The generation of wealth, the advancement of one's profession, and exposure to better possibilities are among the common motives for India's approximately 25 million annual migration abroad. NRIs cannot afford to overlook health insurance, which is the most important aspect of financial stability, when building their future.
Families may quickly find themselves in financial difficulty due to the sharp increase in medical emergency and healthcare prices worldwide. This is especially relevant to non-resident Indians (NRIs) and acts as a crucial safety net for their relatives back home, particularly their elderly parents. Not to mention, going without health insurance could put them in a financial bind if they needed medical assistance while in India.
The recent establishment of tax refunds is a good step towards improving affordability, even though the insurance industry has made significant advances towards making health insurance more accessible and inexpensive for NRIs. Now, NRIs can take advantage of tax laws to lower the cost of Indian health insurance. When acquiring an Indian Health Insurance plan, non-resident Indians (NRIs) are eligible for an 18% GST refund since they have previously fulfilled their tax duties in their home country.
