Medical Insurance in India

Introduction to Medical Insurance

India is the most preferred medical tourism destination in the world. The increasing cost of medical insurance every year is meant especially for those people who pay for individual health insurance policies. The cost of many medical procedures in India is substantially lower as compared to other western countries. The medical cost of the insured patient is covered by the medical insurance in India in the case of accidents and sudden sickness. A number of benefits are there for individuals and employers to begin using medical tourism in India for several medical procedures.

Medical Insurance and Legal Aspects

It is essential to be aware of all the insurance facilities and legal aspects of the medical treatments. Medical tourists should ensure that the insurance provider is covering that hospital where they are being treated in their insurance policy. The legal recourse in the case of unsatisfactory treatment is not clear till now. The government of India is offering medical visa for those patients who wish to get their medical procedures done in India.

Types of Medical Insurance

• Overseas medical insurance

• Group medical insurance

• Individual medical insurance

Many people along with their family members are opting for medical insurance in India as this insurance covers future medical expenses and other related costs. This is due to the rising demand of medical insurance as these days they also provide a buffer for emergencies. The other major benefit is the low cost of medical treatment in India and excellent quality of the treatment. Some of the other benefits offered by several medical insurance companies include –

• Travel Companion Cost

• Trip Cancellation Coverage

• Hospital/doctor report

• Proof of identity

• Salary slip

• Proof of address

• Memo of expenses incurred

Calculation of Medical Insurance

The total amount of medical insurance depends on the amount of coverage or sum insured, age of the member and also if one is taking a group insurance or an individual insurance. The premium of the medical insurance can be paid on monthly, quarterly, half yearly or yearly basis.

Insurance Programs

There are several types of health care insurance policies that are offered by the medical tourism in India. Many people travel to India for medical procedures and for this a large number of insurance companies now offer cross-border insurance policies for the immigrants.

Insurance Companies Offering Medical Insurance in India

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• HSBC- HealthFirst

• The New India Assurance Company.- Medical Plans

• Bajaj Allianz- Medical Care

• ICICI Lombard-Online Medical Plans

• United India Insurance Company- Mediclaim Policy