How to Find Travel Insurance For Parents?

Given the threat COVID-19 poses for the older age groups, you must take all precautions to safeguard your parents from any unpleasant conditions that could arise on their trip abroad. Here are the things to keep in mind while purchasing international travel insurance for your parent’s trip:

1. Check the list of coverage

There are various travel insurance products available in the market. Before you purchase travel insurance for your parents, thoroughly check the list of policy inclusions. Most importantly, check the maximum entry age with the insurer. Typically, travel insurance covers the following:

• Flight and/or hotel reservation cancellation:

If your parents wish to cancel or postpone their planned trip due to a medical condition, travel insurance will compensate for the losses incurred on the flight & hotel reservation.

• Trip cancellation:

Travel insurance also covers trip cancellation due to the sudden demise of a close family member.

• Trip extension:

As the world is still battling the COVID-19 pandemic, the possibility of a sudden lockdown at your destination is high. With travel insurance, the insurer assists you with policy extension in case you are stranded at your travel location.

• Medical coverage including COVID 19:

A travel insurance policy covers the expense of treatment if your father, mother, or both are diagnosed with COVID-19 during their trip abroad.

2. Check for medical coverage

Most health insurance policies are worthless if your parents fall ill and seek medical care outside India. Therefore, it's crucial to check with the insurer the scope of medical coverage included in the travel insurance. You must also read the policy's fine print to understand if there are any hidden clauses.

3. Check the baggage cover

There have been countless cases of luggage misplacement due to airlines’ negligence. Therefore, it is critical to double-check the scope of luggage coverage. Usually, most insurers cover the following: 

• The insurer will cover you if your luggage is lost or stolen. They cover necessities such as clothing, toiletries, and medications.

They also cover delayed baggage delivery. The coverage is identical to the previous pointer.

4. Check the list of add-ons available

Consider purchasing useful add-ons to provide your parents with total financial protection during their trip overseas. For example, look for travel insurance covers such as emergency cash advance, emergency hotel accommodation, and more to keep them protected in case of any emergencies.

5. Check the claim settlement ratio

CSR or claim settlement ratio is another important point that you cannot overlook. The claim settlement ratio of an insurer helps you understand if the insurer is reliable. Prefer purchasing travel insurance from providers who have a high claim settlement ratio such as ICICI Lombard. For FY 20-21, the ICICI Lombard travel insurance claim settlement ratio was 98.6%.

Also, make sure you understand the claim settlement process from the website. If you find it long or complex, turn to another insurer.

To sum it up

Go for a travel insurance policy only if you are convinced of every single aspect of the policy. Since the older age group is more prone to contracting a disease while on their trip abroad, make sure they are well protected during their trip with an appropriate travel insurance.