Resonating well with its name the Global Health Cover plan provides financial aid against planned or unplanned medical treatments. Global Health Coverage ensures that medical expenses incurred on a treatment taken in the homeland or abroad will get covered under the health insurance plan.
If you require constant travel, especially for work or leisure, accessing quality health care services in times of an emergency can become a real struggle. Procuring good medical amenities could be both daunting and expensive in international locations. Whether you are a student, a working professional, a businessman, or just a globe trotter panic may break loose in case of a medical contingency in a foreign land. It is because the medical assistance you may require can be super expensive and though you would have a health insurance policy back home in India it will not be of much help in such a scenario.
In cases like these, even travel insurance may not suffice as it operates within a limit. Also if someone needs to travel internationally to a foreign land, and get specialised treatment, the cost of the treatment can make one pay through the nose. To guard one from situations like these many Indian insurance providers feature health policies that cover treatment abroad.
Global Healthcare Insurance policies have been designed exclusively to offer seamless coverage to people in need of treatment either in India or across geographical boundaries in case of medical contingency or elective treatments.
Who should opt for Global Health Insurance?
Global Health Cover is especially beneficial for the likes of the following people
A parent/guardian who frequently travels to visit his/her children settled abroad.
A senior business executive of a top-notch MNC requiring constant travel who travels overseas frequently for business
People having long-duration stays in different locations
What is the difference between Travel Insurance and Global Health Cover?
A Travel Insurance plan is designed for travellers on an international trip for a short duration. It is curated to cover the losses incurred during the misplacement of personal belongings, flight cancellations, or some kind of emergency medical treatment. Travel Insurance aims at covering the expenses incurred in getting a person well enough to return home. Once the person gets back to his homeland the cover offered ceases the same day.
Global Health Insurance plans on the other hand are crafted to provide an all-encompassing coverage for inpatient treatment outside India, and prolonged treatment of chronic medical conditions. It is designed to provide long-term medical assistance to the patient. It lasts for all round the year and the coverage continues even after the individual returns to his/her homeland.
What should be kept in mind when opting for a Global Health Cover?
There are certain factors that should be kept in mind while selecting Global Health Coverage.
First and foremost assess the credibility of the insurance partner which should be able to extend hassle-free settlements for the claims made on medical expenses either in-house or abroad.
It should provide maximum Global Coverage for both elective and emergency medical conditions, and for chronic and minor ailments.
The plan must also facilitate one’s treatment in one’s own country if one opts for it and should cover in-patient, as well as pre and post-hospitalisation expenses. The Global Insurance Cover should allow the insured to undergo treatment anywhere globally regardless of the country in which the diagnosis was made.
Generally, the available Global Health plans offer two types of geographical coverage one that includes the USA and another that excludes the USA. Plans excluding coverage for the USA have lower premiums whereas plans including coverage for the USA have higher premiums. So, one can easily opt for one which suits his needs.
One must check the cycle of the premium-payment policy of the insurance company for Global Health Insurance coverage whether it is monthly, in 3 months, 6 months, or annually. This enables one to plan better keeping the travel duration in mind.
One must check the waiting period before a policy becomes active. This will help one plan travel in line with the purchased health policy.
One must be well-versed in the exclusions of the policy. This will save one from uncalled-for distress, and financial stress in times of need.
Thus, investing in Global Health Insurance could without a doubt be one of the best decisions that one can make before one sets out to enjoy a stay in a foreign land. It will equip you completely to handle a medical contingency if one crops up.
