New India Assurance Company has launched a global mediclaim policy that will offer lifelong cover for global hospitalisation expenses including cancer, neurosurgery, heart surgery, organ transplant, and bone marrow transplant in hospitals outside India.
The plan offers hospitalisation coverage in Asian countries as well as other parts of the globe. The Asian countries medical coverage plan offers a lifetime cover of USD 1 million and the worldwide lifetime coverage insures an individual for USD 2 million. The policy covers an entire gamut of services like medical second opinion for the covered illness of the insured to the expenses like travel, accommodation, and treatment in a foreign land.
Depending on the age of the insured and their medical history, the premium could also be loaded between 25 percent to 100 percent. For a 30-year-old individual, the premium without loading is Rs 9,003 per annum for Asian countries) and Rs 11,453 per annum for other countries outside Asia.
While pre-existing conditions are not covered, there is a 90-day waiting period only after which will a claim be paid. Also, any medical expenses like chemotherapy incurred in India will not be payable under this policy. The policy will also pay airport pick-ups as well as repatriation of mortal remains of the insured up to USD 15,000 per insured. This is a fully cashless policy and a second medical opinion will be taken before an insured is given a policy to avail of treatment abroad.