Search Suggestions
- Gold Loan
- Money Transfer
- Mutual Funds
Travel Insurance
Travel is an essential part of lifestyle these days. In today’s world, it is an integral part of us and it is something that our generation does quite often. Globetrotting is a very common phenomenon where more and more Indians are travelling abroad every year. Muthoot finance endeavours to give you all the benefits anywhere in the world, that you would otherwise enjoy in your own country, through their comprehensive Travel Insurance Plans.
But again, travelling comes with its own risks and hazards. Misfortune may strike anytime, anywhere, even when you are travelling. Hence, it is important to get yourself covered with a travel Insurance policy.
Risks Covered by Travel Insurance
Medical Expenses – There may be certain eventualities abroad that may result in a medical emergency. Travel Insurance policy would cover the medical expenses of the customer seeking insurance, up to a certain value. The travel insurance premium is directly proportionate to the value of insurance sought, higher the value, the higher the travel insurance premium. Various elements which are covered, to the extent of the policy value, under Medical expenses are as mentioned below:
- Medical Expenses – Medical expenses for any emergency treatments that might be required is often covered by the travel insurance plan.
- Dental expenses – Emergency expenses incurred for any dental procedure are also covered in our travel insurance plan.
- Medical Evacuation – Expenses incurred to evacuate the customer to the nearest medical facility will be covered by the insurance plan.
- Repatriation of Remains – In case of a death, expenses to repatriate the mortal remains to the home country would be covered.
- Death – A total compensation, as stated in the travel insurance policy, would be awarded to the nominees in case of the death of the individual.
Lost Baggage – Though not common, but in case you are ever a victim of lost baggage, you can make a lost baggage claim from the insurance company. It is pertinent to note that to file a lost baggage claim, it should be an entire piece of luggage that is lost, and the airline has confirmed that they would not be able to deliver the same back to the customer. It is always preferable to take travel insurance for your baggage, especially if you are travelling with valuable items. Baggage loss is compensated post consideration of the amount reimbursed by the airline.
Delayed Baggage – In case of delayed baggage, your travel insurance policy will provide compensation to cover essentials for the intermittent period.
Flight Cancellation – This is a pretty common occurrence these days. There might be some eventuality that may result in the airline cancelling your flight. Or one might cancel their trip themselves due to any emergency. You would be reimbursed the cost of unused hotel and flight bookings, restricted to the amount specified in the travel insurance policy.
Flight Delays – Flight delays are often and may happen to any of us. Often travel insurance policy will reimburse the cost of essentials purchased during this delay.
Refer a Friend*
Refer a friend & get a Chance to
Win Exciting Muthoot Finance Merchandise
*T&C apply
Ask an Expert
CUSTOMER SUPPORT NO.:
8590223204
WRITE TO US:
mib@muthootlife.com
VISIT OUR WEBSITE:
www.muthootinsurancebrokers.com
BRANCH TIMINGS:
Mon-Sat, 9:30 AM to 6 PM
Refer a Friend*
Refer a friend & get a Chance to
Win Exciting Muthoot Finance Merchandise
*T&C apply
Ask an Expert
CUSTOMER SUPPORT NO.:
8590223204
WRITE TO US:
mib@muthootlife.com
VISIT OUR WEBSITE:
www.muthootinsurancebrokers.com
BRANCH TIMINGS:
Mon-Sat, 9:30 AM to 6 PM
Blog
Life Transforming Stories
-
Alok Saha from Kolkata expands his Clothing Business
-
Sakina Bano from Delhi establishes her salon business
Blog
View all
How Women Can Start a Low-Investment Side Business from Home
Read more
Mediclaim Vs Health Insurance: Understanding the Differences, Benefits, and More
Read moreNPS vs. Unified Pension Scheme: What's the Difference?
As India continues to evolve in terms of financial
Read moreWhat is Cashless Health Insurance? Benefits & Process Explained
In today’s fast-paced world, where medical expense
Read moreCase Study
-
Alok Saha from Kolkata expands his Clothing Business
-
Sakina Bano from Delhi establishes her salon business
services we provide
FAQs
Travel insurance covers risks that often come along while travelling, such as losing a passport, losing personal belongings, falling ill, etc. Having travel insurance ensures that all these risks are covered with an additional layer of protection against financial loss. However, the terms and conditions and coverage may differ according to the insurance company and the package they offer.
Depending on the insurer and the coverage you choose, travel insurance can cover a wide range of risks and unfortunate events that can occur while travelling. Such as:
- Sickness or Injury
- Lost or Damaged Luggage
- Delays or Last-Minute Cancellations
- Accidental Deaths
- Loss of Passport
- Coverage Beyond Credit Cards
Usually, the coverage period is from the day you commence your journey until you return home safely. However, the duration of your travel insurance also depends on the type of policy you purchase. Such as:
- Single trip insurance – As mentioned above, a single trip insurance policy is valid for the entire duration of your trip.
- Multi-trip insurance – This type of insurance policy is meant for those who take multiple trips in a year. Some offer coverage up to 90 days, while others can extend to 180 days.
Yes, travel insurance works as it allows you to protect yourself and your loved ones by providing financial assistance in case of unexpected, unfortunate and unforeseen events that may occur while travelling. Travel insurance is ideal for globetrotters who otherwise would not have peace of mind, as misfortune may strike anytime, anywhere while travelling.
The procedure and documents required to claim travel insurance would vary depending on the policy, coverage, etc., which would be mentioned in your policy document. Mentioned below are a few points to simplify it.
- First of all, notify your insurer
- Read your policy thoroughly and
- Gather the required documents
- Submit your claim form
Yes, travel insurance is refundable as long as travellers do not depart on their trip and must cancel their policy within the free look period. A free look period, also known as a money-back guarantee by some companies, is a boon that comes along with the purchase of travel insurance. During this period, you have 10 to 14 days to review your policy and decide whether you need it or not.
Universally, there is no age limit for travel insurance. However, the age factor comes into play because some insurance companies have an upper age limit, as it is one of the major factors impacting travel insurance premiums. Because the higher the age, the higher the premium.
The Insurance Regulatory and Development Authority of India (IRDAI), which is the governing body for all insurance companies in India, has made KYC a mandatory requirement for the purchase of travel insurance in India. The KYC mandates individuals to comply with regulatory requirements, verification and fraud prevention.
Yes, travel insurance is compulsory for international travel to countries such as:
- Schengen countries
- Algeria
- Argentina
- Aruba
- Cuba
- Ecuador
- Fiji
- Georgia
- Lebanon
- Iran
- Israel
- Jamaica
- Jordan
- Moldova
- Morocco
- Nepal
- Qatar
- Romania
- Rwanda
- Seychelles
- United Arab Emirates
- Togo
- Turkey
- Antarctica
You can purchase travel insurance at any time before the commencement of your journey. However, we advise that you get your travel insurance as soon as you book your reservations. This is because you will have ample time to go through your policies in case you wish to cancel and purchase an ideal one. Moreover, the sooner you purchase, the more benefits you are eligible to avail.
It can be overwhelming while trying to decide on the type of travel insurance you want. The most common type of travel insurance that you are likely to be recommended is comprehensive travel insurance. Comprehensive travel insurance is popular because it provides the highest level of protection, which concerns every traveller. It provides coverage on trip cancellations, medical care, travel delays, etc.
- South +91 99469 01212
- North 1800 313 1212