While planning trip abroad, make sure to buy travel cover

: With the travel season in full swing, trips abroad have already been planned by many, whether students planning to study abroad, or families going for an annual vacation. However, not everyone buys a travel insurance. Every year over 4.5 million people travel abroad but the awareness about buying the travel insurance is low. Till date, the current penetration for travel insurance of the total population travelling abroad is quite low, which shows that very few people opt/ buy travel insurance while traveling overseas.

Karan Chopra, Head-Retail Business, HDFC ERGO, says, “a travel insurance policy ensures complete peace of mind and allows customers to enjoy the travel experience fully, with the assurance of support being available in a foreign land in case of unforeseen eventualities.” Experts believe that the travel policies are booked without even knowing what all it covers & what all is excluded. It is important however to understand a...travel insurance policies and read its fine prints.

Available options

A travel policy premium is dependent on the country to be covered. Majorly there are three categories: Asia/ worldwide, worldwide excluding USA, and Canada. You can buy an individual or a family floater policy from an array of different types of policies, like single, annual, multi trip or leisure trip. Travel policies have more or less common features. While most of the policies cover till the age band of 70 years, few of them give cover beyond this age as well. Tapan Singhel, CMO, Bajaj Allianz General Insurance suggests, “While selecting a travel insurance plan, ensure that the plan covers all possible travel-related risks like hospitalisation and medical expenses, loss of baggage, loss of passport and personal liability.” To differentiate between insurers you need to compare factors like: limit

Websites such as policybazaar, and apnapaisa, help you find comparative quotes from insurers. For example, a travel policy for single trip for a person aged 30 years for a destination excluding USA/Canada for 5-7 days and covering for 50,000 USD will cost in a range of Rs 250 - 700. Most of the travel policies can be booked online minutes if you have all the details handy. Documents needed are the proposal form and the passport copy.

Common exclusions

Terms and conditions are all listed in the policy wordings on the website of all the companies. Major exclusions under medical emergencies are as follows:

* Planned treatments abroad.

* A pre-existing condition unless for life saving unforeseen emergency.

* Treatment which could have been delayed until the insured person’s return.

* Any treatment of cancer, orthopedic, degenerative or oncology diseases, unless immediate medical treatment was required in order to maintain life or relieve acute...