All travel insurance companies do offer direct/cashless settlement to hospitals for inpatient treatment for Accident of Sickness expenses incurred by the insured traveler.
One of the primary reasons why many travellers choose not to buy a travel insurance policy is they believe that when there is a claim to be settled, most Insurance companies along with their Assistance TPA’s find reason not to pay the claim. This is not entirely true since there are genuine reasons why claims are not admitted by the insurer.
Travel Insurance is a critical part of any Overseas Trip eventhough today almost 75-80% of International Travellers do not opt for it citing various reasons. Most International travellers will ensure that they have their air tickets, hotel reservations, land package arrangements, foreign exchange organised, but when it comes to Travel Insurance, they prefer to not purchase it unless mandatorily required by the destination country.
It is not fair to state that any insurance plan is better or worse than another plan. What is important to note that each insurance plan comes with a different set of benefits at varying sum insureds and it is important for the insured to compare the options available before making a decision.
Travel Insurance currently is one of the most underestimated insurance coverages available in the market. Most travellers believe that Travel insurance not being a mandatory product (like Motor Insurance) need not be purchased to protect their trip.
Travel Insurance is one of the key insurance covers available to International and Domestic travellers on all modes of transport. While today the insurance penetration (to air tickets) is still @20% which is significantly lower than more developed markets, this is a critical insurance coverage that is most required to the traveller.
Travel insurance in India is currently offered by many competent insurance companies in India like Tata AIG, Bajaj Allianz, Reliance General, Care Health, HDFC Ergo, Apollo Munich, Royal Sundaram, Future Generali etc.
Travel has become a very integral part of our daily lives, be it Domestic or International, be it for Business or Leisure/Holidays.
While most countries across the world do not have a mandatory “insurance for visa” process, there are a few of them, wherein one needs an insurance cover in place while applying for the visa.
International Travel Insurance today refers to the insurance policies that international travellers from India buy to protect them in case of any medical and non medical emergencies that may arise during their trip.
A pre existing condition means any condition, ailment or injury or related condition(s) for which the insured had signs or symptoms, and / or were diagnosed, and / or received medical advice/ treatment, within 48 months prior to commencement of the first Policy issued by the Insurer This means that if the insured is traveling abroad with a pre-existing condition and avails of any treatment abroad, the insurance company will not be liable for paying the claim.
A single trip policy will provide coverage for a specific holiday or a single trip. However an annual multi-trip policy (also known as AMT) is a travel insurance policy valid for 12 months.
The purpose of any Travel Insurance policy is to ensure peace of mind to the traveller when they leave home for a holiday or on business. It is also required to cover any unforeseen expense that may come up due to medical or non-medical reasons during the trip.
Travel insurance is perhaps the best idea for an International or Domestic Traveller. While current data suggests that travel insurance is the last thing on the travellers mind when they plan a trip to foreign shores, it is imperative that the discerning traveller gives way more importance to travel insurance than what is it currently being given.
The traveller must consider the following while deciding on the insurance plan and company – Duration of Travel, Destination of Travel, Age of the Traveller, Coverage required. EIndia actually does this comparison work for the traveller.
Travel insurance is an important facet of every traveler’s itinerary which however even today is not given the importance it truly deserves.
A pre existing condition is defined as any condition, ailment or injury or related condition(s) for which the insured had signs or symptoms, which was diagnosed and for which the insured received medical advice/ treatment, within 48 months prior to commencement of the first Policy issued by the Insurer.
Currently many Indians are opting to buy their Overseas Travel/Medical Insurance from foreign insurers assuming that the Indian Insurance plans are not comprehensive or do not have certain coverages.
The Indian Travel insurance scenario eventhough it has been as long as international travel has been around is still in the very nascent stages of its growth.
