CHAPTER.1.

INTRODUCTION TO INSURANCE INDUSTRY:-

Insurance is a form of risk management in which the insured transfers the cost of potential loss to
another entity in exchange for monetary compensation known as thepremium. Insurance allows
individuals, businesses and other entities to protect themselves against significant potential losses
and financial hardship at a reasonably affordable rate. Insurance is appropriate when you want to
protect against a significant monetary loss.

Takelife insuranceas an example. If you are the primary breadwinner in your home, the loss of
income that your family would experience as a result of our premature death is considered a
significant loss and hardship that you should protect them against. It would be very difficult for your
family to replace your income, so the monthly premiums ensure that if you die, your income will be
replaced by the insured amount. The same principle applies to many other forms of insurance. If the
potential loss will have a detrimental effect on the person or entity, insurance makes sense.
Everyone that wants to protect themselves or someone else against financial hardship should
consider insurance. This may include:

1. Protecting family after one's death from loss of income.

2. Ensuring debt repayment after death.
3. Coveringcontingent liabilities.
4. Protecting against the death of a key employee or person in your business.
5. Buying out a partner or co-shareholder after his or her death.
6. Protecting your business from business interruption and loss of income.
7. Protecting you against unforeseeable health expenses.
8. Protecting your home against theft, fire, flood and other hazards.
9. Protecting you against lawsuits.
10.Protecting you in the event of disability.
11.Protecting your car against theft or losses incurred because of accidents.
Etc.

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  THERE ARE TWO TYPES OF INSURANCE:-

FIRE INSURANCE

MEDICAL INSURANCE

GENERAL INSURANCE
PERSONAL ACCIDENT
CORPORATION OF
INSURANCE
INDIA
TYPE OF INSURANCE
LIFE INSURANCE
CORPORATION OF MOTOR INSURANCE
INDIA

TRAVEL INSURANCE

1. LIFE INSURANCE CORPORATION OF INDIA:-

Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread the
message of life insurance in the country and mobilize people’s savings for nation-building activities.
LIC with its central office in Mumbai and seven zonal offices at Mumbai, Calcutta, Delhi, Chennai,
Hyderabad, Kanpur and Bhopal, operates through 100 divisional offices in important cities and
2,048 branch offices. LIC has 5.59 lakh active agents spread over the country. It has also entered
into an agreement with the Sun Life (UK) for marketing unit linked life insurance and pension
policies in U.K. The total new business of the Corporation during 1998-99 was RS 75,316 crores of
sum assured under 148.43 lakh policies. LIC’s group insurance business up to 31 March 1999 was
RS 66,085 crores (provisional) providing cover to 219 lakh people. Life insurance is an insurance
coverage that pays out a certain amount of money to the insured or their specified beneficiaries upon
a certain event such as death of the individual who is insured. The coverage period for life insurance
is usually more than a year. So this requires periodic premium payments, either monthly, quarterly
or annually.

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2. GENERAL INSURANCE CORPORATION OF INDIA:-

General insurance is basically an insurance policy that protects you against losses and damages
other than those covered bylife insurance. The coverage period for most general insurance policies
and plans is usually one year, whereby premiums are normally paid on a one-time basis.

General insurance industry in India was nationalized and a government company known as General
Insurance Corporation of India (GIC) was formed by the Central Government in November 1972.
With effect from 1 January 1973 the erstwhile 107 Indian and foreign insurers which were operating
in the country prior to nationalization, were grouped into four operating companies, namely,
(i) National Insurance Company Limited;
(ii) New India Assurance Company Limited;
(iii) Oriental Insurance Company Limited; and
(iv) United India Insurance Company Limited.
All the above four subsidiaries of GIC operate all over the country competing with one another and
underwriting various classes of general insurance business. From 799 offices in 1973, the network
grew to 4,208 offices as on 31 March 1998. Besides the domestic market, the industry is presently
operating in 17 countries directly through branches or agencies and in 14 countries through
subsidiary and associate companies. The wholly-owned subsidiary of GIC known as India
International Insurance Private Limited set up in 1988 in Singapore has grown into a leading
company in the Singapore market. The gross premium income of the general insurance industry in
India during 199798 was RS 7,736 crores as against RS 7,021 crores during 1996- 97 representing a
growth of 10.2 per cent over the premium income of 1996- 97. The net premium income of the
general insurance industry in India during 1997-98 was RS 6,725 crores as against RS 6,041 crores
during 1996- 97 representing a growth of 11.3 per cent over the net premium income of 1996-97.
The gross profit of the industry during 1997-98 were RS 1,623 crores as against RS 1,084 crores in
199697 recording a growth of 49.7 per cent over the previous year. The net profits of the industry
during 1997-98 were RS 1,255 crores as against RS 719 crores in 1996-97 representing a growth of
74.5 per cent over the previous year.

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  TYPE OF GENERAL INSURANCE:-
1. FIRE INSURANCE:-
It is a form ofproperty insurancewhich protects people from the costs incurred by fires. When a
structure is covered by fire insurance, theinsurance policywill pay out in the event that the structure
is damaged or destroyed by fire. Some standard property insurance policies include fire insurance in
their coverage, while in other cases, fire insurance may need to be purchased separately. Property
owners should check with their insurance companies if they are not sure whether or not fire
insurance is part of their policies, and if fire insurance is not
Included, it should be purchased. Depending on the terms of the policy, fire insurance may pay out
the actual value of the property after the fire, or it may pay out thereplacement value. In a
replacement value policy, the structure will be replaced in the event of a fire, whether it has
depreciated or appreciated: in other words, if homeowners purchase a home and the value increases,
as long as it is covered by a replacement value policy, the insurance company will replace it. An
actualpolicy covers the structure, less depreciation. Most accounts come with coverage limits
which may need to be adjusted as property values rise and fall.

2. MEDICAL INSURANCE:-
Life is full of uncertainties: an untoward event can strike an individual anytime, anyplace. It is for
such a reason that individuals need to be prepared and plan their finances better. This is where a
Mediclaim policy comes to an individual's rescue and helps him not only tide over a potential crisis
but also protects him from a disproportionate and/or unplanned outflow of his personal finances.
Simply put, a Mediclaim policy is a non-life insurance policy, which covers the expenses incurred
by an individual in case of an injury/hospitalization. Mediclaim covers not only the expenses
incurred during hospitalization but also the pre and post-hospitalization expenses (subject to
conditions).Individuals have to pay a minimal premium for buying medical insurance. An
illustration will help in understanding this better.

3. PERSONAL ACCIDENT INSURANCE:-

Sometimes even a small accident or mishap can throw your financials out of gear. Get
insured to be prepared for those trying times. Accident Insurance is specially designed
to protect you from the following unforeseen events - Death, Total Disability and

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Permanent Partial Disability. This comprehensive policy will help your family meet
its financial commitments in the hour of need. This is available for the age band
between 5 to 70 years. The proposer’s age should be between 18 to 70 years.

1. MOTOR INSURANCE:-
It is aninsurancepurchased forcars,trucks,motorcycles, and other road vehicles. Its
primary use is to provide financial protection against physical damage and/or bodily
injury resulting fromtraffic collisionsand against liabilitythat could also arise there
from. The specific terms of vehicle insurance vary with legalregulationsin each
region. Depending on the jurisdiction, the insurance premium can be either mandated
by the government or determined by the insurance company, in accordance with a
framework of regulations set by the government. Often, the insurer will have more
freedom to set the price on physical damage coverage’s than on mandatory liability
coverage’s. The premium can vary depending on many factors that are believed to
have an impact on the expected cost of futureclaims. Those factors can include the car
characteristics, the coverage selected (deductible, limit, covered perils), the profile of
the driver (age,gender, driving history) and the usage of the car.

2. TRAVEL INSURANCE:-
It is an insurancethat is intended to covermedicalexpenses,financial defaultof travel
suppliers, and other losses incurred whiletraveling, either within one's own country,
or internationally. Temporary travel insurance can usually be arranged at the time of
thebookingof a trip to cover exactly the duration of that trip, or a "multi-trip" policy
can cover an unlimited number of trips within a set time frame. Coverage varies, and
can be purchased to include higher risk items such as "winter sports".

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CH APTER.2. INTRODUCTION TO TRAVEL INSURANCE:-
Travel insurance is insurancethat is intended to cover medicalexpenses, financial defaultof travel
suppliers, and other losses incurred while traveling, either within one's own country, or
internationally. Temporary travel insurance can usually be arranged at the time of the bookingof a
trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an unlimited number
of trips within a set time frame. Coverage varies, and can be purchased to include higher risk items
such as "winter sports".

 THE MOST COMMON RISKS THAT ARE COVERED BY TRAVEL

INSURANCE ARE:

• Medical/dentalexpenses
• Emergency evacuation/Medical Air Evacuation/repatriation of remains
• Return of a minor child
• Trip cancellation/interruption
• Accidental death,injuryor disablementbenefit
• Overseas funeral expenses
• Curtailment
• Delayed departure, missed connection
• Lost, stolen or damaged baggage, personal effects or travel documents
• Delayed baggage (and emergency replacement of essential items)
• Legal assistance
• Trip Cancellation
• Flight Connection was missed due to airline schedule
• Travel Delays due to weather
• Medical Emergency and hospital care (Accident or Sickness)

 INDIAN TRAVEL INSURANCE OVERVIEW

Travelling is one of the more pleasurable experiences for one and all. In the travel insurance context,
travel to exotic destinations can be divided as domestic and overseas travel. Travelling within India

6
is called as domestic travel and once you are out of India its overseas travel. Travel insurance is very
essential when you travel, be it domestic or International travel.

Calamities and pandemics across the globe are also common these days. Travelers, despite of their
age have to be careful about their health particularly when they are outside their familiar
surroundings. They need proper medical insurance coverage as falling ill or getting injured is not
predictable. There are several travel insurance plans to suit your requirements; it can be purchased
to safeguard you and your family respectively. Shop around online to learn more about the
distinctions between different travel insurance plans before buying.

