"travel Insurance And Natural Disasters: Staying Protected While Abroad"

 "travel Insurance And Natural Disasters: Staying Protected While Abroad" - Even though 90% of people are aware of it, only 20% opt for travel insurance when they hit the road, industry sources said.

UBAI: Many natural disasters and terrorist incidents in 2015, including the Paris attacks, the earthquake in Nepal and the Ebola epidemic in West Africa have doubled the consumption of travel insurance.

"travel Insurance And Natural Disasters: Staying Protected While Abroad"

Roughly 4.5 lakh travel insurance policies worth approximately Rs 110 crore were sold in 2014. This is expected to have doubled to over 220 crore in 2015, said Yashish Dahiya, co-founder & ap; CEO, PolicyBazaar. Almost Rs 40 crore worth of policies were sold online.

Travel Safe Insurance Plan In Singapore

Despite this growth, the penetration of travel insurance is still quite low. Even though 90% of people are aware of it, only 20% opt for travel insurance when they hit the road, industry sources said.

“Travel insurance is considered an expense and a waste of one, even though it provides a wide range of benefits for travelers. To this extent, lack of awareness and guidance are reasons why people do not buy it," said Anjali Gupta, director, Y Not Travel. The Indian travel insurance tool is worth around Rs 240 crore, according to Ravi enon, vice president of Foreign Exchange , Cox and Kings.

Travel copies say that very few people buy insurance for "global calamities", but primarily for general travel insurance that meets essential needs such as medical expenses, medical evacuation, loss of luggage passport, delay of luggage. According to experts, around 60% of travel insurance policies offer 'terrorism' cover, but it can vary. For example, in cases like the Paris attack, the insurance company will step in to cover the entire medical expenses of an Indian guest. They will also pay for flight tickets back how on completion of the treatent. However, the guest will not get any compensation in case of partial, permanent disability or death as it is covered under liability where the guest has to file a claim with the government of that country to claim compensation, enon told ET.

In case of natural disasters such as floods, earthquakes or an epidemic, usually all travel insurance policies cover the insured for any financial loss incurred during such natural disasters or an edical emergency. However, it is always advisable not to travel to places where accidents are foreseen or expected, said Sanjay Datta, Chief-Underwriting and Clais at ICICI Lobard.

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"Also, in cases where such incidents of natural disasters as epidey or terrorists are reported, an emergency crisis is created to provide dedicated assistance services such as edical treatent, edical evacuation, repatriation, emergency cash advance and siilar services to such insured," he added.

After natural kalatys ore travelers start opting for travel insurance and thus benefit from the insurance companies in the edition to long term, said Dahiya of PolicyBazaar.

"In the short term, travel insurance companies will have to compensate for the claim, but it will be profitable in the ediu-ter, because prices will rise, but because the chance for such emergency services is only 1%, people will continue with travel insurance because of uncertainty," he added.

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Does Travel Insurance Cover Earthquakes?

Travel with confidence and rediscover the world and discover hidden gems in every city - because going off the beaten track is often the best way to truly fulfill your wanderlust. From untouched natural wonders to secret gastronomic spots, make the most of your travel journeys and explore hidden gems with peace of mind knowing you're protected with 's Travel Insurance.

You never know what would happen when you travel. Whether it's flight cancellations due to bad weather or injuries caused by an accident, our travel insurance can lower your costs.

24/7 Medical Emergency Hotline: You can call (65) 6338 1222 for assistance in the event of an accident or medical emergency anywhere in the world.

For existing policyholders who purchased the travel insurance before 10 April 2023 and their travel starts from 10 April 2023, please refer to our COVID-19 Travel FAQs for more information.

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You can refer to the maximum amount we will pay for each benefit section under the family cover during a single trip. Each insured person is only allowed the maximum benefit per insured person in the table of coverage.

The cover for all benefits in our travel insurance will only be effective when you are abroad, except for the following:

For Personal Accident, your cover starts when you leave the place where you normally live or work (whichever is later) to start your journey, or three hours before the start date shown on your certificate of insurance, whichever is later. Cover ends:

Yes, our travel insurance will cover you against all travel related benefits, excluding any conditions arising from any of your pre-existing medical conditions¹. If you have a pre-existing medical condition, we recommend that you take up an Enhanced PreX plan that will cover pre-existing medical conditions. For coverage on pre-existing medical conditions, please refer to the section on Enhanced PreX plans.

Can Travel Insurance Help If A Natural Disaster Affects Your Holiday?

The definition of pre-existing medical condition also applies to injuries or illness of your family member or travel companion.

Leisure activities accessible to the general public/tourists such as bungee jumping, diving, motorcycling (including pylon riding), horse riding, winter sports, water rafting are covered in our standard policy conditions.

However, dangerous or professional sports and activities are not covered in our policy terms. You can contact us on 6788 6616 if you want to check if the activity you are participating in is covered.

If my family consisting of myself, my father, my wife and my children are traveling together, can I buy under a Family cover?

Infographics: Travel Insurance Buying Guide Timeline

You might consider buying a family cover for you, your spouse and your children, and adding your father as an individual insured. This can be done by selecting a plan for your Family Cover and then adding an insured on the next page.

If my child turns 18 this year, can I still insure him as a child? How much would the premium be?

Yes, children over 30 days old, but less than 21 years old can be insured as children. You can refer to our premium table found on our website for details.

You can purchase child coverage under all plans or choose to upgrade to adult coverage under the Classic, Deluxe, Enhanced PreX Basic and Enhanced PreX Superior plans. Your child can be a policyholder if he/she is 16 years and older.

Natural Disasters & Holiday Cancellation

I will travel abroad for a year. Can I buy travel insurance policy to cover me for the duration of one year?

You can take out a travel insurance plan per trip for a maximum duration of 180 consecutive days for the Classic, Deluxe and Preferred plan, and a maximum duration of 30 days for the Enhanced PreX plan. We cannot accept coverage for more than 180 consecutive days.

No, your insurance period must cover your entire trip from the date of departure from Singapore to the date of arrival in Singapore.

Your insurance period will be automatically extended while you are abroad, without additional premium for the first 14 days if:

When To Buy Travel Insurance

Our policy covers people traveling abroad for business or pleasure. It is not intended to cover people traveling to seek medical treatment.

Yes, your travel insurance will reimburse you for the necessary and reasonable medical, surgical, hospital, dental and ambulance costs recommended or requested by a doctor for you to be treated abroad, up to the limit shown in your plan's table of coverage or up to a period of up to 45 days from the date of first treatment, whichever comes first.

Yes, we will pay for the necessary and reasonable costs of emergency treatment recommended or requested by a doctor for you to be treated abroad, up to the limit shown in the table of coverage of your plan or up to a period of up to 45 days from the date of the first treatment, whichever comes first.

Yes, our travel insurance will cover you for your expenses for specialist medical treatment provided you are referred by a GP. This is for a period of up to 45 days from the date of first treatment or up to the limits of the policy contract, whichever is earlier.

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If I visit a doctor after returning to Singapore, will my policy cover me for the medical expenses incurred?

Yes, we will pay for the necessary and reasonable medical, surgical, hospital, dental and ambulance costs for treatment and follow-ups in Singapore recommended or requested by a medical practitioner, depending on the conditions shown:

Yes, you can seek medical treatment from a Chinese medicine practitioner or chiropractor provided the practitioner is registered with the Traditional Chinese Medicine (TCM) Practitioners Board and has valid practicing certificates. Yes

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