Travel insurance: Do you know these benefits?

Travel insurance: Do you know these benefits?

Everyone wants to have a safe and peaceful vacation.But, some of the frustrating factors of travelling would be, loss of baggage, accident, theft and extra expenses. However, it is always advisable to opt for a travel insurance while planning a vacation. This in return minimizes losses occurring on the trip. A travel insurance can be availed from NBFCs, banks and other financial institution. Also, even travel agencies provide insurance when you apply for visas and book your ticket from there. Among many advantages, travel insurance can be opted at an affordable price and still offer hefty cover.

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Here’s why you need a travel insurance!

Without travel insurance!

For example – Mr X decided to visit United States (US) with a budget of some Rs 3 lakhs. From which Rs 80,000 is set for hotel and food expenses, while Rs 80,000 for economic class air tickets, Rs 20,000 for his travel services there and Rs 90,000 for shopping and site visits. Mr X, still has Rs 30,000 in hand cash, which he decides to use on necessary occasion there.

During his trip, Mr X comes across an accident where he has injured his leg. Now here, because Mr X did not have any travel insurance, he has to compensate the loss from his pocket. That said, Mr X instead of saving is returning home with even more than double expenses.

Thereby, travel insurance can help you compensate for losses that occur during your trip. These days, many companies are even offering not just accidental loss coverage, but also for issues like loss of baggage, medical aid, or trip cancellation cost, flight delays and much more. Hence, you can secure your vacation from every end by just opting for travel insurance. Not just for you alone, but also for family trips. Here’s a list of three policies which can help you!

Bajaj Allianz  travel insurance: 

Benefits! 

1. Covers expenses of hospitalization, loss of baggage and other incidental expenses

2. Covers you against trip cancellation, trip curtailment and burglary of your home*

3. Quick disbursement of claims

4. Global expertise matched with local knowledge

5. Innovative packages to match individual needs

6. Only insurance company with in-house international toll-free numbers and fax numbers

This much compensation you can avail:

If you are travelling abroad with your family, this package covers the entire family (self & spouse – upto 60 years of age and 2 children – under the age of 21 years) for medical eventualities abroad and provides floater benefit to individual family members.

ICICI Lombard travel insurance: 

Features:

The policy nomenclature consists of 3 parts – Gold indicates the plan opted by you, “W” indicates worldwide which is the geographical scope of the policy and “50” indicates USD 50,000 which is the medical sum insured of the policy. However, the Schengen region signifies a group of European countries that have specific insurance parameters and the worldwide plan shall not cater to these insurance requirements. So your Gold W 50 plan will not be valid in Europe.

You should choose a plan with a minimum sum insured of USD 50,000. Also you can contact the company’s ASP and they will arrange for cashless claims for the medical treatment. The fee for policy cancellation is Rs 300. The policy bought online will be cancelled and the amount will be refunded on a pro-rata basis provided no claims have been made subject to minimum 30 days left for the policy to expire.

A hard copy of the policy is delivered within 15 working days. However, you can buy the policy online within 15 minutes and print the policy instantly.

Tata AIG Travel Guard International Insurance: 

General benefits: 

1. Pays compensation if your checked-in baggage gets lost in transit by an airline.

2. Ensures you do not fret if your baggage is delayed or misdirected, by providing compensation to buy essentials.

3. Pays for your losses and damagesin an event of burglary or attempted burglary at your home while you travel.

4. Reimburse for the expenses incurred to get a duplicate or new passport, in case it gets lost.

5. Gives distress allowance for every 24-hour period your flight is unlawfully detained by hijackers.

6. Reimburse if your flight gets delayed for more than 12 hours due to a covered hazard. Automatically add seven extra days to the policy period in case of delay or unavailability of flights.

Medical benefit: 

1. Pre-existing condition or any complication arising from it in a life saving unforeseen emergency condition would be reimbursed up to $1500 per policy.

2. Compensates for the expenses incurred to transport the body from the place of death to India.

3. Reimburse for emergency transportation to a hospital, treatment and medical supplies. Also, pays you for expenses incurred on account of an injury, sickness, or dental treatment.

4. Finally, pays compensation for accidental death or injury taking place during the trip.

Hence, let your vacation be hassle-free and safe!

 

Source:- zeebiz

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