The costs and damage related to domestic and international travel are covered by travel insurance. It covers financial loss due to a variety of unanticipated occurrences that one typically tries to ignore while arranging the holiday or a trip, such as theft, passing away, medical problems, lost luggage, flight delays, etc.
Travel insurance types
Different categories can be used to group travel insurance. It can be chosen based on your needs and requirements. The forms of travel health insurance available for purchase when travelling are as follows:
- Student Travel Insurance: Students who are going abroad for school have access to medical and financial assistance through the student travel insurance programme. This programme will help students who have sudden medical or financial difficulties while studying abroad.
- Domestic Travel Insurance: You can purchase domestic travel insurance if you are travelling within India. With this plan, one is covered for medical emergencies, lost luggage, flight delays, and trip cancellations, among other things.
- Family Travel Insurance: All of the policyholder’s immediate family members may purchase family travel insurance. Accidental expenses, a hospital allowance, and lost luggage are all covered by this travel insurance coverage.
- Senior Citizen Travel Insurance: This all-inclusive package is designed to make travelling easier for persons 61 to 70 years of age. It offers protection for pre-existing conditions, medical services, and healthcare facilities.
- Group Travel Insurance: You can get a party travel insurance plan if your group size is 20 or more. Thetravel insurance benefits of this plan hold good during trip cancellation, lost or damaged baggage, medical evacuating, and trip delays.
What is covered by Travel Insurance?
- Loss of personal belongings and luggage
- Passport misplaced
- Unexpected medical costs
- Returning human remains home
- Hospital cash reimbursement
- Accidental demise or total disability for life
- Sabotageof the distress allowance
- Compassionate family members’ visit
- Personal responsibilities in the event of third-party harm or loss
- Travel delay and missed connection
Since there are various types of plans covered by travel insurance, eligibility requirements and age restrictions will vary from policy to policy. Let’s analyse this.
- Plan for family travel: It provides travel insurance coverage for two individuals up to the age of 60 and their two children up to the age of 21.
- Student travel insurance: Students between the ages of 16 and 40 who are pursuing higher education overseas may purchase this plan.
- Plan for older citizens seeking travel insurance: This policy is available to those over 85.
- Plan for Schengen travel insurance: Adults must be up to the age of 70, and newborns must be older than 90 days to qualify for Schengen travel insurance.
- International travel insurance: Two people who must be up to the age of 60 and two children who must be under the age of 21 are covered by international travel insurance.
Claims procedure
- Inform the insurance provider by phone or email if there is a crisis while you are travelling.
- A claims service representative will assist you in filing a claim, understanding the procedure for doing so, and obtaining the supporting documentation needed for that particular policy.
- Download the appropriate claim form.
- Submit the properly completed claim form together with the necessary documentation.
- An insurance company-appointed surveyor will evaluate the documentation.
Exclusions
If the claim has been filed due to one of the following circumstances, the insurance will not be obligated to pay:
- Health issues that are already present
- Radiation poisoning
- Fatal sports accidents
- Self-inflicted harm
- Using a vehicle that isn’t authorised to transport people
- Surgery costs, unless they resulted from an accident
- If not notified within 24 hours of the incident, lost luggage
- Loss of some of your checked baggage
- Pregnancy-related medical emergencies, such as abortion or miscarriage
- War break-out claims
- Medical emergency brought on by alcohol use
- Claiming alternative medicine to allopathy
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. 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.
