International traveling is always a fun-filled thing, a trusted way to release your stress and spend quality time with your loved ones. However, it often comes up with surprises. So, if you want to leave your worries behind and make memories for a lifetime, then opt for international travel insurance. Here is an ultimate guide for buying a travel insurance policy for a stress-free holiday.
What is Travel Insurance?
Under travel insurance, the insurance company covers all your travel risks up to the sum insured against the premium that you pay to the company. It indemnifies the medical and non-medical expenses that you may incur during your journey outside the country. It keeps you safe in case your meticulous travel plan does not go as planned.
Key Features of Travel Insurance Policy
Overseas travel insurance policy has the following features:
- Region-Specific Travel Policy
- Global Acceptance
- Affordable Premium
- Cover Emergency In-Patient Hospitalization Expenses
- Immediate Medical Treatment
- Compensation for Trip delay/ Loss of Baggage
- Quick Cashless Claim Settlement
- Multi-Trip Travel Insurance
- No Age Limit to Buy The Policy
- Automatic Doubling of Sum Insured
- Up-Gradation to Business Class
Types of Overseas Travel Insurance
You can get a wide range of overseas travel insurance plans that give you maximum coverage. Below are the types of travel insurance that you can pick according to your travel plan.
International Travel Insurance
Whether you are going for a family holiday, honeymoon, or business trip, you can opt for region-specific international travel insurance. From emergency medical treatment to trip delay/cancellation all will be covered under this plan.
Student Travel Insurance
As an aspiring student, if you want to go overseas for studies, then student travel insurance is apt for you. It gives you all the basic coverage of international travel policy. Additionally, it includes sponsor protection, study interruption, two-way compassionate visit, and bail bond as well.
Group Travel Insurance
Itis basically for the people who travel in groups for business, industrial training, conference, and pilgrimage trips. Corporates and institutions often prefer this policy to cover their employees whenever they are going abroad to represent the companies.
Benefits of Overseas Travel Insurance
Nowadays, outbound travel has increased in India. MNC culture, workforce diversity, globalization, and good salaries have increased the frequency of foreign travel. Read below the benefits that overseas travel insurance policy offers:
- Bear hefty emergency medical expenses in a foreign country
- Immediate evacuation at the time of medical emergencies
- Cover anesthetic dental treatment expenses
- Compensation for trip delay/cancelation, loss or delay of checked-in baggage
- Bear personal liability outside the country
- Obtain the duplicate copy of lost passport and other travel documents
- Arrange emergency cash
- Mandatory to obtain a visa for some countries
How to Buy Right Travel Insurance Policy?
These days whenever you browse about travel insurance, you will find a plethora of plans. Therefore, choosing the right travel insurance can be a daunting task. So, here you can read quick tips to pick the best plan.
Purpose of Your Travel: Keep in mind your purpose of traveling abroad, for instance, if you are going for a family holiday buy international travel insurance but if you are going for studies then, opt for student travel insurance.
Policy Coverage: Pick the insurance policy that offers you maximum coverage against medical and non-medical travel uncertainties.
Amount of Premium: Compare the amount of premium and choose the most affordable insurance plan that does not overburden your travel budget.
Claim Settlement Ratio: Higher the ratio is the more the company is reliable. You should analyse the ability of the insurance company to settle the claim then invest accordingly.
Check Exclusions: There are certain things that the insurance company does not cover, for instance, sport-adventure injuries, pre-existing disease, natural calamities, etc. So it’s advisable to choose the policy with the least exclusions to avail maximum coverage.
Therefore, it’s good to think and analyze when it comes to life’s important decision. Uncertainties are the part of life, so does not allow them to create hinder in your joy. Opt for a comprehensive Religare Travel Insurance that covers all your travel risks, so that you can enjoy your travel rendezvous abroad worry-free.