If you are planning to buy an International Health insurance plan, there are so many factors to consider, but for now, let’s look at one of its aspects, how these products are structured. Essentially you will find 2 kinds of health insurance products, and that is the packaged and the add-on policies. Here are their definitions:
These are products that are pre-designed for its takers. These do not offer any kind of optional benefits that can be added on to the basic policy. Normally, they would have a little bit of everything in terms of coverage but largely are focused on hospitalization benefits since that’s what forms the basis of most health insurance policies. Having said this, there are many international health policies that do offer comprehensive health insurance benefits and all you need to do is find one that matches your requirements.
These are essentially flexible benefit plans that have developed gradually from conventional insurance products which went for one size fits all kind of a concept. Add-on policies offer the potential buyer of the product to select a coverage with the option of adding benefits to the core benefit plan. What this does is that it allows people to buy products that are more suited to their needs.
How does this work in an international health insurance plan?
All you need to do is just find a basic plan that has hospitalization benefits and these optional benefits can be added to it, such as outpatient, maternity, dental, optical, wellness benefits etc. Metaphorically speaking it’s much like making a sandwich, you have your basics like bread and say a beef patty but adding cheese, sauce, and veggies to it is what completes it and make it better.
Is there a need to decide between the two structures of international insurance plans?
Not really! It’s quite possible for you to find a suitable policy under a packaged policy design and if not, there are always flexible policies that will allow you to design your very own health insurance policy. And we here at Insurance Market gives you all these options on our platform.