Going on a vacation without any pre-planning
does seem adventurous, but one of the most ignored aspects of an international
trip planning is travel insurance. The travellers don’t realise that the cost
of treatment of a simple stomach infection abroad might just become more
expensive than the cost of their trip. Normally a health insurance cover bought
in India does not hold valid on foreign land for your healthcare needs unless
specially provided for in your health insurance policy. Domestic health
insurance and travel insurance are not the same.
Travel insurance does not just take care of
your medical expenses but also other situations that could arise. These include
flight cancellations, loss or delay of baggage, stolen passports, trip
cancellations, terror attack and more. Who would not like to avoid additional
expenses on account of these incidences?
Travel insurance is easy to buy and can be
purchased online. One should always shop around before buying a policy. The
reason is that travel insurance, while a standardised product still has many
catches to look out for.
Pre-Existing Conditions
One
aspect to look for is the cover for pre-existing conditions. Some insurance
companies will cover a health emergency caused due to a pre-existing situation
and others won’t.
Incidental Cover
An
airline needs to get you to your destination as a part of your contract with
them. But there are many clauses where the airline is not obliged to reimburse
you in case there is a cancellation or delay beyond their control. The terror
attack on twin towers left many passengers stranded across many airports of the
world. In such a situation, one could end up spending a lot of money on hotels,
meals and alternate travel arrangements. Here, the insurance company would have
stepped in to reimburse the incidental costs.
Trip Interruption Benefit
Travel
insurance policy would also compensate if there is some sort of an issue midway
through trip that causes you to curtail your stay. Under the trip interruption
benefit, the travel policy would cover you up to a prespecified limit for
expenses. If you were in Sri Lanka when the bomb blast occurred on Easter
Sunday and you had to head home with a first flight, you get trip interruption
benefit.
Choose Your Plan Wisely
If you
are a frequent international traveler, you might want to buy an annual plan
that covers multiple trips or single trip insurance if you don’t travel as
often. It would work out cheaper for business travellers to have an annual plan.
On-The-Spot Assistance
It’s
important to check that you are buying a policy which provides you with
on-the-spot assistance on the foreign land. Managing money when you are on a
foreign land might be difficult if you opt for a policy which asks you to pay
off front and get reimbursed later.
So, the next time you pack your bags, make
sure you spend some time in buying a right travel insurance plan and avoid
unforeseen expenses when you are on a foreign land. Hope you never have to use
this policy.
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