Global Health Insurance

What are the advantages of selecting Global Health Insurance coverage?

Health insurance isn’t just something nice to have anymore. It’s really important because medical costs are going up and more people are getting sick.

As more people need health insurance, companies are improving their policies by adding new and innovative coverage benefits. One of these benefits is global coverage, which means you’re covered no matter where you are. This makes health insurance even more helpful.

Let’s find out what global coverage means, why it’s important, and why you should choose it.

What is Global Health Insurance Cover?

Global health insurance covers medical treatment in other countries, not just in India. Nowadays, many insurance plans offer this. It’s useful if you’re traveling abroad and need medical help. This insurance will pay for your medical costs.

       

    International Travel Insurance Vs Global Health Coverage

    When thinking about getting medical treatment overseas, you might consider international travel insurance. It provides similar coverage. But it’s important to know that international medical coverage in travel insurance is different from global coverage in health insurance. Let’s look at how they differ:

    • You can only get travel plans if you go on a trip abroad. Health plans don’t have this requirement.
    • Travel insurance only covers you for the duration of your trip, but health plans with global coverage can cover you for your whole life.
    • Travel plans don’t pay for treatments in your own country, but health plans do.
    • If you plan to go to the hospital for treatment but it’s not an emergency, travel insurance won’t cover it. However, some health plans will cover these planned hospital visits.

    What are the benefits of Global Health Insurance Cover?

    Having health insurance that covers you anywhere in the world is really helpful. Here’s why:

    Hospital Expenses Coverage

    Global health coverage applies when you're in a hospital in another country as an inpatient. The policy covers the costs, like the room, ICU if you need it, doctor and nursing fees. This helps with the big expense of being in a hospital abroad.

    Emergency Assistance

    Global coverage provides financial security during emergencies. If you're in another country and have a sudden illness or injury needing immediate medical help, you can get it without worrying about the costs.

    Tax Benefits

    Health plans with global coverage offer the same tax benefits as regular health insurance plans. The premium you pay can be deducted under Section 80D, up to INR 25,000. If you're 60 years or older, the limit increases to INR 50,000. If you pay for your parents' coverage, you can claim an additional deduction of either INR 25,000 or INR 50,000, depending on their age.

    Access to Advanced Healthcare

    International treatments use advanced technologies, which can effectively address critical illnesses or major surgeries. Many health plans offer global coverage for critical illnesses, ensuring access to advanced healthcare facilities without financial concerns.

    So, opting for health plans with global coverage is a logical choice. By selecting this coverage, you can expand the range of your policy beyond India’s borders and access coverage worldwide.

    Points to Understand about Global Health Coverage

    While numerous health insurance plans offer global coverage, it’s important to understand certain aspects of this coverage.

    • You might get global coverage as a standard part of your plan or as an extra option you can pay for. Usually, it’s included with higher coverage amounts. If it’s optional, you’ll need to pay more to have it.
    • In some plans, you might not be covered for treatments in the USA or Canada.
    • The plan typically doesn’t cover expenses for doctor visits, tests, or medicine outside the hospital, or for care before and after you’re hospitalized.
    • Some plans might not cover maternity expenses, and if they do, it’s often only available in family plans.
    • You might have to pay some of the costs for international coverage.
    • There could be a maximum amount that the coverage will pay.
    • Some plans only cover emergencies if you’re hospitalized in another country. They don’t cover planned hospital visits.
    • In certain plans, coverage for international treatment is only provided for specific serious illnesses that are listed.
    • There could be a limit on how long you can use international coverage.
    • Your existing health issues and any problems they cause might not be covered.

    What are the reasons to consider getting Global Health Insurance?

    Buying Health Insurance that includes global coverage:

    Global health insurance is a useful addition to your insurance if you travel abroad. It’s not the same as travel insurance but expands where your insurance works. This means you get more protection. You can either get a new policy with global coverage or switch to one when you renew your insurance.

    But make sure to carefully read the terms and conditions of the coverage when you buy it. This way, you’ll know exactly what’s included. Also, check how much coverage you have. If global coverage is an extra option, the cost to add it is usually reasonable.

    So, think about what you need and then choose global health insurance coverage for your health insurance plan.