എൻആർഐകൾക്കുള്ള ഹെൽത്ത് ഇൻഷുറൻസിനെക്കുറിച്ച് നിങ്ങൾ അറിയേണ്ട

NRIs, or Non-Resident Indians, are Indian citizens residing abroad for business, employment, or other purposes. Even though they may reside in another country, NRIs can carry out several financial and legal transactions in India, including buying a health insurance policy. Whether you are an NRI or a resident Indian, you should be financially prepared for unexpected situations.

By selecting the right health insurance plans with comprehensive coverage, premiums, and cashless treatment facilities, NRIs can manage the rising costs of healthcare, ensuring financial security for their family members in India.

Can NRIs Buy Health Insurance in India?

Absolutely, Non-Resident Indians (NRIs) can buy health insurance in India for themselves and their family members. To do so, they need to provide certain documents, such as proof of Indian citizenship (e.g., valid address proof, recent Income Tax Returns). Persons of Indian Origin (PIOs) are required to submit their passports when purchasing health insurance in India.

In line with IRDAI guidelines, the health insurance sector has been experiencing rapid growth in recent years due to rising healthcare costs and medical concerns. For instance, an NRI planning to return to India within a few years from the UAE can purchase health insurance early and complete the waiting periods before relocating to India permanently.

What is Health Insurance for NRIs in India?

NRI health insurance in India is an insurance policy that provides financial coverage against rising medical costs. These plans include hospitalisation, surgeries, day care treatment, NRIs and dependent family members' healthcare expenses in India. There are many cashless treatment options available at network hospitals, as well.

The health insurance industry witnessed more than 9% growth in premiums, surpassing the ₹1.2 lakh crore mark for FY 2024-25, as reported by The Economic Times. This marks the increased awareness among individuals regarding medical coverage. Health Insurance for NRIs is a valuable tool for ensuring access to quality medical care during emergencies and for managing the rising costs of healthcare in India.

What are the Foreign Exchange Management Act (FEMA) Regulations on Health Insurance for NRIs?

Under the Foreign Exchange Management Act (FEMA), NRIs are allowed to insure their health in India through authorised banking channels. Payments are normally made using NRE, NRO, or FCNR bank accounts, as per RBI guidelines.

The regulations also govern claim settlement and repatriation rules of insurance policies, as well as fund transfers, all under FEMA guidance. As per RBI guidelines, any amount up to USD 1 million can be repatriated from an NRO account each financial year under certain circumstances.

 NRIs will also have to update their residential status with insurers and banks to comply with FEMA norms and prevent penalties for misuse of accounts or incorrect information.

ഒപ്പം വായിക്കുക: Things to Check Before Buying Health Insurance

Why NRIs Should Buy Health Insurance in India?

Here are some key reasons why NRIs should consider purchasing health insurance in India:

1.Medical Coverage During Visit to India

If an NRI has health insurance in their country of residence (e.g., the UK), it typically won’t cover medical expenses in India, as most foreign policies have geographical restrictions. By purchasing an NRI-specific health insurance policy for use in India, you can cover medical expenses incurred during visits.

2. Adequate Coverage

Certain health issues, like stomach ailments and flu, are more common for NRIs visiting India. A health insurance policy purchased abroad may not cover these specific conditions while in India. However, an NRI health insurance policy in India ensures these expenses are fully covered.

3. ക്യാഷ്‌ലെസ് ചികിത്സാ സൗകര്യം

Many insurers offer access to cashless hospital networks across the country. With this feature, NRIs and their families can receive comprehensive treatment without paying a lump sum during medical emergencies.

4. താങ്ങാനാവുന്ന പ്രീമിയം

Health insurance premiums in India are generally much lower compared to those in other countries. This is because healthcare costs in India are far more affordable, which makes Indian health insurance plans a cost-effective option for NRIs.

5. Hassle-free Claim Settlement

Filing claims with Indian-based insurers is typically smoother and more efficient than dealing with foreign insurers. With an Indian health insurance policy, you can easily access cashless treatment facilities, especially when visiting India. Foreign insurance policies may involve a more complicated and time-consuming claims process.

