(Please enter words below)
x
x

Please enter your details

Please enter the name
+91 Please enter the mobile number
Please select the product
(Please enter words below)

Live Chat

May I help you?

Begin Chat
expert_blog
 

How Travel Insurance Protects Against Sudden Medical Expenses Abroad

Posted by - Sanjay Datta, Chief - Underwriting, Reinsurance & Claims
April 03 2018

How travel insurance protects against sudden medical expenses abroad


Indians today are travelling far and wide more frequently than they ever did in the past. Though outbound tourism from India has surged, not many people even today have recognised the need for travel insurance.

It is observed that most of the travellers do not opt for a travel insurance unless it is made compulsory as visa requirement e.g. in the Schengen countries. Therefore, most of the travellers have no ‘Plan B’ if anything was to go wrong in their much awaited trips. Travel insurance offers a cover for a lot of trip related contingencies like loss of passport, trip cancellation and interruption, trip delay, missed flight connection etc.

A major highlight of the travel insurance is that it safeguards one against unforeseen medical contingencies that might happen while you are on your trip. Medical emergencies in a foreign land can not only disrupt the well planned trip but also burn a big hole in one’s pocket, not to mention the distress of finding a trustworthy facility in a foreign land and managing everything all alone.

Medical emergencies

Medical emergencies whether on account of illness or accident can happen anytime, anywhere. In fact, analysis of travel insurance portfolio suggests that the maximum number of claims in a foreign land happen on account of accidents, followed by infectious diseases and gastrointestinal claims.

On a recent trip to Egypt, a traveller had an unfortunate accident where she fell off while enjoying a camel back ride. The initial swelling in the back aggravated and upon visiting the doctor, it was confirmed that she had suffered a fracture in the lower back L1 spine. She was advised to undergo an operative intervention urgently. However, the hospital where she was admitted did not have the appropriate facilities to conduct the same. She had to be brought back to India in a specially arranged air ambulance. The expenses for the entire activity was around $50,000.

Fortunately, the family had bought travel insurance which took care of the financial as well as operational aspects of arranging an air ambulance and ensured that the customer reached India with the requisite medical care in minimum possible time. The average claim size for accidents in the US is about Rs2.5 lakh and in Schengen countries is about Rs 2 lakh.

In another instance, an insured while on a trip to Australia, started experiencing high fever and vomiting. He also complained of dysponea, delirium and was found to be hypotensive. After initial clinical examination and on the basis of blood and urine C/S report, the insured was diagnosed with Urosepsis and was then given supportive care. The insured was discharged on with medications and the cost for the entire process was about $7,500. Imagine bearing this expenditure from one’s own pocket.

The cover doesn’t cost much

Travel insurance does not cost much. Just to give an idea, a seven day trip to anywhere in Asia can be bought at a price lesser than a haircut at a fancy salon. On the other hand, the risk that one carries by not purchasing travel insurance is immense. A foreign trip is one of the most anticipated event for most us, involving immense planning, saving and preparation.

Things do not always go as planned. Having a safety net in the form of travel insurance can ensure that the entire trip is actually taken care of.

*Source: Financial Express

Write a review

Related articles

17

April 2014
  • Few steps to reduce your Car Insurance Premium

    High inflation is causing a dent in our savings with each passing day. To add to that, there are other expenses that cannot be avoided. Paying for your home loan EMI, car EMI as well expenses on car maintenance
    Posted By - Sanjay Datta
    Read More

11

April 2014
  • Health Insurance: Going beyond features & benefits!

    Buying a health insurance is an extremely important activity to ensure security and well being for our family. However, while choosing the best features and benefits, you need to also pay equal attention to the exclusions, policy terms/ clauses.
    Posted By - Sanjay Datta
    Read More

18

May 2014
  • Home Insurance - Much more than a cover for your house structure

    First the Uttarakhand catastrophe and then Cyclone Phailin - one after the other natural catastrophes have been hitting the Indian sub-continent with full velocity destroying thousands of homes
    Posted By - Sanjay Datta
    Read More

14

April 2014
  • International Travel Insurance - A lot more than just the flight journey

    Travelling abroad on a holiday is something each one of us aspires for. Visiting exotic locations, experiencing the local culture and heritage, relishing local cuisines are things that we look forward to when on an international leisure trip.
    Posted By - Sanjay Datta
    Read More

14

September 2015
  • Have you declared the correct IDV for your vehicle?

    It is a testing time for Indian consumers. Amid a sluggish economic growth and persistently high interest rates, the need to manage monthly budgets without compromising on essential amenities remains a daunting task.
    Posted By - Sanjay Datta
    Read More

08

February 2018
  • Cyber Insurance: A solution against risk of digital warfare

    What makes Cyber Insurance crucial in the new tech era? Sanjay Datta, Chief - Underwriting & Claims, ICICI Lombard General Insurance, tells us how Cyber Insurance can provide coverage against the growing rate of data hacking threats.
    Posted By - Sanjay Datta
    Read More

29

March 2018
  • Better Safe Than Sorry

    Sanjay Datta - Chief Underwriting, Claims and Reinsurance, ICICI Lombard GIC gives his view on Cyber Security and Cyber insurance. Click here to know more.
    Posted By - Sanjay Datta
    Read More

18

April 2018
  • Don’t Let a Fire Raze Your Dreams, Stay Insured

    Know how fire insurance can provide you financial backing when your property is damaged by accident. This article is from Sanjay Datta - Chief, Underwriting Claims and Reinsurance, ICICI Lombard GIC
    Posted By - Sanjay Datta
    Read More

17

April 2018
  • Ever Thought of Securing Your Travel?

    Know why travel insurance will change the way you travel. This article is from Sanjay Datta – Chief Underwriting Claims and Reinsurance, ICICI Lombard GIC
    Posted By - Sanjay Datta
    Read More

27

September 2018
  • Enjoy stress-free holidays with new and improved travel insurance covers

    A famous travel quote says, "It's better to see something once than hear about it a thousand times." With increasing income of middle class, low-cost travel and changing attitude towards spending, the dream of visiting the many tourist attractions are slowly becoming a reality.
    Posted By - Sanjay Datta
    Read More

18

September 2018
  • Technology will Shape Insurance Claims Settlement in The Future

    Historically, the insurance industry has been slow on the innovation front. The systems and processes that are in place currently, have remained unchanged for decades and are being followed in the same way today too. This use of legacy systems have led to claims being a slow, cumbersome and time-consuming process, that is not at all pleasant for the customer and even the insurer.
    Posted By - Sanjay Datta
    Read More