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Travel Insurance Vs. International Health Insurance

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Going to a foreign country is most likely on everyone’s to-do list. However, some go there for a brief period, for instance, to enjoy a well-deserved vacation. Then there are those who live abroad. So, from a health insurance perspective, do you think both tourists and expatriates should buy similar plans? The answer is no. While the former should get travel insurance, those staying in a foreign country must get international health insurance . Let’s explore the differences between these two plans before you pack your bags and board your flight.

What is Travel Insurance?

Travel insurance protects you financially against unforeseen circumstances during your trip. It covers the risks and expenses associated with travel, such as trip delay/cancellation, baggage loss, delay in checked-in baggage, loss of Passport, and medical emergencies. If you have travel insurance, you will be compensated for losses incurred in case of any unfortunate event during your international or domestic trip.

Travel insurance is of 2 types — single and multi-trip. Single-trip insurance is meant for a lone trip; it starts from the day you board the flight and ends on your return home or at the end of the policy tenure, whichever is earlier. It provides coverage for up to 180 days. If you cover multiple destinations in a single trip, it will still be considered as one trip.

Multi-trip or annual travel insurance covers you for one year, and you can make as many trips during the tenure under the same plan. However, there may be a limitation on the duration of trips. It is beneficial for frequent travellers.

What is International Health Insurance?

International health insurance ensures you are not left in the lurch in case of any untoward incidents during your trip. It will provide financial protection to you and your family members against any medical adversities that may come your way, causing emotional and financial stress. So, as soon as you plan a trip abroad, secure yourself and your loved ones with international health insurance for a safe and fun-filled journey.

Difference between International Health Insurance and Travel Insurance

1. International health insurance provides coverage to individuals and families living abroad permanently or for a longer duration. In contrast, travel insurance is meant for short-term journeys, i.e., business trips or vacations.

2. International health insurance provides comprehensive coverage, including inpatient hospitalisation, routine check-ups, daycare procedures, pre-existing diseases coverage, etc. This is in addition to emergency care.

Travel insurance, on the other hand, has limited coverage. It covers only the risks you face during the trip, i.e., flight delays/cancellations, loss of Passport and personal belongings, delay in the arrival of your checked-in baggage and medical emergencies.

3. Travel insurance only covers medical emergencies in a different country and flies you back home to continue the treatment once you become fit enough to endure the journey. The insured can choose any country for long-term medical care and treatment with international health insurance.

You can stay in that country till the treatment is complete if you have international health insurance.

4. Due to the comprehensive coverage offered by foreign health insurance, international health insurance is costlier than travel insurance.

Conclusion

Travel and expat health insurance plans are designed to give you a sense of security in a foreign land. Which one to choose depends largely on the purpose of your travel, duration, the type of coverage you require, affordability, etc. Both international health insurance and travel insurance plans can also be customised to meet your specific needs. So, make sure you buy the right plan that will give you peace of mind in case of any unfortunate events.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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