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Overseas Travel Health Insurance for India

By: Danish

The Health Insurance policy issued to you is valid in India only. When you travel out of India then you need Overseas Travel Health insurance policy for the following reasons :

i. If Hospitalization is required while you are in a foreign country then treatment may not start in a hospital; unless you make the payment in cash or by credit card or produce health insurance policy reference / card.

ii. Some embassies of foreign countries need it as part of the documentation required for the issue of a visa. Examples include the German Embassy and Spanish Embassy.

Initially this policy was for taking care of hospitalization/medical treatment only but now this product is available with certain additional features.

You will notice that in the case of a Health Insurance policy valid within India there is usually a limit of Rs 5,00,000 but in the case of Overseas Health Insurance policies, this sum can be as high as US$ 5,000,000, which is nearly equal to Rs. 235 lakhs. (Rs 2.35 crores)

A health insurance policy valid within India can be difficult to find for those above 60 years of age. In the case of Overseas Travel Health Insurance for India, the policy can be issued even for those up to 84 years old but subject to the following documents being attached with proposal form for all those whose age is above 70.

• ECG test
• Blood test
• Urine test

Medical assessment in specified format duly filled/signed/rubber stamped along with license no. of the postgraduate (M.D. or above) doctor who has filled the report. A report by an MBBS qualified doctor is not valid.

The medical specialists of the Insurance Companies generally based in Zonal office or Head office review the documents and decide:

1. Whether to accept the proposal and underwrite the risk

2. If consenting to underwrite the risk should there be loading on premium rates and what should be the maximum amount of Hospitalization covered.

This approval cycle can take 2 to 5 days. Normally for a person of 70+ age the limits imposed with respect to hospitalization / medication in the policy are between US $ 10000 and US $ 50000. You will notice that this is much less in comparison to the limit of US $ 5,000,000, which is available to those who are in the age group of 70 years or less.

The good thing about this policy is that it is even issued to those who have a preexisting disease. Hospitalization in a foreign country even with the disease (preexisting) is covered.

On the concept of a loading factor based on specified data it has been seen that for a person aged 84 traveling to the USA, a specific PSU loaded the premium by 150%. Private Insurance Companies are generally not issuing policies to those, who are 80+in age.

In recent months we have noticed that PSU's have started discouraging the issue of such policies

These travel policies can be divided in to :
1. Single trip policy
2. Annual multitrip policy

As the name indicates single trip covers a single trip, starting on a specific date and ending on a specific date. It is possible to extend the date on payment of additional premium subject to condition that no claim has been made. Extension of policy is at the discretion of the Insurance Company.

An Annual Multi Trip policy is valid for 1 year. As many trips as you wish are possible but it is subject to the condition that : "A Single trip not being more than 30 days." Some Insurance Companies now offer an option increasing this to not more than 45 days.

Article Source: http://www.thecaymanhost.com/articles

What to Do Next... If you have any queries regarding the above information or looking for health related advice, please contact us at ibidelhi@gmail.com or visit us at www.healthinsuranceindia.org/">Overseas health insurance India www.healthinsuranceindia.org/">Travel health insurance India www.healthinsuranceindia.org/">Travel medical insurance India

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