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What is Global Health Insurance Cover? Know Benefits and Features of Global Health Insurance

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When we travel even for a short excursion, we pack a few medicines and a small first-aid kit to stay prepared for minor injuries or ailments. Now, imagine you are in a foreign country, and suddenly, you are admitted to the hospital and have to undergo surgery immediately. Along with the emotional trauma and physical pain, a part of you would also be worried about the mounting medical bills and how your savings will go for a toss. However, do you know you can avoid all such concerns by buying a global health insurance cover? Well, let’s explore the advantages and features of global health insurance.

What is Global Health Insurance?

Are you keen to go abroad for treatment but worried about the exorbitant healthcare costs? Well, this is where global health insurance comes to your rescue. This health insurance plan covers the cost of your planned medical treatments as well as emergencies in any country. During your stay in a foreign country, if you get diagnosed with any disease or need treatment for any medical conditions, you need not stress about spending from your pocket. With global health insurance, you can breathe easy as everything from consultations, lab tests, and room rent to nursing and OT charges will be taken care of by the insurer.

Benefits of Global Health Insurance

The reasons why you should opt for global health insurance are:

• With global health coverage, you can avail of high-quality and advanced healthcare facilities in any foreign country of your choice. Although the premiums for such plans are expensive, remember your insurer will take care of the exorbitant costs incurred if the need arises.

• All your hospitalisation expenses, like consultations, lab tests, room rent, nursing charges, etc., will be covered, no matter which part of the world you undergo the treatment.

• As the sum insured by global healthcare plans is generally high, it will reduce out-of-pocket expenses.

• Such plans cover domestic as well as international medical needs.

• The premium of global health insurance for people travelling abroad for work is paid by their employer. Since this plan also covers medical treatments in the home country, you can enjoy the benefits without paying anything.

• You are eligible for a tax deduction on health insurance premiums for yourself and your parents.

Features of Global Healthcare Plans

The key features of global health insurance include the following:

• It covers medical expenses incurred both in the home country and abroad. This is beneficial for frequent travellers or those who live in different countries.

• It covers pre-planned hospitalisation for a medical procedure as well as emergency hospitalisation.

• Global health insurance also covers emergency medical evacuation by road or air. Such services are usually expensive abroad.

• A global healthcare plan provides sufficient coverage to meet the exorbitant healthcare costs abroad. This makes the best-quality treatment affordable in foreign countries.

• Most global healthcare plans cover pre-existing conditions, such as diabetes, heart conditions, hypertension, etc. In case of any emergency due to pre-existing conditions, the insurer will cover the treatment expenses.

• You may need to consult a doctor for minor illnesses or injuries during your stay abroad. Most global health plans also cover OPD-related charges.

• If you have to travel abroad frequently for a series of medical procedures, your insurer will also cover the cost of travel.

How to Pick the Best Global Health Insurance

While buying global health insurance for overseas travel is advisable, it’s essential to know how to select the best plan. So, here are some tips to help you make a well-versed choice:

• Choose a plan with adequate coverage that will cover both emergency hospitalisation as well as minor medical needs during your stay.

• Compare policies on the basis of cost, coverage, benefits, etc. Pick up a plan with maximum coverage at an affordable cost. You can utilise a health insurance premium calculator to get an estimate.

• Check the policy’s waiting period to ensure you complete it before your trip, as during this time, you cannot raise any claims. Also, look for a plan with a minimum waiting period.

• Look for a plan with a strong network of hospitals in the countries you plan to visit. Keeping the list handy for timely medical attention in an emergency is essential.

• Thoroughly read the policy’s terms and conditions before signing up.

Conclusion

Staying financially prepared for any emergency is the wisest thing to do, particularly if you have to travel abroad. With a global health insurance plan in place, you can travel with peace of mind knowing you remain covered in case of a medical emergency or routine check-ups during your stay there. While buying the policy, consider the coverage, cost, exclusions, etc., to pick the right plan for yourself and your family.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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