Travel insurance plans are not yet mandatory in India but effectively they are because if you want to make an international trip most foreign countries require travel covers by approved travel insurance companies in India for visa procedure of the travelers. Apart from the travelers, travel insurance policy is essential for those who visit foreign countries on work visa and those who travel abroad for studies. Benefits of Availing Travel Insurance Plans Unplanned expenses are common occurrences during a trip. We all are aware of it and carry additional money to cope with it. While you can manage extra spending in the form of buying a fancy stuff or dining in a stellar restaurant, expenses due to loss of valuables documents or even worse; for medical purposes can be fatal. This is where a travel insurance policy comes to your rescue. Medical expenses in countries like US, Germany, UK, Australia are extraorbitant compared to Indian standard. A minor illness in these countries can make a dent on your years of savings. But, with a valid travel policy, you can have these expenses reimbursed by your insurer once you get back to India. A travel plan can also be used to avail immediate assistance in the moment of need and you can always extend the duration if you need to prolong your trip. Best Travel Insurance Companies in India Having understood the importance of having a travel insurance policy, you must be looking for a quality travel insurer to grab a comprehensive travel cover. In India, there is no dearth of travel insurance provider but you need to find a reliable one to invest your hard-earned money. Here is a list of top 5 travel insurance companies in 2016 in India. 1. Apollo Munich Apollo Munich is not only known as a standout health insurance provider but the insurer has also gained importance in the niche of travel by dint of its comprehensive travel insurance policies. In total, Apollo Munich offers 5 types of travel policies such as;
- Easy Travel – Individual
- Easy Travel – Family
- Easy Travel – Senior Citizen
- Easy Travel – Annual Multi Trip Plan
- Educare (Students travel insurance plan)
|
Plan > |
Easy Travel - Individual |
Easy Travel - Family |
Easy Travel - Senior Citizen |
Easy Travel - Annual Multi Trip Plan |
Educare |
|
Key benefit |
Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Hospital Daily Cash, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Financial Emergency Cash, Personal Liability, Trip Delay, Hijack Daily Allowance, Trip Cancellation and Curtailment, Missed Connection |
Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Hospital Daily Cash, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Financial Emergency Cash, Personal Liability, Trip Delay, Hijack Daily Allowance |
Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Hospital Daily Cash, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Financial Emergency Cash, Personal Liability, Hijack Daily Allowance, |
Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Hospital Daily Cash, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Financial Emergency Cash, Personal Liability, Trip Delay, Hijack Daily Allowance, Trip Cancellation and Curtailment, Missed Connection |
Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Medical Cover for Trips Back in India, Balance Period of Policy + 30 days, Personal Accident, felonious assault Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Study Interruption, sponsor protection, compassionate visit(2 way), Bail Blond, Personal Liability, Maternity benefit, childcare benefit, Treatment of Mental and Nervous Disorder; Including Alcoholism and Drug Dependency, Medical Expenses for Inter-collegiate Sports Injuries, Cancer Screening and Mammography Examinations, Emergency Financial Assistance, HIV Cover. |
Source: Apollo Munich
2. TATA AIG The owner of CNBC Awaaz Travel Awards 2012,2013, Tata AIG is another leading travel insurer in India. The provider offer 4 types of travel policies to cater to the needs of all types of travelers such as;
- Travel Guard
- Student Guard- Overseas Health Insurance Plan
- Asia Travel Guard Policy
- Domestic Travel Guard Policy
|
Plan > |
Travel Guard |
Student Guard- Overseas Health Insurance Plan |
Asia Travel Guard Policy |
Domestic Travel Guard Policy |
|
Key Benefits |
Accident & Sickness Medical Expenses Checked Baggage Loss Baggage delay Loss of Passport Personal Liability Hijacking Flight Delay Automatic-extension of the policy Accidental Death And Dismemberment Sickness Dental Expense Pre-Departure Services Emergency Travel Agency Emergency Cash Transfers and Advances Legal Assistance Medical Assistance, Evacuation and Repatriation |
Accidental Death and Dismemberment including Felonious Assault Accident & Sickness Medical Expenses Reimbursement Special Extensions Coverage for Pre existing Conditions Maternity Benefit Childcare benefits Treatment for mental and nervous disorders, including alcoholism and drug dependency Cancer screening and mammography examinations Physiotherapy Sickness Dental Relief Emergency Medical Evacuation Continuing Treatment (following Medical Evacuation to your Country of Origin) Repatriation of Remains Baggage Loss and delay Loss of Passport Personal Liability Study Interruption Sponsor Protection Compassionate Visit Visit by Student Visit by Immediate Family Member Fraudulent Charges Trip Delay Missed Connections/Departure Hijack Cash Benefit Bail Bond |
Personal Accident Accident and Sickness Medical Expenses Emergency Medical Evacuation and Repatriation of Remains Checked Baggage Loss Loss of Passport Checked Baggage Delay Personal Liability |
Accidental Death and Dismemberment Benefit Repatriation of Remains Emergency Accident Medical Expenses Reimbursement Missed Departure (Rail / Air) Accommodation charges due to trip delay Loss of Tickets Emergency medical evacuation Personal Liability |
Source: Tata AIG
3. Bajaj Allianz Bajaj Allianz already bagged the coveted CNBC AWAAZ Travel Awards as the best Travel Insurance Company in 2010, 2011, 2014. The provider enjoys a robust presence in the India’s travel insurance space by virtue of its comprehensive travel policies. Here is a list of travel covers on offer at Bajaj Allianz.
