Why do i need travel insurance?
Travel insurance in India provides coverage for health expenses overseas as well as trip related insurance coverage. In addition to providing trip insurance for trip delays, trip interruptions, trip cancellations and related problems, it may also cover additional travel-related expenses such as those incurred for medical and health emergencies that may arise during your trip.
What are the types of Budget Holiday travel insurance cover?
There are various types of travel insurance. For example, you can get cover for a single trip, or you can buy a 12-month multi-trip policy. Plan is also available for couples, families or groups. International holiday insurance for senior over 70s
are quite popular among Indian parents and older travelers visiting their families and children living overseas. They often look for Holiday travel insurance for pre-existing conditions
and most of the overseas mediclaim travel insurance offer coverage for pre-existing medical ailments under life-threatening situations.
How to compare and buy affordable holiday travel medical insurance in India?
The compare facility with free quotes of overseas visitors insurance helps Indian visitors to choose the right plan. When plans offered by different insurance companies are evaluated parallel, visitors quickly understand the difference between coverage and benefits. Not all visitors are aware of all visitors insurance options and the quote comparison certainly helps customers to make an informed choice. It is very simple to get quote at eindiainsurance, complete a simple online application with travel dates, destination and insurance sum required to compare plans. Customers can follow easy steps to select a plan and buy online.
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What holiday travel insurance is over 70?
Almost all travel insurance companies offer plans which provide coverage beyond 70 years of age. Some of them even offer coverage upto 99 years of age under their Senior Citizen plans. Given that the traveller is expected to be over 70 years of age, it is important for them to opt for a plan which has reasonably sufficient Accident & Sickness coverage and should ideally be between $50,000 and $100,000 (₹70 lacs).
It is also ideal for the holiday insurance plan that the traveller opts for has non-medical coverage that includes Trip Cancellation/Curtailment, Passport Loss, Baggage Delay/Loss, Flight Delay, Bounced Hotel, Missed Departure/Connection etc because these are some exigencies which could also arise during the trip and could not only ruin the entire holiday but also cause financial loss to the traveller. One should review the travel insurance options available while making a decision on the optimum insurance plan to choose for their holiday travel.
How much does holiday insurance cost?
Holiday Insurance cost a fraction of the overall cost of the holiday when one takes into account the Airfare, Hotel Expenses and Tour Package Cost that the traveller would incur on their holiday. It is important that the traveller does not look at Travel Insurance as a cost but rather a necessity when one travels abroad given the cost of medical treatment in other countries and any unforeseen non medical exigency that can crop up like Passport Loss, Baggage Loss or Delay, Missed Connection or a Flight Delay.
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.
- 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
- 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
Hence it is abundantly clear that it is definitely worth investing in an insurance policy when traveling abroad.
Which travel insurance is best for USA from India?
All Indian insurance companies have comprehensive travel insurance solutions if the traveller is USA bound. The plans have Accident & Sickness (A&S) Sum insureds ranging from $50,000 to $1,000,000 ($1 million or ₹ 7,00,00,000/₹ 7 crores) which the insured can choose from depending on the duration of their stay and age. It is advisable that the traveller chooses an insurance plan with a minimum A&S sum insured of $250,000 but ideally $500,000 (₹3.50 crores) given the extremely high cost of healthcare in USA.
It is important to note that the Indian travel insurance plans for USA also have the following features:
- The Indian travel insurance plans are comprehensive in nature with relevant medical and non-medical coverages.
- The plans have a Third Party Administrator (TPA or Assistance Partner) with a local presence in the USA for any Medical or Non-Medical Assistance required by the traveller
- Cashless Treatment for Inpatient Hospitalisation covered under the policy, available across all hospitals in USA
- Extremely Competitive Premiums when compared to the Inbound Visitor plans offered by the USA insurers
Which is the cheapest travel insurance?
The cost of any travel insurance plan depends on a few factors – sum insured opted for, destination country for the traveller, duration of travel and age of the traveller. If one does a comparison across all insurance players for a similar set of benefits, the premium will typically be in the same price range with a variation of 5-10%. When there is a significant difference in the premiums displayed for different plans, it will imply that the coverages are also different. The traveller must be aware that an insurance plan with a cheap premium will have a limited set of benefits to go with it and the traveller should be fine to have the limited coverage.
Ideally, it is strongly recommended that the traveller first decides on the benefit coverage they would like to have for their trip and subsequent review the premium to make a final decision. Having a satisfactory coverage is most critical when faced with any emergency abroad, be it medical or non-medical.
Can I buy travel insurance after buying the ticket?
Yes, the traveller can most definitely purchase their travel insurance policy after buying their tickets. It is however recommended that the insurance policy is purchased simultaneously with the air tickets and hotel reservation for the following reasons:
- If the traveller chooses an insurance plan that covers Trip Cancellation/Curtailment, in case of an unforeseen exigency (covered under the insurance), the insured can get a reimbursement of cancellation fees applied by the airline/hotel/tour operator/cruise company when they cancel the trip. This is applicable only when the insurance policy is purchased along with the tickets/other reservations. This is highly recommended since today all travel companies are charging exorbitant cancellation charges nowadays.
- It ensures that the traveller doesn’t forget about buying travel insurance during the last few days prior to their departure and hence travels abroad uninsured. This is the worst possible risk that the traveller can take. Also buying the insurance in advance offers peace of mind to traveller to know they will be insured once their trip commences. The policy will come into effect only on the day of departure.
- For whatever reason if the trip is cancelled prior to departure, the traveller can apply for a full refund from the insurance company.
Hence the traveller can only benefit by purchasing their travel insurance upfront.