Should the need arise, are you prepared to pay medical bills while on trip abroad? Medical costs abroad are high; add to it the inconvenience of being away from home. Travel Insurance
eases the situation out for you a great deal. In fact there can be a number of situations that may spoil your trip. Medical emergency, flight cancellations, delays, baggage being lost or delayed in transit, theft, accidents, just anything may happen. Travel insurance gives peace of mind for being covered for any such crisis. Generally no health checkups are required to buy travel insurance till a certain age. It can be bought anytime before the travel begins.Why buy travel insurance
Medical emergencies: Medical or health cover forms the most important part of a travel insurance plan. It pays for your treatment of any unexpected medical condition fully or partially depending on the type of insurance plan. Provision for cashless hospitalisation is generally available. Some insurance companies even offer Hospitalization
Trip cancellation: Your flight has been cancelled, there has been a natural calamity or a public unrest at the destination such that flights are not allowed, your cruise or airline has stopped functioning; any such event natural or man made due to which you have to cancel your trip is covered under travel insurance.
Flight delay: Flights can be delayed and because of it there can be a lot of inconvenience. You may not reach the destination on time or you may miss a connecting flight. Travel insurance covers flight delays if the flight has been delayed for more than 12 hours.
Baggage insurance: Your baggage has reached the wrong destination, will be delayed, or is lost, not an uncommon occurrence. All this is covered in travel insurance with applicable deductibles
Passport cover: If you lose important travel documents travel insurance will reimburse you the applicable amount subject to deductibles and cover limits.
Emergency evacuation: You may have to be evacuated from the hotel or your place of stay due to a natural calamity or a medical emergency. The costs are covered under travel insurance.
Personal liability: If you meet with an Accident
and are liable to pay the third party, the costs are borne by the insurance company.
Personal accident: You are covered in case of dismemberment or death in an accident overseas.
Visa requirement: Many countries have made it mandatory for visitors to have travel insurance
. The mandatory aspect there is medical insurance covering the minimum requirements of the visit. This is called travel medical cover.
Some insurance companies offer cover for plane hijack, terrorist attacks, home burglary etc.
While buying travel insurance plan it is important to check:
•What all is covered in the policy
•What is the total sum insured, what are the sub-limits
•Does it cover the mandatory aspect of the travel insurance
•What are the compulsory deductibles
•What are the exclusions
•Is the duration of insurance same as that of travel
•Can it be extended if required
Travel insurance is now becoming a necessity for any foreign trip. It needs to be included as an important part of travel planning process.