5 reasons why you must have a travel insurance plan for every vacation
04 Mar, 2014 01:01 PM
Remember, even for the most meticulous planner, things may go awry due to events beyond his control.

It maybe the time you have already begun planning for your summer holidays! A spate of fare cuts offered by various airlines for summer travel has advanced the planning process for many this year.

While it is important to meticulously plan every aspect before you embark on a trip, it is possible that things may still go awry due to events beyond your control. You could fall ill, lose your luggage or passport, have a flight delay and so on. For a complete bailout from such unnerving foreign travel experiences, you need a travel insurance policy. It doesn’t take much of an effort, you can buy a travel insurance policy by making a single phone call.

Very often people spend a lot of time discussing and finalizing the ideal destination, local activities, things to pack and itinerary but forget to buy an insurance policy. Every bit of this planning is important to make your vacation enjoyable and relaxing.

A travel insurance policy usually cover most of the eventualities possible, such as emergency medical expenses, medical evacuation, repatriation of remains, accidental death and permanent total disability - common carrier, flight delay, financial emergency assistance.

In case of theft, pilferage, robbery or dacoity of the insured’s travel funds a fixed amount is paid as emergency assistance up to the limits specified under the Policy. Also, compensation is paid to the third party for damages resulting from death, injury or damage to health or property caused involuntarily by the insured. The policy pays a daily allowance in the event of hospitalization either due to sickness or accidents.

In case of flight delay by more than 12 hours than the original scheduled departure time and other travel-related exigencies, the policy will compensate the insured. In case of loss of passport, the policy covers the expenses incurred in obtaining a fresh or new passport. In case of permanent loss of checked-in baggage or for the purchase of toiletries, clothing and medication due to delay of checked-in baggage for more than 12 hours the insured is paid compensation.

The policy will help you cover medical expenses if you fall ill or get injured while traveling. It covers outpatient, in-patient, medical aid, therapies and diagnostic tests as described in the policy schedule. The policy also provides coverage for medically necessary evacuation and transportation to medical facilities. Evacuation to the home country is covered up to the medical sum insured chosen. This becomes extremely useful when you become stranded in a remote rural area without easy access to needed facilities.

The insured is paid the cost of hotel accommodation, if the insured person sustains bodily injury or sickness resulting in a hospital stay as an in-patient and misses his/her flight back to the country of residence.
In case of death of the insured overseas, funeral expenses or expenses of repatriating the remains back to India are also paid. The insurer will pay the sum insured specified in the schedule if the insured sustains accidental bodily injury during the course of the journey while travelling in a common carrier like bus, train or flight and if such bodily injury results in death or permanent total disability.

The policy also offers coverage in the event of the hijack of the common carriers in which the Insured Person is traveling whilst on the trip abroad during the period of Insurance. An allowance will be paid for each day of the hijack.
Source : Money Guru India

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