Travel Insurance: A Must for Your Vacation…7 Myths Decoded…
Travelling is exciting and rejuvenating but don’t let any kind of unfortunate and unexpected incident spoil your trip. Travelling abroad is always an exciting experience, but it comes with its own risks. While one can trust in planning and their ability to handle emergencies, unforeseen situations can arise for both medical and non medical reasons…and foreign countries are very expensive when it comes to most things, especially medical emergencies.
Compare the healthcare and hospitalization costs in foreign nations and other popular Indian tourist destinations across the globe. Healthcare costs are extremely high in most foreign countries and it is important to buy good overseas travel health while traveling outside India.
It is not fair to state that any insurance plan is better or worse than another plan. What is important to note that each insurance plan comes with a different set of benefits at varying sum insureds and it is important for the insured to compare the options available before making a decision. There are two aspects to travel insurance. One is the set of benefits/coverages under the plan. Hence the insured must consider the following while deciding on the insurance plan and company – Duration of Travel, Destination of Travel, Age of the Traveller, Coverage required. A younger traveller can opt for a lesser coverage while an older traveller should take a more comprehensive cover with higher benefits . Second and more importantly the insured should consider the Assistance and Claims support available in the foreign location.
Traveling across Europe is by and large covered by the introduction of the Schengen visa. If you are a traveler transiting through or visiting the Schengen countries, you have to obtain your Schengen visa from the Consulate of the country of your main destination.
Many Indian parents/senior citizens are now becoming more travel savvy and are willing to spend their savings on travel experiences across different countries in the world rather than having their money accumulate interest in the bank.
Oversea Travel Insurance is also know as Overseas Travel Health Insurance or Overseas Mediclaim Insurance and refers to the travel insurance policy that travelers buy when they travel overseas to protect themselves from any medical or non medical claim situation that may arise while they are abroad.
India has seen a remarkable growth of International tourists to around 25 million in 2018 and growing at around 10% YOY. But while the numbers of travellers have been increasing, unfortunately the % of travellers option for medical insurance for travelling abroad has stayed around 20% for many years now and this penetration is a result of Schengen visas mandatorily requiring an insurance cover.
In today’s world, the customer is really the king…In this information age, the customer really has all possible information at his/her fingertips and can choose what and when to buy from the comfort of their homes.
Travel Insurance can be categorized as ideal travel insurance if they offer a comprehensive coverage to the insured traveller every time they travel abroad at a competitive premium while offering prompt and efficient claims servicing.
The concept of pooling resources is as old as the hills for Indians.
A Family Travel Insurance plan is as the name suggests, is a travel insurance plan for the entire family when they travel within India or abroad.
Travel as a product category, lends itself to online commerce and most domestic and international travellers are tech savvy enough to complete their travel related purchases online, and so can be the case with Travel insurance as well where customers would like to compare travel insurance quotes online and then buy the appropriate travel insurance online.
The Insurance Regulatory and Development Authority of India(IRDAI) is a national agency run by the Government of India. IRDAI is based in Hyderabad and was formed by an act of Indian Parliament called as IRDAI Act of 1999.
One of the primary reasons why many travellers choose not to buy a travel insurance policy is they believe that when there is a claim to be settled, most Insurance companies along with their Assistance TPA’s find reason not to pay the claim.
A pre existing condition means any condition, ailment or injury or related condition(s) for which the insured had signs or symptoms, and / or were diagnosed, and / or received medical advice/ treatment, within 48 months prior to commencement of the first Policy issued by the Insurer.
India Travel insurance for overseas travel is today catching up as a necessity for many travellers although a large majority of them still choose to travel abroad and domestically without international travel insurance.
To be honest, there is nothing that can be termed as “Best Travel Insurance”…It is not fair to conclude that a particular travel insurance plan is better or worse than another travel insurance plan.
Travel Insurance can be categorised as “best travel insurance” if they offer a comprehensive coverage to the insured traveller every time they travel abroad. Depending on the age of the traveller, their destination country and duration of travel, the traveller has a variety of plans to choose from across all insurance providers.