Health

Overseas Travel Insurance Plans – Costs Less and Offers More

Everyone craves for vacations to enjoy some quality time with their loved ones and Indians are no exception. The outbound travel sector of India saw a robust growth this year because international travel destinations are highly sought-after among Indians in 2015. Obstacles like inflation, skyrocketing ticket price and depreciation of rupee couldn’t deter the wandering spirit of Indian travelers to travel around the world. Over 60% of Indians remain unmoved by the depreciating rupee and are raring to go to travel. However, the rate of availing travel insurance to safeguard the trip is still dismal among Indian travelers.

Young generations prefer to travel to international destinations once a year at least. According to a survey, 90% of these travelers make use of their own savings for overseas trips and don’t consider travel cover. Quite surprisingly, this is the mindset of young internet savvy generation as ICICI Lombard conducted the survey in the age group of 25-35 among 1049 people across six metro cities in India who had international trips in the previous year.

The survey further reveals that Singapore is the most preferred travel destination among young Indian travelers; the second and third places are held by US and UK.

Let’s take a look at the travel plans available and their prices for those who favor these destinations. Let’s start with Singapore.

Travel insurance plans available for Singapore trips

The following list of top 5 policy quotes in terms of lowest premium are for one 30 years old person looking for a single trip to Singapore. The trip duration is 10 days and the chosen sum insured is US$ 500000.

  1. Universal Sompo – Premium of Rs. 942

  2. HDFC Ergo – Premium of Rs. 1015

  3. Reliance – Premium of Rs. 1129

  4. TATA AIG – Premium of Rs. 1234

  5. Religare – Premium of Rs.1666

The lowest premium is Rs. 942 for a travel insurance plan for a 10 days trip to any Asian country such as Singapore, Thailand. This means one has to pay less than Rs. 100 per day to make his trip safe and secured. Indian travelers must know that travel plans are not only inexpensive but they also provide coverage for loss of baggage, passport, hijack and even emergency treatment.

Travel Insurance plans available for UK trips

The following list of top 5 policy quotes in terms of lowest premium are for 1 person looking for a single trip to UK. The trip duration is 10 days and the chosen sum insured is US$ 500000.

  1. Universal Sompo – Premium of Rs. 942

  2. Bajaj Allianz – Premium of Rs.991

  3. HDFC Ergo – Premium of Rs. 1015

  4. Reliance – Premium of Rs. 1129

  5. Bajaj Allianz ( Travel Elite Platinum) – Premium of Rs. 1139

Universal Sompo provides the lowest premium. The premium of travel insurance plan is also Rs. 942 for a 10 days trip To UK.

Travel insurance policies for US trips

The following list of top 7 policy quotes in terms of lowest premium are for 1 person looking for a single trip to US. The trip duration is 10 days and the chosen sum insured is US$ 500000.

  1. Universal Sompo – Premium of Rs. 1344

  2. HDFC Ergo – Premium of Rs. 1438

  3. Bajaj Allianz – Premium of Rs.1441

  4. IFFCO-TOKIO – Premium of Rs.1456

  5. Bajaj Allianz ( Travel Elite Platinum) – Premium of Rs. 1658

  6. TATA AIG – Premium of Rs. 1694

  7. Reliance – Premium of Rs. 1783

The lowest premium is Rs. 1344 for a travel insurance plan for a 10 days trip to US. Just imagine, you are getting all types of risks covered just by paying less than Rs. 140 for each day of your trip.

Best travel insurance plans in India in terms of baggage and medical coverage

The survey also made clear that 79% people buy travel plan to cover medical emergencies. Safety of baggage is the second most vital reason as 60% people behind purchasing travel insurance policy. So let’s find out best travel insurance plans in terms of medical emergency and luggage safety.

From the above list of travel policies for US, two plans by Reliance and Bajaj Allianz look best in terms of baggage cover.

Reliance Travel care platinum provides US$1500 for the loss of checked baggage for a premium of Rs.1783.

The Travel Elite Premium plan by Bajaj Allianz provides US$ 1000 for a premium of Rs. 1658 for the loss of checked baggage.

