For many, it is a dream come true to go on their first international trip and having the right medical travel insurance policy can only add benefit to your trip as it covers medical/ accident and dental procedures or operations.
What many fail to take into account is the fact that a medical procedure in Europe or other countries is far more expensive than in India. A normal check-up for a non-European citizen can go up to lakhs of Rupees, and many families do not have that amount in their Forex Cards or don’t carry enough cash. For this reason, we have travel insurance which in most cases covers almost everything. Most insurance companies offer great international travel insurance online, so you don’t have to take out time to physically go to a company and waste time there. Online, you can make your own decisions. The Need of Travel Insurance We know that Travel comes with a fair allocation of unforeseen accidents dangers and risks. Medical travel insurance is, generally speaking, a special type of insurance designed to cover the individual insured from a range of tour correlated perils. It covers you against unpredictable accidents/ mishaps like medical treatments; lost/ misplaced baggage; loss/theft of passport and other travel documents; migration due to political unrest, natural misfortune, or medical emergency; missed and cancelled flights and cancelled trips and so on. Opting for medical travel insurance, particularly while travelling abroad, is always extremely suggested by embassies. Some countries like Germany, USA, and Canada require you to have medical travel insurance before you can apply for a visa. Since the costs of medical operations, check-ups and other calamities can drain your pockets, such countries make it mandatory for you to be insured just to be on the safer side. Besides medical emergencies, most medical travel insurance plans also cover other events like cancelled and missed flights and even trip cessation. They also cover theft and loss of passport, travel documents or even personal baggage while travelling, which can cause an assortment of troubles, especially when you are in a different country. In case of such ‘disasters’ having medical travel insurance will guarantee proper support and can save you a lot of time and money. There are numerous policies you can now buy or compare online. Tick off the major calamities and choose a plan accordingly. How Does Medical Travel Insurance Work? Insurance Companies charge a premium amount based on the country you are planning to visit. If you wish to travel to Schengen Countries, i.e., Europe, they can charge you around INR 2,800 – 5,000 depending on the plan you’re choosing. You can buy travel insurance policies based on a customized approach as well, meaning it is crafted to your requirements and needs. Experts recommend buying travel insurance policies in your native land as the rates in other countries keep fluctuating. Types of Travel Insurance Policies Travel insurance plans are chiefly of two types: domestic travel insurance which covers you travelling within your country and International Travel Insurance which covers your trip abroad. Now, that we have established a basic understanding of this, we can move on to the types of medical travel insurance available to us. • Student Travel Insurance is for students who are travelling overseas for pursuing higher studies. The coverage accessible by these plans includes loss of passport or other travel documents, medical treatment, and interruptions connected to your studies. • Family Travel Insurance is a plan that covers families on a trip that’s planned within the country or overseas. It covers medical treatment, loss of important documents and loss of luggage/baggage and delay or cancellation of your flight. • Senior Citizen Travel Insurance is as it suggests for senior citizens between the ages of 61 to 70. Such a plan covers hospitalization, dental treatment, and other fundamental benefits. • Corporate Travel Insurance is solely dedicated to the employees of a company or organization during an international or domestic trip. How to Buy Travel Insurance Policy Before buying a travel Insurance Policy, one must decide which plan is beneficial to that individual or person. There are different insurance plans for different individuals. A student must take coverage for a longer period than a tourist. You must ensure your coverage includes all essential disasters or mishaps like document loss, flight delay/ cancellation, medical treatment, and so on. To buy travel insurance policy, you must be smart and decisive. Deiced what all you think is required to be covered and compare before you buy online or offline. There are different policy types you can buy. Most companies offer silver, platinum and gold coverage. Though the platinum one costs more, it offers more coverage and is highly recommended. Also, compare before buying because one plan may not offer the same coverage as the other plan. Take time to decide on the best and most suitable policy for you. For more updates and News visit Policybazaar Wikipedia Page
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AuthorInsurance and financial manager. Archives
May 2018
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