25 December, 2014
“We wander for distraction, but we travel for fulfilment.” – Hilaire Belloc
Being a holiday season, you must be quite excited to go for a long-planned overseas journey, leaving all the worries and hassles of day-to-day life behind. Accommodation is arranged, flights are booked, travel itinerary is planned, and even half of the luggage packing must be done by now. However, somewhere in your mind, you might be still wondering whether you must buy a travel insurance plan.
Travel insurance is essential for every overseas trip, even when you are going for a two-day vacation. It takes care of all the medical expenses should any injury or illness befall. In addition, it also offers reimbursement for theft of valuables, luggage, important documents, etc.
There are several benefits of buying a travel insurance plan. However, many travellers are confused about how to choose a plan, there are abundant options are available in the market. Here are five expert tips on choosing a policy.
1) Know What Your Needs Are
Before buying a plan, have you ever thought about what kind of cover you will require? Are you aware what all is covered by any standard plan? Is it possible to avail the cover at all destinations? Understand your needs first, know the covers offered, and then move ahead to shortlist a policy.
2) Look out for Medical Exclusions and Age-limits
Did you know that several cheaply available travel policies do not insure individuals above the age of 65? Moreover, most plans do not offer cover for pre-existing medical conditions. Before you purchase a policy, make sure you check the age-limits and medical exclusions it carries.
3) Buy on Individual Basis
Travel policy is offered at cheaper rates when you buy it for the entire family. However, the sum insured offered is also limited since it is distributed among all members. To avail a better cover, always choose individual travel plans.
4) Check for the Type of Cover
While buying a policy, it is essential to check whether expenses are covered upfront or you receive reimbursement later. Ensure where you understand the types of deductibles offered and the limits of covers provided. Verify the covers and their limits before purchasing.
5) Compare and Buy
Different insurers offer a variety of travel insurance plans that differ in premium rates and covers. A smart way to choose a travel plan is to visit websites of different insurers, generate quotes, compare covers, and then shortlist a policy.
Disclaimer: The information provided here is to be taken for reference purposes only and not to be used for any medical, legal or other professional use. For any insurance product, please refer the policy terms and conditions before concluding a sale.
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