When we plan international travel, we make sure that flight tickets, hotels, and sightseeing points are booked. But what we ignore is 'International Travel Insurance'. According to experts, without a proper insurance plan, unforeseen problems such as medical emergencies, flight delays, or lost luggage can be very expensive for travelers.
Vishal Gupta, CEO of PhonePe Insurance, has provided detailed information regarding common mistakes made by travelers and the precautions they should take in this regard. According to Vishal Gupta, keeping the insurance amount low is the biggest mistake travelers make. Although a minimum medical coverage of 30,000 Euros is required for a Schengen visa, it is not sufficient for safety in expensive countries like the USA and Europe. The cost of a single day in an ICU there can exceed this amount. In addition, many travelers hide pre-existing conditions like diabetes or high blood pressure, which can lead to claim rejection later.
Focusing solely on medical expenses can also be detrimental. The policy should also include coverage for hotel and meal expenses due to flight delays, as well as compensation for lost luggage. Also, policies often have 'sub-limits' on various expenses, which means that even with high overall coverage, the actual claim received is lower.
Purpose and Duration are Essential
When choosing a policy, it is crucial to consider the travel destination, purpose, and duration. Since medical expenses are exorbitant in the USA and Europe, the coverage amount should be higher there, while a moderate amount may suffice for countries in Southeast Asia or the Middle East. If the trip is for business purposes, factors such as flight delays and laptop coverage become important. Conversely, for tourism or adventure trips, coverage for car rentals, cruises, and adventure sports is beneficial.
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Precautions for Senior Citizens
Senior citizens should take special precautions when purchasing insurance. They should provide complete information about their pre-existing medical conditions and choose a policy that offers cashless hospitalization facilities. Before purchasing insurance, it is important to read all the terms and conditions, exclusions, and deductibles. Proper planning makes it possible to financially protect oneself from unexpected problems abroad.