Travelling overseas has become common nowadays with people travelling abroad either to visit
their close ones or simply for recreation or through business. The United States and Canada are two
nations in North America that are frequented by Indians. While it is exciting to visit America,
visiting an American hospital as a patient is not as exciting. The health care costs are exorbitant, and
even though, insurance is not mandatory to travel to these countries, it is highly recommended.

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 CHAPTER.3. NEED, ADVANTAGES & DISADVANTAGES OF
TRAVEL INSURANCE:-

NEEDS OF TRAVEL INSURANCE:-

Most of these policies cover cancellations due to weather, sudden illness, death and emergencies
whilst at home or abroad.
It is for medical emergencies. This is particularly useful if you plan on traveling to underdeveloped
countries, or for individuals with an ongoing illness that might require medical attention at some
point during the trip. These policies will reimburse you for the cost of doctor visits, medication, and
sometimes even medical evacuation out of the country.

For longer trips, or for frequent travelers, a comprehensive insurance package is probably the best
value. These usually provide a wide variety of coverage, and some even allow you to choose what
kinds of coverage to be included. Since it's impossible to know what problems might arise during
your trip, these policies cover all the bases so that you have protection against monetary loss in the
event of nearly any emergency.

YOU NEED TO CANCEL:-

1. You’ve planned to go skiing for ages, and you’ve finally got the trip scheduled. Just
before you are due to leave, the kids get sick with the flu.
You’ll be taking care of them for days and it will be a miracle if you don’t get sick yourself.
Will you be able to recover your nonrefundable fees – even the lift tickets?

2. You’ve been planning an anniversary trip, but the week before you are scheduled to
leave, your boss calls to tell you that you are required to work for a week of emergency
meetings. Will you be able to reschedule your trip and recover the money you put down?
3. You are taking the family on a cruise before school starts. Days before your scheduled
departure, severe rain causes flood damage to your home. With only a week to dry out and
make the repairs before returning to work, you’ve got more immediate – and more expensive
– things on your mind. Will you be able to get your money back? With trip cancellation

8
coverage, you’ll be able to recover your out-of-pocket expenses for these covered reasons
and more.

4. You’ve planned a cruise with your girlfriends, but you discover the connecting flight
to get to the ship is delayed. The customer service agents apologize for the missed
connection, but it looks like you will miss your cruise departure. How will you catch up to
the ship? With missed connection coverage, you can take another flight to catch the ship at
the next port-of-call. You’ll also have assistance services to help you arrange and pay for
those travel changes.

5. After attending the family reunion, you arrive at the airport to return home and are
told tornadoes have canceled all flights through Dallas. Who will help you find a new flight
to return home? With trip interruption coverage, you’ll have the money you need to get a
new return ticket or wait out the delay in a comfortable hotel.

6. You saved all year for a summer vacation to Aruba, but as the vacation draws closer,
so does a hurricane that destroys the hotel, shatters the pool, and litters the beach with debris.
As you watch the television in horror, your dream vacation is washed away. Will you lose all
the money you worked so hard to save? With travel insurance protection for weather
damage, you’ll be able to recover your pre-paid costs.

7. You’ve planned an excursion to Egypt for years, but weeks before leaving a terrorist
attack occurs. The airports are closed and Egypt is in chaos. It would be unwise to travel
now, but will you lose all your nonrefundable fees? With terrorism coverage, you can cancel
your trip without losing all the money you’ve spent.

8. You and your friends have planned a hiking trip to climb Machu Picchu since college.
After your first night in Lima, you wake with severe stomach pains and a high fever. You
cannot start your hike. Instead, you need emergency medical care – and quick. With travel
medical coverage, you won’t be paying a huge medical bill. You’ll also have assistance
services – in your own language – to locate a suitable medical facility and arrange
transportation.

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9. Your special day has finally arrived – a wedding at a beach side resort. Unfortunately,
the airline made a mistake and your baggage will be delayed. Luckily you’ve got the dress
and the rings, but what about your other clothes, shoes, toothpaste, and personal items? With
coverage for delayed bags, you can relax. The service hot-line will help you recover your
bags. You’ll also be reimbursed for the essential items you need to start enjoying your trip.

10. You are required to speak at a business conference in Las Vegas, but somewhere in
transit, your baggage is lost. Your presentation is tomorrow, how will you get ready in time?
With coverage for luggage that is lost, stolen, or damaged, you’ll have the money you need
to get new clothes and personal items. You’ll even have coverage for a suitcase so you can
take your new stuff home.

11. You are at a conference in London, and you realize you left your passport at a local
restaurant. With coverage for lost passports, you’ll have help expediting the process of
replacing and paying for a new passport.

12. You and your daughter have planned a summer tour of Mont-Blanc, but high in the
mountains your daughter is overcome with dizziness and a dangerously high fever. She
needs immediate medical attention. How will you get her to safety? With medical evacuation
coverage, you can arrange safe transportation to a medical facility. Medical evacuations
typically cost tens of thousands of dollars, but with trip insurance you won’t break the bank
to save your daughter.

13. You’ve planned a two-week honeymoon cruise to Alaska, but a week before the trip
you see on the news that your cruise is canceled due to financial default of the cruise
company. How will you recover your money?
With trip insurance that covers financial default, you’ll be able to recoup your expenses.
With the help of assistance services, you’ll be able to reschedule your cruise as well.

14. You and your parents have planned a trip to their home country, but on your way, the
train is canceled for mechanical repairs. You don’t speak the language. Who can help you
locate alternative transportation?

10
 With trip insurance you’ll have emergency assistance services. The service agents will
recover your nonrefundable fees, then locate and pay for transportation to get you where you
want to be.

ADVANTAGES OF TRAVEL INSURANCE:-

Travel insurance is usually the last thing on people's mind when they are booking a trip, but can turn
out to be the most important thing to have when you are in a crisis situation. Here are some
advantages of booking travel insurance:
1. Medical Care: The most obvious advantage is that if you fall sick on your trip, you
will be covered for any medical care you need. Make sure you understand the limitations in
your policy, as some have upper limits for the amount they will pay.

2. Medical Transport: Most insurance policies will pay for you to be transported to a
medical establishment, such as by road or air ambulance.

3. Repatriation: Insurance will also pay for the cost to be returned to your home country
after your medical treatment, along with a medical professional. This also covers the
transport of your remains if you die while abroad.

4. Medical Evacuation: In the event of you being extremely sick and there not being a
good hospital where you are, you will be evacuated to the nearest good hospital for
treatment, even if this means taking you to another country.

5. Hospital Incidentals: This covers incidental costs while you are a patient in a hospital.
This is only given after a minimum length of stay and also has an upper limit on the amount
you can claim.

6. Cancellation or trip interruption: This covers any costs of you having to change the
duration of your trip, such as flight changes etc. This includes a death in the family, or
something happening to your home, such as fire.

11
 7. Missed Flights: This covers all added costs if you miss your flight back home. This
will help you get the first possible flight back, as well as cover any extra costs of changing
flights or hotel stays.
8. Personal Liability: This gives you cover in case you hurt a third party or damage any
property.

9. Legal Expenses: There is usually some sort of cover provided if you have to get
involved in litigation while on your visit.

10. Personal Accident: This means that if you get hurt or die during your trip, you will be
given some amount of money.

11. Personal Baggage: This covers your belongings while on the trip. If you lose a bag, a
laptop or any other belongings, you can claim compensation for it. This is usually
accompanied with information on the maximum amounts you can claim, for instance on
jewelry.

All of these are advantages of carrying travel insurance, however, the covers given to you under
different policies vary, and so make sure you read the fine print before you sign any documents or
pay for your cover. Depending on where you are going, and how long you are going for, you will be
required to pay different amounts. So, it may be more expensive to buy travel insurance for a
dangerous country, as compared to a country with low crime rate.

 DISADVANTAGES ABOUT TRAVEL INSURANCE INDIA:-

1. The interesting info locating travel insurance India greatly provides more benefits than some
disadvantages. Still, a few might would like to appreciably reduce your flip aspect your well.
So, most certainly don’t disadvantage mounted on client get a insurance.

2. Solution to your idea that a lot of the truth is sometime comes to pass in your direction
understanding traveling. So, the majority of buy items travel insurance, an individual could
convey more your money inside pocket.
3. They certainly efforts contrary to insurance if you happen to junior and after that in good
health they will not constantly fall sick. In which performing yourself, reasons why I would
select insurance as soon as easily, and one motives have provides gain therefore the risk
because of will surely which you can me is most probably longer than those risk which often
can one thing happening.
12
4. Relocating a widespread tourist and therefore little or nothing does have by chance
happened, watches or just minimal desire to buying insurance now.

5. Take part in terribly skeptical may are convinced finding travel insurance is often a waste
debris regarding money.

6. Awful crops during the careless or sometimes ready to occupy the fact jeopardize and still
not must splash out on travel insurance of a any kind of kind.

7. Once there is the meticulously away to the end of the different eliminating hair by waxing on
top of that cons, achievable evaluate the public in the buy goods travel insurance India or it
may be not. It includes opposite viewing what we liked and yet cons. A lot of stuff on when
travelers travel plus so what purpose. So, makeup the mind and make sure to travel safe. Bon
voyage!

