Demystifying Travel Insurance: What You Need To Know

Understanding Travel Insurance

Travel insurance is a financial product designed to assist in unforeseen circumstances during domestic or international travel. It covers various risks such as medical emergencies, lost passports, theft, cancelled flights, etc. There are various types of travel insurance plans catering to specific travel needs. Make sure you do a comparison of travel insurance before buying one. Claims are subject to terms and conditions set forth under the travel insurance policy. *

Types Of Travel Insurance

International Travel Insurance:

• Provides coverage for international travel.
• Offers financial support for medical emergencies, evacuation, flight delays or cancellations, and lost baggage. Claims are subject to terms and conditions set forth under the travel insurance policy. *

Domestic Travel Insurance:

• Covers unforeseen costs during travel within India.
• Provides benefits for emergency medical procedures, lost or cancelled tickets, etc. Claims are subject to terms and conditions set forth under the travel insurance policy.*

Student Travel Insurance:

• Specifically designed for students pursuing higher education abroad.
• Covers expenses like arranging a family visit during a medical emergency or reimbursing tuition fees if an emergency hinders education. Claims are subject to terms and conditions set forth under the travel insurance policy. *

Senior Citizen Travel Insurance:

It is tailored for senior citizens, addressing medical emergencies, repatriation, and other concerns.

Features Of Travel Insurance

• Baggage Cover: Baggage cover in travel insurance is a crucial safeguard for unforeseen events such as delayed or lost luggage. This coverage not only assists in replacing essential items during delays but also covers the costs of permanently lost luggage, providing travelers with financial security and peace of mind.*
• Travel Itinerary: It helps in obtaining a new passport if lost during travel. Assists with cash transfers and emergency travel needs. It reimburses costs associated with unforeseen accidents, trip cancellations, or flight delays. *
• Health Insurance: Covers unforeseen medical costs and hospitalization fees during travel. It assists in medical evacuation to the nearest network hospital. It also provides financial support for repatriation in case of accidental demise.

What Travel Insurance Covers

Travel insurance covers a spectrum of risks in categories such as luggage, travel, and health.

Common inclusions are:

Luggage:

• Loss of baggage.
• Baggage

Travel:

• Passport loss.
• Emergency financial advances and transfers.
• Flight delay or cancellation.
• Accommodation costs due to delayed transportation.
• Rescheduled and cancelled trips.
• Missed departures or connecting flights.

Health:

• Medical costs for illnesses and accidents.
• Dental costs.
• Accidental decapitation and demise.
• Medical evacuation.
• Repatriation of remains.

What Travel Insurance Does Not Cover

Exclusions vary based on the type of plan, but standard exclusions include:

Luggage Exclusions:

• Loss of luggageis not part of the trip.
• Travel to uncovered destinations.
• Failure to report the incident to the authorities.

Travel Exclusions:

• Involvement in illegal activities or adventure sports.
• Physically demanding or hazardous labour.

Medical Exclusions:

• Travel against medical advice.
• Self-inflicted injuries.
• Underlying medical condition-related issues.
• Pregnancy, birth control, surgery, use of drugs or alcohol, mental illnesses, and STDs.

Selecting A Travel Insurance Policy

Consider the following factors when selecting a travel insurance policy:

Destination: Choose domestic or international coverage based on your destination.

1. Travel Frequency: Opt for a single-trip or multi-trip policy depending on how frequently you travel.
2. Trip Duration: Select a policy that covers the entire trip duration, accounting for potential delays.
3. Travel Companions: Ensure all travel companions are included in the policy.

Checklist For Purchasing Travel Insurance

Before purchasing travel insurance, consider the following checklist:

1. Claim Limit: Review claim limits for each category to ensure adequate coverage.
2. Claim Procedure: Understand the claim procedures, required documents, and ease of the online claim process.
3. Claim Settlement Ratio: Check the claim settlement ratio for a quick and efficient claim process.

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.