Travel Insurance or International Health Insurance: Which is the Best Option for You?

According to UNWTO World Tourism Barometer, international tourism grew by 4.4% in the year 2015 and it is growing at a fast pace. Every year, near around 1.2 billion people travel abroad and they have to face several issues, while traveling in a foreign land.

Going for international travel is an exciting experience, but you must be prepared to face the unexpected. There are several instances when people need emergency medical treatment or they loss their baggage while travelling, loss of personal documents, loss incurred due to flight delay/cancellation, etc.

In order to tackle this scenario, people are looking to buy an insurance plan for their overseas travel. But, there are confused between Travel Insurance or International Health Insurance. Actually, people don’t understand the difference between these two policies that leave them in a difficult situation overseas.

In this blog, we will help you understand Travel Insurance and International Health Insurance.

What is Travel Insurance?

A travel insurance plan would be a right choice for those on a pleasure or business trip and it is designed to cover you for trips of limited duration.

A Travel Insurance provides cover for following contingencies.

  • Emergency medical treatment & emergency medical evacuation
  • Loss of baggage
  • Loss of personal belongings
  • Trip delay/cancellation/curtailment
  • Personal liability
  • Accidental death & dismemberment
  • Repatriation of remains, etc.

It’s not an exhaustive list of coverage available under a travel insurance. The plan benefits and the coverage available may differ from one plan to another.

When choosing a travel insurance plan, it is advisable to look upon a plan that provides coverage against major contingencies that you may have to face while travelling abroad.

In case, you have opted for Tata AIG Travel Guard Policy, you can avail following benefits.

  • Medical expenses due to accident and sickness, while traveling are covered.
  • Checked baggage loss is reimbursed up to 50% per bag and per article, 10% amount is reimbursed.
  • Compensation for reasonable expenses incurred due to Baggage delay.
  • Other perils such as Loss of Passport, Personal Liability, Hijacking, Flight Delay, Automatic-extension of the policy, Accidental Death And Dismemberment and Sickness Dental Expense is also covered under this policy.

What is International Health Insurance?

An International health insurance plan is designed for expatriates working or living overseas for a long period of time. It provides cover against emergency and routine health care expenses and this health insurance plan provides you a flexibility to approach a doctor and/or treatment facility of your choice.

With an International health insurance plan, you can receive treatment anywhere within the region of cover. Those who have a home abroad or relocating there and looking for a comprehensive medical cover, choosing one of the best health insurance policies is the right choice.

Check out this Articles: Things You Should Know While Planning Your Studies Abroad

When you need an emergency medical treatment in a region where you are not accustomed to the health system and the local language, choosing the best health insurance policy will help you get the medical attention.

Following are the contingencies covered under an International Health Insurance.

  • Hospital stay
  • Routine check-ups
  • Cover for pre-existing conditions
  • Cover for chronic conditions
  • Out-patient treatment
  • Maternity care
  • Dental care
  • Repatriation

In case, you have opted for Star Student Travel Protect Insurance Policy, you can avail following benefits.

  • Emergency medical expenses including medical evacuation and transportation of mortal remains.
  • Dental emergency expenses following an accident.
  • Cover for Loss of checked-in baggage, Loss of Passport.
  • This policy also provides student interruption benefit as reimbursement of tuition fee.
  • In case of hospitalization, it covers travel expenses for a compassionate visit for one of the immediate family members.

Conclusion

By buying a Travel Insurance Plan, you can get a comprehensive cover against all the medical and other travel-related contingencies. However, by opting for an international health insurance, you can get an exclusive coverage for medical expenses. An international health insurance is the best for those who are working or living abroad for a long period of time, but a travel insurance plan provides cover for limited duration.

So, it is essential to weigh up your options and then choose a plan that can ensure a complete protection against all the probable risks, when you are abroad.

Harjot Singh Narula

Harjot Narula is founder and CEO of ComparePolicy.com, an IRDAI approved insurance web aggregator focussed on selling online insurance for companies. Harjot has more than a decade of experience in software development and has also spent 5 years in US working for the mortgage and risk management industry.

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