Travel health insurance v. health insurance that covers overseas medical

My wife and I have been traveling to Europe often in the last few years, sometimes for as long as a month. The only health insurance we have is through our US companies, which say they cover/reimburse expenses incurred in medical emergencies overseas.

This isn’t, I take it, the same as travel health insurance. When the day comes to apply for a D7 visa, I assume showing the consulate our situation with our US health insurance company won’t be sufficient, and we’ll need to purchase bona fide travel health insurance.

Is this something we use until we’ve gotten our visa and then can purchase private Portuguese insurance?