To get the best coverage for medical emergencies, the Titanium plan by HDFC ERGO is the best. It primarily covers:

  1. Emergency Medical Expenses

  2. Permanent Disablement/accidental death

  3. Hospital Cash

  4. Loss of Personal Documents

  5. Accidental Death

  6. Loss of Baggage

  7. Financial Emergency Assistance

  8. Personal Liability

What is the cost of international travel policy for a couple?

According to the survey, 52% of travelers prefer to have trips with spouses. So, if these people can avail a travel plan for visiting US or UK or Singapore, how much do they have to pay?

Let’s start with US trip for 10 days for a sum insured of US$ 100000 covering 2 people who are 30 and 28 years old.

Religare offers the best plan which comes at a premium of Rs. 2407.

If you compare travel plans available for couples who wish to visit UK, keeping the same criteria for trip duration, sum insured and age of the traveler, Religare provides the best plan. The premium of the plan is Rs. 1537.

For a trip in countries like Singapore, Thailand within Asia which has been the top travel destination of 2015, a couple has to spend even less for a travel insurance policy. If you compare travel insurance plans that cover Asia, you will get the lowest premium of Rs. 1218 from Explore Asia plan provided by Religare.

The positive part of the survey is the increased awareness among Indian travelers. More than 90% of young generation is aware of the travel insurance which is a significant rise from last year’s 80%. One of the major provider of travel insurance plans in India; ICICI Lombard underwritten a total travel insurance premium of Rs 100 previous year, one can expect the premium to increase by 5-10% in this year. The problem is not with the awareness; it is the lack of understanding about the benefits associated with these travel covers.

27% of the total respondents in the survey choose not to avail a travel insurance plan simply because they were under the wrong conception that such plans cover only accidents, loss of baggage and theft but don’t provide medical coverage. This is far from being the truth as the complete break-up of Titanium plan by HDFC ERGO shows extensive coverage for medical emergencies.

25% surveyed people didn’t buy any travel plan because they thought such plans are costly but it is not so. The price of all plans for person mentioned here are about less than Rs. 100 to less than Rs. 140 for each day of a 10 days trip. Travel insurance policies for couples are even cheaper as they cost in the range of less than Rs. 65 per day per person to less than Rs. 125 per day per person for destinations like US, UK and all countries in Asia including popular destinations like Singapore, Thailand.

Indians love to spend their holidays in international destinations. An international travel insurance plan doesn’t cost much and offers a lot in return. If you are also a travel freak, you should insure the total duration of the trip so that you can enjoy your holiday with complete peace of mind.



Source by Avishek Bhattacharjee

Leave a Comment

Your email address will not be published.

You may also like

Politics

E-Governance

1.INTRODUCTION:

World economies have recognized Information Technology as an effective tool in catalyzing the economic activity in efficient governance and in developing human resource. They have made significant investments in it and successfully integrated it with the development process, thereby reaping the benefits to their society. In India also, these developments have impacted the industrial, education, service and Government sectors and their influence on various applications is increasingly being felt of

late.

As the era of digital economy is evolving, the concept of governance has assumed significant importance. The e-Governance has consequently become an accepted methodology involving the use of Information Technology in improving transparency, providing information speedily to all citizens, improving administration efficiency and improving public services such as transportation, power, health, water, security and municipal services.

India has been harnessing the benefits provided by the Information & Communication

Technologies to provide integrated governance, reach to the citizens faster,provide efficient services and citizen…

Read More
Politics

5 Basics To Protect Your Health During A Pandemic

This year, 2020, will be remembered, unfortunately, as the year of this horrific pandemic, which has seen over 50 million worldwide cases, and over 10 million cases in the United States, as well as about a million deaths, throughout the world, and nearly 250, 000 fatalities, in this nation. Some articulate, a variety of inane concepts, and theories, including, herd immunity, pandemic – fatigue, or, it will all go away, by itself, etc, but, if we wish, to address this virus, and begin to reduce the public health risks, we need to take personal responsibility, to protect our health, and well – being, during a pandemic. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 basic steps, to achieve this.

1. Wear a mask: Why has wearing a mask, become a political discussion? Nearly, every public health expert, states, if, everyone, simply wore…

Read More
Travel

Introducing Mauritius

One captivating island that is not yet discovered by a lot of people is Mauritius Island. Although not as popular as the other islands in the world, Mauritius has its own promise of enchantment you would not want to miss.

