Everyone craves for vacations to enjoy some quality time using their family members and Indians are no exception. The outbound travel sector of India saw an effective growth in 2010 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 attend travel. However, the rate of availing travel insurance to guard the trip continues to be dismal among Indian travelers.
Young generations prefer to visit to international destinations annually at least. Based on a survey, 90% of those travelers utilize 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 generation of 25-35 among 1049 people across six metro cities in India who had international trips in the earlier year.The survey further reveals that Singapore is the absolute most preferred travel destination among young Indian travelers; the 2nd and third places are held by US and UK.Let's take a consider the travel plans available and their prices for folks who favor these destinations. Let's focus on Singapore.If you compare travel plans 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 best plan. The premium of the plan is Rs. 1537.
For a trip in countries like Singapore, Thailand within Asia that has been the most truly effective travel destination of 2015, a couple has to pay even less for a travel insurance policy. In the event that you compare travel insurance plans that cover Asia, you are certain to get the best premium of Rs. 1218 from Explore Asia plan given by Religare.
The positive part of the survey could be the increased awareness among Indian travelers. Significantly more than 90% of young generation understands the travel insurance which is a significant rise from last year's 80%. Among the major provider of travel insurance plans in India; ICICI Lombard underwritten a complete travel insurance premium of Rs 100 previous year, one can expect the premium to increase by 5-10% in this year. The problem is not with the awareness; it's the lack of understanding about the huge benefits associated with one of these travel covers.
27% of the total respondents in the survey choose not to avail a vacation insurance plan simply because they were underneath the wrong conception that such plans cover only accidents, lack of baggage and theft but don't provide medical coverage. This really is far from being the reality as the entire break-up of Titanium plan by HDFC ERGO shows extensive coverage for medical emergencies.
25% surveyed people didn't buy any travel plan because they thought such plans are costly but it's not so. The price tag on all plans for person mentioned here are about significantly less than Rs. 100 to less than Rs. 140 for every day of a 10 days trip. Travel insurance policies for couples are even cheaper because they cost in the range of significantly less than Rs. 65 daily per person to significantly less than Rs. 125 each day 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 supplies a lot in return. If you should be also a travel freak, you ought to insure the sum total duration of the trip so that you can enjoy your holiday with complete peace of mind.
Did you know that the price of medical care when you're traveling could possibly be very high? If you're already covered under an employer medical health insurance plan or individual/family medical insurance plan, you may be thinking that you can travel without worries, but that's not necessarily the case. Many HMOs, PPOs, and state health insurance programs do not cover you if you should be not in the United States. Even although you are traveling within the U.S., you can face high charges because a medical facility or doctor you go to isn't in your local plan. Travel insurance is rather inexpensive and bridges the period when you are abroad, providing you peace of mind. If something does happen, you probably will not be paying for the high cost of health care out-of-pocket.
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