Travel medical insurance caters to individuals who want to
safeguard their overseas and inland trips with an insurance coverage plan. This
is considered as the one of the best, prudent and wise ways to mitigate financial
risk in the event of any unfortunate incident.
Travel
Insurance Policies covers and protects you against health risk while
you are on the go. It has medical as well as travel risk coverage combined together
. For instance, it provides hospitalization coverage in the event of an emergency
hospitalization in a foreign country and also provides evacuation provision to transport
you back to your home country. The former can be ascribed to the medical aspect
of the policy while the latter can be attributed to the travel aspect.
A typical travel medical insurance will have the following core coverage:
Coverage
against accidents
Coverage against sudden illness
Coverage against emergencies (loss of belonging and delays in
schedule)
Moreover, overseas travel medical insurance also provides
for compensation in the event of dismemberment or accidental death during the trips.
However, there are certain exclusions to this feature like people engaging in adventurous
sports are exempted from receiving the benefit. Nowadays many insurance companies
have started offering the cover for this as well by charging an extra premium.
All travel insurance holders are covered round the clock on their trip
and the coverage span begins the moment the insured embark on the said journey.
One must however be cognizant of the fact that apart from the itinerary specified,
if the insured person digresses from the continuity of the trip then it will not
be covered by the travel medical insurance provider.
Some occurrence
that are not covered by travel health insurance:
Attempt at self-destruction i.e. suicide
Terrorism
War
Nervous and mental problems, etc.
Apart
from this, the conditions specified by the insurance provider in the policy document
must be met satisfactorily in order to be able to claim the benefits. One must therefore
be cognizant of the above mentioned facts regarding travel insurance, as these are
of critical importance and will help the individual a long way in the process of
selecting the policy as well as while making claims .