Health Insurance for NRI in India

With time, health insurance in India has undergone a massive transition owing to the income increase, awareness around health among different classes, increased efficiency in bureaucracy, and more. Overall, health insurance is an expanding insurance category after motor and life insurance.

This write-up sheds light on the health insurance scenario in India. Once done catering to this segment, we will dive into health insurance for NRI in India. Read on to know more!

Types of Health Insurance Products Available in India

Health insurance plans in India are broadly categorised into 6 major products -

• Individual Health Insurance - This is a personal health insurance plan that covers the insured individual’s medical expenses in case of an accidental injury or illness. The cost benefits offered include hospitalisation, room rent, surgical charges, childcare treatment, and more. The sum insured limit is set for covered members. 
• Family Floater Health Insurance Plans - The entire family is covered under this type of health insurance plan. In other words, instead of buying separate plans for every family member, the entire family gets covered under just one plan. The sum insured is applicable to all family members. 

This type of plan reduces the hassle of managing different plans. Furthermore, the premium is usually lower than that of individual health insurance plans. 

• Group Health Insurance Plans - This type of health insurance in India is specially designed for corporates who plan to insure their employees. A group health insurance plan offers coverage to the employees as per their entry and exit from the company. 

Since the risk involved in such plans is low, the premium rate, too, is low. This type of health insurance in India not only offers medical coverage to employees but also improves the company’s goodwill. 

• Senior Citizen Health Insurance - This type of health insurance in India is designed for senior adults who are over the age of 60 years. Though only a few health insurance companies offer such plans, they might ask for a thorough medical check-up before approving the application. 
• Critical Illness Insurance - A Critical Illness Insurance plan provides coverage to individuals by granting a lump sum payment in the event of life-threatening ailments. This type of insurance becomes particularly valuable when the policyholder has a familial background of specific critical illnesses.

The predetermined sum assured is given without regard to expenses incurred before or after hospitalisation. This insurance plan safeguards against severe diseases like heart attacks, kidney disorders, paralysis, cancer, and more.

• Maternity Health Insurance - These health insurance plans are designed specifically for women. They offer coverage for all the costs associated with the prenatal phase as well as expenses related to delivery and the postnatal period.

These plans cover both the mother and the newborn, addressing childbirth expenses (including medically required terminations), infertility costs, and providing coverage for the infant for the initial 90 days since birth.

Ways to File a Health Insurance Claim in India

Discussed below are the two ways that an insured can file a health insurance claim in India -

• Cashless Claim - In India, most health insurance companies have a comprehensive network of hospitals through which they facilitate cashless treatment or the facility of direct billing. Under this method for insurance claims, if an insured individual gets hospitalised in any of the network hospitals, the said person or their attendee would simply need to submit their insurance card at the billing desk. However, it must be noted that the limit of cashless claims is subject to the approval of the insurance company.
• Reimbursement Claim - In case the insured individual is hospitalised in a hospital that is not present in the network list, they would need to make the payments out-of-the-pocket. Once they are discharged, they can file a claim for reimbursement with the health insurance company. 

Benefits of Health Insurance in India

Over time, India has become a hub for medical treatments. Due to this, health insurance in India is an important coverage for everyone including the Non-Resident Indians (NRIs). Here are some benefits of health insurance in India -

• Hospitalisation Costs Covered - With a health insurance plan, the insurance company covers the medical expenses on behalf of the policyholders. It proves advantageous for patients as they are not required to make any out-of-pocket payments. This coverage eases the patient's mental burden and allows them to focus on their recovery.
• Financial Coverage for Treating Life - Threatening Critical Ailments - Medical insurance policies with fixed, predefined benefits offer a lump-sum payment upon diagnosis and verification of specific critical illnesses such as cancer, stroke, paralysis, kidney failure, and so on. Regardless of the actual expenses incurred by the insured, they receive the lump-sum amount which can be used for rehabilitation, lifestyle adjustments, and more.
• Access Additional Perks - Some innovative insurance companies provide benefits not commonly associated with health insurance policies. A few examples of such benefits include - 
• Consultations with nutritionists
• Complimentary health check-ups
• Collaborations with healthcare service providers
• Free consultations with doctors
• Discount coupons for healthcare services

Can NRIs Buy Health Insurance in India?

Non-resident Indians can buy health insurance in India for themselves and their families. To avail of NRI health insurance plans, they need to provide proof of their Indian citizenship, address proof or recent ITR, and more. If a Person of Indian Origin (i.e., PIO) plans to buy an NRI health insurance plan, they would need to provide their passport.

This type of health insurance plan in India is suitable for NRIs who plan to return to the country permanently within 3 to 4 years.

Top Health Insurance NRI Plans

One of the top NRI health insurance plans is the NRI Care Health Plan, introduced by Dubai Insurance Company (DIN) and exclusively available on Policybazaar.ae. This health insurance plan in India is designed for NRIs looking for comprehensive health coverage in the host country and native country.

Here are the benefits that you can avail of with this NRI health insurance plan -

• No-claim Bonus - Up to 10% increase in health insurance coverage under no-claim bonus. Note that the insured can accumulate up to 50% of the sum insured this way in a year. 
• Automatic Recharge - This policy feature recharges the sum insured once every policy year after the insured files a claim. However, this feature is subject to terms and conditions.
• Annual Health Check-up at Network Hospitals
• Cashless In-patient Treatment in India
• Portability Benefit - With Care NRI Health Plan, if the insured individual plans to return to India after 4 years of continuous medical coverage in the UAE, they can port the benefits to any available Care Health Insurance product.

