Travel insurance is that aspect of your overseas travel that must be given its due importance.
The fact that more and more people are now buying overseas travel insurance in India is indicative of the rising trend as well as the increased awareness among the travelling class. Overseas Travel Insurance, also known as foreign travel insurance is an effective means of insuring your foreign trips from uncertain events which are part of everybody’s life.
Most people are however not aware of the scope of overseas travel insurance and therefore find it difficult to choose a policy from various options available, Here is a list of things that typical foreign/overseas travel insurance must have in order to provide you with comprehensive coverage on your trips abroad.
It provides for emergency medical expenses that may arise out of sudden illness or as a result of an accident. It also covers cost of diagnostic tests, therapies, outpatient, in-patient and medical aid.
It provides a cover for emergency medical evacuation to the home country
It covers expenses towards funeral cost and the expenses that arise for repatriating the remains of the insured to their home country.
Compensation in the event of delay in flight schedule, loss of passport and loss of checked baggage are also covered
It provides compensation for accidental death or permanent total disability for the insured while travelling on a common carrier such s rail, bus or aircraft.
It provides personal liability coverage for the insured by paying compensation to third party for damages resulting from involuntary actions of the insured.
It pays for the hotel accommodation if the Insured Person gets sick or sustains Bodily Injury which results in a Hospital stay as an in-patient and misses his/her flight back to the country of residence.
It provides financial emergency assistance in case of financial exigencies such as robbery, pilferage, theft or dacoity of travel funds. Usually a fixed amount is paid as emergency relief.
It also provides cover for distress caused due to hijacking of the common carrier in which the insured was travelling while on a trip abroad. Compensation of a specific amount is paid for each day of the hijack.
One must however note that, each of the above provisions is simply indicative in nature, one must carefully read the policy document to ascertain these covers. Moreover, different overseas travel insurance policies have their own set of features and benefit. To learn more about such policies, one must do overseas travel insurance research online and broaden their wisdom and make informed decisions.