What NRIs Need to Know Before Buying Health Insurance in India

Say you are an NRI visiting your homeland, enjoying time with family, savouring the flavours of Indian food, and exploring the vibrant culture. But amidst all the joy and excitement, there's always a possibility of falling ill or encountering a medical emergency. This is because health issues can catch you off guard, leaving you with unforeseen medical expenses.

As an NRI, you may think that health insurance in India doesn't concern you because you reside abroad. However, that's not entirely true. When you visit India, you may not be covered by the health insurance of your host country. Further, the cost of medical treatment in India can be significantly high depending on the health issue you encounter with during your stay in the country. Hence, it is crucial for everyone, including Non-Resident Indians (NRIs), to have health insurance coverage in India.

In this article, we will delve into the important factors that NRIs need to know before buying health insurance in India.

Why Should You Buy Health Insurance In India?

Life is unpredictable, and none of us can foresee future illnesses or the possibility of developing life-threatening diseases. That's why it is crucial to safeguard your health with a comprehensive health insurance plan in India. Here’s why you should consider buying health insurance in India as an NRI -

Diseases are on the Rise

In today’s world, it is more important than ever to take care of your health by securing a comprehensive health insurance plan. Unhealthy lifestyles, poor eating habits, and pollution have contributed to an increase in the occurrence of various severe health conditions like cancer, diabetes, high blood pressure, stroke, etc. This is why you should have a reliable health insurance plan to safeguard yourself against these potential risks.

Protection Against Medical Expenses

During a medical emergency, you might find yourself having to dip into your savings or investments to cover the costs. However, with a health insurance policy, you can have financial protection that prevents your hard-earned savings from being drained due to medical treatments. Instead of worrying about the financial burden, you can focus on your recovery, knowing that your health insurance will take care of the expenses.

Filing Claims will be more Convenient

If you, unfortunately, fall ill during your visit to India, it would be much more convenient to file health insurance claims with an India-based provider/insurer. Else, with an international Medi-claim plan, you may have to navigate the entire process abroad, which can be complicated, expensive and time-consuming.

Geographical Coverage Limitations

Health insurance policies typically have geographical restrictions on coverage. If you have purchased health insurance in your country of residence, it may not be helpful if you become sick while visiting India. However, with NRI health insurance in India, you can receive insurance coverage anywhere in the country. While the policy is limited to treatments in India as per IRDAI guidelines, some insurance companies in India do provide overseas coverage.

Continuous Coverage for Frequent Travellers

If you are an NRI who frequently travels to India, one way to ensure continuous coverage is by opting for a health insurance policy in the country. This eliminates the need to buy medical insurance every time you plan to visit India.

Meeting Waiting Period Requirements

Waiting periods are a specific duration of time that must pass before certain benefits for treatments and medications can be availed of. Some health insurance policies require you to complete a waiting period before you can make a claim. If you are an NRI planning to permanently reside in India after a few years and/or are a frequent traveller/visitor to India buying health insurance in India is a wise choice to fulfil the waiting period requirements - so you can enjoy the entire benefits of your plan without any hold-ups.

Can NRI Buy Health Insurance in India?

Absolutely! NRIs are individuals born in India but have chosen to reside abroad for better job prospects or personal reasons. They have the option to buy a health insurance plan in India for themselves and their families. To do so, the legal residential status of the NRI is verified first - as per regulations. To prove their Indian citizenship, NRIs simply need to provide the required documents, such as valid address proof and recent income tax returns, among others.

What Is Health Insurance For NRIs In India?

Health insurance for NRI refers to insurance plans tailored for Non-Resident Indians (NRIs), which are based on the legal residential status of individuals who want to be insured during their time in India. These insurance plans are specifically designed to offer medical coverage to NRIs visiting India, whether it's for a long or short duration. With this policy, NRIs can have peace of mind knowing that they are protected and have access to necessary medical services while they are in India.

To Conclude

If you are an NRI looking to purchase a health insurance plan in India, it is crucial for you to understand its key aspects, as it allows you to secure your well-being and financial stability during times of medical need. By doing so, you can take advantage of its benefits such as comprehensive coverage, easy claim settlement, etc. Make sure you invest in the right plan - so you can rest easy knowing that you have taken the right step to safeguard your health and well-being.