According to data from the Ministry of Home Affairs (MHA) Bureau of Immigration (BoI), the volume of Indians travelling abroad has increased dramatically by 137%, from 7.1 million in 2021 to 18 million today. With more Indians travelling for various reasons—including education, work, leisure, destination weddings, and health—these trends are expected to become more pronounced.
Travellers should consider purchasing travel insurance policies to protect themselves from unforeseeable events, risks, and related problems. Some of the problems that a travel policy may help you deal with include:
- Medical Emergencies: Medical care abroad can be much more expensive than in India, making out-of-pocket expenses impractical. To avoid having to pay for any urgent medical need that arises when you are in a foreign country, you can choose to have travel insurance. For example, having an ideal European travel insurance coverage when travelling within Europe, will help you deal with healthcare costs when travelling. Claims are subject to terms and conditions set forth under the travel insurance policy.*
- Loss Of Checked-In Baggage: This loss may result from lost luggage by airlines, human error, theft, etc. The loss of checked baggage is handled in terms of the monetary loss of the belongings and possibly the trouble that the policyholder has had to undergo due to the incident.* Claims are subject to terms and conditions set forth under the travel insurance policy.
- Trip Cancellations And Delays: On social media, where travel bloggers frequently share their personal experiences, travellers’ nightmares like cancellations and delays, are nothing new. These losses may result from unexpected delays, last-minute airline cancellations, etc.* Claims are subject to terms and conditions set forth under the travel insurance policy.
- Passport Loss: Passport loss occurs more frequently than most people realise. It typically entails a lot of paperwork, such as submitting a police report, applying for a passport again at the embassy, and obtaining emergency travel documents. Travel insurance can help deal with the consequences of passport loss.* Claims are subject to terms and conditions set forth under the travel insurance policy.
The extensive list of coverage options offered by travel insurance policies can help travellers achieve some peace of mind when embarking on a journey to a foreign land. For example, having travel insurance in Hong Kong, when you travel there, can make dealing with some unforeseen circumstances slightly more hassle-free.
Asia Plan: Major tourist destinations in Asia, especially Southeast Asia, have experienced an explosion in popularity as more and more Indian tourists travel there. Dubai continues to be the most searched international destination, followed closely by Bangkok and Singapore.
Schengen Plan: 420 million people live in the 27 countries of the Schengen region in continental Europe. The Schengen region, a popular travel destination for Indians, permits paperless travel between its member nations with few checks.
The basic ideal overseas travel insurance may not offer protection against losing a passport, experiencing a delay, losing checked luggage, or being held legally liable for harm to a third party or their property. These are all covered by the standard plan. Often, the- only benefits provided by the core policy are personal accidents, dental work, and medical costs.
Student Plan: The travel insurance plan for students is available to Indians between the ages of 16 to 35 years wanting to study abroad. Basic, Standard, Silver, Gold, and Platinum are the five levels of the plan.
Similar coverage is offered by all student plans for study interruption (coverage for tuition fees paid in advance when the insured is hospitalised for more than a month or a family member passes away), sponsor protection (coverage in the event of the sponsor’s passing, which reimburses tuition for the remaining period of education), and bail bond (coverage towards payment of bail bond to the appropriate authority/Court if the insured is arrested and charged with a crime).
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
