Global Health Insurance Cover: For better health facilities, patients often seek their treatment abroad. health insurance plan For example, cricketer Yuvraj Singh, who beat cancer, is a role model for many. He defeated the disease by getting treatment abroad. But this trend is no longer limited to celebrities, sportspersons or politicians, now more people want to use the world class facility. Understanding this demand in the market, several insurance companies like Manipal Cigna and Aditya Birla Health Insurance are offering plans that cover medical treatment abroad. click here
Before buying a global cover, keep these things in mind: Number of diseases covered
These plans do not cover hospitalization expenses. These plans provide lump sum benefit on diagnosis of critical diseases included in the list.
For example, Aditya Birla’s Global Health Secure offers international cover for 16 critical illnesses including cancer, heart valve transplant, organ transplant, bone marrow transplant. Similarly, Manipal Cigna’s Lifetime Health Global plan covers 27 major diseases.
The life insured may already be suffering from diseases at the time of taking the policy. They are classified as pre-existing diseases and are covered only after completing a certain waiting period, which can range from 2 to 4 years. The waiting period of one insurer may be different from another.
world wide applicability
Pay special attention to the number of countries covered in the plan. Because for countries that are not empaneled, such as the USA and Canada, insurers charge an additional premium.
However, some insurers like Manipal Cigna also customize your plan where you can choose the countries for which you are taking global coverage, which can reduce your premium rate. click here
Sum Insured (Sum Assured)
The cost of treatment abroad is high. Hence, this policy is perfect for those who can opt for High Sum Insured. For example: Manipal Cigna’s Lifetime Health Global plan cover starts from Rs 50 lakh to sum insured plan of Rs 3 crore.
The Life Assured is covered up to the Sum Insured chosen under such plan, and there is no specific cap.
mode of payment
One should ask the insurer in advance whether the claim will be paid cashless or on whose basis the reimbursement will be made. In case of reimbursement, you should have funds in advance before going for the treatment.
For cashless claims, your medical bills are settled by the insurance company directly with the hospital.
health insurance plan premium rate
This can be an in-built feature, or you can take it as a rider with your policy. For example, for a Lifetime Health Global plan of Rs 1 crore for a man of 30 years (including spouse and two children) from Manipal Cigna, the cost of premium for a sum-insured of Rs 1 crore is approximately Rs 23,000.
With an insurer offering global coverage, you can either opt for global coverage or customize it as per your requirement.
While including overseas insurance in your health plan, ensure that you take adequate sum insured as the cost of medical treatment abroad can be very high.