Travel Insurance provides you with health, travel and life coverage during your foreign business or leisure trips, so you can travel tension free. Travel insurance is a way to protect you and your dependents from inconvenience caused by unforeseen circumstances and incidents. However, you should bear in mind that in some cases you may be required to pay upfront and get reimbursed upon return to your home country.
It can be therefore determined that travel insurance offer a huge advantage for the foreign traveler. It would be appropriate to mention here that it is mandatory to have a travel insurance to apply for visa to some countries which include the Schengen states. Most consulates give preference to travelers having valid travel insurance. This is our guide on everything you need to know about Travel Insurance in Pakistan. It will show you how to find the best travel insurance and take advantage of all of its benefits.
A Travel insuranceis a type of insurance that provides you with a range of coverage to protect you and your dependents against unforeseen circumstance and incidents while you are traveling. The coverage of travel insurance is usually valid during foreign travel. The type of travel insurance and coverage depends on the amount of premium, tenor and region to which you are travelling. The longer the tenor the higher the premium charged and greater coverage.
The travel insurance to get will be determined by who is being covered (individual/Family), tenor of the insurance (maximum 1 year) and where you are travelling to. The above will determine the amount of premium you are required to pay. Each Travel insurance plan determines the maximum coverage you are entitled to under each plan. You may then choose the plan to suit your budget and travelling habits/schedules. We recommend that you select an annual travel insurance plan so that you are covered during all your trips within a year. Annual travel insurance plan comes out to be cheaper if you are a frequent flyer.
The type of coverage being offered under each travel insurance may vary depending on the type of plan and the insurance provider however the common items covered under each plan would be Personal Accident Coverages, Medical Coverages, Loss of personal belongings, Delayed Departure/Trip cancellationto name a few.
Premium for Travel insurance are charged as fixed amount at the start of the insurance plan. The amount is calculated by the insurance company based on who is being insured, tenor and where you are travelling to. The premium varies from insurer to insurer. Some insurance companies may be able to offer lower premium than others. It is best to select a plan that covers you or your family for the whole year to any travel destination.
In most insurance claim cases, you may be required to pay the expenses upfront which would be reimbursed by the insurance company upon your return if the claim is covered under your insurance plan. The traveler will have need to bear the expenses which are not covered under your insurance plan.
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