#Travel Insurance Sectors Career Opportunity 28 January 2019


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Travel Insurance Sectors Career Opportunity: As we know travel insurance is very essential in order to cover yourself against travel risks such as lost or stolen luggage, cancellation and most importantly, unexpected medical costs abroad. If we consider the cost of a small medical emergency abroad could deplete one’s entire holiday budget it offers you peace of mind. In India, we have many insurance companies which offer a variety of travel insurance plans, Travel insurance sector is also a great career option in front of youngsters who want to work in the insurance industry. So in this article, we are going to see about Travel Insurance and its Key Points, Coverage, Charge, Benefits, Need, Insurance Companies and Top Travel Insurance Policies.

What is Travel Insurance?

Travel Insurance Sectors Career Opportunity

Travel insurance policies are the insurance that is planned to cover medical expenses, trip cancellations, flight accidents, lost luggage and other losses incurred while traveling. These policies cover not only domestic but also international travel as well. Travel insurance is usually organized at the time of trip bookings in order to cover the risks occurred during the trip. It usually covers the exact duration of that trip, but it also gives the option to be taken for a “multi-trip” to cover an unlimited number of trips within a particular period of time.

What does travel insurance cover?

The main motive of any good travel insurance policy is to make sure that your basic travel risk should be covered through that travel insurance. Medical coverage, Luggage protection, and Trip protection are three areas which are taken care of while taking travel insurance.

  • Travel Medical Insurance Coverage/Medical Evacuation: A good travel medical insurance will cover the medical cost that can occur during your travel. This mainly includes the cost involved from minor to severe injuries during your trip. In case you are away during your travel, It takes care of high medical costs. Medical insurance is very much important if you are traveling abroad.
  • Luggage protection: It is always better to take travel luggage protection cover while traveling abroad with some really expensive items in your luggage. It allows you to cover the cost of your stolen luggage during transit or travel, which also includes protecting your documents like your passport, your visa, etc.
  • Trip Insurance: Travel trip insurance is really helpful in case you have to cancel your trip at the last minute due to unforeseen circumstances. This gives you the option to save a considerable amount of money even though you are not planning the trip.

Travel insurance does not cover the following.

Every travel insurance policy has exclusions which mean the list of situations in which coverage is not provided. There is a specific list of reasons, and it should be reviewed carefully in order to avoid misunderstandings. Most travel insurance policies automatically exclude the following from coverage:

  • Losses due to a pre-existing medical condition
  • Last minute cancellations due to your financial standing.
  • Travel costs where the aim of the trip is to get medical treatment outside your home country.
  • Canceling due to weather conditions not conducive for travel.
  • Extreme, risky sports like sky-diving, scuba diving, bungee jumping, heli-skiing etc.
  • Losses because of war, military actions, civil disorder, and riots.
  • Losses due to venereal disease, AIDS virus, etc
  • Losses because of mental, psychological, or nervous disorders including anxiety, depression, neurosis or psychosis.
  • Losses incurred while the insured is lawfully drunk or under the influence of drugs.
  • Losses due to nuclear radiation or radioactive contamination.
  • Losses incurred while the insured is participating in an unlawful act.
  • Losses because of the insured intentionally causing bodily harm, including suicide.

There are plans available in order or cover any number of trips within a particular time period, which are known as Multi-trip policies. These policies vary in terms of coverage and have the capacity to cover areas with higher levels of risk like winter sports.

Charge of Travel Insurance

The amount of coverage that a person needs in case of travel insurance depends on factors like trip duration and the proposer’s age. The required coverage amount will go up not only in case of the longer trip duration but also in case of the proposer who is of advanced age.

Benefits of Travel Insurance

The travel insurance providers often offer useful services which include emergency travel assistance and concierge services and these are available, more often than not, on around the clock basis.

Need for Travel Insurance

Travel insurance comes in handy, especially while traveling abroad as the medical expenses outside India are usually pretty much expensive. There are some countries where the doctors may not diagnose a person if he or she is not covered by a travel insurance policy.

