Best Travel Insurance Plans in India
In today’s global exposure, travelling has become an inevitable part of life. For leisure, holidays, and education or for business purposes, one has to travel through national or international boundaries. In that case, travel insurance becomes a necessary part of your kit. What is travel insurance? Is it mandatory to take travel insurance while travelling abroad? Which are the Best Travel Insurance Plans in India?
Also Read: Best Health Insurance Policy in India
What is travel insurance?
Travel insurance is a short-term insurance, which provides cover against all the travel-related emergencies. When one is travelling, they are exposed to many threats like sudden illness, accident, lost luggage, missed passport, flight delay or cancellation etc. which might spoil your trip. Travel insurance takes care of all these contingencies. It covers not only health, but provides a comprehensive package to ensure your peace of mind while travelling.
Is it mandatory to take travel insurance while travelling abroad?
The factor of compulsion of travel insurance depends upon the destination you are heading. Only the 15 Schengen countries insist on travel insurance. These are Austria, Belgium, Denmark, Finland, France, Germany, Iceland, Italy, Greece, Luxembourg, Norway, Portugal, Spain, Sweden and The Netherlands.
The countries of USA, Canada, and Australia have made Travel Insurance mandatory for those who are 60 years or above. For others, it is not mandatory. So, most of the people make this mistake of not taking travel insurance. But, for a safe and peaceful journey, it is always better to safeguard himself/herself against the risks associated with the travel. In case of business travels through a company, they would provide the travel insurance as a mandatory requirement.
10 Best Travel insurance plans in India
Here are some of the top travel insurance plans in India
1) New India Overseas Mediclaim Policy
This policy offers benefits to those who make frequent foreign trips. In this policy, you pay the premium in the local currency while the claims are settled in foreign currencies. The person who is between the ages of 18 to 65 years can take the policy. Children between the age of 3 months to 18 years are covered provided that one of their parents or both are covered. The policy specifically covers the hospitalization charges. It does not include the outpatient expenditure. You can refer this link for more details about this plan.
2) Overseas Insurance Mediclaim from Reliance General Insurance
It is provided by the Reliance General Insurance. The Medicare expenses and hospitalization charges are rocketing high due to the strict Food and Drug Association (FDA) norms in these countries. As the name suggests, it covers you against the risk of hospitalization in the overseas countries. Besides that, it also protects you against the losses of baggage, cancellation of flights, loss of passport, and much more. There are 4 variants in this viz standar, gold,silver, platinum plans. There are specific travel insurance plans for frequent travellers, student travellers and Sr. Citizen Travellers. You can refer more info about this plan at this link.
3) Apollo Munich Easy Travel Insurance
Apollo offers a variety of travel insurance- for individuals, for family, for senior citizens and for multiple trips.
For an individual- this insurance is for individuals that fall within the age group of 6 months to 70 years. The duration of policy is up to 180 days. The daily cash benefit is offered to those who are hospitalized for more than 24 hours uninterruptedly.
For family- if you are going for a leisure trip with a family, the company provides for a single insurance plan for the entire family instead of single travel insurance for the individuals. It includes two adults and two children (who are below the age of 21 years).
There are plans for Sr. Citizen plans, Annual Multitrip plan and for students.
4) Future Generali Travel Suraksha Plan
The company offers a wide array of travel plans for individuals, families, or students. The company provides for a global service and hospital network for the convenience of its customers. The company claims to provide claims within fourteen working days. The company has few specific plans for particular geographical regions. You can refer more info about this plan at this link.
5) Bajaj Allianz Travel Insurance
The company provides a distinctive range of travel insurance for domestic, travel, for individuals, for families, for senior citizens and for students. It provides the facility of on-call support 24 hours a day. The company is well known for its ability to settle the claims faster.
6) Reliance Annual Multi-trip insurance plan
This plan is designed specifically for those people who love to travel a lot and makes frequent trips. An individual can get this travel insurance for six months, which can be extended, at the insurer’s discretion.
7) Chola MS business/ leisure travel insurance plan
The company provides the customized as well as fixed travel plans to suit the individual requirements. It is a great travel insurance policy that provides a comprehensive protection against sudden illness, loss of documents or baggage. For international travel claims, emergency assistance is available round the clock. It also provides for the student travel protection plan.
8) Max Bupa International Medical emergency plan
This plan covers all types of insurance covers like leisure, study or business travel. It provides medical assistance to policyholders through the entire world. It makes sure that emergencies outside India are taken care of with their wide range of medical hospitals. An emergency service of 24 hours is extended to provide advice on his/her choice of network hospitals as well as to settle claims.
9) Tata AIG Travel Insurance
One can choose from the four plans, namely- Travel Guard, Student Guard, Asia Travel Guard Policy and Domestic Travel Guard Policy. The policies speak of a wide coverage of risks, quick response and fast settlement.
Also read: Max Life Online Term Insurance Plan Review
10) Bharat AXA Travel Insurance
Under this plan, the age limit of travelers is 3 months to 60 years. It gives you security against uncertainties at a nominal cost. There are different plans available for different situations like an individual, group travel, family, student, multiple trips etc.
Conclusion: Travelling is a beautiful experience, but it can be turned to be a nightmare if some unlikely incident happens. You may not be able to control those disruptions, but you can definitely minimize the financial loss by taking the travel insurance. Almost all the renowned companies are providing this insurance nowadays. One must definitely opt for it, but after reading its clauses carefully and determining his personal needs.
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Suresh
Best Travel Insurance Plans in India
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Great article !!
Dear Suresh,
Very useful article.
Is any of the above plans cover 60-70days abroad travel.
Thank you,
Hi Suresh,
Very beneficial to the travelers.Good article.
I am Planning for 65days trip to Maldives to join to my family on school vacation time in April/May2019…..
Which of these plans supporting 65days abroad trip.
Kindly help.
Thank you,
I always prefer to have travel insurance even when I travel within the country. Usually I was buying it with air tickets. But this time I was starting my flight from a different city than my home city and hence I wanted to take an individual insurance. I searched a lot for an online domestic travel insurance. Tata AIG has a plan for domestic travel, but could not buy online. Universal sompo has online page but could not complete the transaction even after several attempts. After a lot of research I got it from bajaj allianz. I believe travellers and insurers both should give importance to even domestic travel insurance. It saves a lot of money even in case of flight cancellations, baggage delay etc at the price of a cup of coffee.
Thank you Suresh