Many high-income individuals prefer to get treated overseas in case of critical illnesses, to take advantage of the technological advancement in medicine in the. Alternatively, in the case of life-threatening diseases, you may be compelled to look outside your country for a cure. A major impediment in both cases is the cost.
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The average cost incurred in the US in case of a heart attack is $760,000 (over 5 crore rupees), compared to Rs.3.5 lakhs in India. Because of the high cost of healthcare overseas and the unfavourable exchange rate, Indians going abroad find it difficult to make the payment out of their own pockets.
SO, Can the Coverage of Your Health Insurance Extend to Overseas Expenses? Probably not!
Indian health insurance providers do not, as a rule, include overseas treatment within their coverage; in fact, they explicitly exclude it. As a result, high net-worth individuals often purchase insurance from insurers in their country of preference to pay for treatment.
Recently, several Indian insurers-three to be exact-have also introduced health insurance plans which specifically target treatment in countries other than India. Considering the rapid economic development in India, this is a good move. Here is a look at your options.
|Health Insurance Company||Health Insurance Plan with Overseas Cover||Sum Insured||Network Hospitals||Incurred Claim Ratio|
|Aditya Birla Health Insurance||Activ Assure Diamond Plan||Rs 2 Lakh- Rs 2 Crore||6000+||59%|
|Bajaj Allianz Health Insurance||Global Personal Guard Plan||Up to Rs 25 Crore||6500+||85%|
|Liberty Health Insurance||Health Connect Supra||Rs 3 Lakh to Rs 100 lakh||5000+||82%|
|Niva Bupa Health Insurance (Formerly known as Max Bupa Health Insurance)||Heartbeat Health Plan||Rs.15 Lakh- Rs1 Crore||4500+||54%|
|Manipal Cigna Health Insurance||ProHealth Plan||Rs 2.5 lakh- Rs 1 Crore||6500+||62%|
|National Health Insurance||Overseas Mediclaim Policy for Business and Holiday||-||6000+||107.64%|
|New India Assurance Health Insurance||Global Mediclaim Policy||USD 1 million (Lifetime USD 2 million)||3000+||103.74%|
|Oriental Health Insurance||Overseas Mediclaim Policy||Rs 50,000 - Rs 5 Lakh||4300+||108.80%|
|Religare Health Insurance||Religare Care||Rs 4 Lakh-Rs 6 Crore||7400+||55%|
|Royal Sundaram Health Insurance||Lifeline Elite Plan||Rs 25 Lakh – Rs 1 Crore||5000+||61%|
Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
( The above table does not represent any particular order and the ICR is based on the IRDAI Annual Report 2018-2019)
Checkout the plans in detail below:
So, your typical health insurance plan does not cover international expenses, but you can go for one of these specialized policies which will cover the cost of treatment abroad. The annual premium for these plans is much higher than a plan providing equivalent benefits but restricted to India.
As these plans cost more than twice what a similar domestic plan would, but save a lot money when caught in a medical emergency in a foreign land or to avail the best possible treatment overseas.
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