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Health Insurance Plans give the insured financial cover for their future medical needs. Any individual can buy a health insurance policy and many have already.

However, one frequently asked a question about health insurance policy among individuals is, “Will My Health Insurance Still Be Valid If I Move To Abroad?”

This article lets us know what will happen to an individual's health insurance policy if he/she moves abroad!!

Do Health Insurance Plans Have Geographical Limitations?

Well, yes health insurance plans are associated with geographical limitations. Most of the health insurance policies, provide cover for medical expenses to people staying in India only.

Your medical insurance policy will provide coverage for hospitalization charges, medicine charges, OPD treatment, and other medical-related expenses, but only when it is incurred at a hospital or health clinic in India. Your medical insurance cover will, however, not be valid outside India.

However, to resolve this issue faced by several insured, the insurers now offer Health Insurance Plans that offer worldwide coverage to their customers. If your health policy comes with global coverage, your insurance company will pay for your medical bills incurred while traveling to a foreign country.

The prominent thing to know here is that most health insurance plans offer global coverage as an add-on cover, which can be availed only on the payment of an extra premium amount.

Does My Health Insurance Plan Be Valid If I Shift Abroad?

Well, this can be answered easily. To know, your health insurance policy will provide coverage or not if you shift abroad or the medical treatment is carried in a hospital outside India, you have to check!

You have to check whether your health insurance policy has global coverage or not!!

If you have a basic health insurance policy without global cover, it will not be valid to provide medical coverage once you move abroad. On the contrary, if your health policy or personal accident policy comes with worldwide coverage, it will remain valid even after your shift abroad and cover the medical expenses incurred there.

Should You Cancel Your Health Insurance Policy When Moving Abroad?

If you have a regular health insurance policy that offers domestic coverage only, it is logical to cancel the policy before you move abroad. You won’t be able to raise a claim while staying abroad and thus, it makes no sense to keep paying its premium.

Which Health Insurance Plan Should An NRI Buy?

Experts say if you are an NRI or Non-Resident Indian who travels frequently to India, buying a top-up insurance plan for you is a great idea.

A top-up plan provides coverage for your medical expenses after you have paid the deductible amount. With a top-up plan, you will be covered against huge medical bills by your insurance company but will have to manage minor medical expenses on your own. It will also be helpful if you plan to eventually move back to India.

Besides, you will save a lot of money on premiums by buying a top-up plan. This is because the premium of a top-up plan is more affordable than the premium of a regular health plan with a high sum insured.

You can contact your insurer or can visit Ashutosh Securities Pvt. Ltd. for any further assistance in mutual fund investment. Keep reading our article and stay updated with the latest news about Health Insurance and Life Insurance!

For any kind of query, you can contact us at Shri Ashutosh Securities Pvt Ltd., we are here to help you in any way possible.

Happy Investing!

(Mutual Fund investments are subject to market risk Illustrations are for example only, there is no guarantee of returns. Past performance is not an indicator/guarantee to future returns).