I want health insurance that can cover me domestically and abroad. What options are available for HNIs?

I'm interested in health insurance that provides coverage both domestically and abroad. What options are available for HNIs who travel frequently or have residences in multiple countries?

Reply by Ms. Anuradha Sriram, Chief Actuarial Officer, Aditya Birla Health Insurance
 
High Net Worth Individuals (HNIs) who travel frequently or have residences in multiple countries may require a specialized health insurance plan that provides comprehensive coverage both domestically and abroad. In the Indian context, there are certain types of health insurance plans and considerations that may cater to the needs of such individuals:
 
• International Health Insurance Plans: Some insurance providers in India offer international health insurance plans that provide coverage not only within India but also globally. These plans are designed for individuals who travel extensively  and includes covers like Emergency   Hospitalization, Emergency MedicaI Evacuation, Compassionate visit, Emergency Air Ambulance, Care and/or transportation of minor children, Return of mortal remains, Medical referral, Medical Repatriation, Loss of Passport, Loss of checked-in baggage, Trip Cancellation  & Interruption, Trip Delay, Delay of Checked-in Baggage.

• Customized Health Insurance Solutions: Some insurers may offer customized health insurance solutions for HNIs, taking into account their unique needs, travel patterns. These plans can be tailored to provide seamless coverage across borders. There are certain plans designed for HNI customers which not only covers emergency treatments abroad but also includes planned treatments for any illness / injury. Such plan covers Hospitalization Expenses, Alternative Treatment coverage, Pre and post hospitalisation, Organ donor, Emergency air ambulance, coverage for non-payable expenses, Increase of sum insured irrespective of claims under the policy etc.
 
• Wide range of optional covers: There are plans which offer wide range of optional covers to opt basis customer requirement. These includes Critical Illness cover, Personal accident, cancer booster, compassionate visit, durable equipment cover, Reduction in Specific Disease waiting period, Reduction in Pre-Existing Disease waiting period, second e-opinion, Annual Screening Package for Cancer Diagnosed Patients.

• Health Management Program: Wellness programs are integral part of Health Insurance which enable the customer in providing services like Health Assessment to know the current status their health, coaching them to manage the health and life style, tracking of their physical activities and also incentivising basis tracking mechanisms.
 
• Access to High-End Hospitals and Specialists: Ensure that the insurance plan provides access to high-end hospitals and specialists globally. HNIs may have specific preferences for healthcare providers, and the insurance plan should accommodate these preferences.
 
• Policy Portability: Check whether the health insurance plan allows for policy portability, enabling you to seamlessly transfer coverage between countries without losing benefits.
 
• Inclusion of Travel Insurance Features: Some health insurance plans may include features commonly found in travel insurance, such as coverage for trip cancellations, lost baggage, and travel delays. This can provide comprehensive protection for HNIs during their travels.
 
• Review Policy Terms and Conditions: Thoroughly review the terms and conditions of the health insurance policy, paying attention to coverage limits, exclusions, and any unique features related to international coverage.
 
HNIs with international lifestyles may benefit from consulting with specialized insurance advisors or brokers who can assist in finding the most suitable health insurance solution. These advisors can help navigate the complexities of international health insurance and ensure that the chosen plan aligns with the individual's specific needs and preferences.

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