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Any unexpected (and unprepared for) medical emergency can put a huge burden on one’s pocket. Treatment costs and other medical facilities don’t come cheap anywhere in the world. This is why Non-Resident Indians or NRIs prefer to buy health insurance in their native homeland, India, to avail health services at a reasonably affordable cost. However, the question arises: Is NRI health insurance even possible in India? Do they stand eligible to buy a policy in their home country upon returning? All these questions and many more answered in the following post
Let’s start with the basic question – can NRI buy health insurance in India? The answer is yes. It is indeed possible for NRIs to secure health insurance plans in their homeland; however there are certain conditions that they must satisfy before proceeding to obtain the insurance.
As stated above, there is a legal provision for medical insurance in India for NRI citizens. There are certain terms attached to this provision though, which are explained below:
If you plan to obtain a health insurance policy in India during your stay in the country, here’s what you’d need to do:
Step 1 – Fill out a form required by the respective insurer that you wish to buy the policy from. Before making your choice, it’s wise to do a thorough research of the top 10 health insurance companies in India and compare each of their policy plans in terms of maximum coverage limit, premium amount, and other terms and conditions for NRIs. This would ensure that you end up buying only the best health insurance in India for NRI citizens.
Step 2 – After duly filling out the form for application, the respective insurance company may ask you to furnish all relevant documents for the procedure. These include copies of your passport, proof of bank account in India, PAN card details, and the like.
Step 3 – The insurance company would then conduct a thorough check of all the furnished details before approving your application. You would then need to make the required payment for the health insurance plan that you intend to purchase. Also note that many insurance companies would only be open to accepting policy payments in Indian currency.
Health insurance is absolutely essential for everybody, whether Indians or NRIs. In case of any unexpected medical emergency, a health insurance plan has your back, saving you from the hassle of paying a large sum from your pocket. Here are some more benefits for NRIs if they opt for getting a health insurance plan in India:
Read More: Important Factors to be Considered by NRIs Before Buying a Life Insurance Policy in India
Now that we know why buying health insurance in India would be a good idea for you, let’s look at the different insurance plans that you can choose from:
To sum up, health insurance is always a wise choice for all – Indian residents or NRIs. Plus, when you can avail benefits too, it only makes sense to look for the best health insurance plan in India and go ahead with obtaining it so you can enjoy a tension-free stay with your family when in your homeland.
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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