Executive Summary: Health Insurance Providers have started offering insurance cover for medical treatment abroad. We compare three plans here – Max Bupa Heartbeat Individual – Platinum, New India Global Mediclaim Policy and Apollo Munich’s Health Wallet.
Medical facilities in India are quite good and cost effective as compared to many countries. Many people from abroad come to India for their treatment or surgery. But many Indians are interested to get treatment abroad. The health insurance companies have realised this and started offering policies to cover medical treatments abroad. Let us look at some of the policies –
Insurance Provider
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Max Bupa Heartbeat Individual – Platinum
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New India Global Mediclaim Policy
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Apollo Munich’s Health Wallet
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Details
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Offers medical coverage across the world for certain illnesses such as heart attack, certain cancers, stroke and certain brain conditions.
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A global mediclaim policy that covers treatment for medical treatments like neurosurgery, heart surgery, organ transplant, bone marrow transplant and cancer surgery.
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Offers Reserve Benefit and Restore benefit and provides coverage for treatments for illnesses like cancer, certain heart conditions and surgeries like neurosurgery and transplants using the ‘Critical Advantage’ Rider.
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Conditions
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Age of adult policyholder should be 18 years. There is no upper limit.
Pre medical check up for people above 40 required. The treatment should be done in a network hospital for making a claim. |
Age of policy buyer should be between 18 years to 65 years.
Should have Health Insurance Policy with Sum Insured of 8 lakhs and above. Pre-policy Medical Tests required. Selection of medical centre based on options given by MediGuide. |
Entry age – 91 days to 65 years.
Person should have Apollo Munich- Easy Health/ Optima Restore/ policy where sum Insured is Rs.10,00,000 or above. |
Options for Sum Assured
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Rs. 15,00,000, Rs. 20,00,000, Rs. 50,00,000 and Rs. 1,00,00,000
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Two options available –
Asia Plan – Maximum of USD 1000000 (Lifetime) Worldwide Plan – Maximum of USD 2000000 (Lifetime) |
Overseas Cover available for sum assured of USD 250,000 & USD 500,000
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Coverage/ Benefits
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The policy covers
– Pre and post hospitalization expenses – Cashless treatment – Emergency Medical Evacuation – Alternative Medical Treatments like Ayurveda and Homeopathy – Maternity benefits after 2 years of continuous coverage – Second Medical Opinion |
he policy covers –
– Medical Second Opinion Travel Cost (including companion) up to USD 3000 per person per year – Accommodation Cost (including companion) up to USD 330 per day for 30 days – Translator Services – Repatriation of Mortal Remains – Assistance for Medical Visa |
It covers –
– Travel costs for the insured and an accompanying relative – Accommodation expenses – Second opinion – Pre and post hospitalization expenses |
Exclusions
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– HIV and AIDS related diseases
– Mental and Psychiatric Conditions – Non-medical expenses – Obesity, Dental Procedures, Sleep Disorders, Artificial Life Maintenance and Conflict and Disaster related medical conditions |
– Treatment costs for same condition in India
– Medical conditions due to war, terrorism, natural disasters, nuclear reactions and officially declared epidemics – Medical expenses due to AIDS, alcoholism, drug addiction – Cosmetic surgery, plastic surgery – Annual medical check ups, medicines purchased without medical prescription, injuries due to extreme sports, suicide attempts |
– Treatments for HIV and AIDS related diseases
– Dental treatment and treatment during pregnancy – Hospitalization due to wars |
Premium Payable for sum assured of Rs. 50,00,000 for a 35 year old man
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Rs. 68,072
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Rs. 50,00,000 – Rs. 11,091
Rs. 60,00,000 – Rs. 14,209 |
Rs. 49,802
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Our Verdict
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Cashless Facility Available.
Wide Range available in Sum Assured amount but does not cover ancillary costs like travel and accommodation. Premium is very high. |
Comprehensive Coverage.
Cashless Facility available. Provides guidance for selection of medical centre and provides cover for costs incurred for companion’s travel and accommodation cost. Premium is cost effective. |
Cashless facility is available.
But the sum assured is on the lower side. |
There is increasing mobility among Indians and we want to be medically covered all across the world. Moreover many people prefer treatment abroad for a range of reasons be it privacy or advanced medical treatment. Therefore it is good that insurers are waking up to the call of coverage of medical treatment in other countries as well.
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