It is only natural for us to want to provide the best healthcare possible to a family member with serious health issues. While a normal health insurance policy provides us financial coverage in times of medical crises, it does not give access to the best medical treatments available worldwide for critical illnesses.
An international health insurance policy, on the other hand, specifically caters to planned medical treatments that can be availed globally for critical surgeries and treatments. The following guide discusses the cost of international health insurance and how you can manage it efficiently.
What is International Health Insurance?
An international health insurance policy is specifically designed to help you with financial coverage for planned hospitalisations all across the world. With this cover, you can provide your loved ones with access to high-quality healthcare services globally.
An international health insurance covers the cost for abroad-based planned treatment and hospitalisation expenses. Critical treatments including heart surgeries, bone marrow transplants, hip or joint replacements, etc., are expensive treatments that require top-notch medical assistance. These are made possible through international health insurance coverage.
International Health Insurance - Benefits
Wide Coverage - Financial coverage for any planned hospitalisation in India or abroad.
Hospitalisation Costs - Expense incurred in planned surgeries for critical medical conditions such as heart surgery, neurosurgery, hip replacement surgery, skin graft (post major burns), etc.
Travel and Accommodation Costs - Apart from hospitalisation expenses, this policy also covers the cost of travel and accommodation for the insured individual or insured family members.
Second Opinion Cost - International health insurance also covers the cost of opting for a second opinion.
Factors that Influence the International Health Insurance Cost
Firstly, the international medical insurance cost is different for every individual. Next, there are some important factors that affect the cost of such an insurance policy that are listed below:
The Location Factor - The country that you choose for your planned treatment plays a key role in deciding the premium cost of this policy. For example, if you plan to go to the U.S.A. for treatment, you will have to pay a higher premium as healthcare is more costly in the U.S.A. than in other countries.
What Policy Type You Want - Whether you are looking for health insurance for family or for yourself, will determine the cost of the premium. International health insurance policy premium for an individual is obviously lesser than a family floater plan premium.
How Old You Are - If you are older, you are more likely to require healthcare, which is why the premium cost is higher for individuals who are older compared to young individuals.
Pre-existing Health Issues - Your travel health insurance international cost also depends on whether or not you have pre-existing medical conditions, like elevated blood sugar or blood pressure, which can later on lead to critical illnesses and health complications. In the case of pre-existing health issues, the premium cost goes high.
Lifestyle - If you drink or smoke regularly, your lifestyle choice can lead you to critical medical disorders, which will impact the cost of your policy premium.
How to Calculate the International Health Insurance Premium?
To find the cheapest international health insurance policy, you have to spend some time researching and comparing different insurance policies. Today, it is possible to calculate the premium cost offered by different insurers online and then opt for the one that suits your budget and insurance requirements.
In order to calculate the cost of international travel health insurance, you have to use the calculator provided by insurers online, followed by comparing the quotes of individual insurers.
Here is an example of how to calculate premium:
Visit the insurer’s official website and locate the page where they provide the premium calculator.
Next, provide all necessary details, including personal details and other required information such as whether you want insurance coverage for yourself or for your entire family.
Finally, you have to click on “Get Price” to receive the quote that includes the estimated cost of insurance along with discounts (if available).
Get quotes from all trusted insurers and select the one with the lowest international health insurance price.
How to Strategically Manage an International Health Insurance Premium Cost?
These are some helpful tips that can lower your insurance premium cost:
Maintain your health to ensure that you are free of chronic ailments. Also, opt for preventive health checkups to keep your body healthy.
Opt for voluntary co-payment so that the premium cost is lowered. If you are willing to make payment for a portion of the medical expense, your insurance premium cost will come down.
Be prudent while selecting the insurance plan, and opt for a policy that will cover crucial expenses like hospitalisation and treatment without placing you in financial debt.
Opt for an online international health insurance plan, as purchasing through a broker or agent can be more costly because of the involvement of a middleman.
Reliance Health Global Policy
At Reliance General Insurance, our
International Health Insurance prioritises your health first. We want to help you provide the best healthcare option for you or your family members. With our insurance coverage plan, you can not only afford to pay for the expenses of a planned hospitalisation abroad but can also cover the cost of accommodation and travel required for such a planned treatment.
Whether you want to opt for our Health Global Policy for an international planned treatment option or are looking for a family floater health insurance plan, our coverages ensure your financial safety when undergoing medical treatments. To find out which of our
health insurance plans meet your requirements in the best possible way, you can browse through our website.
Conclusion
With all the necessary information on international health insurance policy costs, it should now be convenient for you to opt for a policy that matches your budget. There is no point in delaying healthcare for your loved one who is suffering from a serious or critical illness and in need of proper medical treatment. This insurance policy will enable you to cover the cost of providing the best of medical care to someone who requires it the most.
Frequently Asked Questions
What does an international health insurance policy do?
If you or your insured family member requires a planned surgery or treatment abroad, then this policy covers the expenses that you may incur for the treatment, subject to the sum insured by you. It also provides coverage for repatriation of mortal remains, and for a second opinion if required.
Can an international health insurance policy be purchased from a foreign country?
Yes, it is possible to purchase an international health insurance policy in a foreign country, but you have to pay the premium cost in the currency of that country. This could be highly expensive, and may not be affordable. It is therefore recommended that you purchase international health insurance coverage from India before opting for planned medical treatment abroad.