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Holidays are part and parcel of our lives these days.   Missing baggage and the losses due to that during our travel are a norm.  This month we are going to look at how we can mitigate these losses

“Travel Insurance” is  an insurance cover that offers medical insurance benefits and some form of emergency assistance to cover travelers for short periods of time.  In general, the time period of the protection starts  2 hours before the  travel and this cover ends  when one lands back.

The risk that any traveler faces is quite different from one to another. The value of the luggage, the refund ability of your ticket, your destination, your tour company, as well as your physical condition at the time of the trip get into account when potential losses are calculated. Travel insurance is a kind of insurance policy especially made to protect against these risks. There are different categories, which could be classified according to the situations they cover, or how they are purchased.

In normal practice, the general types of travel insurance is as below.

  • Single Trip Travel Insurance normally covers  particularly the duration of  as single trip.
  • Group Travel Insurance  offers protection to  group travelers.
  • Annual Travel Insurance provide coverage for a full year like multi-trip, with 90 days restriction on duration of any one trip in that year.
  • Individual Travel insurance
  • Family Travel insurance

The travel insurance what is available in the market is a very comprehensive one.This in general offers cover for a variety of misfortunes that might happen in a trip. These may include among others: –

  • cancellations or delays in the flights,
  • medical treatments overseas
  • Medical evacuation,
  • Lost or stolen, baggage,
  • Delayed arrival of baggage
  • AD&D (accidental death and dismemberment)
  • Hospitalisation benefits
  • Overseas assistance benefits
  • Personal liability
  • Personal accident

It is prudent to get a travel insurance before you start a travel. This gives a peace of mind while travelling.

Girija Varadharajan

Life planner , Great Eastern

HP 91852063

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