Travel insurance and global health insurance, both cover expenses for medical treatments in foreign lands. So, how do you choose between the two?
For this, you must understand the nuances of both these options that offer coverage outside of your home country.
To help you make an informed choice between the two, here is a blog explaining the key differences between global health insurance and travel insurance. Read on to learn more.
What is Global Health Insurance?
This type of health insurance provides coverage for several planned treatments and surgeries in and outside of India. The coverage for the best global health insurance is not limited to covering hospitalisation expenses but extends beyond treatment costs, such as travel and accommodation expenses for companions, etc.
What is Travel Insurance?
Travel insurance is often a mandatory visa requirement to enter various countries during your travel, such as the Schengen countries. This type of insurance offers coverage for medical or accidental emergencies, hospitalisation, as well as travel-related issues, such as loss of luggage, trip cancellation, etc.
Global Health Insurance Plans vs Travel Insurance Plans
To protect yourself and your loved ones while you are away from your home country, choosing worldwide health insurance is essential. The two types of options that commonly appear during your search for health insurance for overseas travel are international travel insurance and global health insurance.
To help you make the most suitable choice for you, here is a detailed explanation of the key differences between the two insurance plans:
| Key Components | Global Health Insurance Plans | Travel Insurance Plans |
| Duration | The health insurance global coverage extends up to the treatment duration of your planned hospitalisation. | The health insurance for overseas travel is for a shorter duration, typically until the short-term trip ends. |
| Coverage | It offers comprehensive coverage which covers
planned treatments and hospitalisations. It may include in-patient treatment, a wide range of treatments, pre- and post-hospitalisation expenses and much more. |
The plan covers many unprecedented emergencies. It may include, personal accident cover, liability cover, financial assistance for lost luggage, trip delay and daily allowance in case of hospitalisation. |
| Who Should Buy It? | Medical insurance international is best suited for those who require specialised treatment from anywhere in the world for illnesses such as cancer, gene therapy, joint replacement, etc. | It is ideal for those who have planned a trip outside of India and have limited coverage requirements. |
| Premium Costs | The global health insurance plan cost depends on the number of members covered, the sum insured and the coverage scope.. | The premium cost depends on the duration of the trip, the number of members covered, the add-ons added to the plan, etc. |
| Treatment Options | Global health insurance coverage is usually for long-term treatment in your preferred country. | This plan covers emergency care, which enables you to travel back to your home country and continue your treatment there. |
Global Health Insurance vs Travel Insurance: A Final Coverage Comparison
Both types of insurance cater to different types of healthcare needs. Global health insurance is ideal for those who require coverage for planned treatments for various illnesses.
In contrast, travel insurance is suitable for those who are planning a work/study trip or a vacation abroad and do not require coverage for treatment of specific and complex treatments.
Thus, depending on your purpose and healthcare needs, choose an insurance that offers best-in-class protection for you and your loved ones.