- Individual Travel insurance Plan
- Family Travel insurance Plan
- Senior Citizen Travel Insurance Plan
- Student Travel Insurance
- Corporate travel Insurance
|
Plan > |
Individual Travel Insurance Plans |
Family Travel Insurance Plans |
Senior Citizen Travel Insurance Plans |
Student Travel Insurance Plans |
Corporate Travel Insurance |
|
Key benefit |
Medical Expenses,Evacuation and Repatriation Emergency dental pain relief Loss of Checked Baggage Delay of Baggage Personal Accident Loss of passport Personal Liability Hijack Trip Delay Emergency Cash Advance Golfer Hole-in-one |
Covers expenses of hospitalization, loss of baggage and other incidental expenses Quick disbursement of claims Covers you against trip cancellation, trip curtailment and burglary of your home(in Travel Elite plan only) in-house international toll-free numbers and fax numbers to offer you assistance anytime |
Covers expenses of hospitalization, loss of baggage and other incidental expenses Covers you against trip cancellation, trip curtailment and burglary of your home* Quick disbursement of claims |
Covers expenses of hospitalization, loss of baggage, accident to sponsor, family visit and other incidental expenses Covers you against bail bonds and tuition fee (available only in Student Elite Plan) Covers you against loss of passport (available only in Brilliant Minds) Covers you for emergency dental pain relief (available only in Study Companion and Student Elite) Quick disbursement of claims |
Medical Expenses, Evacuation and Repatriation Emergency dental pain relief Personal Accident Loss of Checked Baggage Delay of Checked Baggage Loss of Passport Hijack Trip Delay Personal Liability Hospitalization Daily Allowance |
Source: Bajaj Allianz
Travel Asia plan Aside from these 5 types of travel insurance plans, Bajaj Allianz have also come up with a customized travel cover called Travel Asia. Like other categories, this plan also has variants in terms of the coverage amount. Asia Flair and Asia Supreme plans come with coverage amount of US$15,000 and US$ 25,000 respectively. The plan offers coverage in the following situations;
- Medical Expenses,Evacuation
- and Repatriation
- Emergency dental pain relief
- Loss of Checked Baggage
- AD & D Common Carrier
- Delay of Baggage
- Personal Accident
- Loss of passport
- Personal Liability
- Hijack
- Emergency Cash Advance
Another USP of Bajaj Allianz is they boast of in-house international toll-free numbers and fax numbers to offer you assistance anytime. 4. ICICI Lombard ICICI Lombard won the prestigious CNBC Awaaz Travel Awards 2015 for the “Best Travel Insurance Company” in 2015. ICICI Lombard have gone from strength to strength ever since its inception in 2001. Two chief reasons behind the increasing popularity of ICICI Lombard travel cover are, availability of coverage for people up to 85 years of age without any need of medical help and cashless facility worldwide for cashless facility. ICICI Lombard offers 3 types of travel policies in the likes of;
- Single Round Trip
- Senior Citizen
- Gold Multi-trip
|
Plan |
Single Round Trip |
Senior Citizen |
Gold Multi-trip |
|
Key Benefits |
No medical test up to 85 years of age Sublimit plan not available Schengen Countries Cashless hospitalization facility is available worldwide Quality health care guaranteed through United Health International Original policy for 180 days and it can be extended for another 180 days Coverage for total loss of checked baggage including handbag Medical Concierge, Automotive Assistance, Lifetime services for dependents back home Emergency Hotel Extensions Trip Cancellation and Interruption Compassionate Visit Political Risk and Catastrophe Evacuation Coverage for Swine Flu, H1N1 influenza |
No medical test up to 85 years of age Sublimit plan not available Schengen Countries Cashless hospitalization facility is available worldwide Quality health care guaranteed through United Health International Coverage for total loss of checked baggage including handbag Medical Concierge, Automotive Assistance, Lifetime services for dependents back home Emergency Hotel Extensions Trip Cancellation and Interruption Compassionate Visit Political Risk and Catastrophe Evacuation |
