Wealthy Indians shop for overseas health covers

Two Indian companies offer covers ranging from Rs 15 lakh to Rs 6 crore

N Sundaresha Subramnian & Sanjay Kumar Singh  |  New Delhi 

Quality conscious high net worth individuals are looking for generous health insurance covers that would cover treatments in destinations such as Singapore and the US. Their interest in such products offered by foreign and local insurance players was sparked in the wake of high-end stent-makers pulling out of the Indian markets, after price caps were imposed by the authorities. "People with money who do not want to take a chance with something they have to live with for several years are looking to get these procedures done in places like Singapore and the US," said a ...

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Wealthy Indians shop for overseas health covers

Two Indian companies offer covers ranging from Rs 15 lakh to Rs 6 crore

Quality conscious high net worth individuals are looking for generous health insurance covers that would cover treatments in destinations such as Singapore and the US.Their interest in such products offered by foreign and local insurance players was sparked in the wake of high-end stent-makers pulling out of the Indian markets, after price caps were imposed by the authorities."People with money who do not want to take a chance with something they have to live with for several years are looking to get these procedures done in places like Singapore and the US," said a senior executive with one of the corporate hospitals. "A procedure that could have been done in Rs 5 lakh here might now cost double or triple. So, they are looking for health insurance products that would cover these."For example, after the cap, the prices of Abbott's Absorb, which cost ~1.9 lakh each earlier, were slashed to ~29,600. But the manufacturers are not ready to supply at these prices. Last week alone, several . Quality conscious high net worth individuals are looking for generous health insurance covers that would cover treatments in destinations such as Singapore and the US. Their interest in such products offered by foreign and local insurance players was sparked in the wake of high-end stent-makers pulling out of the Indian markets, after price caps were imposed by the authorities. "People with money who do not want to take a chance with something they have to live with for several years are looking to get these procedures done in places like Singapore and the US," said a ... image
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