All You Need to Know About International Travel Insurance Coverage and Medical Expenses in Abroad

All set for your trip overseas with your visa, perfect accommodations booked, a list of must-visit places, and a big smile on your face. Do not forget to buy international travel insurance which is just as important. Travel insurance is mandatory for visiting several countries. It does not matter if you are going overseas for the first time or have abundant international travel experience. There are certain risks associated with travelling to a foreign land that you must consider and prepare for before planning your trip.

This blog acts as a guide for people planning to go abroad and answers international travel insurance-related questions.

Do I need health insurance while travelling internationally?

Whether you are a frequent flyer or a student going abroad for higher studies or a family going abroad for a vacation. Having health insurance is paramount as most domestic health insurance policies do not provide coverage outside your native country. Several countries do not allow visitors to enter without having travel insurance. International health insurance is a safety net that saves you from unwanted expenses that you have to bear in case of any untoward incident abroad. Health insurance helps you cover the exorbitant healthcare costs of the country you are visiting.

How does travel destination affect the policy?

The travel destination is one of the major factors that affect the policy. The premium you pay for your health insurance is directly proportional to the country you plan to visit. There are several other factors such as age, health status, duration of the trip, and add-on features you might need that impact the insurance premium. Also, countries with expensive healthcare such as the US and Canada, have higher premiums. Even the countries which are prone to natural calamities or considered politically unstable have high insurance premiums.

What does insurance abroad cover?

International travel insurance has several benefits ranging from baggage-related cover to medical expenses coverage. It is designed to provide a host of benefits under one policy. Listed below are some of the advantages of buying international travel insurance.

Medical-related coverage

• Emergency medical expenses

• Accidental death

• Hospital daily cash allowance

• Medical and body repatriation

Baggage-related coverage

• Loss of luggage

• Loss of personal documents

• Delay of checked-in luggage

Journey-related coverage

• Financial emergency assistance

• Flight delays

• Personal liability

What’s the difference between travel insurance and medical insurance abroad?

There are various similarities between travel insurance and medical insurance abroad which often leads to confusion. While both types of insurance provide coverage to people travelling abroad, the intended purpose of both the products is different.

International travel insurance is designed for travellers going overseas for a short term. It provides coverage for the issues which are travel-related such as loss of baggage, emergency medical expenses, flight cancellations, etc. On the other hand, international medical insurance is apt for people planning to stay overseas for a prolonged period. If you are working abroad or a student going overseas for higher studies, it is prudent to have international health insurance. It covers medical emergencies as well as routine health check-ups.

Choosing the right type of insurance

Choosing the insurance that suits your needs is just as important as understanding the value of international travel insurance. Several factors such as the purpose of travel, destination, duration of travel, etc. help you choose the right insurance. An individual travelling abroad for work would have different needs as compared to someone with adventure travel on their mind. Keep the following points in mind when choosing the right insurance.

1. Duration of travel

2. Travel destination

3. Purpose of travel

4. Pre-existing medical conditions

5. Limits of insurance coverage

6. Policy exclusions

Does International Travel Insurance cover all Medical Expenses Abroad?

International travel insurance provides a wide variety of cover ranging from emergency medical expenses to dental care. But certain expenses are not covered under the insurance policy. Medical expenses arising from self-inflicted injuries, pre-existing diseases, injuries sustained by indulging in adventure sports, etc. are not covered under the insurance policy.

Conclusion

As more and more people around the world get vaccinated, the travel and tourism sector is slowly coming back up. In the post-covid world, many countries have formulated strict rules and regulations regarding international travel insurance. Most countries have adopted the living-with-covid model to support the tourism sector. But one thing that has gained value now more than ever is the requirement of international travel insurance when planning to travel both domestically and abroad.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.