Business Trip or Family Holiday: Travel in Peace

Written on Friday, April 8, 2016
By Bajaj Capital GI Group

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Beginning of April, the season of overseas travels begins. The need to insure one and one’s family is of prime importance during these trips. Whether you travel for business or pleasure, international travel involves risk. Medical treatment abroad can be expensive & one never knows when one would require it. Having to spend for medical bills in foreign currency can be an expensive proposition. There are other difficult situations also, that one might face like loss of passport or baggage.

So, to sum up as why a person traveling overseas needs a Travel Insurance:


To take care of expenditure in foreign lands currency which are way higher as compared to medical expenses in


It ensures convenient and hassle free trip for the family

Help in sudden and unforeseen expenditure

Speedy guidance and referral in a foreign land and the time where proper guidance may mean life or death


Types of travel plans:

There are several types of travel plans along with various options for which we need to have a proper knowledge


and pitch the best product to our clients. Below mentioned are few of the plans which-


Overseas Travel Insurance Plan - For a person who is traveling abroad

This travel insurance and trip insurance plan offers precise cover under all facets of a global travel plan. However,


it is compulsory according to the rule books of most countries of the world.


Domestic Travel Insurance PlanPerson who is going for a vacation/business trip within India


This online insurance travel plan takes good care of all expenditures sustained during domestic trips within the

country. This insurance policy covers all expenses incurred in consequence of loss of baggage, personal

accidents, emergency hospitalization etc.


Student Travel Insurance Plan - Specially designed for student who are planning to go abroad for study

(Primarily July - Aug)


This is an important plan precisely crafted keeping in mind the requirements of students traveling to a foreign


country to pursue higher education. It is also obligatory to purchase one prior to taking admittance in a university


abroad. It will support in case a crisis during the period of stay.


Single Trip Insurance Plan - People who are going for a small duration vacation

It is a brilliant plan that covers you for the travel period of any single holiday. It is widely available with insurance


providers these days


Multi Trip Insurance Plan - For people who are often traveling, serves best to buy a Multi trip insurance for the

whole year

This is a type of annual or once in a year plan that must be a part of trip plan for all frequent travelers.


What does Travel Insurance Policy covers*?

1.Medical Expenses and Repatriation - covers hospitalization expenses for accident or illness, including medical

   evacuation wherever necessary.

2. Personal Accident - covers death and permanent disablement.

3. Loss of checked baggage - covers total and complete loss of baggage checked in by an international airline.

4. Delay of checked baggage - covers cost of emergency purchase of replacement items.

5. Loss of passport - covers reasonable and necessary expenses to obtain a duplicate passport or a valid travel


6. Personal liability - covers legal liability attaching in a private capacity during the course of overseas travel.


7. Cash Less Service - Direct settlement for in - hospital medical expenses abroad. (Subject to policy terms and


    conditions and sub limits)


8. Hospitalization Allowance - covers daily allowance maximum to a certain limit subject to plan opted for.


9. Emergency Cash Advance - This is an assistance service when the insured person requires emergency cash


   following incidents like theft/burglary of luggage/money or hold up. The service provider shall co-ordinate with  the


insured person’s relatives in India to provide emergency cash assistance to the insured person as per his


requirement, up to limit specified in the policy schedule.

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