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Your Guide To Travel Insurance and How To Apply For a Travel Insurance

by BankingTricks Desk
Travel Insurance

One can travel abroad for different reasons – education, work or fun. While traveling, incidents like loss of baggage or passport, medical emergency, flight cancellation are normal. This is when a travel insurance policy comes to the rescue by giving money related protection against dangers and losses encountered during the trip.

What Is Travel Insurance?

Travel insurance provides coverage for the expenses and damage associated with traveling in India and abroad. It covers money related loss due to numerous unforeseen events like theft, death, medical emergencies, loss of luggage, flight delay, etc. that one generally tends to overlook while arranging the excursion or a trip.

Types Of Travel Insurance

Travel insurance can be put under different categories. You can choose it as indicated by your need and requirement. Following are the types of travel insurance you can purchase while traveling:

  1. Student Travel Insurance: The student travel insurance plan offers medical and budgetary guide to students traveling abroad for their education. This arrangement will cover sudden medical or money related emergencies faced by students in a new nation all through their remain. It very well may be availed by a student who is already seeking after education abroad or by a student intending to go overseas for studies.
  2. Domestic Travel Insurance: If you are traveling anywhere within India, you can profit domestic travel insurance. Under this arrangement, one gets the medical and budgetary guide for medical emergencies, loss of baggage, delay and cancellation of the trip, etc.
  3. Family Travel Insurance: Family travel insurance can be purchased for all direct relatives of the policyholder. This policy covers accidental costs, emergency clinic allowance and the loss of baggage.
  4. Senior Citizen Travel Insurance: It is a comprehensive arrangement for people in the age gathering of 61-70 years to make their travel a pleasant experience. It provides coverage for medical services, healthcare facilities and pre-existing conditions.
  5. Gathering Travel Insurance: If you are a gathering of 20 or more people, you can purchase bunch travel insurance plan. It covers trip cancellation, baggage loss or damage, medical evacuation and delay of trips.
  6. International Travel Insurance: This type of travel insurance is taken while traveling outside India. This is further divided into different types for different regions and countries. For instance, a travel insurance required for Middle East would be different from the one needed for traveling to the US. The 2 basic types of international travel insurance are:
  7. Schengen Travel Insurance: It is compulsory to purchase Schengen travel insurance on the off chance that you are traveling to 26 countries under the Schengen countries like Austria, Denmark, Czech Republic, Finland, France, Poland, Germany, etc. The policy covers medical emergency services, all day, every day assistance, accident or injury coverage, death and incapacity cover, repatriation, etc.
  8. Asia Travel Insurance: If you are traveling to Asian countries, you can pick Asia travel insurance. Under this policy, your medical and other unexpected expenses will be covered

What Travel Insurance Covers?

The coverage offered by insurer varies for different providers. Following are the most well-known considerations under travel insurance policy:

  1. Loss of baggage and personal documents
  2. Loss of identification
  3. Emergency medical expenses
  4. Repatriation of human remains
  5. Medical clinic money allowance
  6. Accidental death or permanent absolute handicap
  7. Commandeer distress allowance
  8. Compassionate visit of relatives
  9. Personal liabilities, in case of injury or damage to outsider
  10. Delayed trip and missed flight connection

How Travel Insurance Functions

  1. An individual should purchase travel insurance before traveling either abroad or within India irrespective of the purpose for traveling
  2. Make sure to read the guidelines, terms and conditions carefully to know the coverage suitable in your case
  3. While traveling, in case of an eventuality, you would need to file a case
  4. Provide the necessary documents to the insurance organization for processing the case. The process is different for different types of cases
  5. One can pay for the necessary expenses in the event that it is covered under the insurance. Later, the sum will be reimbursed by the insurance organization

Eligibility Criteria

Travel insurance has different types of plans under its umbrella, so eligibility criteria and age breaking point will likewise differ from policy to policy. Let’s understand this.

  1. Family travel insurance plan: It covers two grown-ups up to the age of 60 years of age and their two children as long as 21 years of age.
  2. Student travel insurance plan: Students between the age of 16 and 40 can purchase this arrangement who are reading abroad for their higher education.
  3. Senior citizen travel insurance plan: This arrangement is for senior citizens as long as 85 years of age.
  4. Schengen travel insurance plan: To be eligible for Schengen travel insurance, grown-ups ought to be up to the age of 70 years and newborn children must be older than 90 days.
  5. International travel insurance : It offers coverage for two grown-ups who ought to be up to the age of 60 and two children as long as 21 years.

