Overseas travel insurance plans-costs less and offers more

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Overseas Travel Insurance Plans - Costs Less and
Offers More   Everyone craves for vacations to
enjoy some quality time with their loved ones and
Indians are no exception. The outbound travel
sector of India saw a robust growth this year
because international travel destinations are
highly sought-after among Indians in 2015.
Obstacles like inflation, skyrocketing ticket
price and depreciation of rupee couldn't deter
the wandering spirit of Indian travelers to
travel around the world. Over 60 of Indians
remain unmoved by the depreciating rupee and are
raring to go to travel. However, the rate of
availing travel insurance to safeguard the trip
is still dismal among Indian travelers.
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Young generations prefer to travel to
international destinations once a year at least.
According to a survey, 90 of these travelers
make use of their own savings for overseas trips
and don't consider travel cover. Quite
surprisingly, this is the mindset of young
internet savvy generation as Lombard conducted
the survey in the age group of 25-35 among 1049
people across six metro cities in India who had
international trips in the previous year.
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The survey further reveals that Singapore is the
most preferred travel insurance among young
Indian travelers the second and third places are
held by US and UK. Let's take a look at the
travel plans available and their prices for those
who favor these destinations. Let's start with
Singapore.
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Travel insurance plans available for Singapore
trips The following list of top 5 policy quotes
in terms of lowest premium are for one 30 years
old person looking for a single trip to
Singapore. The trip duration is 10 days and the
chosen sum insured is US 500000. Universal Sompo
- Premium of Rs. 942 HDFC Ergo - Premium of Rs.
1015 Reliance - Premium of Rs. 1129 TATA AIG -
Premium of Rs. 1234 Religare - Premium of Rs.1666
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The lowest premium is Rs. 942 for a travel
insurance plan for a 10 days trip to any Asian
country such as Singapore, Thailand. This means
one has to pay less than Rs. 100 per day to make
his trip safe and secured. Indian travelers must
know that travel plans are not only inexpensive
but they also provide coverage for loss of
baggage, passport, hijack and even emergency
treatment.
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Travel Insurance plans available for UK trips The
following list of top 5 policy quotes in terms of
lowest premium are for 1 person looking for a
single trip to UK. The trip duration is 10 days
and the chosen sum insured is US
500000. Universal Sompo - Premium of Rs.
942 Bajaj Allianz - Premium of Rs.991 HDFC Ergo -
Premium of Rs. 1015 Reliance - Premium of Rs.
1129 Bajaj Allianz ( Travel Elite Platinum) -
Premium of Rs. 1139 Universal Sompo provides the
lowest premium. The premium of travel insurance
plan is also Rs. 942 for a 10 days trip To UK.
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Travel insurance policies for US trips The
following list of top 7 policy quotes in terms of
lowest premium are for 1 person looking for a
single trip to US. The trip duration is 10 days
and the chosen sum insured is US
500000. Universal Sompo - Premium of Rs.
1344 HDFC Ergo - Premium of Rs. 1438 Bajaj
Allianz - Premium of Rs.1441 IFFCO-TOKIO -
Premium of Rs.1456 Bajaj Allianz ( Travel Elite
Platinum) - Premium of Rs. 1658 TATA AIG -
Premium of Rs. 1694 Reliance - Premium of Rs. 1783
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The lowest premium is Rs. 1344 for a travel
insurance plan for a 10 days trip to US. Just
imagine, you are getting all types of risks
covered just by paying less than Rs. 140 for each
day of your trip. Best travel insurance plans in
India in terms of baggage and medical
coverage The survey also made clear that 79
people buy travel plan to cover medical
emergencies. Safety of baggage is the second most
vital reason as 60 people behind purchasing
travel insurance policy. So let's find out best
travel insurance plans in terms of medical
emergency and luggage safety.
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From the above list of travel policies for US,
two plans by Reliance and Bajaj Allianz look best
in terms of baggage cover. Reliance Travel care
platinum provides US1500 for the loss of checked
baggage for a premium of Rs.1783. The Travel
Elite Premium plan by Bajaj Allianz provides US
1000 for a premium of Rs. 1658 for the loss of
checked baggage.
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To get the best coverage for medical emergencies,
the Titanium plan the best. It primarily
covers Emergency Medical Expenses Permanent
Disablement/accidental death Hospital Cash Loss
of Personal Documents Accidental Death Loss of
Baggage Financial Emergency Assistance Personal
Liability
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What is the cost of international travel policy
for a couple? According to the survey, 52 of
travelers prefer to have trips with spouses. So,
if these people can avail a travel plan for
visiting US or UK or Singapore, how much do they
have to pay?
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Let's start with US trip for 10 days for a sum
insured of US 100000 covering 2 people who are
30 and 28 years old. Religare offers the best
plan which comes at a premium of Rs. 2407. If you
compare travel plans available for couples who
wish to visit UK, keeping the same criteria for
trip duration, sum insured and age of the
traveler, Religare provides the best plan. The
premium of the plan is Rs. 1537.
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For a trip in countries like Singapore, Thailand
within Asia which has been the top travel
destination of 2015, a couple has to spend even
less for a travel insurance policy. If you
compare travel insurance plans that cover Asia,
you will get the lowest premium of Rs. 1218 from
Explore Asia plan provided by Religare.
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The positive part of the survey is the increased
awareness among Indian travelers. More than 90
of young generation is aware of the travel
insurance which is a significant rise from last
year's 80. One of the major provider of travel
insurance plans in India Lombard underwritten a
total travel insurance premium of Rs 100 previous
year, one can expect the premium to increase by
5-10 in this year. The problem is not with the
awareness it is the lack of understanding about
the benefits associated with these travel covers.
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27 of the total respondents in the survey choose
not to avail a travel insurance plan simply
because they were under the wrong conception that
such plans cover only accidents, loss of baggage
and theft but don't provide medical coverage.
This is far from being the truth as the complete
break-up of Titanium plan shows extensive
coverage for medical emergencies.
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25 surveyed people didn't buy any travel plan
because they thought such plans are costly but it
is not so. The price of all plans for person
mentioned here are about less than Rs. 100 to
less than Rs. 140 for each day of a 10 days trip.
Travel insurance policies for couples are even
cheaper as they cost in the range of less than
Rs. 65 per day per person to less than Rs. 125
per day per person for destinations like US, UK
and all countries in Asia including popular
destinations like Singapore, Thailand.
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Indians love to spend their holidays in
international destinations. An international
travel insurance plan doesn't cost much and
offers a lot in return. If you are also a travel
freak, you should insure the total duration of
the trip so that you can enjoy your holiday with
complete peace of mind. Source
http//ezinearticles.com/?Overseas-Travel-Insuranc
e-Plans---Costs-Less-and-Offers-Moreid9252892
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