13
 CHAPTER.4.COVERAGE & NATURE OF CLAIMS OF
TRAVELLINSURANCE:-

 TRAVEL INSURANCE COVERS:-

The intent of travel insurance is to provide financial protection against large unexpected financial
losses due to listed unforeseen events that occur while you are traveling. Unforeseen events are
those situations that result from sudden, unpredicted, and unknown conditions. Travel insurance
covers you, and those insured with your policy, for unforeseen events such as:

• Unexpected medical emergencies or death

• Medical emergencies, including sudden illnesses or injuries (and preexisting medical
conditions if the insured purchases apre-existing condition waiverwith their plan)

• The need foremergency medical transportation or evacuation(some plans also provide

coverage for non-medical evacuations in certain situations)

• The repatriation of an insured’s remains in case of death

• The need to cancel or interrupt your trip for a covered reason (the plan will listcovered
reasons for trip cancellationsand interruptions)

14
• Unexpected loss of a job at which you have worked for less than 3 years
(Most policies provide coverage if you’ve worked in a position for at least three years,
although some require a minimum of five)

• A travel supplier suddenly and unexpectedly ceasing operations

• Delays due to severe weather such as hurricanes, tornadoes, earthquakes and more
• Lost, stolen or destroyed belongings packed in checked bags
• Trip delays due to unexpected and unannounced labor strikes
• Trip interruptions and cancellations due to terrorist acts at your destination
• Traffic accidents or damage to a rental car, or the loss of a rental car due to theft
• Loss of life or functioning limbs
• Flight accidents
• A non-medical evacuation because you are declared a persona non grata by a country you are
visiting on your trip and you are asked to leave.
• Because medicines and medical treatments are given different names around the globe, this
coverage gives a traveler access to a drug translation guide. It also includes access to a
medical phrase and terms translation guide.
• Some plans offer the traveler their choice of hospital or medical facility in the event of an
emergency medical evacuation.

• This one’s great for grandparents and expectant fathers who are traveling. A covered reason
for trip cancellation and trip interruption includes needing to attend the birth of an immediate
family member’s child.
• This coverage provides medical evacuations and covers medical expenses due to
complications from medical treatment scheduled in a foreign country (also called medical
tourism).
• A covered reason for trip cancellation that includes canceling because the school year is
extended.

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  NATURE OF CLAIMS:-

A. RETURNING EARLY TO YOUR COUNTRY OF RESIDENCE:-

If you have to return to your country of residence under Section A (Cancellation & Curtailment) or
B (Emergency Medical and Treatment Expenses), the 24 hour medical emergency service must
authorize this. If they do not, this could mean that we will not provide cover or we may reduce the
amount we pay for your return to your country of residence. The 24 hour medical emergency service
reserve the right to repatriate you should our medical advisors view you as being fit to travel, if you
refuse to be repatriated then all cover under this policy will cease. The 24 hour medical emergency
service may be contacted from anywhere in the world to provide assistance to you.

A. WHEN YOU RETURN HOME – MAKING A CLAIM:-

If you need to make a claim, please complete and return the relevant claims form below no later than
31 days after the event:

1. Policy cancellation, trip interruption in travel insurance:-

Travel insurance can be cancelled conveniently online. If the insured prefers to get his/her travel
insurance policy cancelled before the policy start date then he/she should intimate the E India

16
 Insurance by sending an email. The insured should furnish policy number or schedule number in the
email. If the cancellation request is after the start date of the policy then Photo copy or Scan copy of
all the pages of the passport should be sent to Insurance Company as a proof that he/she has not
travelled overseas. In both the cases there will be a 250/- cancellation charges. Covers any financial
loss, unrecoverable by other means, such as lost deposits or non-refundable transport costs, you
suffer as a result of having to cancel or cut short your trip or having to return home suddenly.

2. Curtailment claims settlement in travel insurance:-

The efficiency of an insurance company is best determined considering the history of claims
settlement. Cashless settlement in travel insurance for outpatients can be availed by walking in to
the hospitals directly. If the insured is an inpatient, then he/she is expected to inform the service
provider by calling the toll free number specified on the policy document. Signed claim form, policy
copy and other documents as specified by the insurer is required to apply for a claim. Common
reasons for claiming under this section would be the sudden and unexpected serious illness or death
of a close relative, or something happening to your home such as fire or flood. What is considered a
valid reason to claim under this section varies from policy to policy so as usual you must read the
small print.

3. Medical expenses:-

The likelihood of person suffering from an ailment or disease is very high especially in these days of
swine flu epidemic etc. Hence hospitalization will be needed in most cases for a person who is
suffering from such ailments. The plan should pay for in-patient and out-patient hospitalization. It
should provide a daily allowance in case of hospitalization.

a. Emergency Medical Treatment: - Covers the cost of emergency medical treatment, this
usually involves being treated at a hospital but not necessarily. Prior authorization by the insurer is
normally required if the expected cost of treatment is likely to be above a fixed amount set out in the
policy wording, this is often quite low, in the hundreds of pounds.
b. Emergency Medical Assistance: - Covers the cost of emergency medical assistance, mainly getting
someone to hospital, whether that is the costs of a road ambulance or where necessary anair
ambulanceor sea rescue, although you must check that you are covered for the activity in which
you were participating when injured or becoming ill.

17
 c. Medical Evacuation: - In the event of there being no hospital capable of treating you locally, this
section of the policy covers the costs of transporting you to the nearest hospital that can treat you,
even if it is in another country.
d. Hospital Benefit: - It is a small daily amount to cover incidental costs of being a hospital in-patient
abroad. Usually a minimum length of stay requirement and a maximum limit on the total benefit
paid.
e. Personal Possession Contingencies:- One of the most common grouses of a traveler in a foreign
country is the loss of passport or baggage while travelling. The policy should provide coverage
against loss of passport or baggage by reimbursing the cost of obtaining a fresh or duplicate
passport.
f. Time Based Contingencies:-So also with the heavy density of air travel, there are high chances of
flight delays etc. especially during the snowfall or rainfall seasons. The Travel Policy should
reimburse towards additional expenses incurred if trip is delayed. In case of the trip being cancelled
or interrupted, compensation for any nonrefundable payments or additional expenses incurred
should be paid.
g. Other Contingencies:- In a foreign country, there are many chances of personal accidents
happening wherein one might involuntarily damage another person. Hence, a travel policy should
also cover you against liability to a third person caused involuntarily by you or your family. Also
theft of foreign currency in a foreign country should also be covered.
h. Personal Liability:-It provides cover in the event that you injure a third party or damage their
property, although there is often exclusion
for liability arising from the use of a vehicle or by an animal under your control, such as
a horse or dog.

4. Strikes & hijacks:-

This provides a daily allowance if your travel is delayed for more than 12 hours from reaching your
scheduled destination due to organized industrial action, strike or hijack.

5. Missed departure:-

It covers additional costs if you miss your scheduled means of transport for departing your home
country and the first international means of transport on the return journey. Cover under this section
is usually restricted to incidents out of your control such as failure of public transport or your own
vehicle breaking down, although you may be required to prove that it had been maintained
18
 regularly. Missed connections in a third country that is not your home country or the final
destination country are often excluded.

6. Legal expenses:- In the event of you becoming involved in litigation there is some cover for legal
costs.

7. Personal belongings / baggage:-

It covers for your personal belongings and money that you take with you. There is usually an overall
limit that is the maximum for any claim as well as limits for individual types of property. These are
the single item, pair or set of items limit, for instance a set of golf clubs is considered to be one item
and you cannot claim for each club separately. The valuables limit, valuables usually referring to
jewelry and electronic devices. There will be an individual item limit as well as a total valuables
limit being the maximum cover in any one claim for all items considered to be a valuable. There
will also be a limit on the amount of cash covered in a claim. In the event of theft there will also be
restrictions on valid claims with regard to where the item was, if it was secure, and a requirement to
report the theft to the police.

19
CHAPTER.5.DIRECTIONS FOR SELECTING COVERAGE BASED
ONNEED’S OF TRAVELER:-

 HOW TO SELECT THE RIGHT COVERAGE BASED ON YOUR

NEEDS:-

Each plan from each company can have very different coverage’s. Some will have certain coverage
while another plan might not. Also, the amount of coverage will vary between the different plans
($25,000 medical expense coverage vs. $50,000) Identify the coverage that is most important. When
you start comparing plans, you will need some criteria to help you prioritize and narrow down your
choices. The criterion you’ll use is a list of coverage’s that you think are the most important for your
trip. You might also factor in minimum coverage amounts on certain coverage’s like medical
expenses.
For example: -
A family taking a Disney cruise in September might have the following coverage criteria:
1. Hurricane & Weather coverage for cancellations is a must
2. Medical Evacuation coverage of at least $100,000 is necessary as well
3. Missed Connection coverage would be nice since there is a connecting flight
This list of coverage criteria will help the family choose a plan that meets their needs. They will be
able to filter out plans that do not have these minimum criteria, making the choice easier.
1. Most popular coverage criteria:-

a. Emergency Medical (at least $50,000)

b. Medical Evacuation (at least $100,000)
c. Pre-existing Medical Conditions
d. Cancel For Any Reason
e. Hazardous Sports
f. Hurricanes & Weather

g. Terrorism
h. Employment Layoffs
i. Missed Connections

j. Rental Car Coverage

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2. Cancellations:-

a. Trip Interruption
b. Hurricane & Weather
c. Terrorism
d. Financial Default
e. Employment Layoff
f. Cancel For Work Reasons

g. Cancel For Any Reason

3. Medical related:-

a. Primary Medical
b. Emergency Medical
c. Pre-existing Medical
d. Medical Deductible
4. Evacuations:-

a. Medical Evacuation
b. Non-Medical Evacuation
5. Loss or delays:-

a. Travel Delay
b. Baggage Delay
c. Baggage Loss
d. Missed Connection
6. Life insurance:-

a. Accidental Death
b. Air Flight Accident
c. Common Carrier
7. Sports:-

21
 a. Hazardous Sports
8. Other benefits:-

a. Rental Car
b. Money Back Guarantee
c. 24 Hour Assistance Service
d. Identity Theft
e. Renewable Policy
f. All Events Upgrade

g. Travel Insurance Plans & Premiums

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 CHAPTER.6. TRAVEL INSURANCE CAN BE TAKEN FROM:-

1.Buying travel insurance from third party company vs. through a travel agent:-

Many travelers like the idea of purchasing their travel and travel protection as a single purchase with
one company; however, this convenience and perceived cost savings may come at a price.
 Reasons to be wary of purchasing travel insurance from your travel agent:-

a. Travel agents earn extra money by selling travel insurance, but they may only offer the
travel insurance plans that earn the best commissions

b. Travel agents may have only a few plans to offer from a limited number of travel
insurance providers

c. While some travel agencies have at least one agent that is licensed to sell travel
insurance, many travel agents are not licensed insurance agents

d. A travel agent’s protection plans may or may not be backed by a legitimate underwriter
 Differences between purchasing from a 3rd party company vs. a travel agent

Travel Insurance Plans Travel Agent Protection

In the event of a claim, By a check in U.S. dollars.

how are you paid?
Payment depends on the reason
you have a claim - some payments
may be in the form of future travel
credits

Travel Insurance Plans Travel Agent Protection

With expiration dates.

