Insure your travel – Better safe than sorry

Insurances serve as a backbone in trying times which we simply dare to miss. Earlier, insurances addressed only accidental deaths, to imply the meaning in a broader sense. However, insurance services have gradually spread in leaps and bounds to provide financial coverages in varied sectors, from accidents to various health issues and vehicles to realty sectors. Travel insurances have also gained immense popularity with better and growing economy, enabling good number of people shifting abroad for education or tourism alone.

Traveling to various places is by far the best and most enjoyable recreations but, only if we can ensure a safe and hassle-free trip. This can be smoothly achieved if, the traveller is well acquainted with the pros and cons of travel insurance. Accidents or unprecedented events cannot be predicted earlier. Also, medical services abroad are quite expensive and in cases, even unaffordable. Further in many countries, if you don’t have health insurance, a hospital reserves the right not to admit you even if you need their services critically or any medication to be prescribed. Travel, health and accident insurances cover all such expenses incurred during the period of stay abroad or for outsiders when then come and stay in India. In India, insurance services are offered by both public and private owned financial institutions which strive to be a perfect guide for newbies. They provide customers with insurance benefits and acquaint them well with the accurate knowledge about unforeseen events which might occur during the travel itinerary and the significance of travel insurance to eradicate any issues. Most insurance companies cover domestic to international travel and corporate/business to family trips, to ensure a fulfilling and satisfying journey for all. Nowadays, many people opt for insurances which not only cover accidents via accident insurances, medical issues (via health insurance), vehicle or property (includes home) insurances, but also offer specialized insurance products in fire, marine, engineering, liability and business interruption risks, specifically dedicated to commercial customers.

Health insurance forms a popular category in which most customers wish to invest. India is witnessing exceptional progress in the healthcare sector due to rapid technological advancement. Currently, there are numerous super-speciality hospitals throughout India which provide high-end cutting-edge treatment facilities for multiple medical issues. Many travellers who come to India to seek medical services often prefer to get specialized treatment from such care givers. These days, health conditions of individuals are declining rapidly due to excessive workload, stress to meet deadlines, inadequate rest due to overwork, fast-paced lifestyle and raising alterations in the environment. These factors have majorly contributed to the poor health conditions of youth owing to which, people fall victim to critical illnesses at an early age. For most individuals working in corporate sectors, back pain symptoms have become the most common issue. This is primarily the outcome of long office hours, where employees constantly sit in a cubicle and have minimum scope for movement/physical exercise. If left unattended or ignored, then minor complaints of back pain tend to become unbearable and often develop spondylitis. Slip discs or vertebrae dislocation also occur under extreme cases, where, urgent medical diagnosis or even hospitalization is needed in many such super specialized care givers. Hospital charges which include medication and/or surgical requirements also involve major expense. Opting for a medical insurance takes care of all hospitalization charges and medication costs as and when required. Here, both the options of cashless scheme or fund reimbursement claim, post-surgery, are available and can be opted as per the convenience of the customer. Several health insurance are available in India, addressing multiple medical conditions keeping in mind the benefit of the customers. Specialized packages have been launched where, a single policy, provides coverage for an entire family, having multiple members.

Keeping in mind the busy schedule of the employed population in urban sectors, insurances have gone online. Customers can apply for insurance online or claim fund reimbursement, where all official formalities can be conducted via web facilities. This makes it exceedingly simpler for customers having a hectic office schedule, thus aiding better time management. Further claim processing becomes much quicker due to automated work flows in such online systems. The insurance company’s web portal is designed in the most user-friendly manner to facilitate simple understanding for customers. Online premium calculator can also be accessed to get an estimate of the amount to be paid. Thus, insurances can be dealt with ease and efficiency anytime and anywhere.

Author: Chakraborty

Dr Chakrabarty is the Chief Innovation Officer of IntuiComp TeraScience. Earlier she was Assistant Professor of Delhi University, a QS ranked university in India. Before that she has held research positions in IIT Mumbai, IIT Chennai and IISc Bangalore. She holds 2 patents and over 20 research publications in her name which are highly cited. Her area of research is in smart technologies, integrated devices and communications. She also has a penchant for blogging and is an editor of Business Fundas.