As the name suggests, overseas mediclaim policy is a health
insurance policy which covers you against the risk of hospitalization expenses
in a foreign country. This policy covers medical expenses while the insured is outside India. It covers medical expenses both as inpatient as well as outpatient.
However, you get this type of coverage in the travel insurance policy as well. The hospitalization and medical care expenses in the
western countries are sky-rocketing due to the strict Food and Drug Association
guidelines in these countries. In such a scenario, if a common man falls sick
during his visit to these countries a major chunk of his savings is wiped off.
Therefore, it is common sense to safeguard your savings against such financial
tragedy by purchasing an overseas mediclaim policy. An overseas mediclaim policy not only covers your medical expenses but also protects you against the
loss of baggage, cancellation of flights, loss of passport, and much more.
In
addition, most Insurance Companies offer specialized packages for certain
places like USA, Australia, Schengen region, Middles East and much more. So,
next time you plan a vacation take some time off to research a bit about such
policies it might save you a lot of money.