Mauritius is an island in the Indian Ocean. It is located off the coast of Africa and lies east of Madagascar. Long before it was named after Prince Maurice, who was the Prince of Orange and Count of Nassau, it were the Arab traders who set foot on this island back in the 10th century. However, it was the culture of the Dutch that made great influence on the island when they used it as a supply base. When the Dutch decided to desert the island, the French came. Then the British got hold of the island through the Treaty of Paris before they finally became independent in 1968.

Due to…

Read More
Travel

Ten Steps to Improve Hospitality Communication

You’re celebrating your anniversary at a nice restaurant, you order your favorite meal, it’s going to be a wonderful night… but the waiter is in a bad mood, the order is late, and the food is not what you wanted, you can hear an argument in the kitchen… You won’t be going to that restaurant again, and you’ll tell all your friends too.

Bad communication is bad news anywhere, and in the hospitality industry in particular. So how can we prevent Hospitality communication calamities?

1. Have well-trained staff. If you can’t hire well trained staff, find people who are keen workers and willing to learn, and train them yourself. In fact, some employers prefer to train their own staff, rather than re-train experienced staff to meet their standards. Well trained staff is the key to providing professional service.

2. Hospitality is all about service; stress that to your staff. Hospitality staff often…

Read More
Travel

Perth International Airport

Hire Car At Your Fingertip

Perth International Airport Background

The 4th busiest airport in Australia, Perth international airport is situated just outside Perth in Australia. It has three terminals – an international terminal (T1) and two domestic terminals (T2&T3). The building of the international terminal is located 17km from Central Perth and the two domestic terminals about 12 km from the main district of the city.

Perth City

Perth is the capital of Western Australia, which is Australia’s largest state. Interestingly, Perth is geographically closer to East Timor and Jakarta, Indonesia, than to Sydney, Melbourne, and Brisbane.

Perth is nestled in the Swan river, which flows back to the Indian ocean. Perth has the most captivating beaches in Australia.

Tourists’ Itch

As you land in one of the three airport terminals, we can understand the tourist(s) itch you must be having on your feet to explore and get a feel of this beautiful Australian city. You…

Read More
Politics

How to Become a Journalist

Journalism is a very competitive field and one of the most exciting as well. If you love to gather interesting information, analyzing and reporting them and disseminating them to the general public, then a journalism career is for you. Journalism jobs in London are in demand as media companies and publishing houses are always on the lookout for fresh journalists.

Journalism jobs vary but the most popular include working in a newspaper or broadcasting station. Entry level positions for fresh graduates are available in these job sectors. Once you’ve gained experience or had taken advance courses in journalism, you can land better jobs as a reporter, commentator, sports and weathercaster, and anchor. Others become news writers, columnists, and correspondents.

Educational Requirements

Journalists must possess exemplary knowledge and skills in the English language. They have to be proficient in both written and oral communication. As such, they must have a degree in English…

Read More
Travel

Seychelles Vacation – The Best Time For Your Travel to Seychelles

When is the best time for a holiday in Seychelles? This is a question I get asked very often. And the answer really is an issue that has nothing to do with Seychelles at all. First, I must say, for a vacation in Seychelles there is no “best time” of year. It is pleasant 365 days in these islands. So…

Right now with prices being low, not cheap but definitely more affordable if you’re on a budget, now is a very good time for that Seychelles holiday. But before you rush off to buy a ticket to Seychelles today I would suggest you plan well and you keep yourself informed of special offers, especially during the off-season.

Why the off-season? It is because that might be the very best time for your own holiday depending on your situation. Knowing all that will ensure the very best holiday in Seychelles for you….

Read More
Travel

Discover the Beauty of Dominica by Planning a Vacation

A proper plan is necessary for almost anything. Even if you want to lead a successful and happy life you need to plan it properly. Similarly of you want to go for a vacation you need to plan it in the best possible way. Planning can sometimes seem to be a bit tough because there are so many things to consider.

When you plan for a vacation the first thing that you need to do is plan your budget. You need to find out how much you will be able to spend and depending on that you need to take the other decisions. You must always remember that some places are more costly than the others. If you are looking forward to spend some time on a wonderful beach then you can think about choosing Dominica. The Dominican islands are also called the nature islands because of the natural beauty…

Read More