How Global Health Insurance Is Different Than Travel Insurance

Travelling abroad is an exciting experience, but it can also be unpredictable. Unexpected medical emergencies can be a huge setback, both physically and financially. Therefore, it is important to get medical insurance coverage before embarking on your journey. Whether you are travelling for a short vacation, business trip or to study, having medical insurance can provide you with the necessary financial security in case of an emergency.

Healthcare expenses can be quite expensive in foreign countries, and they can quickly add up, leading to a huge financial burden. Medical insurance can help protect you from the high costs of medical treatment abroad, giving you peace of mind and ensuring that you don’t have to worry about paying exorbitant medical bills. So, make sure to get medical insurance before your next trip abroad, and enjoy your journey with complete peace of mind. There are two kinds of insurance you can invest in while looking for medical coverage abroad – Travel insurance & Global Health Insurance.

Both kinds of insurance cover different needs and offer different benefits. Depending on your needs, type of travel & stay you can invest in a plan that gives you wider coverage and maximum benefits. However, before you know what kind of benefits you can get from these plans, let’s understand what these plans offer and what is the difference between the two.

What is global health insurance?

Unlike health insurance  which provides comprehensive coverage in India, the coverage offered by global health insurance extends overseas. Global health insurance, also known as International health insurance, covers one’s medical expenses either planned or unplanned in a foreign land, depending on the terms and conditions of the policy. Most global health insurance plans offer cashless hospitalisation, pre and post-hospitalisation cover, ambulance costs, diagnostic costs and other related expenses as mentioned in the policy documents.

Global health insurance is a long-term plan, usually an annual plan and you will have to renew it every year to enjoy its benefits. On the other hand, a travel insurance plan, which also provides medical coverage is a short-term plan which covers you only for the number of days you are planning to stay overseas.

Who should opt for a global health insurance plan?

A global health insurance  plan is apt for those who travel abroad frequently, expats, people relocating or going to stay abroad for a long time at a stretch either for work or education. Some countries might make it a mandate to get health insurance while staying on their shores and there could also be a possibility that you might not be covered under their National Health Care System. In such a scenario having global health insurance can save the day. This plan can be opted as an individual plan or can be extended to all members of the family.

What is travel insurance?
As the name suggests, travel insurance is an insurance plan that safeguards you during your travels both domestic and overseas from medical & dental emergencies, journey-related issues like lost or delayed baggage, flight delays and cancellations. When it comes to medical emergencies abroad, your travel insurance gives you adequate support and security to cover the expenses. However, the benefits included in travel insurance might not be as adequate as those of global health insurance.

Who should opt for travel insurance?
Travel insurance is apt for people who are planning a short vacation or stay overseas and wish to stay covered for any medical or dental emergencies along with other journey-related mishaps like lost baggage, missed flights etc.

What is the difference between global health insurance and travel insurance?

Here are a few of the differences between global health insurance and travel insurance:

i. A global health insurance policy is a long-term policy which offers annual coverage whereas travel insurance is a short-term policy which covers you only for the period of time you are travelling and can offer coverage for up to six months or less.

ii. Global health insurance gives you the freedom to choose your healthcare service provider from across the globe from the network of hospitals covered by the insurer. With travel insurance, you can get treatment from hospitals covered in the network of that particular place you are visiting.

iii. Global health insurance provides coverage for long-term care needs like maternity coverage, pre-existing health conditions and surgery. Travel insurance doesn’t offer this facility.

iv. A global health insurance extends its coverage both domestically and overseas, whereas travel insurance covers you for your stay in that particular location for which you have travel insurance.

v. Global insurance provides coverage for planned or emergency medical services both in India and abroad while travel insurance provides medical assistance for emergencies that could happen at a foreign shore.

What does global health insurance cover?

Global health insurance benefits differ from one insurer to another, broadly it will cover the following benefits:

Hospital stays: Depending on your plan you can avail cashless hospitalisation from network hospitals in case of a planned or emergency stay.

Routine check-ups: Many of the plans extend coverage to the standard routine care procedures depending on your plan and the premium paid.

Cover for pre-existing conditions: Global health insurance could also extend coverage for your pre-existing diseases overseas, however, check on the waiting period for the same and diseases that are covered under your plan.

Cover for chronic conditions: It can extend coverage for critical illness too, depending on the add-ons and premium you choose.

Maternity care: Like other healthcare plans, global health insurance covers you for the pregnancy period and beyond.

Dental care: Dental treatments abroad can be expensive, so most global insurance plans include it in their policy.

Mental health care: Not all health issues are physical. This is why support is extended to cover psychological treatment in most global plans.

 What does travel insurance cover?

Travel insurance benefits differ from one insurer to another, broadly it will cover the following benefits:

Flight cancellations: Your travel insurance could adequately compensate for flight cancellations if it is included in your policy.

Loss of luggage: In case of lost luggage you can ask for compensation or reimbursement for suitcases going missing depending on your policy terms and conditions.

Flight delays: If your flight takes longer than expected or you miss a connecting flight as a result of the delay, you will be compensated for the same.

Loss of personal belongings: Misplaced items can be a cause of anxiety, have peace of mind with travel insurance.

Theft while abroad: Your travel insurance can cover you in case of theft or burglary abroad.

Emergency medical treatment: Travel insurance covers you for those unexpected medical emergencies that can happen abroad.

Repatriation to your own country: Covering travel back to your own country after you’ve received emergency treatment wherever you are is also a crucial inclusion in travel insurance.

Conclusion: Both travel insurance and global health insurance have their own set of benefits. Choose a plan that suits your personal needs and provides wider coverage during times of need. Make an informed decision so you don’t have to feel helpless and lost in a foreign country during a time of crisis.

This is a Partnered Post.