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Are independent travel Yes, all nonrefundable pre- No, only the arrangements made
arrangements covered? paid travel costs are covered, and purchased through the travel
including third-party airline agent are covered.
tickets, side trips, tours, and
excursions.

Is bankruptcy or financial Yes, as long as you've No coverage

default covered? purchased a plan with that
coverage and met the plan
rules.

Are cancellations for Yes, depending on the plan. May or may not be covered
reasons of terrorism or
political unrest covered?

Does it include Yes, depending on the plan Often, but coverage limits are
emergency medical you choose; coverage limits usually quite limited ($10,000 -
coverage? as high as $1,000,000 are $25,000).
available.

Travel Insurance Plans Travel Agent Protection

24
Is there 'cancel for any Yes, depending on the plan. No coverage
reason' coverage?

Is trip cancellation for Yes, depending on the plan. May or may not be covered
schedule conflicts (jury
duty, work, school year
extensions) covered?

Does trip cancellation Yes, trip cancellations are No, cancellation coverage often
extend to my covered until the moment ends 1-3 days prior to your
departure? you leave home. scheduled departure.

Is there coverage for pre- Yes, depending on the plan. May or may not be covered
existing medical
conditions?

Is there an official body Yes, travel insurance plans No, if you have a dispute, your
regulating the plans? are regulated by each state's only recourse is to file legal action
Insurance Licensing which will likely cost additional
Department. money.

 Some plans offered by travel agents may not be 100% travel insurance and those plans don’t
provide the same level of coverage

 3rd party travel insurance companies have a number of plans that can be compared side-by-
side with a comparison engine

25
 2. Why buying travel insurance from a 3rd party company is better than buying from a
cruise line:-

Cruise travelers are usually offered a host of protection plans and waiver plans by the cruise line
operator when they schedule and pay for their cruise travel.
Travelers may feel tempted to purchase these plans as a ‘quick fix’ to their travel insurance needs.

 Differences between cruise line protection and travel insurance

Travel Insurance Cruise Line Waiver Plans

Plans

In the event of a claim, By a check in U.S. dollars. Usually in nontransferable partial

how are you paid? credits that expire and have a number
of limiting rules.

Are independent travel Yes, all nonrefundable No, only the arrangements made and
arrangements covered? pre-paid travel costs are purchased through the cruise line
covered, including third- operator are covered.
party airline tickets, side
trips, tours, and
excursions.

Is bankruptcy or Yes, as long as you've No coverage

financial default purchased a plan with that
covered? coverage and met the plan
rules.

26
 Travel Insurance Cruise Line Waiver Plans
Plans

Are cancellations for Yes, depending on the May or may not be covered
reasons of terrorism or plan.
political unrest
covered?

Does it include Yes, depending on the Often, but coverage limits are usually
emergency medical plan you choose; coverage quite limited ($10,000 - $25,000), plus
coverage? limits as high as you may be forced to evacuate the
$1,000,000 are available. ship if the on-board medical facility
cannot treat you, thus incurring
additional expenses.

Is there 'cancel for any Yes, depending on the No coverage

reason' plan.
coverage?

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Is trip cancellation for Yes, depending on the May or may not be covered
schedule plan.
conflicts (jury duty,
work, school year
extensions) covered?

Travel Insurance Cruise Line Waiver Plans

Plans

Does trip cancellation Yes, trip cancellations are No, cancellation coverage often ends
extend to my covered until the moment 1-3 days prior to your scheduled
departure? you leave home. departure.

Is there coverage for Yes, depending on the May or may not be covered
pre-existing medical plan.
conditions?

Is there an official body Yes, travel insurance plans No, if you have a dispute, your only
regulating the plans? are regulated by each recourse is to file legal action which
state's Insurance Licensing will likely cost additional money.
Department.

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  Reasons to buy travel insurance from a 3rd party company (and NOT the cruise line)

a. Your trip insurance will extend beyond the cruise line and provide coverage from the time you leave
home until the time you return.

b. Your trip insurance will extend to independent travel arrangements before, during, and after your
cruise, including flights and hotels at end, tours and excursions and more.

c. Your travel insurance can be much more complete and include coverage for trip cancellation,
cancellations for work reasons, flight delays, financial default, bad weather, pre-existing medical
conditions, medical evacuations, and more. See acomplete explanation of travel insurance coverage.

d. You will be reimbursed in cash as opposed to future cruise line credit vouchers.
e. Purchasing through a state-licensed travel insurance agent means you’ll have real travel insurance
backed by regulated underwriters.

 Cruise line protection plans are not 100% travel insurance and come with significant limitations
 Cruise line plans protect only the cruise portion of your trip
 Purchasing your travel insurance through a 3rd party travel insurance provider yields better coverage

3. Buying travel insurance directly from the company vs. Using a comparison site:-
Travel insurance companies offer their products for purchase on their own websites to make it easy
for travelers to purchase their plans. While each website is designed a little differently, they all ask
for a few up-front details about your travel plans: when you’re going, how much it will cost, and
where you’re going, before displaying a list of travel insurance plans to fit your needs. Whether
buying directly from a travel insurance company or purchasing through a comparison site, you can
get immediate quotes, pay with a credit card, and receive an e-mail with your purchase confirmation
and travel insurance plan documents. No price difference when using a comparison site. Benefits
of buying through a comparison site:-

A comparison site gives you access to many plans offered by a number of different travel insurance
providers (seeHow to Compare Quotes with a Travel Insurance Comparison Site). Some of the
features that make using a comparison engine attractive include:
a. Side-by-side comparisons of individual plans and coverage’s

b. Send quotes to other travelers by e-mail

c. Review travel insurance company and plan ratings

29
d. Make plan upgrade selections and see real-time price adjustments

e. Instant access to review plan certificates

f. Purchase immediately and receive an e-mail confirmation and plan documents

 Benefits of buying directly from the travel insurance company:-

Buying directly from the travel insurance company’s website gives you access to all of the
company’s plans at once. Some of the features that make purchasing this way attractive include:

a. Access to the company’s guarantees and customer support

b. Many, but not all, company websites offer plan comparison capabilities
c. Review plan descriptions and exclusions

d. Access to the company’s travel alerts

e. Instant access to review plan certificates

f. Purchase immediately and receive an e-mail confirmation and plan documents

4. Do not shop for travel insurance based on price alone:-

Every traveler is looking for the best deal and no one likes to feel they’ve paid more than they
should have, but when it comes to insurance it’s hard to judge what an insurance benefit in hand is
worth until you need it. Shopping for travel insurance based solely on price may leave you wishing
you’d spent a little more.

What happens if even worse ... Why Travel Insurance is priceless

...

You are badly You brought the kids With emergency evacuation coverage you'll
injured while along have coverage for expensive evacuations
traveling abroad and some plans return your children home
and hospitalized and/or bring someone to your bedside.

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Your luggage has Your tuxedo was in it The airline has limited responsibilities for
been lost by and the wedding is missing luggage, but travel insurance
tomorrow baggage coverage provides reimbursement
the airline for replacement clothing and other
necessities (like a tuxedo rental).

Your tour operator You pre-paid by check With travel insurance protection for
goes out of business and their doors are financial default, your pre-paid money can
locked tight be refunded to you.

Your parents call Your child has been in
with bad news an accident and you need
while babysitting to get home now
the kids
With trip interruption protection, you can
leave your trip and be refunded your un-
used pre-paid travel costs and have
additional funds to make emergency flight
arrangements to get home.

What happens if even worse ... Why Travel Insurance is priceless

...

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Your connecting Your wife and kids are
flight is delayed due very tired and the airline
to an ice storm cannot reschedule your
flight until tomorrow at
the earliest
Your honeymoon The resort you pre-
destination is hit by
paid for
a hurricane
completely destroyed
With travel delay protection, you can be
reimbursed for a hotel room and
transportation, so everyone can get some
dinner and a good night's rest while the
storm blows over.
With travel insurance protection that
provides 'cancel for any reason' coverage,
is
you'll receive all your prepaid nonrefundable
trip costs and can reschedule your
honeymoon.
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 CHAPTER.7.TYPES OF TRAVEL INSURANCE:-

1. PACKAGE PLAN TRAVEL INSURANCE:-

When most people think of travel insurance, they are thinking of a package plan, which combines a
lot of coverage into a single, comprehensive plan suitable for most travelers. This is the most
common type of travel insurance plan. As opposed to atravel medicalormedical evacuation plan,
which covers only a certain set of travel risks, travel insurance package plans are the most common
type of travel insurance purchased, and for a good reason: they are comprehensive travel protections
combined into a single, easy-to-understand package. Much coverage combined in a single plan.
Travel insurance companies combine a comprehensive set of coverage’s for each package plan for
targeted traveler types. For example, you can find travel insurance plans for golf trips, that include
cancellation, interruption, medical and evacuation and provides coverage for your checked sports
equipment as well. It protects many kinds of travelers. Because you can choose a package plan with
the coverage’s you need, you won’t be paying for coverage that’s not useful to you. Optional
coverage’s ensure that travelers with special needs like pre-existing medical conditions or plans for
adventure activities have coverage ‒ even for things that are typically excluded from coverage. It
covers many types of trips. It’s important to note that there are package plans for just about any kind
of trip, from a family vacation, to a honeymoon, to a missionary trip, and more. The great thing
about package plans is that they are designed specifically to cover the common types of trips people
take. You can even get a package plan for multiple trips. Some package plans cover kids free too,
which means a better price value for parents and grandparents traveling with kids.

