Monday, June 21, 2021

TRAVEL INSURANCE

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Travel insurance protects the costs and damages of travel in India and abroad. This includes financial loss from many unexpected incidents such as robbery, death, medical emergencies, baggage loss, delay in the flight, and so on.

TYPES OF INSURANCE

Travel insurance can be put under different categories. You can choose it according to your need and requirement. Following are the types of travel insurance you can purchase while traveling:

  • Student Travel Insurance: The travel insurance plan offers medical and financial support to students visiting abroad. It covers unexpected medical and financial emergencies faced during their stay by students in a new country. It can be used by a student who already is studying abroad or by a student who wants to study abroad.
  • Domestic Travel Insurance: You can take advantage of domestic travel insurance if you travel anywhere in India. Under this arrangement, you can get medical and financial assistance, luggage loss, delay and cancellation for medical emergencies, etc.
  • Family Travel Insurance: All direct family members of a policyholder can buy Family Travel Insurance. The program includes adventitious expenses, hospital benefits, and luggage loss.
  • Senior Citizen Travel Insurance: It is a detailed strategy to make your travel a fun experience for people aged 61 – 70. It offers coverage for healthcare, pre-existing conditions, and emergency services.
  • Group Travel Insurance: You can purchase the travel insurance package in a group of 20 or more individuals. It includes travel cancellation, loss or disruption to luggage, medical evacuation, and journey delays.
  • International Travel Insurance: This form of insurance is used during journeys outside of India. This is further broken down into various forms for various regions and countries. For example, a Middle East travel insurance would vary from the insurance needed to travel to the United States. The 2 common types of international travel insurance are:
  1. Schengen Travel Insurance: It is mandatory to buy Schengen travel insurance if you are traveling to 26 countries under the  Schengen countries like Austria, Denmark, Czech Republic, Finland, France, Poland, Germany, etc. The policy covers medical emergency services, 24/7 assistance, accident or injury coverage, death and disability cover, repatriation, etc.
  2. Asia Travel Insurance: If you are traveling to Asian countries, you can opt for Asia travel insurance. Under this policy, your medical and other unexpected expenses will be covered.

WHAT TRAVEL INSURANCE COVERS?

The coverage offered by insurers varies for different providers. Following are the most common inclusions under a travel insurance policy:

  • Loss of baggage and personal documents.
  • Loss of passport.
  • Emergency medical expenses.
  • Repatriation of human remains.
  • Hospital cash allowance.
  • Accidental death or permanent total disability.
  • Hijack distress allowance.
  • Compassionate visit of relatives.
  • Personal liabilities, in case of injury or damage to a third party.
  • Delayed trip and missed flight connection.
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