6. Advantage on Waiting Periods

Many health insurance policies in India have waiting periods, especially for pre-existing conditions, which can range from 2 to 4 years. If NRIs buy an Indian health insurance policy in advance, they can complete the waiting period before relocating to India, ensuring coverage as soon as they move back.

7. Coverage for Family Members in India

NRIs often buy a health insurance plan to protect their parents, dependent members or spouses residing in India. In such a case, choosing a family health insurance plan is beneficial for managing rising healthcare expenses under a single plan.

How to Buy Health Insurance for NRIs in India?

NRIs are eligible to buy health insurance in India through various online platforms or by approaching insurance companies or insurance brokers. Here is the detailed guide:

1. Research Plan: Compare health insurance plans available online from insurers in India. Consider the factors such as premiums, coverage, and the presence of network hospitals.

2. Documentation: Keep the necessary documents ready, including your address, proof of identity, and income, as required by the insurance provider.

3. Fill Application Form: Filling out the application form is mandatory, and you must provide detailed information about yourself and any other family members to be included under the policy.

4. Make Payment: Pay the premium for the chosen health insurance plan via the prescribed channel, as per FEMA guidelines, such as NRE/NRO accounts.

5. Policy Issuance: After your application form is approved and the premium is paid, the insurer issues the health insurance policy with the relevant coverage details.

ഒപ്പം വായിക്കുക: Coverage for Orthopedic Surgery in Health Insurance

Key Factors to Consider While Purchasing Health Insurance as an NRI

You might be wondering: How to choose the right health insurance plan as an NRI? Here are the factors to consider:

Limitations of Geographical Coverage

The health insurance plans purchased in India offer adequate coverage for treatments in India. Unless specifically mentioned in the policy terms and conditions, international treatments taking place in the UK, USA, Canada, or Singapore will not be covered.

Normally, the medical costs in foreign countries are much higher. Hence, NRIs should review the policy coverage area before purchasing a plan.

Specialised Treatments Coverage

Advanced medical infrastructure is not available in India, for which some insurers offer cover for specialised treatment at overseas hospitals. The benefits, however, would only be available if the insurer's guidelines are followed. Make sure to review these details before finalising the purchase.

Protection for Family Members in India

A family floater health insurance plan financially safeguards the parents, spouse, and dependent children living in India under a single policy. This is particularly useful for NRIs who often travel or stay abroad for extended periods.

Benefits of Waiting Periods

Purchasing health insurance for NRIs in India, residents can fill up the waiting periods for any pre-existing diseases while residing abroad. The waiting period usually ranges between 1 and 4 years.

For instance, if you are an NRI and have been working in Australia for 3 years, you can fulfil the waiting period and settle permanently in India.

സെക്ഷൻ 80ഡി പ്രകാരമുള്ള നികുതി ആനുകൂല്യങ്ങൾ

NRIs filing taxable income in India can claim deductions for health insurance premiums under Section 80D of the Income Tax Act, 1961. Under the old regime, individuals aged 60 or less were eligible for deductions up to ₹25,000, whereas senior citizens were eligible for deductions up to ₹50,000.

According to the Income Tax Department, these deductions legally enable taxpayers to reduce their overall taxable income.

Review Network Hospitals and Claim Process

NRIs must check the complete list of network hospitals, cashless treatment facilities and claims settlement procedure before purchasing an insurance policy. During medical emergencies in India, a wider network of hospitals, coupled with easy claims processing, can be helpful.

Still looking for a suitable health insurance plan for NRIs?

Visit Bajaj General Insurance today and choose the right plan designed for NRIs, keeping you financially protected during medical emergencies in India.

ഒപ്പം വായിക്കുക: ഹെൽത്ത് ഇൻഷുറൻസിലെ റൈഡറും ആഡ്-ഓൺ പരിരക്ഷകളും തമ്മിലുള്ള വ്യത്യാസം

ഉപസംഹാരം

Before finalising health insurance as an NRI, check whether it covers hospitalisation expenses, offers tax benefits, provides cashless treatment, and provides financial security. Alongside, understanding waiting periods, geographical limits, policy terms, and claim procedures is equally important. Compare plans online and choose an affordable plan to achieve long-term financial stability and peace of mind.