Plan available up to 70 years of age Cashless hospitalization facility is available worldwide Quality health care guaranteed through United Health International During a year, you can secure as many as 30, 45 or 60 days Medical Concierge, Automotive Assistance, Lifetime services for dependents back home Emergency Hotel Extension Trip Cancellation & Interruption Compassionate Visit Political Risk and Catastrophe Evacuation Coverage for Swine Flu, H1N1 influenza |
Source: ICICI Lombard
5. HDFC ERGO
HDFC ERGO has come up with an array of general insurance products that encompass Health, Motor, Travel, Personal Accident and Home in the retail space. The company received iAAA rating by ICRA for paying highest amount of claim. As far as the travel policies are concerned, HDFC ERGO offers Single Trip, Multi-Trip, Asia plan(excluding Japan), Family Floater plan and a Student Travel Insurance Plan called Student Suraksha.
|
Plan |
Single Trip |
Multi-Trip |
Asia plan(excluding Japan) |
Family Floater plan |
Student Suraksha |
|
Key Benefits |
Emergency Medical Expenses Emergency Medical Evacuation Repatriation of remains Emergency Dental Expenses Hospital Cash Accidental Death and Permanent Total Disability Common Carrier Personal accident Flight delay Loss of Baggage and Personal Documents Loss and delay of Checked Baggage Personal Liability Financial Emergency Assistance Contingency Travel Benefits Hijack Distress Allowance |
Emergency Medical Expenses Emergency Medical Evacuation Repatriation of remains Emergency Dental Expenses Hospital Cash Accidental Death and Permanent Total Disability Common Carrier Personal accident Flight delay Loss of Baggage and Personal Documents Loss and delay of Checked Baggage Personal Liability Financial Emergency Assistance Contingency Travel Benefits Hijack Distress Allowance |
Emergency Medical Expenses Emergency Medical Evacuation Repatriation of remains Emergency Dental Expenses Hospital Cash Accidental Death and Permanent Total Disability Common Carrier Personal accident Flight delay Loss of Baggage and Personal Documents Loss and delay of Checked Baggage Personal Liability Financial Emergency Assistance Contingency Travel Benefits Hijack Distress Allowance |
Emergency Medical Expenses Emergency Medical Evacuation Repatriation of remains Emergency Dental Expenses Hospital Cash Accidental Death and Permanent Total Disability Common Carrier Personal accident Flight delay Loss of Baggage and Personal Documents Loss and delay of Checked Baggage Personal Liability Financial Emergency Assistance Contingency Travel Benefits Hijack Distress Allowance |
Accidental Death Permanent Disablement Emergency Medical Expenses Emergency Dental Treatment Loss of Passport Loss and delay of checked baggage Personal Liability Bail Bond Sponsor Protection Compassionate Visit Psychological Coverage Treatment for Expectant Mothers Screening and Examinations Childcare Benefit |
Source: HDFC ERGO
Conclusion: Now that you are familiar with the leading travel insurers in India you can buy your travel policy from any of these providers as per your budget and requirement. There is no restriction about the time of purchasing travel cover but most people avail it a month or two prior to the beginning of their journey. You can choose from the above-mentioned providers and buy travel policy directly from their portals. But, it is always better to compare travel plans in terms of premium, coverage, exclusions, claim settlement record. To make a detailed comparison without spending a lot of time on multiple travel insurers’ portals, you can resort to online insurance comparison portals like GIBL.IN where you can compare, select and even buy the travel insurance plan you want for your forthcoming tour. Here, you can rest assured of getting the best deal available and the much-needed assistance at the time of making a claim.
