Family travel insurance - Buy Online

So the Indian traveller spends a lot of time and effort to keep these family ties strong and hence almost 30% of trips made abroad are to spend time with family, relatives and friends. According to a Expedia Study in 2017, another interesting fact is that 76% of Indian Travellers are likely to travel with their Family Members, Partners or Friends... this is the highest in the world against many developed nation’s travellers who prefer to travel alone.

Individual travel insurance for each family member is when every family member is offered an independent sum insured to cover medical expenses up to policies medical maximum. This type of individual travel insurance coverage for multiple family members can be in a single travel insurance document, where the different family members are listed within that travel insurance policy document. The individual travel insurance options will be slightly expensive when compare to the family floater travel insurance policy as the traveler, the spouse and children are covered separately up to chosen plan maximum.

A Family floater travel insurance policy is issued with a single sum insured covering many individuals of a family. The cover can be used by any member of the family any number of times during the policy period. If a traveler wants a travel insurance for himself, his spouse & their children, the Family Floater plan is ideal and offers insurance coverage to the entire family under one premium payment.

Let’s take an example where the traveler insures himself, his spouse and two dependent children with individual insurance plans having a medical maximum coverage of of Rs 1 lac each. The travelers pays an average premium of Rs X for each family member, which amounts of Rs 4X (assuming they are in the same age band for the premium and hence is the same cost for each traveler). If the person opted for the family floater plan with the sum insured of Rs 1 lacs, the total premium would typically be less than the separate premium payments in individual health insurance plans, ie less than Rs 4X. Moreover the individual plan has coverage of Rs 1 lac for each member as against Rs 1 lacs in case of the Floater plan( in case the medical treatment exceed Rs 1 lac). This Rs 1 lacs is available for each of the family members individually as well as collectively.

It is recommended for younger ages of all family members, to choose the family floater cover, as the members grow older, it is recommended to choose the individual travel insurance coverage.