When a person plans for a trip to abroad, he or she spends maximum time in finding the best deals for hotel bookings, sight-seeing and shopping, but they seldom think of buying a Travel Insurance. There are very few people who plan for unpredicted situations like delay of flight, personal accidents or a hospital stay in a strange unknown place. It’s always better to take the wise call by opting for Travel insurance since it provides you complete coverage while you are planning your holiday so that you may stay away from anxiety over these unforeseen events.
What all is covered under Travel Insurance policy?
A comprehensive travel insurance will provide cover for medical emergencies, death, disability, losses incurred due to unforeseen cancellation, personal liability, luggage or when having to cut your trip short.
What are the benefits associated with the plan?
The insured person gets the following benefits by opting for a optimum travel insurance plan:
Medical Benefits – Travel Insurance provides financial recovery for medical expenses that are incurred because of accidents and illness. The insured person can reimburse the total expenditure spent on medical treatment.
Travel Benefits – In case there is a delay in the airline timings, the insured person receives a certain amount each day as a compensation for the delay.
Additional Benefits – Passport is mandatory while travelling. But what if you lose your passport during your travel? Well, you need not worry if you have a travel insurance policy since it compensates for the loss of luggage or theft of baggage.
Curtailment – This policy also covers unexpected return journey such as termination of trip midway due to the medical crisis.
Personal Accident Coverage – The insurer also provides accidental death coverage which means if the insured person dies due to an injury caused during the travel, a planned amount is offered.
Opting for a reliable insurer with an optimum plan can help drive maximum benefits from it. The travel insurance not only takes care during your travel but also secures the most valuables of your home while you are traveling. There are few policies which also provide coverage if there is an incident of burglary and fire.
In addition to this, the insurer also offers cover for legal liability which includes legal expenses for bodily injuries or damage to property of other persons as a result of a claim made against you. Suppose, if the traveler loses his or her credit card or if it was stolen on a trip, the traveler will be reimbursed for any costs to replace the credit card.
What are the eligibility criteria for a travel insurance plan?
When it comes to eligibility for the travel insurance plan, it covers all kinds of age group ranging from senior citizens to youngster, married couples, solo travelers, family etc.
The table shows the coverage for different types of travel insurance plan based on the age groups:
|Type of Travel Insurance||No. of adult covered||Age of adults||No. of children covered||Age of children|
|International||2||Up to 60 years||2||Up to 21 years|
|Senior Citizen||–||Up to 85 years||–||–|
|Family||2||Up to 60 years||2||Up to 21 years|
|Student||–||–||Students who wish to travel abroad for further studies||between 16 and 34 or 40|
|Schengen||–||Up to 70 years||–||Newborn over 90 days|
When does the cover start?
The travel insurance cover starts from the time the insured person boards the conveyance to leave for onward journey or the Contracted Departure Date as per the policy whichever is later, subject to receipt of premium by the insurer.
What documents need to be submitted to the insurer while making the claim?
The insured is provided with the policy terms and conditions together with a certificate detailing the insurance coverage details. This is emailed to the insurer when he or she buys the policy. A soft copy of the policy document is sufficient for the insured to make a claim.
What is the cost of the premium?
The cost of the premiums depends on various factors such as:
· Age ( As the age increases the policy premium also increases)
· Duration of the travel (Long trips might shell out more money for your premium)
· Destination (Few countries such as Japan, The US or Canada would have higher premiums)
· Plan Coverage (single trip requires a lower premium than a multi-trip cover)