General travel coverage
Travel policies typically cover medical expenses incurred while travelling, medical evacuation or repatriation costs, personal accident coverage, accidental death or disability coverage. In addition, they also cover loss or delay of luggage, loss of passport, delay or cancellation of trip, etc. It is extremely important to check the exact cover offered and compare it with other travel policies before buying one.
Specific Covid-19 coverage
This covers medical expenses incurred, if the insured is diagnosed and hospitalized with Covid-19 outside India during the trip. It also offers trip cancellation cover for the non-refundable portion of flight and hotel bookings, if the co-traveler or an immediate family member of the insured is diagnosed with Covid-19. Trip interruption costs may be covered if a trip had to be cut short because the insured or a family member contracted Covid-19. Cover is automatically extended for a period of time if a lockdown is imposed in the destination country.
The insured must declare pre-existing conditions at the time of purchasing the policy. Insurance policies also have a deductible amount that must be paid before the claim is paid by the insurance company.
Points to note
- Policies can be chosen as single-trip, multi-trip, or one-year travel insurance plans.
- It is mandatory to have travel insurance when visiting certain countries for the purpose of visa processing.
(Content on this page is courtesy of the Center for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)