Although exciting, moving abroad requires careful planning and consideration, particularly about your finances. Choosing whether to keep your health insurance in India is one of the most important financial decisions you’ll have to make when moving abroad. Your length of stay, your current state of health, and the options for health insurance in your new country are just a few things to consider.
Before continuing or discontinuing health insurance coverage, there are many things to consider. It’s a good idea to cancel your policy if you’re moving to another nation and will return to India for a while. Basic health insurance in India only pays for in-country emergencies; it does not cover travel-related medical costs.
Keeping your health insurance policy is better if you intend to return to India in a few months or years. Alternatively, you can buy international health insurance in India and travel worry-free. If you want to stay abroad for an extended period, you should take advantage of the higher-priced overseas health coverage offered by several insurance companies.
The location of the insured and any potential medical emergencies must be taken into consideration when designing the majority of health insurance plans in India. These elements are taken into consideration when adjusting the plans and premiums. Your health insurance policy will only cover you if you move or travel outside of India if it is expressly stated in the contract.
Everyone today needs health insurance in case of a medical emergency. The unpredictable nature of medical emergencies makes it essential always to be covered.
It makes no sense to pay the premium if you are moving abroad permanently or for an extended period if your health insurance policy only covers you while you are in India.
You won’t be able to submit a claim, so paying the premium is useless. It is preferable to cancel your Indian insurance policy and buy one in your new country to cover medical costs.
However, it is preferable to keep your Indian health insurance with no claim bonus if you will only be travelling for a short time and intend to return. The pros and cons of owning your policy versus switching to a new plan in your new country must be carefully considered.
When moving abroad, there are several considerations to make before deciding whether to keep or cancel your Indian health insurance policy. Consider your stay, health insurance options, and the costs of keeping your Indian policy versus getting a new one when in a new country. Always put your health first and make sure you have enough insurance to cover any unexpected medical expenses.
Ensure you carry out the process for Bajaj Allianz health insurance renewal on time.
When considering whether to keep your health insurance in India if you’re moving abroad, it is crucial to evaluate various factors. Some may keep Indian insurance for visits or returns, but getting local coverage is usually better.
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