In some countries medical insurance can be arranged through selected private hospitals, these plans will cover hospital treatment. You have to be in the vicinity of the hospital through which you have bought insurance either that, or pay the charges yourself or make travel arrangements to get back to the hospital.
When you plan to travel overseas after retirement there are two options open to you - an international medical insurance cover or an in-country medical insurance.
An in-country policy is a good option when one is younger than 63 years old and has no pre-existing illnesses and you plan to travel only within the country. This insurance is not valid if you travel outside the country. When you plan to stay in a particular country the insurance is less expensive and more basic compared to an international health insurance.
An international medical insurance policy taken from a reliable agency with a good track record is the safest option for health insurance. These policies provide comprehensive coverage and suitable medical care. The reputed insurance companies have a network of hospitals and doctors worldwide.
Travel insurance is a good option for those who plan to stay abroad for short spells. An advantage of buying this insurance is that they cover personal belongs along with healthcare.
Do not use travel insurance for anything other than a vacation or a short-term stay. Routine medical care is not covered.
Hannah Punitha (IRDA Licence Number: 2710062)
Kathleen Peddicord, May 2014