Affordable International travel insurance

A person travelling to Asia will feel that a premium of around ₹500-₹700 is affordable, whereas a traveller to USA will believe that ₹50,000 is an affordable premium. But it is important for all travellers to understand that such premium is always a fraction of the overall cost of their trip and hence must ensure they insure themselves before they travel. Affordable Medical Travel insurance plans normally come with lower sum insureds and coverages for the traveller and hence it is important for the traveller to not only look at the premium but also compare the benefits of the plans available before making a decision on the plan they would like to buy. It is also important to note that Affordable Travel Insurance for Seniors from India travelling for a 4-6 month vacation will be different for a much younger traveller going on a short trip. Given that the traveller is already spending reasonably large monies for their air tickets and hotels, there is a tendency to cut corners on the insurance policy and opt for the one with the lowest premium. By spending a little more on premium, the traveller could end up buying a relatively more comprehensive insurance plan that just the insurance plan with the lowest premium. Hence it is important for the traveller to compare insurance plans both in terms of coverages and premiums and this will help them choose the Optimum and Affordable travel insurance plan.

Let’s look at a couple of examples; please note that insurance premiums will vary depending on Age of the insured, Destination and Duration of Travel and Coverage Sum Insured.

Situation A

• 35 year old going on a 5 day trip to Asia with a coverage of $25,000 (₹17,00,000)
• Package Cost – Airfare ₹20,000, Hotel ₹20,000, Tour Land Package ₹ 10,000 – Total Cost ₹50,000
• Travel Insurance - ₹350 - ₹500 – 1% of the Total Package cost
• By paying ₹632, the same traveller will get a Sum Insured doubled to $50,000 – this will be a recommended Affordable Travel Insurance plan.

Situation B

• 35 year old going to USA for 35 days with a coverage of $50,000 (₹34,00,000)
• Package Cost – Airfare ₹60,000, No Hotel and Land Package cost assuming he is visiting family
• Travel Insurance - ₹1,500 - ₹2,800 – 5% of the Total Package cost
• By paying ₹2,629, the same traveller will get a Sum Insured (which is 5 times the earlier coverage of $50,000) of $250,000 – this will be a recommended Affordable Travel Insurance plan.

Hence it is important for the traveller to evaluate all options before choosing the Affordable World Travel insurance plan for their travels anywhere across the world.

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