You book yourself a holiday abroad, or want to travel within the country. You need to insure yourself against a medical emergency while travelling, or in the country you are holidaying, loss of baggage, passport and so on. The travel insurance plan compensates you for this loss.
Medical ailments may force you to cancel your trip, which will result in heavy cancellation penalties. Such scenarios are covered to a certain degree by Travel Insurance. Losses incurred due to missing flights, delays and missed connections. Loss of Baggage could create serious issues. Travel Insurance helps in covering the cost of baggage and transport to the intended port. In case baggage is permanently lost, travel insurance will help you cover the necessary costs.
Ailments suffered during the trip can result in heavy medical bills. Travel Insurance helps tide over such costs. Some Travel Insurance policies help cover the losses incurred if an airline, cruiser or hotel defaults on their commitments. Acts of Terrorism or War are also covered by Travel Insurance.
Travel insurance pays your costly medical bills and hospitalization expenses, even in a foreign country.
Travel insurance pays you, if you miss your connecting flight in a foreign country or for bail if you get arrested in a foreign country.
You are compensated for the loss of baggage or your passport in a foreign country.
You are compensated for any emergency evacuation, especially storms and hurricanes in a foreign country.
Domestic travel insurance can be purchased by any Indian national traveling within India. If any foreigner passenger is traveling in India, and has received work permit in India, he can also purchase domestic travel insurance.
The eligibility age can be anywhere between 6 months and 65 years and varies from plan to plan. The coverage provided depends on various factors, such as your medical condition, the place you are traveling to, and the length of your trip.
The destination is the first major factor you must consider while buying travel insurance. Medical expenses in countries like USA, Canada and Greece are expensive. The sum assured must be high if you are travelling to these countries.
The duration of the trip is another important factor you must consider. The longer the trip, the higher the sum assured.
If you're involved in adventurous activities like trekking, skiing and water sports, a higher sum assured must be availed.
The coverage of the travel insurance policy in the country you are travelling to, is vital. Details such as online services, Hospital Network Coverage, Claim Processes, Toll Free Numbers and so on need to be checked before buying the policy.
31 January 2017, Tuesday
Indian Railways is the lifeline of our country. It connects every nook and corner of the Nation, providing employment to lakhs of citizens. Rail travel is not only enjoyable, it’s the cheapest way to travel. Just think of all those trips you made, travelling by train, visiting some of the most...
22 November 2014, Saturday
The World is a book and those who do not travel see only one page.Here comes summer…It is holiday time…Time to take that amazing vacation. All of us must have made our plans for that exclusive elusive holiday. For the rich and famous it must be Ibiza, St Lucia, Hawaii or the Bahama...
17 November 2014, Monday
RBI was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.The Central Office of the Reserve Bank was originally established in Calcutta but later was permanently moved to Mumbai in 1937. The Central Office is where the Governor of RBI sits and wh...
18 July 2012, Wednesday
Formalities for a health insurance claim You can make a claim under a Health insurance policy in two ways : On a Cashless basis and A Reimbursement Claim On a Cashless basis : For a claim on cashless basis, your treatment must be only at a network hospital of the Third Party Administrator (TP...
14 March 2014, Friday
As the name suggests ELSS invests the whole corpus in equities. Proportions as high as 80-90% of equities are found in an Equity Linked Savings Schemes. It is a special kind of mutual fund that qualifies for tax benefits. Basically Equity Linked Savings Scheme is a mutual fund with a lock in peri...
07 January 2014, Tuesday
One of the most common reason for family feuds in India as in the rest of the World is faulty estate planning. Estate planning is a neglected topic in India mainly because of the emotions attached to it. A common reason people neglect to make a will or indulge in estate planning in their younger y...