What is Family Travel Insurance?
Who doesn’t love a good family vacation? A relaxing beach vacation or an adventurous trip to the mountains to make the memories that will last a lifetime. Family vacations can be a pleasurable experience but also stressful because of the many things that can go wrong at any point. A perfectly good holiday can be ruined by lost luggage, cancelled flights and so much more. Family Travel Insurance is your safety net which makes sure that glitches in your travels do not ruin your much-deserved break. It is a single policy which takes care of any problem that may be faced by you and your family members while travelling. Unlike other individual travel insurance schemes, the coverage amount provided by international holiday insurance is divided equally by all the family members. Also the process of claim disbursement is simple and involves minimal paperwork. Getting a international family travel insurance will ensure that when you travel with your family, the only thing you have to think about is having fun.
Features and Benefits of Family Travel Insurance Policy:
Following are some of the important features and benefits that Family Travel Insurance offers:
- Medical attention in many countries can be extremely expensive without insurance. All the expenses related to medical emergencies of any of the family members will be covered under this one scheme. Everything from illnesses, bodily injury, hospitalization, the expense of a family member travelling to visit an ailing family member, emergency medical evacuation back to India, the expense of transporting the mortal remains of an insured family member or the burial overseas etc. will be covered with policy.
- Compensation for death/permanent disability caused by an accident while travelling in a common carrier.
- It is not only an annoying but an expensive affair if your trip gets delayed. Family Travel Insurance makes sure that all such expenses are covered.
- Compared to individual travel insurance schemes, having one policy for the entire family will reduce the premium that you must pay because most insurance companies include children from 3 months to 21 years. Further it is much more convenient to get a single policy rather than multiple policies for each member.
- Purchasing insurance individually for family members can be much more expensive than getting the single Family travel insurance scheme which covers the entire family.
- Hiccups like baggage loss/delay, losing travel documents etc. will be smoother with a good family travel insurance in place. The cost of getting a new passport will be covered. The expenses due to delayed/cancelled flight is also covered, as is the cost of missing a connecting flight because of it.
- If your house back home gets robbed while you are travelling abroad, this scheme will cover the expenses incurred.
- In the unlikely event of a hijack also you will be given allowance.
- If you happen to lose your money while travelling, you will be offered emergency funds by most insurance companies.
- Many insurance companies let you customize your policy to fit your family’s needs. Trips as short as four days can be covered. Also, there are policies offered for everything from annual, round-trip, single-trip and multi-trip policies.
- You can opt for additional coverage (For medical evacuation, repatriation, personal accident etc. ) to feel even safer.
- Majority of insurers now offer other facilities like cashless claims, minimal documentation, online renewal, international assistance and competitive premium rates for family travel insurance.
Please note that the points described are the common features and benefits offered by most insurance companies. However, each company may have different inclusions/exclusions which must be read and understood before purchase.
Best Family Travel Insurance Policies by Travel Insurance Companies in India :
- Reliance General Travel Insurance
- Apollo Munich Travel Plans
- SBI General Travel Insurance
- ICICI Lombard Travel Insurance Plans
- Bharti AXA Travel Plans
- Oriental Insurance Travel Insurance
- Max Bupa Travel Insurance
- Cholamandalam Travel Insurance Plans
- Future Generali Travel Plans
- HDFC Ergo Travel Insurance Plans
- IFFCO Tokio Travel Insurance Plans
- National Insurance Travel Insurance
- New India Assurance Travel Insurance
- Royal Sundaram Travel Insurance
Family Travel Insurance Eligibility:
The criteria for eligibility of a overseas family travel insurance india differs from company to company. However, most insurance companies offer the policy for families with members between 3 months and 65 years. If a family member is over 65 years they may have to go for an Individual Policy. The policy you are offered will depend on factors such as your destination, how long the trip is, the medical condition of family members etc.
Exclusions of Family Travel Insurance India:
Although it varies from company to company, these are some of the common exclusions of most Family Travel Insurance policies:
- Pre-existing conditions and related complications including mental disorders, HIV/AIDs etc.
