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Benefits of Travel Insurance

Choose a Travel Insurance that offers these 5 Benefits

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    94%

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    The number of outbound travelers in India is growing steadily. This is a major growth driver for the travel insurance segment in India with every avid traveler enjoying the benefits of a customized travel plan.

    Benefits of Travel Insurance

    Here are 5 major benefits you must look for when opting for a travel insurance policy.

    • During Emergency Hospitalisation
    • Personal Accident Cover
    • Baggage and Passport are insured
    • Trip Cancellations or Delay Coverage
    • Customized International Travel Plans

    When opting for travel insurance, every traveler should ensure if it offers the right coverage amount keeping in view the destination. This is particularly true, when visiting high-end destinations where healthcare costs may be expensive. Nevertheless, all travel policies offer some major benefits that will help you deal with any medical or non-medical exigency without worries.

    Medical Benefits of Travel Insurance

    Healthcare in foreign countries is expensive. Therefore, going abroad without overseas travel insurance is a risk. A sound travel insurance plan offers protection against medical emergencies that you or your travel companions can face during your stay in a foreign country. It saves you from getting overburden financially. Some of the major medical benefits of travel insurance are:

    • Cashless Hospitalization
    • In-Patient and Out-Patient Treatment
    • Daily Allowance for Hospitalization
    • Medical Evacuation
    • Air Ambulance
    • Surgical Dental Treatment
    • Personal Accident
    • Treatment for Mental and Nervous Disorders 
    • Treatment for Alcoholism and Drug dependency

    During Emergency Hospitalisation Cover

    Getting hospitalized due to illness or injury is a tough situation at any time of the year, let alone a trip. Moreover, medical treatment costs in a foreign destination can be high. Without a travel plan, getting healthcare may hamper your travel budget to a great degree. This is where international travel insurance is useful as it covers your hospitalization costs. A good travel plan also covers you even in case of pre-existing health conditions that turn life-threatening. Coverage amount in case of accidental hospitalization usually includes a double sum insured, subject to policy terms and conditions.

    Personal Accident Cover

    In worst-case scenarios such as accidental death or permanent/temporary disability, travel plans play a pivotal role in providing financial support for the family of the insured person. Repatriation of mortal remains is another feature that travel plans include. Furthermore, during an exigency when a medical facility is not available in the vicinity, the need for medical evacuation arises. That is, the person needing medical attention must be transported to the nearest healthcare center. A good travel plan provides coverage for medical evacuation services so that the individual faces no hassle in accessing quality healthcare.

    Non-Medical Benefits of Travel Insurance

    Traveling without a sound travel insurance cover may cost you thousands of rupees for flight delays and cancellations. Hence, a good travel insurance policy bears your travel losses and gives you reimbursement for the following:

    • Flight Delay or Cancellation
    • Trip Cancellation or Interruption
    • Loss of Passport
    • Loss of International Driving License
    • Study interruption
    • Terrorist attack

    Baggage Benefits of Travel Insurance

    When you are flying to any foreign land, you should be ready to face airline goof ups as well. Thankfully! Overseas travel insurance plans give you baggage benefits that include the compensation up to the sum insured against: 

    • Loss of Checked-in Baggage
    • Delay in Checked-in Baggage
    • Loss of laptop/Tablet
    • Breakage or Theft

    Trip Cancellations or Delay Coverage

    Cancellation of flights can not only be inconvenient and disappointing, but they also lead to additional expenses. For the time you are losing as a result of flight delays or cancellation, you may have to spend money on accommodation, food, local transport, etc. The estimated expenses are likely to be huge in case you are at an international destination. A good travel policy should provide a suitable coverage amount for trip cancellations, delays, and interruptions, depending on the location you are traveling to.

    Customized International Travel Plans

    Travelers are exposed to different risks and travel needs also vary greatly from one person to another. Customized travel plans have become popular owing to the convenience and advantages they offer. Travel plans and their premiums are defined by various factors such as the traveler’s age, the duration of the trip and country or destination one is traveling to.

    For instance, the student travel insurance policies are quite popular among those who are planning to study in a foreign country. Such plans are customized to fulfill the likely medical and non-medical emergency expenses a student may incur during his/her stay in the country.

    Additional Benefits of Travel Insurance

    Travel insurance acts as your rescuer and ensures that your trip continues smoothly. Its additional benefits ensure your smooth trip. Some additional benefits of travel insurance are:

    Cashless Hospitalization: Under your travel insurance policy, you can avail emergency hospitalization in a foreign country. Your insurer bears in and out-patient treatment expenses, up to the sum insured. You do not require making the arrangement of cash in foreign currency for treatment. 

    Medical Evacuation: If you are required to move to your home country for better treatment than your expenses will be borne by the insurer up to the sum insured under medical evacuation cover.

    No Maximum Age Limit: There is a no-entry age for travel insurance. You can opt for it even for your one day only child as well at an affordable premium.

    Pre-Existing diseases: The expenses that arise due to the treatment of pre-existing diseases in case of life-threatening diseases will also cover under travel insurance.

    Up-Gradation to Business Class: Under this cover, if you are hospitalized for more than five consecutive days and needs to be back in the home country. You get the up-gradation from economy to business class.

    Return of Minor Child: If you are hospitalized in a foreign country and you want that your minor child should return to your home country, then the cost to bring your minor child back will be borne by the insurer, subject to policy terms and conditions.

    Daily Allowance for Hospitalization: If you are hospitalized for more than five days, then you will get a daily allowance to manage your day-to-day living expenses such as meals, communication, and transportation abroad.

    Mandatory for Visa: In countries like Russia, the USA, Schengen, and other travel insurance is mandatory for all the tourists to ensure their safety during their visit. So, if you are planning to visit any of these countries first you have to opt for overseas travel policy to get your visa process done.

    Trip or Flight Delay/Cancellation Reimbursement: Trip or flight delay or cancellation can cost you thousands of dollars. But, if you have a travel insurance cover, then you are on the safer side. You will get the reimbursement for all the possible expenses that you may incur due to trip or flight delay or cancellation.

    Reimbursement of Losses: Loss of check-in baggage, loss of passport, and sports injuries can drain all your money. International travel policy provides reimbursement for all these expenses, subject to policy terms and conditions. It also saves you from financial losses and supports you in your bad time.

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