreign doctors.
  • Coverage for emergencies: With global health coverage, you get financial security in the event of a health emergency as well. If you face a medical emergency in outside India with no financial/personal support, it can be scary. However, with global coverage, you can receive treatment without worrying about financial implications. 
  • Day-to-day medical expenses: Global health insurance coverage can also aid with day-to-day medical expenses that you and your family may encounter outside India.
  • Tax benefits: Under Section 80D of the income tax act, the insured can claim a deduction of up to Rs. 25,000 if the policyholder's age is below 60 years.

Things to keep in mind: 

Buying any insurance policy requires you to have proper due diligence. With global health cover too, you should have a proper understanding of what you are getting. Here are a few things to keep in mind.

  • The scope of the countries covered under the policy. 
  • Policy terms & conditions related to pre-hospitalisation, post-hospitalisation costs, OPD treatments, copayment clauses, coverages & exclusions, waiting periods for pre-existing diseases, etc. These may vary from insurer to insurer.
  • For international coverage, most plans have a specified sum insured and certain illnesses listed. You must choose an adequate coverage amount, given the high cost of treatment abroad. Usually, a cover of at least Rs.3 crores should be considered.
  • Take note of the hospital network that the insurance company has. Usually, insurance companies have tie-ups with internal platforms with hospital chains and networks offering cashless facilities.
  • Check the credibility of the insurance company for handling international claims and the claim registration process. 

To conclude:

The healthcare you aspire for is today closely linked to your financial status and lifestyle. The benefits offered by global health policies are quite exhaustive. Such a policy offers you great peace of mind and access to quality healthcare at a global level, whether you are a business person, an employee, an avid traveller or a normal individual who has never stepped outside India. Get in touch with your insurance expert to know more and find the right product for yourself. Who knows? This can lead to something no less than a blessing.

At, Aarya Investments our mission is to provide our clients with the best solutions in wealth creation and wealth management. We are driven to provide clients with simple, unbiased and uncluttered professional advice that adds value to their quality of life and results in actionable solutions.

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