 The following coverage is typically found in a Package Plan travel insurance plan:-

• Coverage fortrip cancellationsfor covered reasons like illnesses, injuries, hurricanes, job
loss, revoked leave, military duty, traffic accidents and more.

• Coverage fortrip interruptionsfor many of the same reasons as trip cancellation plus extra
dollars for the unexpected airfare, lodging, and transportation.

• Coverage formedical and dental expensesdue to emergency illnesses and injuries.

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 • Coordination and coverage foremergency medical evacuations(some plans also have
security or political evacuation coverage) when you cannot obtain proper medical care
where you are.

• Travel assistance services and reimbursement for unexpected lodging, meals and
transportation due totravel delays.

• Coverage forlost, stolen, destroyed baggageand evendelayed baggagemeans you can be

reimbursed for unexpected losses due to missing luggage.

• Assistance, coordination, and reimbursement forreturn of minor childrenandemergency

bedside visitsif you are hospitalized.

• Optional‘cancel for any reason’lets you cancel your trip for reasons not covered under
standard trip cancellation; optional‘cancel for work reasons’lets you cancel your trip for
a number of covered work-related reasons.

• Coverage and coordination assistance for your body to bereturned home.

• Experiencedtravel assistance servicesrepresentatives to help you locate medical help,
arrange for an evacuation, deliver pre-trip planning assistance and much more.

 Some package plans also provide coverage for:

• Adventure activities
• Sports equipment
• Pre-existing medical conditions
• Rental car collision coverage
• Roadside assistance
• Identity theft assistance
• Business services
• Concierge services
• Passport and credit card services
• Pet care

 Travelers like these should purchase travel insurance package plan:-

• Families or couples taking an expensive cruise. You may have waited and saved a long
time for this trip, so it’s important to protect your financial investment. If the trip costs

34
 more than you can afford to lose, you should purchase adequate travel insurance
coverage.

• Sports enthusiasts traveling to a once-in-a-lifetime event. The cancellation coverage will

cover all your nonrefundable trip costs – even the tickets to the event if you have to
cancel or abort your trip.

• Newlyweds on their honeymoon. The last thing you want to come home with you from
your honeymoon is a fat medical bill. Be sure you have the coverage for medical
accidents and illnesses just in case.
• Adventurers planning to scale mountains, hang-glide off peaks, ski unknown terrain and
more. Because these activities are typically excluded from travel insurance plans, it’s
important to purchase a package plan customized for adventure travel or add the optional
adventure coverage to ensure you will be safe if you are injured on your trip.

• Families on a budget. If you are already counting pennies (and even if you’re not!), you
don’t need to lose all your nonrefundable trip costs back or have to pull out every credit
card or call for emergency cash to pay a big emergency room bill while on vacation.

 The cost of a package plan ranges depending on whether it’s a budget plan, a standard plan, or a
premium plan and the options that are added. A general rule of thumb is that a package plan will
cost between 5 and 7% of the total trip cost depending on the plan. The following factors affect the
cost of a package plan:
• The number of travelersThe age of each traveler
• The type of trip
• The total trip costs
• The destination
• The optional coverage
• Travelers must take many factors into account when deciding which package plan to
choose, but remember that you get what you pay for. Many travelers have purchased a
cheap travel insurance plan only to find out later it doesn’t have coverage for their
particular situation when they make a claim.

35
 2. TRAVEL ACCIDENT INSURANCE / FLIGHT TRAVEL
INSURANCE:-

Travel accident insurance, or flight travel insurance, is extra term life and disability protection to
cover a sudden and unexpected loss that occurs as a result of a travel accident or flight accident on a
covered trip. Travel accident insurance plans – also called flight travel insurance plans – focus on
term life and accidental death & dismemberment benefits for the insured and their families.
Travel accident insurance focuses on accidental death & dismemberment (AD & D) and term life
insurance benefits that apply while the insured is traveling on an insured trip or during their annual
coverage period. Some travel accident plans have flexible benefit options and let you choose the
amount.
 Flight accident
 24-hour AD&D
 Emergency travel assistance services

 Some travel accident plans include a few package-like benefits and extra options including:-
Baggage loss and delay
• Pre-existing medical conditions
• Security evacuations
• Coverage for war and terrorist acts

 The following coverage is typically found in a flight accident insurance plan:-

• AD&Dbenefits if you are seriously injured on a covered trip and cannot work.
• Term life benefits to your beneficiary if you die in a travel-related accident on a covered trip.
• Flight accidentbenefits to your beneficiary if you die in an air flight accident.
• Emergency medical evacuationbenefits if you are injured and need to obtain medical care
back home.

• Repatriationbenefits to return your body home if you are killed or die on a covered trip.
• Some plans include coverage formedical and dental emergenciesas well.

36
 Travelers like these should purchase flight accident insurance:-
• Travelers concerned with having enough life insurance. Travelers who are perhaps between
jobs or facing travel to risky parts of the globe may want a little extra accidental death &
dismemberment and/or term life benefits.

• Frequent travelers concerned about flight accidents. Travelers who put in a lot of miles on
the road may want to be sure their family is protected in the event of an accident.

• Overseastravelers who want to be sure their body is recovered. Travelers who die on their
trip and want their body recovered and repatriated at no additional cost to their families will
find this type of coverage helpful.

 The following factors affect the price of a travel accident plan:-

• The age of the travelers
• The length of the trip
• Optional coverage’s
• A single-trip travel accident plan will cost between $22 and $45 depending on the length of
the trip and the traveler’s age. An annual plan will typically cost in the neighborhood of
$220.

3.ANNUAL TRAVEL INSURANCE:-

Like apackage plan, a worldwide annual travel insurance plan delivers comprehensive protection for
all the trips you take ‒ all year long. Some annual trip insurance plans are renewable. Many
travelers like the convenience and economy of a worldwide annual trip insurance plan, which is
similar to a package plan but covers the traveler for a full year. It provides same worldwide
coverage for 12 full months. The reason many travelers like an annual trip insurance plan is the
convenience of having the same coverage for all their travel plans all year long. Most plans have a
long per-trip length requirement (usually 70-90 days). Annual plans are relatively cost-effective
because the coverage for cancellation is low or not included (some plans offer optional trip
cancellation coverage on a per-trip basis for an extra fee). Age is taken into account, but most
annual plans run a couple hundred dollars per year, per traveler. The amount of trip cancellation and
interruption coverage needed is determined by the total pre-paid nonrefundable travel costs at risk
for a particular trip. With an annual plan, however, each trip during the year will have a different
trip cost and the traveler won’t likely know all those costs when they purchase their annual plan.

37
This is why trip cancellation and interruption coverage is very limited in annual plans and may only
be available for a flat trip cost amount (such as $1,000) and it may only apply to a single trip during
the annual coverage period.

 The following coverage is typically found in an annual trip insurance plan:-

• Coverage foremergency medical and dental care, including hospital visits, surgery,
prescription drugs, doctor and dentist office visits, and more.

• Emergency medical transportationso you can receive medical care for your illness or injury.
• Reimbursement forunexpected lodging, meals, and transportation costs if your travel is
delayeda certain number of hours (usually 6-12).

• Reimbursement forlost, stolen, or destroyed baggage and personaleffects(up to the policy

limit) whether they are lost or destroyed by the airline, a taxi driver, a hotel employee, or
anyone else.

• Reimbursement (up to the policy limit) for personal essentials if your delayed certain number
of hours (usually between 12 and 24).

• The comfort of knowingyour dependent children will be flown home(with a chaperone, if

necessary) if you are hospitalized an unable to care for them. Arrangements must be made
through the insurance provider’s travel assistance services.

• Abedside visit benefitif you are hospitalized or in critical condition on your trip.
Arrangements must be made through the insurance provider’s travel assistance services.

• Someflight accident insurance as a term life benefitto your beneficiaries if you are killed in a
flight accident on one of your trips.
• The convenience of24/7 travel assistance servicesfor help with medical emergencies, travel
emergencies, business emergencies, pre-trip planning, and more.

• And some annual plans include:

• Car rental collision coverage
• Trip cancellation coverage
• Trip interruptioncoverage
• Pre-existing medical condition coverage

38
 Travelers like these should purchase annual travel insurance:-
• Frequent travelers, such as business owners and academics. When much of your time is
consumed by traveling for your work or study, it’s difficult to research travel insurance for
each trip and much more economical to have one plan with consistent coverage you
understand all year long.

• Active, healthy, traveling retirees. You may have waited all your life for your retirement and
want to put as many trips on the schedule as possible. Of course, you want the safety of
travel insurance on each of those trips too.

• Journalists and writers frequently sent on last-minute assignments. When you have to travel
often at the last minute, there’s no time to understand, purchase, and review a single-trip
policy. Plus, it’s useful to have the same coverage all year round so you know what to expect
without having to sign up for new coverage every time.

 Most full-featured annual multi-trip insurance plans will cost a traveler around $200, depending on
these factors:-
• The estimated number of trips
• The estimated number of days for the longest trip of the year
• The traveler’s age
• The options chosen with the plan

4.SINGLE TRIP TRAVEL INSURANCE:-

This plan is for single trips. If you are an occasional traveler, Travel insurance is very essential and
single trip Insurance comes handy. Single trip insurance can be purchased from a few days up to
360 days. Most companies offer the single trip up to 180 days. However there are a couple of plans
which can be purchased directly for 360 days.
Single trip travel insurance insures you against loss or accident for a single holiday or business trip
abroad. If you are only expecting to have one vacation or business trip within the year an annual
policy may not be appropriate so single trip coverage is a better option.

Also where risks are higher, for example for the over 65s, many travel insurance companies may be
reluctant to provide cover for an entire year. Single Trip Travel Insurance, covers you for any
medical emergencies and a range of other potential problems during your trip abroad and ceases

39
 when you return home. Not only does it cover you against the financial impact of an unexpected
cancellation and problems such as illness or an accident whilst you're away, but arranging single trip
insurance needn't take long a few minutes online. Plus usually it is more affordable if you don't
travel very often.

