Grasping the Fundamentals of Long-Term Travel Insurance Plans

Travel Insurance Plans

For some novice travellers, the topic of travel insurance can be confusing. Not everyone knows the benefits of purchasing travel insurance. Many people also remain unaware of the convenience and protection business travel insurance can provide. 

However, between the multiplicity of travel insurance policies with different coverage, level of protection, and duration,  it becomes a little difficult to decide which one will suit you best. 

If you travel multiple times a year, purchasing a long-term travel insurance policy is the best option for you. This article will provide you with all the crucial details you need to make an informed decision. 

 What Does “Long-Term Travel Insurance” Mean? 

A long-term foreign travel insurance plan is a type of travel insurance plan mainly designed for those who, particularly, love to go on long foreign trips, live abroad for an extended period, or visit other countries several times a year.

While single-trip travel insurance offers short-term coverage (mostly for trips ranging from 1 to 2 weeks), a long-term travel insurance plan covers multiple trips. 

Travel insurance long term plans are also popularly known as multi-trip insurance and are suitable for regular travellers who want comprehensive protection for a longer period, usually 6 months to 1 year.

Thanks to this insurance policy, you will be able to go abroad without worrying about unexpected events that you may face during your trip. Also, you can customise your plan if you need some extra coverage. 

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This is because, with insurance for long term travel you will be able to raise a claim if you are faced with emergencies like misplaced/lost baggage, medical issues, theft and missed/cancellation of your flight.

 Who Is Eligible For Buying a Long-Term Travel Insurance Plan? 

Any person who travels a lot and whose age lies between 19-70 years is eligible for taking out long term traveller insurance.

With this plan, you will be covered for, approximately 30-45 days consecutively when you are on a trip outside India.

 Some Advantages of Purchasing Long-Term Travel Insurance 

Buying a long-term travel insurance plan is highly recommended as part of a long-term trip, especially for:

  • Covering yourself and the third party in the event of an accident, health problem, or any other uncertain event while you are abroad (for emergency medical expenses and hospitalisation costs).
  • Facilitating the repatriation of remains in the event of death.
  • Avoid unpleasant financial surprises, especially given the cost of medical care in certain countries around the world, such as the USA. 
  • Receiving compensation if the flight gets cancelled or delayed.
  • Raising a travel insurance claim in the event of loss or theft of luggage.

 The Process of Raising a Claim for Long-Term Travel Insurance 

If there is an emergency, it is of utmost importance that you raise a claim within a week or so. If not possible, you should inform the insurance company as soon as possible so that it can initiate the reimbursement process.

  • You can visit the website of your insurer, and go to the Contact Us section to get their number or email address for filing a claim. You can directly ask for assistance by giving a call or sending an email to the insurance company. 
  • If the case is related to theft, you should notify the local authorities within 1 day of the incident.
  • For smooth processing of the claim, you need to keep all the documents handy. For example, you should have the invoice for medical expenses incurred, a copy of the FIR, and your insurance policy.
  • After examining the documents, the claim will be settled in about a month.
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 What Should Be Considered When Buying a Long-Term Insurance Plan? 

  • Long-term travel insurance is suitable for a person if he/she is a regular traveller or who flies frequently.
  • The duration of the trip should also be considered if you are planning to get this type of insurance. Check how many consecutive days of a trip will be covered under the plan.
  • How easy is the claims process? – the insurer should be able to provide an easy and quick claims process. For example, providers like Tata AIG offer online claims processes.
  • While buying travel insurance for long-term travellers, you should always read the coverage offered by reading the terms and conditions of the policy, especially if you go on worldwide tours or trips. 

 To Conclude 

Anything could happen during a trip, be it an accident, a case of theft, or flight cancellation.

With the financial problems associated with these incidents, it becomes crucial to have a safety cushion, like long-term travel insurance. It is an all-around protection tool which provides financial cover to the traveller so that he can be at ease during his travel.