With the world becoming accessible easily and quickly, travelling around the world has become a frequent activity. People travel for business purposes, holidays, as well as for education. Buying a travel insurance plan has become important to avoid financial losses.
How does Travel Insurance help?
Firstly, it give you peace of mind on your journeys. Secondly, they offer several benefits like a cover for medical expenses. It provides emergency foreign cash for accidents, injury, disability or death. This cash includes hospitalization, funeral expenditure, and damage or loss of personal property. In such cases, this plan also bears the travel cost of the insured’s family members.
Also, it offers a cover for emergency situations like repatriation and evacuation caused due to bad weather, riots, or other such events. It protects you against delay or loss of baggage and passport. Along with this, it compensates losses incurred due to flight delay, cancellation, and interruption. In such cases, it offers compensation for food and stay. In addition, it offers a cover for theft as well. Also, It provide protection against legal liability to the insured.
What is the eligibility?
There aren’t too many eligibility criteria to buy a this plan. However, health and age are two basic factors that are taken into consideration. Generally, it depends on the type of travel insurance plan you buy.
Let’s take a brief look at the type of plans that are available.
It could be based on the duration or frequency of your trip. You could select from a single journey, multi-trip travel or long- stay travel insurance plan, etc. Also, there are travel insurance plans especially for students and businessmen to suit their specific needs and requirements. Many companies buy travel insurance plans in bulk to protect their employees. Students get special benefits from this plans like compensation of fees in case the student leaves the course as a result of accident, injury, death, and other such emergencies.
Several banks in India offer insurance plans for travel. However, it is wise to choose the right plan that serves your needs efficiently. Also, it is important to note that this insurance is mandatory for international travel. In case of domestic travel, it is not compulsory but it is advisable. This is because this plan provides financial safety and security in a foreign land. It allows you a hassle- free journey with this plan that covers all your needs.
For more information please visit https://www.mycover.com.au/