This type of travel insurance provides an excellent level of insurance cover which is suitable for any
typical holiday abroad.

 Features usually included are:-

• Coverage for a specified destination or group of destinations.
• Ideal for typical vacations abroad (the typical family trip)
• Coverage can be tailored to include or exclude specific additional requirements such as Ski
Cover, Medical Exclusions etc.
• Single trip travel insurance you will find generally covers Trip Delays, Flight cancellation,
Injuries/Illness, Accidents, Lost/Stolen baggage, passports.
• Single Trip Travel Insurance can be flexible to your needs so if you want your insurance to
be ideal for you, it is important that you tell your insurance provider if you have any existing
medical conditions.
• Make sure you detail out all those that is likely to influence the insurer in making their
assessment or providing you with travel insurance. The consequences of not giving the
correct information could mean you would not be covered should an incident occur which
work out very expensive or even could mean you put your life at risk.

5. MULTI TRIP TRAVEL INSURANCE:-

is issued for 365 days and maximum days covered per policy year are180 days You can choose
30, 45, 60 or 90 days as the maximum duration pertrip.

Policy Maximum Multi trip travel insurance allows the insured to travel multiple times
during the coverage period. There are different travel insurance products specially designed to meet
the requirements of those who travel multiple times in a year. This plan is quite popular with
business people. There is usually a limit of 30, 45 or 60 days as being the maximum number of days
outside India in a single trip under the Multi trip plans. Eligibility:-

40
 For all ages between 18 years – 70 years. However, some companies offerannual multi trip
insurance for age as low as 6 months too. For age above 70years, insurance may be obtained by
special approval and at the solediscretion of the insurance company, on case to case basis.

 Policy Duration:-
 Policy (Coverage Amount):-
Various coverage options are offered in the range of US $ 10, 0000 to US $500,000.

 Max Trip per Policy:-

Multiple trips per policy period are covered. There is a restriction ofmaximum days (Mostly 180
Days) covered during the year.

 Pre-existing diseases:-
Pre-existing ailments and maternity are generally excluded. There are fewcompanies which
provide coverage in case of life-threatening situations i.e.until the insured's heath is stable.

 Deductible/Policy Excess:-
There is a Deductible/Policy Excess of 50-100 US$ depending upon theplans. This implies that
for any claim the first $50-100 are to be borne by theinsured

 Additional Coverage:-
Coverage’s include Dental Treatment, Medical Evacuation, Repatriation,Baggage Loss/Delay,
Trip Cancellation and Interruption etc. EmergencyCash Advance may be covered in some plans.

 Medical Check-up:-
Medical check-up may be required depending upon the age of the Individual.Medical check-up
are generally required for 60 plus individual. There areplans offered by some companies with no
medical check-ups up to 70 yearswith some limit on per illness or injury.

 Renewal:-
The policy can be renewed after completion of one year.

41
  Premium:-
Plan Premium is based upon your destination, Coverage Amount, Age andmax days per trip.

 Exclusions:-
General Physical Checkup, pre-existing conditions, Vision (Eye Test, EyeGlasses, and Contact
Lens), Pregnancy and Prenatal Care is not covered byany of the Plan. Besides these, there could
be other exclusions which arementioned in the policy wordings.

 Claim:-
In order to make a claim; you need to contact the Insurer or Third PartyAdministrator (TPA) of
the Insurance Company, which has tie-ups withnetwork hospitals worldwide.
6. ASIA TRAVEL INSURANCE:-

It is common among Indians to travel frequently within Asia. Indians visit Asian countries like
Malaysia, Hong Kong, Indonesia, Maldives, Singapore, Nepal, Sri Lanka etc. for several reasons.
While travelling within Asia you require travel insurance but most of the people tend to ignore this
fact. There are several insurance companies to offer you Asia travel insurance. You can choose
affordable Asia travel plan of your choice and stay secure.
Indians frequently travel within Asia be it for vacation or for business, popular destinations include
Dubai, Thailand, Malaysia, Hong Kong, Indonesia, Maldives, Singapore, Sri Lanka, Nepal etc.
Quite often travelers from India to these Asian countries tend to ignore travel insurance. Travel
insurance within Asia is however very affordable when compared to other overseas travel insurance
plans to the rest of the world.

Asia travel insurance plan covers the insured for medical expenses, passport loss, accidents,
repatriation, and more. Asia travel insurance can be purchased for Single trip and Multi trip
respectively based on individual requirements. It is prudent to purchase Asian travel insurance given
its low cost when compared to the coverage it provides. Make sure that you are secure with Asia
travel insurance whether you are walking through the colorful streets of Bangkok or relaxing in the
exotic islands of Maldives.

Single Trip Insurance is essential for occasional travelers. A single trip that lasts for a maximum
period of six months is covered under this plan. Single Trip insurance policy is exclusively designed
to suit the requirements of individuals, family and businessmen respectively. Emergencies are
always unanticipated while travelling overseas. Single Trip insurance covers you for Medical
42
expenses, Emergency evacuation/repatriation, Accidental death, injury or disablement benefit, Trip
cancellation, Delayed departure, Delayed baggage etc.
7.DOMESTIC TRAVEL INSURANCE PLANS:-

Domestic insurance policies cover travelers within India. These plans can be purchased either for a
single trip, or for the entire year. Your domestic Travel insurance becomes ineffective once you are
out of home country.

Travel is a necessity these days whether be it for business or for simply taking a break from your
daily life and rejuvenating yourself or spending some quality time with your family. Travel comes
with own risks - an accident or theft, both could leave you or your family in a troublesome situation
during travel. ShadesYare insurance plan takes care of all your needs during domestic travel. The
policy comes with 4 different plans, customized to suit the various needs of a domestic traveler.

India is country which has great variety of historical and geographical travel destinations. You can
enjoy your holidays by visiting fabulous places like Goa, Kashmir, and Kerala etc. Visiting all these
places comes with element of risk.
That’s why buying domestic travel insurance is very important. In India places like north India
cause problems in winter where place like Mumbai, Kerala are vulnerable in monsoon. Domestic
travel insurance will prepared you against the risk connected with trip. Domestic travel insurance
which will cover your trip anywhere within India.

A person on his vacation with his family waiting at Delhi airport to catch the flight. But all flights
has been cancelled and delayed for 24 hours because of foggy weather condition. Now he is worried
about his rest of travel plans which are in danger. He also has to payout one day extra charges for
his hotel rent and expenses connected therewith. Travel insurance in these circumstances would
have been more than useful.

It covers:-

• Provides information about medical services & hospitals of required cities.

• Round the clock medical advice on telephone anywhere in India.
• Reimbursement of medical expenses.
• Daily hospitalization allowances.
• Loss/ Delay of Baggage.

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 • Delay or Cancellation of Trip.
• Personal Accident cover.
• Personal Liability.
Domestic Travel Insurance is as important as overseas; having a Domestic Travel Insurance will
make you prepare for such eventualities and will provide you much needed peace of mind.

8.SENIOR CITIZEN TRAVEL INSURANCE PLANS:-

This special travel insurance plan is designed to suit the requirements of travelers above the age of
seventy. As you grow old the chances of health risks will be higher compared to your younger days.
It is important that you have travel insurance when you travel outside India as the cost of healthcare
is very high and you do not want to be forced to visit a foreign hospital without insurance.
If you have over 65, retired and look for a travel package, do not neglect your insurance cover. It is
imperative to get insured when you travel so that if you happen to get sick because of illness, you do
not have to bear huge medical expenses in a foreign country. Enjoy your holiday. Keep an eye on
your options under the Senior Citizen Travel Insurance coverage.
Unfortunately, many travel insurance companies do not accept Senior Citizen (over 65 years old)
Insurance application. Unexpected demands tend to be more inherent for vacations time of gray hair
elderly, therefore, it is normal for people over 65 years old to select Senior Citizen Travel Insurance.
Trip insurance is carefully planned to complement the needs of individuals in the older age groups.
Policies are tailored for people of various senior ages, including Single Trip Travel Insurance, etc.

Senior Citizen Travel Insurance covers lost baggage costs, a delay, etc. Grandmothers and
grandfathers can get complete peace when traveling. Senior Travel Insurance offers 24 hour support
when the group is the elderly across the country. Get ready for a delay, or theft of property is
generally much higher on every traveler’s lists, but with specialist cover for an elder, it will give a
realistic basis to enjoy your holiday. With grandparents travel insurance, no place too far.

9.SPORTS TRAVEL INSURANCE:-

This Insurance policy satisfies the demands and needs of a person who wishes to be covered for
Travel and Sports activities whilst travelling away from their home and also whilst participating in
sports activities listed in the sports group that they have chosen and lower numbered groups.

44
 • The actual validity dates are shown on the Insurance Schedule. Annual multi trip policies are
valid for one full year (subject to a 90 day limit per trip) and Single Trip / Extended stay
policies are valid for specific dates purchased. You may need to review and update your
cover periodically to ensure it remains adequate. The insurance is effective from the date
processed (unless otherwise requested).
• It is only available to persons resident in the United Kingdom, Ireland or an official BFPO
address
• It only covers amateur activities – professional (earning over £4000 pa); are excluded.
• Annual multi trip polices are valid for one year and allow any number of trips per year
subject to a 90 day limit on each trip.
• There is exclusion for losses arising from war or terrorist activities
• The insurance contains important conditions that relate to your health and existing medical
conditions. In particular you must declare pre-existing medical problems and details of all
medical claims made in the past 3 years.
• There are specific sports conditions applicable to certain sports such as diving, winter sports
and mountaineering.
• There are limits to the amount the insurer will pay in all sections of the policy.
• The insurance does not provide cover on a ‘new for old’ basis. This means that claims will
be paid on the basis of the value of your property at the time of loss.
• Top-Up cover means insurance for activities that take place for a selected period during
journey. Top-Up cover is valid only whilst participating in activities during a journey which
is covered by an equivalent insurance which excludes the activities for which the Top-Up
cover is taken out.

