Cashless international travel insurance is a convenient and efficient method of claim settlement. The insurance company directly pays for the costs incurred in the event of an insurable loss, not requiring the need for upfront payment and reimbursement.
This article highlights the importance of travel insurance, its coverage, and the advantages of cashless settlement. It also explains the step-by-step procedure for cashless treatment during overseas travel, ensuring individuals receive the necessary support and medical care when needed.
What is cashless international travel insurance?
Cashless international travel insurance is typically a comprehensive policy that covers various financial and medical emergencies while travelling abroad. It is designed to provide extensive protection and peace of mind during international trips.
Key benefits of cashless travel insurance
Cashless international travel insurance is generally a comprehensive policy offering coverage for various financial and medical emergencies one may face while travelling overseas.
- It generally provides a wide range of benefits, such as compensation for the loss of checked-in baggage or its delay, reimbursement for the loss of essential documents like your Passport, and coverage for personal accidents and unexpected financial emergencies.
- Insurers offer unique facilities like personal liability and accident coverage and financial assistance in case of distress related to hijacking.
There are various reasons why purchasing travel insurance before travelling abroad is essential.
- Firstly, there is a possibility of falling ill or getting injured during the trip due to factors such as jet lag, climate change, unfamiliar cuisines, or accidents.
- Secondly, there may be instances where you might have to cancel or change your travel plans due to unforeseen circumstances like personal illness, family emergencies, or natural disasters.
- Thirdly, travel plans can sometimes fall apart for various reasons, like flight cancellations, delays, or other unexpected events.
Moreover, travel insurance covers baggage loss, delay, or theft, ensuring you receive reimbursement for essential items and assistance in recovering misplaced bags.
Coverage under cashless international travel insurance
While specific coverage varies by policy, standard inclusions are:
- Medical Expenses: Covers hospitalisation, surgeries, and outpatient treatments.
- Emergency Medical Evacuation: Arranges and covers costs for transportation to the nearest adequate medical facility.
- Repatriation of Mortal Remains: Covers the cost of returning the insured's remains to their home country in case of death.
- Trip Cancellation or Interruption: Reimburses non-refundable expenses if your trip is cancelled or cut short due to covered reasons.
- Baggage Loss or Delay: Compensates for lost or delayed luggage, helping you replace essential items.
How to buy a cashless international travel insurance policy?
Purchasing a cashless international travel insurance policy is straightforward:
- Assess Your Needs: Determine the coverage you require based on your destination, trip duration, and activities planned.
- Research Providers: Look for valid insurance companies that offer cashless services in your travel destinations.
- Compare Plans: Evaluate policies for coverage limits, exclusions, and premiums.
- Purchase Online: Most insurers offer the convenience of buying travel insurance online. Fill out the application and make the payment.
- Confirm Network Hospitals: Before travelling, obtain a list of network hospitals in your destination to ensure cashless claim processing.
Conclusion
Whether it's a single trip travel insurance for a one-time vacation or an annual plan for frequent travellers, securing your travels with the right insurance is a wise decision. Remember, purchasing travel insurance online is a convenient way to compare plans and select the best coverage tailored to your needs. Familiarise yourself with the fine print of your policy. For example- routine illnesses may be referred to a nearby General Practitioner (GP). In case of language challenges, one can contact a doctor who can communicate in the preferred language of the insured person or their family members. Severe conditions requiring specialised treatment may lead to a referral to the nearest multi-specialty hospital. The insurance provider informs the medical facility in advance of the insured's arrival for better-quality treatment.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the Insurance industry and products. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.