1. What is Overseas Travel Insurance?: when you travel outside of the geographical area of Republic of India, you need a policy which will pay you in the currency of the country in which you are travelling for any accidental injuries or illness, sickness. Travel Insurance provides you and your family medical, financial and other assistance in case of an emergency or untoward circumstances while travelling on an International Trip.
What makes travel insurance important:.
No matter whether you are a business traveller or a leisure traveller: Overseas Travel Insurance protects you against medical emergency or an Accident from unfortunate events such as:
2. Few reasons are mentioned below which will help you in understanding the importance of Travel Insurance:
a. Loss of Baggage
b. Loss of Wallet
c. Loss of Passport
d. Missed Flight
e. Medical Expense
f. Personal Accident
3. How many plans are available? : PLAN for Single Trip, Multiple Trips, Travelling excluding USA and Canada, worldwide coverage and also a Family Floater Plan with various Sum Insured options to choose from.
4. What are eligible criteria ? Travel Insurance policy is available for all ages between 6 months – 70 years.
5. How Travel Insurance Premium is calculated?
The below mentioned factors affect the overseas travel insurance premium
a. Sum insured: Sum insured is the amount of money which is promised by the Insurer or the Insurance Company. Your Sum Insured helps in deciding your premium.
b. Type of insurance plan: Varieties of insurance plans are offered by the Insurance Company to suit your needs. You can choose travel insurance for individual, students or family as per your travel requirements.
c. Tenure of the trip: The duration of trip affects the amount of premium to be paid. The longer the trip, higher would be the premium. Similarly, shorter the trip, lesser would be the premium. It is advisable to go for a multi-trip policy, if you plan to go twice or thrice to the same or different place during the same year.
d. Health and Age of the insured: Most important factor affecting premium would be health and age of the insured. Younger the age, lower would be the premium in comparison to senior citizens.
6. Does one have to go through the medical examination: Depending upon the country you visit different insurance company has different age bracket beyond which medical examination is compulsory. Or for any adverse medical history, you will have to submit medical reports irrespective of trip band or country to be visited
7. Normally what are the Medical reports to be submitted to insurance Company?
a. Blood Sugar PP & Fasting
b. ECG report with tracing
c. Echo Cardiograph report
d. USG Whole Abdomen
e. Doctors certificate with all details of past ailment & present medication, if any doctor’s certificate for fitness to travel
8. What if the medical reports are not submitted to the Insurance Company ? In case the proposer is unable to submit the medical reports, the medical Sum Insured will be restricted to US$ 10,000 for all plans.
9. Does the Policy cover pre-existing disease ? This policy does not cover pre-existing diseases. A ‘Pre-Existing Illness’ is one with which the person is already suffering from before he buys the policy
10. Can foreigh national be covered under the Policy ? Foreign nationals working in India with Indian employers of multinational companies, getting salary in INR can be covered subject to verification of ID Card and Income Tax verification.
11. Can Policy be extended ?
Extensions under the plan shall be provided, subject to the following:
· The original policy period has not expired
· There is no claim on the original policy
· Declaration of good health
· Extension can be effected only once on the policy
· Extension in days not to exceed 180 days
· The total extension including the original period should not exceed 360 days
· Extension premium has to be paid before actual extension is effected
12. For how many days Policy can be extended ?
a. Single Trip Including USA/Canada (Worldwide) & Single Trip excluding USA/Canada:
The Policy may be extended maximum up to 180 Days. The total policy period including extension should not exceed 360 days.
b. Single Trip Asia excluding Japan:
The Policy may be extended maximum up to 30 Days. The total policy period including extension should not exceed 60 days.
c. Single Trip Family Floater excluding USA/Canada
The Policy may be extended maximum up to 60 Days. The total policy period including extension should not exceed 120 days
IS Overseas Travel Policy mandatory ? Travel Insurance is not mandatory in India. However it is mandatory in UK and countries like Austria, Greece, Portugal, Spain, France, Germany, belgium, Luxemburg, Netherlands.
13. Can the Policy be cancelled? The policy may be cancelled via request on Email The intimation of policy cancellation has to reach Insurance Company latest up to 14 days from the inception date of the policy. If the policy has already incepted, a copy of all 40 pages of the passport needs to be submitted as a proof that the journey has not been undertaken. Cancellation charges of Rs. 250/- shall be applicable and the balance shall be refunded.
14. If you return India earlier then can I have the refund? No refund is allowed for an early return to India.
15. Will the claim be settled on return to India ? Except in the case of Hospitalization, claims are settled once the Insured is back in India
16. Is Loss of Passport covered ? Yes, passport loss is covered in the policy. It is covered under the benefit of ‘Loss of Baggage and Personal Documents’. The assistance provider helps in contacting the consular authorities in case of the loss or theft of an Insured Person’s passport, and arranging for its replacement.
17. Does the Policy cover loss of Debit card/credit card, Forex card ? The Company shall not be liable to pay any benefit in respect of loss of cash, bank or currency notes, cheques, debit or credit cards.
18. What is covered under checked in Baggage? This benefit will reimburse the Insured Person the cost of replacement of the articles if the Checked in baggage or Personal documents are permanently damaged or lost.
19. What is covered under delay in checkedin baggage? This benefit will reimburse the Insured Person the cost for the purchase of necessary personal effects like toiletries, clothing, medication etc. while the delay beyond 24 hours of checked baggage has occurred.
20. What is benefit under hijack distress allowance? If the Common Carrier in which the insured Person is aboard is hijacked, the Insurance company agrees to pay to the compensation for every six (6) continuous hours in excess of the Deductible.
21. Are Ambulance charges covered under the Policy? Emergency Medical Expenses includes ambulance service (to or from the Hospital).
22. What does medical repatriation or evacuation charges cover? Emergency Medical Evacuation means arrangement for transportation required to move an insured to the nearest hospital.
Medical Repatriation means arrangement for transportation required to move an insured to his/her country of residence following an emergency.