What is International Travel Insurance?
So you are all excited about putting that first stamp in your Indian passport! Or it has been ages since you have traversed out of country for any reason? No other act accomplishes goals of bettering your own self by venturing beyond your comfort zone more than travelling overseas. There is no idyllic time as such to pursue new itineraries to discover more of our world and while at it, make changes for the better. Do not let the added money put you off from buying an international travel insurance online, the peace of mind it gets is worth every dime.
Features & Benefits of Overseas Travel Insurance:
- You cannot put a price on peace of mind especially when you are out of the country. As you can insure your home and other belongings back home with an international travel insurance policy, peace of mind is guaranteed.
- Unlike other insurance types, overseas travel insurance plans cater to clients ranging from infants to retirees and the plan covers diseases, emergency health care, hospitalizations and even take care of the same for your loved ones back home if you opt for it.
- International Cashless Hospitalization is another attractive feature.
- You can secure your luggage as well as other important papers such as passport you are carrying.
- You don’t need to go in for a medical exam (only for those below age 85) and can avail it immediately.
- You can get in touch with your insurer any time for travel related emergency or to report a claim.
- In case the trip has to be cancelled midway, your insurance carrier will compensate your losses as per the policy chosen.
- If you return from your trip early, you can get part of your premium refunded as per some policies.
Best insurance companies offering International Travel Insurance Policy:
Some of the most beneficial and hence popular international travel covers are offered by the following companies:
- ICICI Lombard
- HDFC Ergo
- Bajaj Allianz
- Reliance Insurance
- Royal Sundaram
International Travel Insurance Plan Eligibility Criteria:
- The applicant has to be an Indian citizen.
- There is no age bar here to buy an international travel insurance.
- Other conditions vary as per the length of the trip.
International Travel Insurance Policy Cover Inclusions:
- Medical Expenditures
- Medical Evacuation
- Medical Repatriation
- Emergency dental pain relief
- Loss of Checked Luggage
- Delay of Luggage
- Personal Accident (Permanent/ Temporary Incapacitation or Demise)
- Loss of passport and/ or other important documents
- Personal Accountability
- Delay of Trip
- Emergency Cash Advance
International Travel Insurance Exclusions:
- Pre-existing medical condition and related complications.
- If you travel against the advice of the doctor.
- Medical expenses once the policy is expired.
- Travelling for medical purposes.
- Suicide, attempted suicide or deliberately self-inflicted injury or illness, mental disorder (such as depression, stress, anxiety, nervousness etc), anxiety/stress/depression/nervousness having no underlying physical illness as a cause; venereal disease, inebriation, or drug abuse.
- Risky employment, self-exposure to unnecessary danger (except when trying to save someone), being involved in any unlawful act.
- Complications related to pregnancy, miscarriage, abortion or childbirth.
- Treatments other than allopathy.
- The cost of eye glasses, contact lenses, hearing aids, crutches and other external appliances and/or devices.
- Delay of baggage when you return.
- If passport is confiscated or detained by customs, police or other authority figures.
- If the loss is not reported to police in 24 hours.
International Travel Insurance Policy Claim Process:
Download the claim form from your insurer’s official website and send it duly filled along with relevant documents. For instance if you were involved in a road accident while abroad, please notify the customer care at the earliest. You must also send hospital bills and if possible relevant photographs as soon as you can get them.
Overseas Travel Insurance FAQs:
- What are the points to remember when purchasing a global travel insurance for the next journey?
One deciding factor is how much money you are willing to shell out for this. And does the covers mentioned make sense or are they relevant? You may wish to spend in coverage for more complex multi-destination journeys like cruises or package trips, where one gaffe could toss the whole holiday into a nose-dive. Should you choose to buy a global travel insurance, you may do so just a day before your journey date. But do the necessary research and comparisons first and be prepared instead of doing it as an afterthought.
- What type of travel coverage is generally recommended?
This is also completely dependent on individual needs. International travel insurance can be roughly divided on the basis of risk-factor and cancel-if-you-want aspects. Both has explicit reimbursement inclusions and covers for specific requirements. It doesn’t matter what you opt for, your coverage must help assuage any damages ensued due to unanticipated situations. Some plans also comes with extra perks such as emergency medical repatriation and lost luggage assistance. Don’t make the mistake of grabbing the first plan you read about. Give yourself time to read through the fine print to spot the giant in the room even before it materializes.
- Are international travel insurances with frequent flier miles available?Very rarely. Let’s face it.
The company that is going to handle your insurance claim is likely to do it in a way that it favors them. And as frequent flier distances are difficult to indemnify due to continual devaluation, you may never be sure of what might happen.
- Is it must that you go through all that fine print?
Insurance experts have been reiterating for years about the importance of reading the entire policy word to word and understanding it. All the details are normally in eye-killing fine print and nobody bothers to do that or has no time or patience. Consequently, the customer doesn’t look into it until there is a problem. This hitch most often crops up when it comes to major omissions such as terrorism and political unrest. The basics such as journey interruption, cancellation, demise of a near and dear one and personal accidents are here to stay.
Tourists often get stumbled in the particulars of their plans, especially those that frame exclusions. For instance, only some international travel insurance plans insures against terrorism, which would greatly appeal to those going to the Middle East or African countries down north. But, the cases for which you can put in a claim are quite unambiguous. Many policies need an act of terrorism to happen within a definite radius of your destination for your claim to be accepted. In short just a warning notice from the government is not proof enough.
- Could you elaborate on pre-existing health conditions?
Critical health problems that were pre-existent can also create problems for insurance holders. This kind of constraints on pre-existing conditions entangle many a traveler who buy an insurance just in case they have to cancel their tour to attend a close family member’s funeral.
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