India's Travel Insurance Industry
The travel insurance industry comes in handy in India especially because of the enormous traffic of visitors in and out of the country.
Needless to say, this cover also caters for citizens. It is much easier to deal with hospitalization bills when you are covered than, when you are not should a loss occur to you when you are in a foreign country.
The industry has evolved for many years. In the following discussion, we shall take a critical look at the extent of the cover, the benefits for the client, the exclusions, and the quote details.
This cover caters for among others, any unexpected medical bills while on vacation, any flight accidents or delays, any accidental damage to your personal effects while traveling, any accidental loss of money or important documents, any passport replacements that you may need to do incase your original passport goes missing., hijacking etc. The list is endless.
One can never overemphasize the benefits of this type of insurance. Just having the peace of mind knowing that your service provider shall come to your rescue should you have any mishap while on your trip is reason enough to go for the cover.
The recovery of important documents lost while on a trip is a welcome relief to the client. Also, being able to cater for your hospitalization commitments when in a foreign country is very much welcome.
Exclusions Of The Cover
This kind of cover has strict exclusions to shield the provider from being manipulated into paying for intentional losses. These exclusions include any pre-existing medical conditions, any deliberate exposure by the client to the particular risk covered, any loss that occurred to the client while under the influence of alcohol or drug abuse etc. These exclusions are usually included in the contract and the client needs to understand them in order to avoid any confusion in the future.
Details Of The Quote
The travel insurance industry has quotes to the potential client detailing the kind of information required to be submitted before signing the contract. This includes the name of the location to where the person is traveling to, the type of policy the client intends to undertake, when the client intends to terminate the contract and when the policy should start.
Persons traveling for business or leisure need to assess their need for cover and then do their homework in settling for an appropriate service provider.