Everyone craves for vacations to savor some quality time with their family members and Indians are no exception. The outbound travel sector of India saw a powerful growth this year because international travel destinations are highly sought-after among Indians in 2015. Obstacles like inflation, skyrocketing ticket price and depreciation of rupee couldn't deter the wandering spirit of Indian travelers to travel across the world. Over 60% of Indians remain unmoved by the depreciating rupee and are raring to visit travel. However, the rate of availing travel insurance to guard the trip is still dismal among Indian travelers.
Young generations prefer traveling to international destinations once a year at least. Based on a survey, 90% of those travelers make use of their very own savings for overseas trips and don't consider travel cover. Quite surprisingly, this is actually the mindset of young internet savvy generation as ICICI Lombard conducted the survey in the age group of 25-35 among 1049 people across six metro cities in India who had international trips in the last year.The survey further reveals that Singapore is the most preferred travel destination among young Indian travelers; the second and third places are held by US and UK.Let's have a go through the travel plans available and their prices for those who favor these destinations. Let's focus on Singapore.If you compare travel plans readily available for couples who wish to go to UK, keeping the same criteria for trip duration, sum insured and age of the traveler, Religare provides the very best plan. The premium of the program is Rs. 1537.
For a visit in countries like Singapore, Thailand within Asia that has been the top travel destination of 2015, a couple has to pay even less for a vacation insurance policy. In the event that you compare travel insurance plans that cover Asia, you can get the cheapest premium of Rs. 1218 from Explore Asia plan supplied by Religare.
The positive area of the survey may be the increased awareness among Indian travelers. A lot more than 90% of young generation understands the travel insurance which is really a significant rise from last year's 80%. One of the major provider of travel insurance plans in India; ICICI Lombard underwritten an overall total travel insurance premium of Rs 100 previous year, one can expect the premium to improve by 5-10% in this year. The thing is not with the awareness; it is the lack of understanding about the benefits associated with these travel covers.
27% of the total respondents in the survey choose never to avail a journey insurance plan since they were under the wrong conception that such plans cover only accidents, loss of baggage and theft but don't provide medical coverage. That is not even close to being the reality as the whole break-up of Titanium plan by HDFC ERGO shows extensive coverage for medical emergencies.
25% surveyed people didn't buy any travel plan simply because they thought such plans are costly but it is not so. The buying price of all plans for person mentioned listed here are about less than Rs. 100 to less than Rs. 140 for every single day of a 10 days trip. Travel insurance policies for couples are even cheaper because they cost in the number of less than Rs. 65 each day per person to significantly less than Rs. 125 daily per person for destinations like US, UK and all countries in Asia including popular destinations like Singapore, Thailand.Indians love to spend their holidays in international destinations. An international travel insurance plan doesn't cost much and offers a lot in return. If you're also a travel freak, you need to insure the full total duration of the trip so you can enjoy your holiday with complete peace of mind.
Did you realize that the cost of medical care when you are traveling could be extremely high? If you should be already covered under an employer medical insurance plan or individual/family medical health insurance plan, you might think as you are able to travel without worries, but that's not at all times the case. Many HMOs, PPOs, and state health insurance programs don't cover you if you should be not in the United States. Even although you are traveling within the U.S., you might face high charges because the hospital or doctor you head to is not in the local plan. Travel insurance is pretty inexpensive and bridges the period when you are overseas, giving you peace of mind. If something does happen, you almost certainly won't be investing in the high cost of medical care out-of-pocket.