INDIVIDUAL TRAVEL HEALTH INSURANCE
Travel Insurance also known as Overseas Medical Travel insurance is a comprehensive Single Trip cover for an Individual going abroad on business or holiday trip. If you are permanently migrating from India, then you can buy insurance for two months and thereafter, get a policy from there. Not only does it provide coverage for Trip Cancellation, Loss or delay of Checked in Baggage, Loss of Passport etc. but also covers your medical expenses during your overseas stay. Some of the Travel Insurance Plans even provide coverage for burglary and/or robbery for your Indian home while you are away for your trip.
Overseas Travel Insurance Policy Features
Eligibility: Travel Insurance policy is available for all ages between 3 months to 70 years and senior citizens between 71 to 100 years.
Policy Duration: Cover trips from as short as 1 day to max of 360 days. Most of the Insurance Companies provides coverage for 180 days which can be extended for a further period of 180 days, provided there is no claim.
Policy Maximum (Coverage Amount): Various coverage options are offered in the range of US $ 10,000 to US $ 500,000 depending upon the country you are planning to visit. For Worldwide including and excluding USA & Canada plans, minimum coverage is US$ 50,000 and maximum coverage available is US$ 500,000 (5 Lakhs). For Asian countries, minimum coverage available is as low as US$ 10,000 and maximum coverage available is US$ 500,000 (5 Lakhs).
Note: Minimum coverage required for Travel insurance for Schengen Visa is EURO 30,000.
Max Trip per Policy: Only Single trip per policy period is covered.
Pre-existing diseases: Pre-existing ailments and maternity are generally excluded. There are a few companies which provide coverage in case of life-threatening situations i.e. until the insured's health is stable.
Deductible/Policy Excess: There is a Deductible/Policy Excess of 50-100 US$ depending upon the plans. This implies that for any claim, the first US$50-100 is to be borne by the insured.
Additional Coverage: Coverage includes Dental Treatment, Medical Evacuation, Repatriation, Baggage Loss/Delay, Trip Cancellation and Interruption, etc.
Medical Check-up: Medical check-up may be required depending upon the age of the Individual. Medical check-up is generally required for 70 plus individuals. There are plans offered by some companies with no medical check-ups up to 100 years with or without some limit on per illness or injury.
Renewal/Extension: Policy can be extended for another 180 Days if there is no claim in the expiring policy and subject to policy terms and conditions.
Premium: Plan Premium is based upon your destination, Coverage Amount, Age and duration of Trip.
Exclusions: General Physical Checkup, pre-existing conditions, Vision (Eye Test, Eye Glasses, and Contact Lens), Pregnancy and Prenatal Care is not covered by any of the Plans. Besides these, there could be other exclusions which are mentioned in the policy wordings.
Claim: In order to make a claim; you need to contact the Insurer or Third Party Administrator (TPA) of the Insurance Company, which has tie-ups with network hospitals worldwide. TPA information is provided in the Insurance policy.