Global Health Insurance Policies vs. Regular Health Insurance

Irrespective of your age and health condition, procuring health coverage is important. These insurance plans offer comprehensive coverage for a variety of ailments, ensuring you do not have to worry about finances during a medical emergency.

Features of a regular health insurance plan

  • High sum insured ranging between INR 10 lakh to INR 2 crore
  • Reload sum assured for specified illnesses, regardless of claims during the policy period
  • Coverage for pre- and post-hospitalization expenses
  • No-ClaimBonus (NCB) of 10% for each claim-free year
  • Cover for additional services, such as prescribed medications, ICU charges, doctors’ consulting fees, surgery-related expenses, and room rent
  • Domiciliary hospitalization, allowing you the flexibility to seek treatment within the comfort of your home

India has excellent medical facilities. However, to seek the best treatment for chronic conditions, you may opt to travel outside the country. A regular health coverage plan will not cover treatment costs incurred in a foreign country. This iswhere a global health policy proves beneficial.

Global health insurance policy:Offerings

  • Provides cash less treatment for 16 major ailments, covering operation theater charges, room rent, medications and other consumables, and doctors’ fees
  • Takes care of post-hospitalization expenses like medicines and tests for up to 30 days after discharge
  • Covers harvesting expenses of an organ donor, depending on your eligibility
  • Offers coverage for travel and accommodation expenses for the insured and one attendant
  • Reimburses the expenses incurred to repatriate the mortal remains in case the insured passes away
  • Enables you to seek a second opinion from an impaneled international medical practitioner
  • Assists you to procure the necessary visa and guides you through the procedure to take medical treatment overseas

Factors to consider before opting for a global health insurance plan

Do not confuse a global cashless health insurance policy with a travel insurance plan. The latter is available for a fixed duration and does not cover any treatment expenses. Additionally, it will not provide coverage for planned hospitalization and pre-existing conditions that require international treatment.

Here are three things you must consider before you opt to buy a global medical insurance policy:

  1. Waiting period

The regular 30-day waiting tenure from the date of issuance applies to this plan. Additionally, it has a two-year waiting period for specific ailments. Pre-existing conditions have waiting periods between two to four years as per the policy terms. Lastly, this policy does not cover genetic disorders for four years.

  1. Pre-hospitalization expenses

Most global health insurance policies do not provide pre-hospitalization expenses. The coverage is available only for in-patient treatment, which you take in a hospital abroad.

  1. Domestic coverage

You must have a domestic mediclaim policy to be eligible for a global health cover. You must check how much sum insured you need for the domestic health plan before opting for a global policy.

Global health policies do not pay for all covers. You must review the inclusions and exclusions before signing on the dotted line.

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