Overseas travel insurance
Overseas travel insurance – Need for the policy
An Indian citizen travelling outside India for business, holidays or studies is exposed to the risk of accident, injury, and sickness during his stay overseas.
The cost of medical care, especially in countries such as USA and Canada, is very high and could cause major financial problems if a person travelling to these countries were to meet with an unfortunate accident/ illness.
To protect against such unfortunate events, travel policies or overseas health and accident policies are available.
Overseas travel insurance – Scope of coverage
Such policies are primarily meant for accident and sickness benefits, but most products available in the market package a range of covers within one product. The covers offered are:
- Accidental death/disability
- Medical expenses due to illness/accident
- Loss of checked in baggage
- Delay in the arrival of checked in baggage
- Loss of passport and documents
- Third party liability for property/personal
- Cancellation of trips
- Hijack cover