10.CORPORATE TRAVEL INSURANCE:-

With globalization hitting the Indian subcontinent, international boundaries are diminishing. In
morning, you could be attending a conference in Las Vegas and you could be discussing business
over a cup of tea in London. Your company could therefore, expect you to travel to any place in the
world for business.
Whether you travel just once a year or clock up hundreds of hours on the road, it is best to check if
your organization covers you against travel and non-travel contingencies through business travel

45
insurance. Business or Corporate Travel Insurance is designed in a way to cover employees against
emergency expenses incurred when they are on business trip.

Expenses for medical treatment, emergency evacuation, flight cancellations or lost luggage are just a
few of the common costs that companies might face when their employees are on business trips.
World events resulting from political and social unrest have further increased the risk of business
traveling. So it is advisable for organizations with overseas travel commitments to ensure their
corporate travel insurance is appropriate and fits their needs.

Corporate Travel Insurance Plans provide comprehensive travel insurance for the employees against
almost any mishap that could occur when traveling. The benefits offered include:

• Oversee medical emergency expenses

• Accidental death
• Disability and loss of income
• Expenses linked to loss of luggage and travel documents Trip delay and cancellation
expenses.

11. OVERSEAS TRAVEL INSURANCE:-

You’ve been saving for that once in a life time trip around the world. Or maybe your business will
take you to the farthest corners of the world. International travel is an exciting adventure but also
poses many unpredictable situations. World events resulting from political and social unrest have
further increased the risk of international travel. As you prepare to go you also need to ensure that
you have protection in case anything should happen while you’re away. An overseas travel
insurance plan will make sure that you are not caught unprepared.

So before your next trip abroad it is advisable to have international travel insurance. Spend just as
much time, if not more, making sure you are protected by a foreign travel plan, as you do planning
where you are going to eat dinner or what sights you are going to see.

Overseas travel insurance plan aims to make your foreign travel safe and hassle free by guarding
you against all travel and non-travel inconveniences, emergency medical costs incurred in the event
of any unforeseen event. Highlights of Overseas Travel Insurance:

46
 • Pre-trip information service provides you important up-to-date travel and health information.
• 24/7 access to medical advice on telephone from anywhere in the world.

• Referral of medical service providers and hospitals.

• Reimbursement of medical expenses incurred during hospitalization (where ever possible).

• Arrangement of compassionate visit / emergency evacuation / repatriation/ repatriation of
mortal remains.
• Lost luggage / passport assistance.

• Embassy / interpreter referral services.

• Segment specific plans with special plans for Asia region (excluding Japan).
• No medical tests required up to 70 years of age.
12. BACKPACKER TRAVEL INSURANCE:-
Usually, Backpackers travel over a spending budget. But just such as the typical traveler, they’re at a
chance of injuries or accidents when abroad. Whether or not they’re scuba diving in Cairns or
trekking the slopes of Thailand, a traveler must havebackpackerstravelinsurance.

They travel overnight or sleep in dorm rooms or hostels and they’re prone to sickness. A practical
traveler assures that he is in excellent hands by purchasing backpackers travel insurance. He gets 1
before he leaves. To meet the needs of a traveler, Backpackers travel insurance was especially
developed to satisfy every single traveler.

These plans offer higher levels of coverage for lengthy periods of travel. From one week to too
manyyears, a traveler can avail the backpackers travel insurance. A single should also remember
that just since it’s referred to as backpackers travel insurance; it does not mean that they will be
roughing it.

Backpackers travel insurance serves being a less expensive and efficient alternative to single trip
journey insurance plans. Actually, some plans cover extras like sports and ski protection.

A single won’t know what may perhaps occur while in travel so this might arrive in handy. You will
discover standards when looking for backpacker’s vacation insurance policy which the traveler
ought to appear.

Right here are some functions that ought to be included within the backpackers travel insurance. It
must possess the Emergency Medical Include.

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This covers the cost of any event that requirements urgent healthcare interest. It ought to also have
Rescue and Repatriation.
This is the insurance policies that the expenses are going to be paid through the insurance policies
provider. The package contains rescue that consists of helicopter rescue too. Other features are
Personal Liability.

This means that the insurance provider is legally responsible to cover any injury, accident, or harm
that may be inflicted on the traveler. Then there’s Holiday Cancellation.

This is the have to make the trip brief, just in circumstance something comes up. For that quantity
that was lost, the person is going to be compensated.

The Baggage and Possessions Include is also incorporated. The insurance policies provider will
cover the administrative charges that have been incurred in circumstance the possessions with the
traveler happen to be lost or stolen.
This involves having to pay for replacing the passport that may be stolen.

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CHAPTER.8.TWO COMPANY’S WHICH PROVIDES
VARIOUSINSURANCE COVER:-

 ICICI LOMBARD
 RELIANCE GENERAL INSURANCE

 ICICI LOMBARD:-
1.SINGLE ROUND TRIP / OVERSEAS TRIP:-

A comprehensive Travel Insurance policy that covers unexpected medical and non-medical
expenses when you are travelling abroad. Avail of benefits like Baggage loss/delay and unique
facilities such as Cashless hospitalization, worldwide.

Our Travel Insurance plans are the most preferred among others because we cover Pre-Existing
diseases in life-threatening emergency situations.

Experience quality health care while in USA with UHI (UnitedHealth

International).

 Key Benefits:-

• Cashless hospitalization facility available worldwide

• Avail of quality health care through our tie up with UnitedHealth International (UHI Isa
leading US based health care provider)
• No medical check-up required
• The insurance also covers medical evacuation costs back to India.
• Pre-existing diseases are covered under life-threatening situations
• Coverage available up to 360 days (Original policy for 180 days and extension for
additional 180 days)
• Pay Per day: Slab rate for first 7 days only, then pay on a per day basis
• Extend the policy online in case you extend the trip, pay only for number of day extended.

49
 • This policy also covers you for hospitalization in case of Swine Flu / H1N1 influenza, if it
is not a pre-existing disease.

 View details of policy Coverage:-

Coverage Details Coverage Platinum Gold Plan

Amount Plan Age 1 to 70 years
Age 1 to
70 years

1) Medical Cover US$ 50,000,

US$
100,000,
US$ 250,000

2) Cashless hospitalization L
worldwide

3) Daily allowance for US$ 25 (for

hospitalization$ 5 days)

4) Dental Treatment US$ 250

5) Passport Loss US$ 200

6) Checked-in Baggage US$ 500

Loss

7) Checked-in Baggage US$ 100

Delay+

50
8) Personal Accident US$ 15,000

9) Personal Liability US$ 100,000

10) Financial Emergency US$ 300

Assistance

11) Hijack Distress US$ 125 per

day
Allowance (7 days max)

12) Trip Cancellation & US$ 500

Interruption

13) Missed Connectionˆ US$ 500

14) Trip Delay ++ US$ 500

15) Home Insurance#

- Building
2,000,000
- Content
500,000
16) Repatriation of US$ 7,000
Remains

17) 180 days Policy L

extendable up to 360 days

Scenario 1 : Premium for an Insured for 2,455 1,714

individual, aged 35 years,
US$ 100,000
traveling to USA for 30 days

51
Scenario 2 : Premium for an Insured for 3,981 2,690

individual aged 65 years, US$ 100,000

traveling to Europe for 30 days

2.FREQUENT FLIER (MULTI-TRIP) / ANNUAL MULTI TRIP:-

A comprehensive Travel Insurance policy that covers unexpected medical and non-medical
expenses when you are travelling abroad. Avail of benefits like Baggage loss/delay and unique
facilities such as Cashless hospitalization, worldwide.

The Multi-Trip Plan is specially designed for the frequent international traveler. The policy is valid
for 1 year and you can choose between 2 options of 30 or 45 days as the maximum duration per trip.

Our Travel Insurance plans are the most preferred among others because we cover Pre-Existing
diseases in life-threatening emergency situations.

Experience quality health care while in USA with UHI (UnitedHealth

International).
 Key Benefits:-
• Cashless hospitalization facility available worldwide
• Pay an annual one-time premium without any extension hassles
• Secure as many trips (30 or 45 days per trip) throughout the year
• Covers Checked-in Baggage Loss, Trip Delay, Passport Loss, Financial Emergency
• The insurance also covers medical evacuation costs back to India
• No medical check-up required
• Avail quality health care with leading US based UnitedHealth International
• Pre-existing diseases are covered under life-threatening situations Buy Online and pay
in installments without any extra charges

 It cover’s:-
• Medical Cover - US$ 100,000, US$ 250,000 and US$ 500,000
52
 • For medical costs due to illnesses or accidents and medical evacuation back to India.
• Financial Emergency Assistance - US$ 300
• Emergency cash made available in case your travel funds are robbed.
• Passport Loss - US$ 200
• For expenses incurred in obtaining a fresh or new passport.

3.SALT & PEPPER (71-85) / SENIOR CITIZEN PLAN:-

A comprehensive Travel Insurance policy for Senior Citizens that covers unexpected medical and
non-medical expenses when travelling abroad including hijack distress allowance. Avail of benefits
like Checked-in Baggage Loss/Delay and unique facilities such as Cashless hospitalization,
worldwide.
This plan is for senior citizens between 71 to 85 years.
Our Travel Insurance plans are the most preferred among others because we cover Pre-Existing
diseases in life-threatening emergency situations. Experience quality health care while in USA with
UHI (UnitedHealth International). Now avail Senior Citizen Plan instantly with no medical
checkup.

 Key Benefits:-
• Cashless hospitalization facility available worldwide
• Pay Per day: Avail of plans with slab rates for the first 7 days only, and then pay on a per day
basis.
• Covers Checked-in Baggage Loss/Delay, Passport Loss,
Financial Emergency

• Lightning Fast Claims - Settled within 7 days of receipt of required documents.

