5 Things To Know About Buying Global Health Insurance Plan
After a jarring two years, the world is finally beginning the march back to normalcy. From theatres to tourism, everything has started to open back up. With more countries opening their borders to international travel, the opportunity for the much needed vacation has become more of a reality. As we start planning the next getaway, ensuring the good health of our loved ones has become just as vital.
When you’re away from your home country, you’re not always familiar with the people around or know whom to contact. A more stable option in this case, is health insurance. In fact, a number of countries including Thailand, Germany, Spain and more have made it mandatory for travellers to have health coverage as a part of their travel insurance regulations. And getting medical treatments overseas can cause a drain on your finances.
To offer consumers a better choice,health insurance plans in India have seen innovation in the form of global health insurance. Also known as International Health Insurance, this comprehensive health cover is gaining more popularity in recent times. It offers comprehensive coverage that generally includes in-patient, out-patient, emergency evacuation cover among others. Some plans like the ManipalCigna Lifetime Health Plan also offer lifetime annual renewability.
Who Needs Global Health Insurance?
Global health insurance is recommended to people that can be broadly categorized into:
- Corporate Travel
- People Seeking Overseas Medical Treatments
There are a number of global health insurance plans in India that offer these travellers worldwide coverage excluding USA and Canada.
Features Of Global Health Insurance Plan
Global health insurance plans are gaining more popularity because of the amazing benefits they offer. Some of the features that makes this plan great are listed as follows:
Offers Critical Illness Insurance with Global Reach:
With a global health insurance plan, you can opt for more advanced treatment for major illnesses overseas. It offers the insured person cover for hospitalisation across the globe. This includes pre and post hospitalisation costs
In most global health insurance plans, expenses occurring due to transporting you to and from the hospital are covered in the plan. In plans like the ManipalCigna Lifetime Health Plan, one annual air ambulance charge is also covered in the policy.
In case you’re facing an emergency situation caused by a major illness, your global health insurance plan will pay for an emergency evacuation. This is done only if you’re in an area covered by your plan and will cover all expenses to get you to the nearest facility that can provide you with the medical care you need.
Global Travel Vaccination:
A number of global health insurance plans in India offer cover for the cost of vaccines that you are required to take when visiting certain countries. These vaccines must be approved by the World Health Organisation (WHO) and the country should be within the plan’s coverage area.
Global Robotic and Cyber Knife Surgery:
Many people get this policy because they want to opt for a more advanced treatment plan in another country. That is why, the global health insurance plan covers expenses occurring from a Robotic or Cyber knife surgery performed outside India. The main condition here is that the surgery must be prescribed for a disease covered within the policy.
Global Modern and Advanced Treatments:
In relation to the feature above, global health insurance also covers new age treatments in foreign countries covered by the plan. A number of modern and advanced treatment plans are covered in your policy. As long as your medical practitioner prescribes these treatments you can avail of them overseas.
Factors To Consider Before Buying
The global health insurance policy sounds like a great deal, but there are a few things you must keep in mind before buying the plan. Everyone has a different set of unique needs, so you cannot just hope for a one size fits all plan. Here are some of the factors that you should consider before your purchase:
Geographical Area Covered
While your global health insurance is a plan for overseas treatment, not every foreign city is covered. Most of these plans do not cover USA or Canada. To get coverage in these countries, you will need to pay an extra premium. But even when you consider the coverage in other nations, you should check carefully. Does it cover the entire continent, or does it cover specific countries/cities? Because you can only get cover for treatment in areas covered by your plan. That is why it is very important for you to read through the terms and conditions about the geographical area covered in the plan, so you know exactly where you need to go to get treated.
Waiting Period Of The Policy
The waiting period of a health insurance policy signifies the number of days before which the policy benefits come into effect. This means that before the waiting period ends, you cannot avail the features of health insurance plans in India. That is why buying global health insurance immediately before leaving the country may not be the best idea. Some plans have a 15 day waiting period, some have 30 days. This difference makes a huge difference when you’re away from your home country and have to deal with an uncertain situation. That is why you should make note of the waiting period of all global health policies you are exploring, and choose the one that matches your needs well.
Inclusions And Exclusions
No two plans are the same. Each insurance provider has their own set of features and benefits listed in their plan. Add on benefits are also often different in the case of different insurance companies. That is why you must meticulously go through the inclusions and exclusions of your plan before making a purchase. Inclusions are those amenities offered to you as part of your policy. This can include conveniences like ambulance charges, vaccination charges, home visits by the doctor and more. Exclusions on the other hand are those amenities that you do not get from this plan. This can include certain medical procedures, unverified treatment options and more.
Seamless Claim Process
Filing for a claim is the most important step of owning a health insurance policy. It can also be a very tedious process. That is why, especially for a global health insurance plan, you should check the claim process carefully before investing in it. Some of the things you should look out for include the process of filing your claim, the company’s claim addressal history and the documents needed to file the claim.
Network hospitals are those medical treatment centres that your insurance company is associated with. Some of the advantages of going to a network hospital include less paperwork, quicker processing of claims, cashless treatments and more. It is important to check which hospitals are included in the network well in advance, so you can get the best treatment at a place already verified by your insurance provider.
According to several reports, medical expenses have been surging at a double digit rate in India, and the trend is likely to persist. Thus, by anticipating and understanding a variety of health challenges people could possibly face over their lifetime, ManipalCigna Lifetime Health Global plan, is an adequate no-compromise health insurance cover to secure not just your current health needs but also the ones you are likely to require at different stages of your lifetime.