- acts of war/terrorism
- suicide attempts/self-inflicted injuries
- not adhering to medical advice
- effects of drugs/alcohol use
- involvement in criminal acts as well as injuries caused by participation in hazardous activities
- Theft/loss of baggage that is not reported to local police authorities
- Damage/partial loss for checked-in baggage.
Family Travel Insurance claim process:
- Make sure that you inform the local authorities if your belongings are stolen or other such instances. Your insurance company may ask for the details of the police report.
- You may either call or email the insurance company. Most companies have a 24/7 hotline number that you can reach in case of emergencies. The number to reach the insurance company is usually a toll free number and differs if you are calling from India or abroad. Make sure that you have these numbers on you at all times while travelling.
- A service representative will talk to you about your situation and brief you about the next steps to be taken. You will be emailed/faxed a claims form.
- You will be told which documents you will require for the procedure of claiming the insurance amount, depending on the nature of the issue. For example, flight delay, medical emergency, theft of your belongings etc.
- All the supporting documents will have to be sent to the company by e-mail or fax.
- Once the documents are assessed, your claim may be approved.
- If you have purchased your insurance plan from Bajaj Allianz for example, the process of claiming involves you informing the company as soon as the problem arises. If, for example, you have been admitted in the hospital, a representative from Bajaj Allianz will have to talk to a hospital personnel and arrange for direct billing. Outpatient medical care billing will vary from case to case. The number to contact Bajaj Allianz from abroad varies from country to country.
Family Travel Insurance FAQs:
- Q: What information do I need to provide an insurance company when I am purchasing a family travel insurance plan?
A: Personal information of all your family members travelling including dates of birth.
Trip details such as destination, which travel companies you will be using (if any), dates of travel, total cost of the trip as well as how much cost per person in the group.
- Q: What is a pre-existing medical condition? Will I be covered for it?
A: A pre-existing medical condition is a medical condition that you have been diagnosed with/treated for before your trip such as AIDs for example. The conditions that each company covers varies, so you must speak to a representative of the company before purchasing. You must also read the fine-print to see what exactly is covered in terms of medical conditions. Pregnancy also, after a certain period, may be excluded in most insurance companies. Remember that you will only be provided cover for pre-existing medical conditions that you have declared.
- Q: Which is the best family travel insurance company?
A: The best family travel insurance company for you is a personal choice. Different companies have different benefits and drawbacks. Some of the more popular travel insurance companies that offer family travel insurance in India include Apollo Munich Travel Plans, Future Generali Travel Plans, HDFC Ergo Travel Insurance Plans, ICICI Lombard Travel Insurance Plans and Bharti AXA Travel Plans.
- Q: Can I cancel my family travel insurance policy?
A: Most companies have certain rules about cancellations. Bajaj Allianz for example charges Rs. 250 if you cancel before the trip.
- Q: How can I compare different plans of companies?
A: You can use online portals such as BankBazaar.com to compare the rates and other features of policies from different companies.
- Q: One of my family members travelling with me is 71 years old. Will family travel insurance cover him as well?
A: Most family travel insurance companies do not cover individuals over 60-65 years. You may have to take an individual travel insurance for this member. You can contact a representative from your insurer to be sure.
- Q: Will I have to visit certain hospitals in the event of a medical emergency?
A: Some insurance companies may have network with hospitals abroad. However, most Indian companies like Bajaj Allianz, allows you to visit any hospital and the cost will be covered.
- Q: What if I return to India before the last-day of my policy period?
A: In case you return before the last day of your policy period, you may be eligible for a refund of premium at varying rates, depending on the terms and conditions. This holds true if no claims have been made and if the policy has not expired.
- Q: If I decide to extend my vacation is it possible to renew an existing policy while I am abroad?
A: Yes, you can renew the plan online by filling up a form around 7-10 days before the expiration date. You should get approval for an extension within 24 hours.
- Q: If I am applying online, what information do I need?
A: You will only need basic information such as the travel dates, your full name as is given in your passport, passport number, date of birth, telephone number in India and mailing address. You must also specify the assignee (the individual beneficiary in the event of death of the insured).
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