• Avail quality health care with leading US based UnitedHealth
International

• Pre-existing diseases are covered under life-threatening situations Coverage available up to

a maximum of 180 days.
• Buy Online and pay in installments without any extra charges

53
 It covered:-
• Medical Cover - 71 to 75 years - US$ 50,000 & 76 to 85 years - US$ 25,000
• This covers medical cost due to illnesses or accidents, including outpatient & inpatient
medical expenses, medical aid, therapies and diagnostic test. It also covers medical
evacuation costs back to India. There are 2 plans available depending on the age of the
insured. If the insured is 71 to 75 years of age, the sum insured is USD 50,000. However, if
the insured is between 76 to 85 years of age, the sum insured is USD 25,000.
• Financial Emergency Assistance – US$ 300
• Emergency cash made available in case your travel funds are robbed.
• Passport Loss – US$ 200
• For expenses incurred in obtaining a fresh or new passport.
RELIANCE GENERAL INSURANCE:-

1.RELIANCE TRAVEL CARE – ANNUAL MULTI-TRIP POLICY FEATURES

If you are a frequent flyer, then getting insurance for every overseas journey that you make can get
tedious. Reliance Travel Care – Annual Multi-trip Policy is specially designed for frequent
international travelers that provide comprehensive travel insurance for your trips across the year.

Coverage Elite ( In Plus ( In Standard ( In

US $) US $) Us $)

Medical Expenses Including 500,000 250,000 100,000

Transportation & Evacuation

Dental Care Expenses 500 500 500

Loss of Passport 300 300 300

Total Loss of Checked baggage 1,500 1,000 500

 Key Highlights:-
54
 • Travel insurance specially designed for individuals who frequently travel abroad
• Instant Policy Issuance through online and on call (1800 3002 8282)
• Comes with one year validity
• Comprehensive and Custom Made coverage through various unique benefits like
Compassionate Visit, Home Burglary Insurance, Financial Emergency Assistance etc.
• Facilities like cashless hospitalization, cover for expenses due to loss of passport, loss of
checked-in baggage, delayed and cancelled trips
Wide Choice fromElite, PlusandStandardplan variants

• Speedy and Hassle free claim settlement

 Key Advantages:-
• Reliance Travel Care Policy- Multi Trip gives you protection to meet your unique needs with
comprehensive coverage for your medical and non-medical expenses during your trips
• Offers choice fromElite, PlusandStandardplan variants
• We give you the maximum coverage with minimal paperwork.
• In case your trip gets extended, we cover wide durations up to 182 days, which is extendable
up to 365 days.
• We provide automated extensions of policy in case certain eventualities.
• 24 Hour Emergency Cashless Services offered through Emergency Assistance Service
Provider.

2.TRAVEL CARE- SENIOR CITIZENS INSURANCE FEATURES:-

Medical costs abroad are really high. Hence it is important that our senior citizens must avail travel
insurance to protect themselves from unexpected illness or accidents. Reliance Travel Care Policy –
Senior Citizens gives you comprehensive travel insurance by providing you cover for medical and
non-medical expenses that may arise during your trip abroad.

55
 TRAEL INSURANCE

Coverage Reliance Age Reliance Age

Standard Platinum
( In Us $) ( In Us $)

Medical Expenses Including 50,000 500,000

Transportation & Evacuation

Dental Care Expenses 500 500

Loss of Passport 300 300

Total Loss of Checked baggage 500 1500

 Key Highlights:-
• Specially designed for senior citizens in the age group 61-70 years
• Instant Policy Issuance through online and on call (1800 3002 8282)
• Comprehensive and Custom Made coverage for medical expenses that includes
dental treatment with the facility of cashless hospitalization
• Covers you for the loss of passport, loss of checked-in baggage, delayed and
cancelled trips
• No medical checkup needed
• Special Conditions (limit of liability) in case of any one illness and/ or any one
accident.
• Wide choice fromStandard, Silver, GoldandPlatinumplan variants
• Speedy and Hassle free claim settlement

 Key Advantages:-
• Reliance Travel Care Policy- Senior Citizens gives you protection to meet your
unique needs.
• Offers choice fromStandard, Silver, GoldandPlatinumplan variants.

56
 • We give you the maximum coverage with minimal paperwork.
• Planning a long trip? We cover wide durations up to 182 days, which is extendable
up to 365 days.
• Automated extensions of Policy in case of medical emergency and evacuation (up to
30 days) and delay of common carrier (up to 7 days) beyond Policy expiry
24 Hour Emergency Cashless Services offered through Emergency Assistance
Service Provider.

3.RELIANCE STUDENT TRAVEL INSURANCE FEATURES:-

We value your dreams and aspirations and we will be glad to assist you in realizing them.
The Reliance Travel care Insurance policy is specially designed to provide you
comprehensive student travel insurance meeting the norms of your university. This policy
provides overseas student health insurance and covers other non-medical expenses as well, so
that you have a stress free student life abroad.

Coverage Reliance Basic Reliance Platinum (

(In US $) In US $)

Medical Expenses including 50,000

transportation and evacuation

Personal Accident 25000 25000

Loss of Passport 100 200

Total Loss of Checked Baggage 1000 1000

Bail Bond 1000 5000

Study Interruption 10000 10000

57
 TRAEL INSURANCE

 Key Highlights:-
• Instant Policy Issuance through online and on call (1800 3002 8282)

Custom made Plans (Platinum, Gold, Silver, StandardandBasic) available for students to
choose from depending on his/her and the university’s requirements
• Affordable cost compared to taking health insurance overseas
• Comprehensive coverage through various unique benefits like Bail Bond,
Study Interruption, Sponsor Protection etc.

• Coverage of pre-existing ailments – in case of life threatening situations

• Two way compassionate visit benefit to ensure that you are by the side of your loved
ones in times of an emergency
• A special Basic Plan offering only non-medical benefits
• Policy tenure can coincide with the course duration up to 2 years
• No medical checkup needed
• Maximum coverage with minimal paperwork
• Speedy and Hassle free claim settlement

 Key Advantages:-
• Reliance Travel Care gives you protection to meet the requirements of the
University of your Choice. Students travelling to followingInternational
Universitieshave been insured by Reliance General Insurance.
• Policy tenure can coincide with the course duration up to 2 years.
• Automated extensions of policy in case certain eventualities
• We have five different plans to choose from –Basic, Standard, Silver,
GoldandPlatinum
• No Medical check-ups
• Policy tenure can coincide with the course duration up to 2 years
• Automated extensions of Policy in case of medical emergency and evacuation (up
to 30 days) and delay of common carrier (up to 7 days) beyond Policy expiry
24 Hour Emergency Cashless Services offered through Emergency Assistance
Service Provider

58
 TRAVEL INSURANCE

CHAPTER.9.

IMPORTANT STEPS TO TAKE, AFTER YOURPURCHASE

OF TRAVEWL INSURANCE POLICY:-

1. Print your confirmation email:-

You will receive an email confirmation after your purchase your travel insurance plan. This is
your confirmation of coverage, and will include general information about your plan
including the policy number and effective dates.
Most importantly, it includes emergency contact numbers so you can contact the insurance
company with any issues during your trip. You can print it out and carry it with you, and it is
a good idea to carry an extra copy in a different bag.
Furthermore, you can keep a copy in the ‘cloud’ on your email server or Google Docs so you
can access it from anywhere in the world.

2. Review your policy certificate to verify the coverage:-

Every travel insurance company provides a Free Look period, which is a set number of days
after purchase where you can review your plan and return it for a full refund if you are not
satisfied. This is your chance to read the policy certificate and make sure you fully
understand the coverage in the plan.

3. Read the Exclusions section:-

This is another part of using your Free Look period wisely. The policy certificate will have a
section of Exclusions that lists cases in which coverage is not provided.

4. Contact your insurance company immediately if you have any claims

questions:-

59
 

This one is very important. If you have any situations where you think you will have a claim,
contact the insurance company immediately. Think you need to Cancel? Call the company.
Call the company. Get sick abroad and need a doctor? Call the company. The company will
be able to advise you on your situation, answer coverage questions, and arrange support if
necessary. 24/7 phone support is one of the best coverage’s provided with travel
insurance…you should use it.

60
 CHAPTER.10.

Cancel? Call the company. Call the company. Get sick abroad and need a doctor? Call the
company. The company will be able to advise you on your situation, answer coverage
questions, and arrange support if necessary. 24/7 phone support is one of the best coverage’s
provided with travel insurance…you should use it.

CASE STUDY :-

Roy Padgett 12 march 2010

Roy padgett aged 64 and his wifw were much looking forward to their first
ever cruise.they travel fairely regularly and decided to renew their annual
travel insurance policy.sadly this time the process wants straigth forward
both in their 60s roy and his wife are well but like most people their age have
a number of preexisting medical condition,all minor or resolved complaints.

Roy fried more than eight travel insurance companies and found the process
frustrating to say tne least. He want their lengthy and intrusive medical
questionnaries, both online and over the phone only to find out that, because
of their pre existing medical condition most insurance companies would not
provied Comprehensive medical cover.

The one company could that provied cover that has Comprehencive cover
was prohibitively expensive quoting more than 450

Thankfull friend mention world first travel insurance to, roy a company he
and his partner had use fore year .

What a constrct roy could first called found their staff to be

clear,helpful,sympathetic and professional medical screening was
straigthforward and common sence.the eventual premier seemed more than
reasonable a straigging less than quoties

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REFERENCE:-
1. www.askme.com

2. www. icicilombard.com

3. www.reliance general insurance.com

4. www.google.com

62
CONCLUSION

Today,banks focus on desiging programs and process and service

toattract, develop and top talent

Utilise latest technologies insurance laucched sophisticated online

system that provied the employe with details
benefits,compansarion,special,program andinternal job
apportunity.as aglobal employee population continues to grow these
cutting edge activites are increasingly important to the delive world
class insurance solution department insurance sector.

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BIBLIOGRAPHY
 https://en.wikipedia.org/wiki/insurance
 http://www.investopedia.com/term/travelinsurance.asp
 https://www.ft.com/topice/organization/travelinsurance

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