Why Do You Need Travel Insurance?
The general insurance companies in India offer a spectrum of insurance services, which also includes travel insurance. However, a travel insurance policy is a completely neglected version of insurance, especially from the perspective of the traveling folks. Therefore, Travel Insurance should ideally be mandatory. However, it isn’t compulsory in India.
So what exactly is Travel Insurance or international travel insurance? And why does one need it?
Travel insurance is an insurance intended to cover medical expenses, trip cancellation, lost luggage, flight accident, and other losses incurred while traveling. Travel insurance can usually be arranged at the time of booking of a trip, to cover the aforementioned expenses during the duration of that trip. Alternatively, for frequent travelers, a “multi-trip” policy can be opted for, to cover an unlimited number of trips within a set time frame.
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A lot of companies offer travel insurance, so also credit card companies. If travel arrangements are paid for by making use of their credit cards, automatic cover is extended towards travel. However, these policies are generic and may or may not take into account personal requirements. Therefore, a comprehensive study needs to be undertaken to compare the various offers on list. As per ones travel plans, every travel insurance plan can be customized and tailor made to suit the insured.
There are many travel insurance policies available in the market. Therefore, care must be taken with respect to what is covered by each policy, the exclusions, exceptions, and other issues.
As to why one needs the Travel Health Insurance, we can understand it best with the example below.
A young woman was traveling to Europe suddenly experienced uncomfortable bowel movements and vomiting episodes. After the initial first-aid, that she had carried, failed to provide relief, she approached the medical fraternity there. She was found to be suffering from gastroenteritis, and also showed signs of a mild swelling on her intestine and liver. While this was not life-threatening, the expenses incurred on tests and admission still amounted to a whopping 10,000 Euros. It was beyond thinkable for the family if they had to bear these expenses on their own. However, the travel insurance policy that she had made before her travel, helped tremendously, without burning a deep hole in her own pocket.
Similarly, a young businessperson from India recently suffered a massive cardiac attack and collapsed in the flight even before reaching his first pit stop. Panic sure took over him for a short period. However, the travel insurance cover that he had, kept him fine within minimum cost and with best medical help at his disposal. The subsequent tests confirmed hypotension, disorientation and fractured artery. This needed some immediate emergency treatment, which wasn’t available as readily. He needed to be brought back to India on an air ambulance, the cost of which is unthinkable at times. But the travel cover that he had, covered him for more than $ 50000, which if he had to be bearing on his own would sure burn a holy heart.