പതിവ് ചോദ്യങ്ങള്‍

Can NRIs Get Indian Health Insurance?

Yes, NRIs can purchase health insurance policies in India. Several Indian insurance providers offer plans specifically tailored for NRIs, enabling them to secure coverage for medical expenses during their visits to India.

What are the Benefits for NRIs in India?

NRIs can benefit from affordable premiums, tax savings under Section 80D of the Income Tax Act, access to a wide network of hospitals in India, and customised health plans for short-term or long-term stays.

Is Indian Health Insurance Valid Abroad?

Most Indian health insurance policies cover medical expenses only within India. However, some insurers offer international coverage or travel insurance plans for global health emergencies.

Can NRIs Get Indian Health Insurance?

Yes, NRIs can avail of health insurance plans in India provided they meet the insurer’s terms. The plans are beneficial for medical treatment during their visits to India.

What Is a Good Medical Insurance in India for NRIs?

A good medical insurance plan for NRIs offers a wide hospital network, cashless treatments, low premiums, and options for top-up or family floater policies. Plans like Star Health, ICICI Lombard, and HDFC ERGO are popular choices.

When Should NRIs Avoid Buying Health Insurance in India?

NRIs should reconsider buying Indian health insurance if they rarely visit India, already have adequate international coverage, or face challenges in availing tax benefits due to non-resident status.

* സാധാരണ ടി&സി ബാധകം. ** ടാക്സ് ബെനിഫിറ്റുകൾ നിലവിലുള്ള ടാക്സ് നിയമങ്ങളിലെ മാറ്റത്തിന് വിധേയമാണ്. ഇൻഷുറൻസ് പ്രേരണാ വിഷയമാണ്. ആനുകൂല്യങ്ങൾ, ഒഴിവാക്കലുകൾ, പരിധികൾ, നിബന്ധനകൾ, വ്യവസ്ഥകൾ എന്നിവയെക്കുറിച്ചുള്ള കൂടുതൽ വിവരങ്ങൾക്ക്, വിൽപ്പന പൂർത്തിയാക്കുന്നതിന് മുമ്പ് ദയവായി സെയിൽസ് ബ്രോഷർ/പോളിസി നിബന്ധനകൾ ശ്രദ്ധാപൂർവ്വം വായിക്കുക.

നിരാകരണം: ഈ പേജിലെ ഉള്ളടക്കം പൊതുവായതും വിവരദായകവും വിശദീകരണവുമായ ആവശ്യങ്ങൾക്കായി മാത്രം പങ്കിടുന്നതുമാണ്. ഇത് ഇൻ്റർനെറ്റിലെ നിരവധി സെക്കന്‍ററി സ്രോതസ്സുകളെ അടിസ്ഥാനമാക്കിയുള്ളതും മാറ്റങ്ങൾക്ക് വിധേയവുമാണ്. ബന്ധപ്പെട്ട തീരുമാനങ്ങൾ എടുക്കുന്നതിന് മുമ്പ് ദയവായി ഒരു വിദഗ്ധനെ ബന്ധപ്പെടുക.

ഇൻഷുറൻസ് പ്രേരണാ വിഷയമാണ്. ആനുകൂല്യങ്ങൾ, ഒഴിവാക്കലുകൾ, പരിധികൾ, നിബന്ധനകൾ, വ്യവസ്ഥകൾ എന്നിവയെക്കുറിച്ചുള്ള കൂടുതൽ വിവരങ്ങൾക്ക്, വിൽപ്പന പൂർത്തിയാക്കുന്നതിന് മുമ്പ് ദയവായി സെയിൽസ് ബ്രോഷർ/പോളിസി നിബന്ധനകൾ ശ്രദ്ധാപൂർവ്വം വായിക്കുക.