Tips to find best travel insurance
Tips to find good and adequate international travel health insurance.
Know more »India is one of the largest outbound traveller market in Asia from where nearly 21 million International travellers left for International destinations. Out of the Top 20 International destinations that Indians prefer visiting, 14 of them are in the Asia Pacific region as listed above. And Indians love story with the Asian markets are not likely to end soon, this will only grow as more Asian destinations get added as well as more air capacity on short haul routes increase. The key reasons for Indians to prefer Asian markets include : 1) Short duration of Travel to reach there 2) Relative Cost of the Trip given the current exchange rates of ₹ INR and 3) Flight Connectivity and number of Carriers.
While most Indians travel to Asian destinations one very critical fact to be recorded is that the penetration of insurance to the number of travellers is lowest in these destinations. The underlying factor could be that the Indian traveller believes that since the trips are for around a week at maximum, the likelihood of any emergency requiring insurance cover during this period is very low.
The cost of international travel insurance for Asia also when compared to the overall cost of the trip is significantly low and hence very traveller should compulsorily buy best international travel insurance cover for their trips to Asian countries.
Insurance Plan ** | Sum Insured for Accident & Sickness in USD $ | Sum Insured for Accident & Sickness in INR ₹ | Age 30 years - Premium payable in INR ₹ | Age 46 years - Premium payable in INR ₹ | Age 65 years - Premium payable in INR ₹ |
---|---|---|---|---|---|
Plan 1 | $25,000 | ₹17,50,000 | 518 | 603 | 813 |
Plan 2 | $30,000 | ₹21,00,000 | 693 | 759 | 1,264 |
Plan 3 | $50,000 | ₹35,00,000 | 651 | 792 | 984 |
** - please note that the coverage under the different plans vary with the insurance company for the same Sum Insured, please go through the coverage details while deciding on the most suitable plan.
Even assuming that the average cost of travel insurance is ₹1,000 (on the higher side), and the overall trip costs in the region of ₹40,000 (per person including air transfers, hotel stay, local tour packages etc), the % contribution of insurance is just 2.5%. This clearly illustrates that every Asian traveller should consciously insure themselves prior to departing from India.
Insurance companies like Tata AIG, Bajaj Allianz, Cholamandalam, Reliance General, Apollo Munich, Future Generali, Royal Sundaram and Digit have an Asia specific Insurance plan for the Indian traveller. There are essentially two broad part of international travel insurance to Asia policy that can protect the traveller which are coverages for Medical Emergencies like Accident or Sickness, Personal Accident cover, Dental Cover and Medical Evacuation and Non Medical covers like Loss of Passport / Baggage Delay, Trip Delay, Trip Cancellation/ Trip Curtailment etc, which are relevant coverages for any International traveller.Tips to find good and adequate international travel health insurance.
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