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The Best Travel Insurance Plan
What is Travel Insurance?
Travel Insurance has the solution to the all above problems. Travel Insurance means insuring the risks of having a financial loss or a medical emergency while traveling. In case of a medical emergency, your travel insurance will pay for the medical expenses incurred while undergoing treatment abroad. You do not have to worry about the exorbitant medical bills which will taken care of by the insurance company. There are other benefits of cash allowance for delayed flights and loss of baggage, theft of your belongings etc. It pretty much covers all the standard risks involved while traveling abroad.
What is Travel Insurance Premium Calculator?
Travel Insurance means insuring the financial risk involved while operating the Travel. The Travel might meet with any damages, accident or may be lost or stolen. In such a situation the losses borne by the owner may be compensated by the insurance company if the same is covered under auto insurance policy. Under the provisions of Auto Vehicles Act all the vehicles, which are operating in public places should have a Travel insurance policy at least to cover third party liability as specified under the Act. It means that the Travel insurance must cover the third party in case of any accident. It may or may not cover the damages of the owner of the Travel.
Who Should Buy Travel insurance?
Travel insurance is a must-buy for a person
- who is the bread earner of the family
- who has major financial responsibilities such asTravelren's education or wedding expenses to be incurred in the future
- who doesn't have sufficient savings or investments but wants to safeguard financial sustenance of his family
- who has debts such as a home loan
Eligibility Criteria to buy Travel Insurance Plan
General eligibility criteria for buying Travel Insurance are -
Indian (NRIs & PIOs can also purchaseTravel Insurance plans from various Indian insurers)
Most insurers require you to undergo certain medical tests.
Both smokers & non-smokers are eligible to buy.
Buyer must possess basic KYC documents.
Best Travel Insurance Plan In India in 2023
These are a few of the best Travel insurance plans available in India. You can get various Travel insurance comparisons on MyInsuranceClub.
Max Life Smart Travel Plan
HDFC Life Click 2 Protect
ICICI Prudential iProtect Smart
Sampoorna Raksha Supreme Instaprotect
Smart Protect Goal
Mera Term Plan Plus
Kotak e-Term Plan
What are the types of Travel insurance plans in India?
There are 2 types of Travel insurance policies.
This is for ONE single trip to and from from India. The moment you return from your trip to India, the policy is validity is over. An example of single trip could be a leaving India for a trip to Singapore, traveling to Thailand from Singapore and then returning from Singapore or Thailand to India.
This is more for a frequent traveler who makes multiple trips throughout the year. It is ideal for businessmen who make more than one trip in a year to specific locations. You can make as multiple trips to an fro from India within the period of ONE year.
Decreasing term insurance is a type of term life insurance with the cover decreasing over the life of the policy at a predetermined rate. If you want your life insurance to cover a temporary financial liability, you can purchase a decreasing term plan.
TROP - Term with Return of Premium
TROP pays back the total annualized premium excluding taxes at the end of the policy tenure if the insured survives.