Q. I am a 35-year-old mother. My child has a pre-existing health condition for which he needs medical treatment abroad. I want to purchase a suitable insurance policy that will provide the best coverage. Please advise.
Given your child’s condition, it is very important that you buy the most appropriate policy for him. Please consider the following factors.
Coverage for pre-existing conditions: Many insurance policies exclude coverage for pre-existing conditions or provide limited coverage for these conditions. However, some policies may offer comprehensive coverage for pre-existing conditions, including medical treatment abroad. Be sure to carefully review the policy to ensure that it covers your needs.
Network of healthcare providers: Verify that the policy network includes healthcare providers in the country where your child will be receiving treatment. If not, you may need to pay for medical care.
Cost: While a comprehensive policy that covers pre-existing conditions and medical treatment abroad may offer the best coverage for your child, it may also be more expensive. You'll need to consider your family's financial situation and choose a policy that provides the best coverage at a cost you can afford.
Disease-specific plans: There are several plans available in the market that are specific to certain diseases like diabetes, hypertension, cancer, etc. If there is a plan that is specific to your child’s disease, you should consider that first.
Coverage for medical treatment abroad: Look for policies that include coverage for hospitalisation, surgery, diagnostic tests, and emergency medical evacuation in the country you have in mind. Ensure that your child will have access to high-quality medical care in that country.
You may want to consult your financial advisor, or an insurance intermediary certified by the Insurance Regulatory and Development Authority of India (IRDA). This professional will be able to help you choose the best policy for your needs.
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