Guarantee Process

  1. In case of an emergency during your trip, illuminate the insurance organization by calling or emailing them.
  2. To get in touch with them, use the contact details of the insurance organization like a cost free number or the email address mentioned on the policy document
  3. Cases Service Representative will help you register the case, understand the process to file claims and the supporting documents required for that specific coverage
  4. Download the relevant case structure
  5. Present the appropriately filled in guarantee structure and the supporting documents
  6. The documents will be assessed by a surveyor appointed by the insurance organization
  7. After an assessment, the organization will decide whether to accept or reject the policy

Documents Required to Process Claims

Different circumstances would need different sets of documents. Some of the essential documents which need to be submitted to the insurance organization to process claims are:

  1. Unique id
  2. Copy of the identification showing travel dates
  3. Guarantee structure
  4. Unique bills, receipts and vouchers
  5. For medical cases – medical practitioner’s interview notes, unique affirmation/discharge card, bills with prescriptions
  6. Emergency travel certificate and new identification copy (in case of loss of passport) #
  7. Details of compensation provided via Airlines, assuming any (in case of loss of checked baggage)
  8. Letter from policyholder refering to the reason for the cancellation of trip
  9. Copy of cancelled check

Note: This isn’t an exhaustive rundown and insurance organization may request extra documents.

Time Taken to Settle Claims

On the accommodation and acceptance of the required documents, it will take approximately 15 working days for the last settlement of the case.


Travel insurance does not cover all the cases and circumstances that you may face while traveling. The insurance won’t be liable to pay if the case has been raised due to the accompanying conditions:

  1. Pre-existing medical conditions
  2. Radioactive injuries
  3. Deadly games injuries
  4. Self-induced injuries
  5. Traveling by means of transportation that isn’t licensed to convey passengers
  6. Surgery expenses unless it occurred due to an accident
  7. Loss of baggage, if not reported within 24 hours of the incident
  8. Halfway loss of checked baggage
  9. Medical emergencies regarding pregnancies like premature birth or miscarriage
  10. Claims due to war breakout
  11. Medical emergency caused due to liquor utilization
  12. Asserting treatment other than allopathy

Companies Offering Travel Insurance In India

Some of the insurance companies offering travel insurance in India are as per the following:

  1. Cholamandalam
  2. Bharti AXA
  3. SBI General
  4. Future Generali
  5. Apollo Munich
  6. HDFC Ergo
  7. IFFCO Tokio
  8. Bajaj Allianz

Significant Aspects

All travel insurance plans don’t cover all the aspects of travel dangers. The aspects which are not covered may frustrate you. Below are some of the aspects which one should think about travel insurance:

  1. The case might be rejected in the event that you change your travel itinerary due to personal issues
  2. In the event that you have pre-existing health condition, you won’t be insured for that specific condition
  3. You need to give genuine evidence for your case. In the event that it is realized that your sickness was self-induced using any and all means, your case won’t be approved

Advantages Of Buying Travel Insurance

  1. Medical expenses: When you are traveling abroad or within India, emergency clinic expenses is the exact opposite thing we need to spend on. A travel insurance covers the danger of unwanted expenses for cases like injuries, surgeries, and emergency medical evacuation. Depending on the arrangement you have chosen, you may get a day in and day out care service that will cover your traveling expenses to the nearest medical office.
  2. Baggage misusing: It is regular for the baggage to get misplaced, stolen, or mishandled duting flights or traveling. In such a circumstance, in the event that you have not purchased a travel insurance, you will lose the money spent in the baggage, alongside the valuables stored taken care of. With travel insurance, either your money will be reimbursed, or your luggage will be replaced with a new one, as per your policy.
  3. Trip cancellation: Some weather conditions or technical issues may force you to cancel your trip. As disheartening as it might seem, you will likewise lose the money you paid for the travel booking and the hotel appointments. Yet, with the help of trip cancellation coverage in travel insurance, you can get your money back.
  4. Annual Multi Trip Travel Insurance: Coverage, Claim and Exclusions

Frequently traveling abroad for work or for leisure is quite regular these days. To be safe during these trips, consider getting a annual multi trip travel insurance. For a frequent flyer, this type of travel insurance helps to cover emergency medical and non-medical expenses you may acquire overseas.

