What is Travel Insurance? Types of Travel Insurance


A person can travel abroad for various reasons such as education, work or leisure. While traveling, incidents like loss of baggage and passport, medical emergency, medical emergency, flight cancellation are not uncommon. At the same time travel insurance policy comes in handy, financially compensates for the loss during the journey.

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What is travel insurance?

Travel insurance provides coverage for travel related expenses and losses in India and abroad. It compensates for economic losses due to several unforeseen events such as theft, death, medical emergency, loss of baggage, flight delays etc. It has been observed that which is usually overlooked while planning a holiday or a trip.

Types of travel insurance

There are many types of travel insurance, so that you can choose it according to your need and requirement. Below are the types of insurance travel that you can buy while traveling.

Student Travel Insurance: The Student Travel Insurance Scheme provides medical and financial assistance to students traveling abroad for education. The scheme will cover the medical expenses of students in the new country during their stay there. This benefit can be availed by a student who is already studying abroad or is planning to go abroad for education.

Domestic Travel Insurance: You can avail domestic travel insurance to travel anywhere in India. Under this scheme, financial assistance is provided for medical emergency, baggage theft, trip delays and cancellation of travel etc.

Family Travel Insurance: Family travel insurance can be taken for all the family members of the policy holder. This includes accidental losses, hospital expenses and loss of baggage.

Senior Citizen Travel Insurance: This is a comprehensive plan for people in the age group of 61-70 to make their journey a pleasant experience. It provides coverage for existing diseases before taking medical services, healthcare facilities and insurance.

Group Travel Insurance: If you are a group of 20 or more people, you can buy a group travel insurance plan. This includes cancellation of travel, loss or loss of baggage, medical facility and trip delays.

Schengen Travel Insurance: It is compulsory to purchase Schengen Travel Insurance if you are traveling to Schengen countries such as Austria, Denmark, Czech Republic, Finland, France, Poland, Germany etc. for more than 90 days. These are 26 countries in Europe. The plan includes medical emergency services, 24/7 assistance, accident or injury coverage, death and disability cover, or return to the country, etc.

Asia Travel Insurance: If you are traveling to other Asian countries, you can opt for Asia Travel Insurance. Under this scheme, your medical and other unexpected expenses will be covered.

Customized Travel Insurance: Some people prefer customized travel insurance plan, where they can choose the insurance coverage according to their needs. This service is offered by some insurers in specific regions of the world.

What does travel insurance cover?

Coverage offered by insurance companies varies for different people taking insurance. The most common cover / benefits under the travel insurance policy are:

  • Loss of baggage and personal documents
  • Medical emergency expenses
  • Repatriation of human remains
  • Emergency dental expenses
  • Hospital cash expense
  • Accidental death or permanent disability
  • personal liability
  • Kidnapping allowance
  • Compassionate journey
  • Pending travel and flight expenses
  • How does travel insurance work?
  • Travel insurance should be purchased before traveling abroad or in India for any purpose.
  • Read the guidelines, terms and conditions carefully to get the information of the policy
  • Provide the necessary documents to the insurance company for the claim
  • In case of insured event, necessary expenses will have to be paid and it will be returned by the insurance company.
  • Eligibility conditions
  • There are different types of travel insurance plans. Therefore the eligibility conditions and age limit also vary according to the policy.

 Let’s understand this a little more:

Family Travel Insurance Scheme: This includes two adults up to the age of 60 and their two children up to 21 years of age.

Student Travel Insurance Scheme: Students between the age of 16 to 40 years can buy this scheme who are studying abroad for their higher education.

Senior Citizen Travel Insurance Scheme: This scheme is for senior citizens up to the age of 85 years.

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Schengen travel insurance scheme: To be eligible for Schengen travel insurance, adults must be up to 70 years of age and children must be over 90 days old.