You might be travelling overseas for leisure or business. But during the trip, you might be exposed to unforeseen events like loss or theft of passport, medical emergency or personal accident. Such eventualities may not only disturb your trip but erode your finances to a great extent.
Getting an international travel insurance package in your name will see you protected from such threats and will give you medical, financial and other help for you and your family to meet any emergency in case of foreign travel. It promises a problem-free international travel for you and your family.
Strictly speaking, international travel insurance is not mandatory for travel to most countries but holds true for some like Australia and Schengen countries. Most companies offer travel insurance for kids above 6 months up to elderly of 70 years.
Travel insurance is recognized and accepted all over the world. Usually, travel insurance covers business trips and leisure trips and does not cover work permits abroad. For frequent business travellers, insurance companies offer special discount schemes.
Insurance policy is also applicable for one way travel such as immigration travel with validity for a specified period of time. Insurance company also arranges an Emergency Assistance Service Provider (EASP) which is any institution deemed by the company to provide help for the insured person for any claims under insured events.
Every individual will be eligible for only a single policy during his/ her journey. It is compulsory that the customer must be in India while buying the policy.
The insurance company may cover loss of baggage and documents such as loss of passport. At the same time, it may not cover loss of cash, credit card, etc. But it does help people subject to ‘financial emergency’ wherein the insured person loses all or major part of his travel funds due to theft or mugging. He is provided with an’ Emergency Cash Assistance’ up to the limit set in the policy.
In case of hospitalization, there are no standard lists of hospitals covered by an insurer. Except for hospitalization, all claims are settled once back in India.
Travel insurance can be cancelled by requesting through Fax/ Email. There may be a time period for cancellation and a cancellation fee. Most companies do not allow for refund on early return to India.
Foreign nationals working in India with Indian employers of MNC’s are eligible for travel insurance policy.
Author’s Bio: She is a marketing manager with a leading insurance company. She has a master’s degree in management and has several years experience in the field of insurance marketing. She contributes relevant articles to websites like https://www.reliancegeneral.co.in/Insurance.