What is Annual Multi Trip Travel Insurance?

A annual multi trip travel insurance is meant for people who travel overseas multiple times in a year either for work or on a vacation. The coverage begins from the day you start your trip till the next 365 years. However, each trip must be limited to either 30 days or 45 days, depending on the provider and the arrangement chosen.

Types of Annual Multi Trip Travel Insurance

  1. Singular Travel Insurance Plan: It offers budgetary compensation for emergency medical and non-medical circumstances which an individual may face in a foreign land.
  2. Family Travel Insurance Plan: This travel insurance covers the entire family under a single arrangement. It provides protection against unexpected medical and non-medical expenses.

Eligibility Criteria

A annual multi trip travel insurance policy is meant for:

  1. People between the age of 18 years and 70 years
  2. Number of trips extending from 3 to 5
  3. Travel term running from 30 days to 60 days

What all Annual Multi Trip Insurance Covers?

The level of coverage differs from insurer to insurer. Listed below are some regular coverage provided under annual multi trip travel insurance:

  1. Emergency hospitalization expenses
  2. Loss of baggage/passport
  3. Compassionate visit
  4. All out loss or delay of checked-in baggage
  5. Money related emergency assistance
  6. Home robbery
  7. Trip cancellation and delay
  8. Missed connection

Guarantee Process for Annual Multi Trip Travel Insurance

  1. The insured or the beneficiary on the behalf of the insured needs to contact the emergency service provider (TPA) in case of any emergency assistance
  2. In case of hospitalization, TPA will provide a guarantee to the emergency clinic and the insurance organization will directly make the payment as a major aspect of cashless case office
  3. In case of non-medical assistance, for example, loss of checked-in baggage, passport, the insured needs to report the same to the police. Present the first bills to the insurance organization for reimbursement
  4. After verification, whenever approved, the case sum is provided

Documents Required for Claim Process

Following are some of the basic documents required for guarantee process:

  1. Appropriately signed in guarantee structure
  2. Unique ticket/ticket showing the travel dates
  3. Unique bills, receipts and prescriptions
  4. Copy of police report or FIR
  5. Doctor’s report
  6. Property Irregularity Report (PIR) from the Airline in case of loss/delay of baggage
  7. Copy of the new passport in case of loss of identification

Note: This isn’t an exhaustive rundown and an insurance organization may request other documents, whenever required

Time Taken to Settle Claims

From the date of receipt of all the necessary documents, it will take around 15-30 working days for the last settlement of the case, whenever discovered good. In case there is any delay in payment, the insurance organization will be liable to pay the interest.

Exclusions under Annual Multi Trip Travel Insurance

A annual multi trip travel insurance provides comprehensive coverage, however it does not cover certain circumstances. These are called exclusions. Here are some events for which cases are not entertained.

Pre-existing conditions

  1. Suicide, attempted suicide and self-inflicted injuries
  2. Traveling against the advice of a doctor
  3. Mental disorders
  4. Stress, anxiety and depression
  5. Sexually transmitted diseases and HIV AIDS
  6. War, nuclear threat and war-like operations

Insurance Companies Offering Annual Multi Trip Travel Insurance in India

Below are some of the insurance companies offering annual multi trip travel insurance in India:

  1. Religare Travel Insurance
  2. HDFC Ergo Travel Insurance
  3. Bharti AXA Travel Insurance
  4. TAT AIG General Insurance
  5. Reliance General Insurance
  6. ICICI Lombard Travel Insurance

Renewal Process

The insured can easily renew their Annual Multi Trip Policy. However, on the off chance that you are above 60, insurance organization may include stacking charges your policy.

Significant Aspects

  1. Disclose your pre-existing medical condition, assuming any, before purchasing the policy
  2. In case of any loss, advise the insurer within 12 hours
  3. Extension of the policy is possible just on advising the organization 30 days before the due date
  4. Most extreme risk of the insurer can’t exceed the Sum Insured (Cover sum you have chosen)

Advantages of Annual Multi Trip Insurance Plan

  1. Saves both time and money of purchasing new policy every time you travel overseas
  2. Provides coverage against medical emergency and hospitalization expenses
  3. A large portion of the insurance companies provide cashless case settlement in case of hospitalization
  4. Some insurers offer home thievery cover which insures your home against theft, robbery when you are traveling.

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