Health Insurance for Foreigners Residing in India
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Health Insurance for Foreigners Residing in India

January 16, 2019

In India, the liberalization of the country’s economy has made it a great place from an investment perspective. It is also a fact that the inflow of foreign resources is not limited to investment only. Huge numbers of foreigners start sifting to India for several reasons and employment is one of them. Hence, for employment purpose, they have to stay here for a long time that makes a place for a very big question that is -Do foreigners invest in a health insurance or life insurance policy in India. They might be holding in their country but did they bought the same in India as well?

In India, a foreigner can also buy a health insurance policy without any restrictions. Foreigners can invest in any form of the health insurance policy but not life insurance. The reason is that life insurance companies are offering customized insurance product for foreigners to cater to different needs.

Apart from the basic norms, a foreigner who stays in India and wants to invest in a health insurance plans would have to go through the specific eligibility norms associated with health insurance policy before finalizing the purchase.

What are the norms that a person have to be fulfilled to become eligible to invest in a health insurance cover in India

Valid Visa & Permit to Enter and Stay in India

To stay in India and for employment, a foreign must have a valid work permit. If a foreigner is here to learn about the tradition, culture, and heritage of India then he/she must have a valid tourist visa. Completion of visa and associated formalities is important to have an investment in any insurance policy in India.

Mediclaim Coverage Restricted To India

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It is important to understand that by investing in a health plan in India, foreigners will be liable to get the cover within the country only. He/she can not opt it for the treatment in the home country. A travel insurance policy may work during the trips to home country but the mediclaim will take place in India only

Tax Benefits

We all are aware of the fact that in India by investing in a medical insurance plan, the insured become liable to avail tax benefits under Section 80D. Well, the great news is that the foreigners are also liable to avail tax benefits. Income that you earned in India is taxable irrespective of whether the person is an Indian citizen or not. The foreigner can also think of Double Taxation Avoidance Agreements to enjoy advantages of this deduction to reduce the tax liability.

Waiting Period

Health insurance carries a 30 day Waiting Period. Under the same period, the claims can not be filed insurance in the insurance policy. It is done to make sure that people do not invest in health insurance plans on getting diagnosed with any medical issue to transfer the cost of the insurance company. This waiting period applies to the foreigners as well.investinvestinvestinvestinvestinvestinvestinvestinvestinvestinvestinvestinvest

Other Important Points to keep in Mind

There is no doubt in saying that the basic health plan does not cover critical illnesses. You have to buy an additional rider for the same by paying an extra premium. And these norms also goes well with the case of foreigners.

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New age insurance policies such as Family floater plans and Health insurance cum investment plans are also there for foreigners. The Premium that you have to pay for the same will be charged on the basis of individual condition and the chosen sum assured. The nationality of the person does not affect the cost of the plan

It is best to avoid foreign currencies. The person has to make sure that he/she is following all the rules associated with the same.


An investment in a health insurance policy is an important thing that a person should have. Health insurance is a single tool that helps the insured to deal with several medical contingencies and offered a secured future. To invest in the best health insurance policy, a person must use an online insurance web aggregator where he/she can compare health insurance plans online to choose according to their needs.


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