What is Global Health Insurance?

• Global health insurance plans are designed to cover your hospitalization costs, whether planned or unplanned, seamlessly anywhere across the globe. Coverage usually includes in-patient and out-patient treatment expenses, air ambulance, and emergency treatments subject to the policy's terms and conditions. The main advantage of having this policy is getting medical attention whenever and wherever required, be it in the country you reside in or any foreign land.

• A global health insurance policy is not the same as a travel insurance policy. A global health cover is designed for those who need to have the option of treatments abroad, whether planned or unplanned. In case you are in India and planning treatment /hospitalization outside India, the same needs to be certified by a verified medical practitioner and you need to intimate the insurance company before travelling abroad for treatment.

Global Health Insurance Cover Benefits:

• Access to advanced healthcare facilities:

When it comes to healthcare, many international destinations provide highly advanced treatment facilities. These facilities enable the insured to receive the best treatment possible for even the most critical illnesses. It even allows the insured to choose the hospital or doctor of his choice for faster, more comprehensive, and better international healthcare. Many policies even cover consultations with foreign doctors.

• Coverage for emergencies:

With global health coverage, you get financial security in the event of a health emergency as well. If you face a medical emergency in outside India with no financial/personal support, it can be scary. However, with global coverage, you can receive treatment without worrying about financial implications.

• Day-to-day medical expenses:

Global health insurance coverage can also aid with day-to-day medical expenses that you and your family may encounter outside India.

• Tax benefits:

Under Section 80D of the income tax act, the insured can claim a deduction of up to Rs. 25,000 if the policyholder's age is below 60 years.

Things to keep in mind:

Buying any insurance policy requires you to have proper due diligence. With global health cover too, you should have a proper understanding of what you are getting. Here are a few things to keep in mind.

• The scope of the countries covered under the policy.

• Policy terms & conditions related to pre-hospitalisation, post-hospitalisation costs, OPD treatments, copayment clauses, coverages & exclusions, waiting periods for pre-existing diseases, etc. These may vary from insurer to insurer.

• For international coverage, most plans have a specified sum insured and certain illnesses listed. You must choose an adequate coverage amount, given the high cost of treatment abroad. Usually, a cover of at least Rs.3 crores should be considered.

• Take note of the hospital network that the insurance company has. Usually, insurance companies have tie-ups with internal platforms with hospital chains and networks offering cashless facilities.

• Check the credibility of the insurance company for handling international claims and the claim registration process.