This NRI health insurance plan enables individuals to live their lives to the fullest with its innovative features and benefits like cashless services and rewards for maintaining good health. 

Reasons NRIs Prefer to Buy Health Insurance in India

Detailed below are the reasons why non-resident Indians prefer to buy health insurance in India -

• Medical Coverage in India - Health insurance policies frequently incorporate geographical limitations in most cases. In situations where an individual possesses an existing health insurance policy within their country of residence, like the UAE in this case, the said policy could offer minimal or no coverage beyond its geographical confines.

Nonetheless, when purchasing a health insurance plan in India, NRIs get unrestricted geographical coverage which enables them to access insurance benefits across the entire country.

• Appropriate Coverage - As an NRI, one may find themselves susceptible to specific health problems during their visits to India. Instances of health concerns could include flu-related complications or stomach ailments.

The acquisition of a health insurance plan within India presents the opportunity to access comprehensive coverage tailored to their specific needs.

• Smooth Claim Settlement Process - If individuals encounter medical problems that require a claim, resolving the matter with an insurance provider based in India is expected to be smoother than dealing with another insurer.

This is especially the case if their coverage pertains to India. For instance, when dealing with an India-based insurer, the insured has the option to conveniently access cashless claims since these insurers maintain partnerships with numerous hospitals. Consequently, the procedure is anticipated to be free of complications. 

• The Advantage of Waiting Period - Certain health insurance policies require individuals to fulfil a waiting period prior to being eligible to file a claim. This stipulation commonly applies to pre-existing conditions present at the time of purchasing the policy.

For non-resident Indians (NRIs) intending to reestablish permanent residency in India after a span of years, procuring a health insurance policy as early as possible can prove advantageous to satisfy the waiting period prerequisite. This approach ensures that upon repatriation to India, the individual's waiting period obligation will have already been fulfilled.

• Continuous Coverage - If an individual is a Non-Resident Indian (NRI) who travels to India on a regular basis, selecting a health insurance scheme within the nation will provide them with uninterrupted coverage throughout the duration of the policy. 

As an example, when a policy is purchased for a span of two years, there is no need to be concerned about procuring insurance each time a visit to India is made within that two-year timeframe.

Guidelines for Purchasing NRI Health Insurance in India

The set of rules recognised under the Foreign Exchange Management Act (FEMA) lays out the provisions regarding insurance policies acquired domestically and internationally.

As per these regulations, an individual residing in India has the option to retain any insurance policy issued by a foreign insurance firm, given that they have procured advance authorisation from the relevant Indian authority during the policy's issuance.

As far as the settlement of claims is concerned, the sum insured amount can be transferred to the individual's overseas bank account or their authorised foreign currency account held by a recognised bank.

Terms and Conditions Applied to NRI Health Insurance in India

Discussed below are the specific terms and conditions applicable to health insurance for NRIs in India -

• Geographical Limit - A majority of the NRI health insurance plans offer medical coverage only in India. Even if coverage is provided overseas, it is restricted to emergency medical expenses and treatment for life-threatening medical conditions. Additionally, this coverage might have a high in-built co-payment. Thus, NRIs should read the policy underwriting carefully.
• Limited Coverage - Health insurance companies in India typically provide NRIs with a restricted total coverage amount. This practice stems from regarding NRIs as higher-risk candidates due to their non-residential status in India. The assessment of their credibility poses a challenge for insurers because of their lack of presence within the country.

Consequently, health insurance options extended to NRIs feature a capped sum insured and might omit certain advantages such as proactive health check-ups.

Things to Consider Before Buying NRI Health Insurance

Keep a few things in mind before buying an NRI health insurance plan in India -

• If an NRI Returns to India after more than 3 to 4 Years - In such a case, it is not the right time to purchase an NRI health insurance plan in India. It is rather advisable for the NRI to buy a plan in the country of residence.
• If an NRI Returns to India in less than 3 to 4 Years - Besides having comprehensive health insurance overseas, it is advised to have a health insurance plan in India as well. Such a plan will benefit the NRI as most exclusions like the waiting period for a pre-existing medical condition will be over by then and they will be able to file a full claim under the health insurance policy. 
• If an NRI is Moving Abroad but Has a Health Insurance Plan in India - When an individual is relocating to a foreign country for a brief and uncertain duration spanning 1-2 years, while harbouring a definite intention to return to India, maintaining the existing Indian health insurance policy becomes a logical choice.

This decision should be coupled with the acquisition of a new policy within their country of residence, tailored to cover the duration of their stay.

Nonetheless, if one's overseas stay is projected to be significantly long-term and the person holds a reasonable level of certainty regarding this period, it becomes impractical to persist with their Indian insurance policy. This is due to the policy's geographical limitations, which renders it mostly ineffective and an avoidable financial burden.

How to Buy Health Insurance for NRI via Policybazaar.ae?

The best and the most convenient way to buy an NRI health insurance plan in the UAE is via Policybazaar.ae. This is a third-party aggregator that hosts a plethora of health insurance plans catering to the requirements of expatriates living in the UAE.

To apply for an NRI health insurance plan, simply follow the steps stated below -

• Visit Policybazaar.ae’s website and click on the ‘Health Insurance’ icon on the home page. You can choose the option from the ‘Insurance Products’ tab present on the menu bar as well. 
• Once you make the selection, you will be directed to a lead form. Fill it out accurately so that you can get plans that meet your requirements. 
• Once done, click on the ‘View Plan’ button. You will be navigated to our health insurance quotes page. Here, you can browse through the available options. Once you make a selection, proceed by choosing the option to apply against the plan. Follow the instructions thereon.

To know more about health insurance in India and NRI health insurance, go through the following FAQ section.

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