How to buy Travel Insurance

There are three options to purchase travel insurance. The most common among them is to get coverage for every trip. These policies can be available if the proposer does not travel frequently. People also have the option to choose multi-trip policies but normally these plans require every trip to last less than 30 days. If someone travels regularly he or she has a choice of annual policies.

List of Travel insurance companies in India

  • Apollo Munich Health Insurance Company
  • Bajaj Allianz General Insurance Company
  • Bharti AXA General Insurance Company
  • Cholamandalam MS General Insurance Company
  • Cigna TTK Health Insurance Limited
  • Go Digit General Insurance Limited
  • Future Generali India Insurance Company
  • HDFC ERGO General Insurance Company
  • ICICI Lombard General Insurance Company
  • Policies for Schengen Countries
  • IFFCO – Tokio General Insurance Company
  • National Insurance Company
  • Reliance General Insurance Company
  • Religare Health Insurance Company
  • Royal Sundaram Alliance Insurance Company
  • SBI General Insurance Company
  • Shriram General Insurance Company
  • Star Health & Allied Insurance Company
  • Tata AIG General Insurance Company
  • Travel Guard (without Sublimits)
  • Travel Guard Senior (without Sublimits)
  • The New India Assurance Company
  • The Oriental Insurance Company
  • United India Insurance Company
  • Universal Sompo General Insurance Company

Travel insurance – Points to remember

An individual needs to ask him or herself the following questions before choosing any travel policy:

  • Will they be traveling outside the country?
  • Can they pay the expenses for going back in case of an emergency?
  • Are they looking to take part in any of the extreme sports?
  • If they can afford the expenses of medical treatment?

The insurer needs to be aware of following are factors while buying travel insurance:

  • Getting familiar with cancellation policies followed by providers of travel services like tourism cruise lines and hotels.
  • Being aware of the price schedules, terms, exclusions, and conditions of the travel plan available.
  • Reviewing existing agreements and policies of credit card providers as in certain instances the credit card companies additionally cover car rental liabilities, lost luggage, and such other issues.

Top Travel Insurance Policies of India

ICICI Lombard

ICICI Lombard offers three travel insurance plans for customers viz Overseas Travel, Senior Citizen, and Annual Multi Trip. In order to cover unexpected non-medical and medical expenses, ICICI Lombard offers Overseas Travel. The Annual Multi-Trip plan is for people who frequently travel abroad. It also covers non-medical and medical expenses. The Senior Citizen plan is for people of an advanced age going traveling abroad. This plan covers medical and non-medical expenses as well.

Reliance General Insurance

Reliance General Insurance offers its customers the Overseas Travel Insurance Policy in order to cover global travel. It has two versions, one that includes US and Canada and another one includes the whole world except US and Canada. These plans provide the coverage for medical expenses including evacuation and transportation, loss of passport, dental care costs, total loss of checked baggage. The Annual Multi Trip Travel Insurance Policy is for travelers who travel abroad frequently and covers them for a year. It also provides similar coverage is as the Overseas Travel Insurance Policy. The Senior Citizens Travel Insurance Policy protects the traveler from the high expenses of medical treatment outside the country. The scope of coverage of this plan is also similar to the Overseas Travel Insurance Policy.

Tata AIG Insurance

Tata AIG Insurance offers the Overseas Travel Insurance Policy, which is around the clock policy that covers medical costs and loss or delay of baggage among others. It also offers the Domestic Travel Insurance Plan which covers missed departure, reimbursement of the lost ticket, and accommodation expenses owing to delay in the trip. Tata AIG Insurance also provides Student Travel Insurance for students who are traveling abroad for higher studies. It covers areas like sponsor protection, study interruption, two-way compassionate visit in addition to sickness and accident reimbursement and personal accident.


The HDFC Ergo Travel Insurance plan covers emergency medical expenses, loss of passport, emergency medical evacuation, loss of checked baggage, repatriation of remains, delay of checked baggage, emergency dental costs, personal liability, hospital cash, financial emergency assistance, accidental death and permanent total disability, hotel accommodation, personal accident, hijack distress allowance and flight delay.

Bajaj Allianz

Bajaj Allianz offers the travel plans such as Individual Travel Insurance, Corporate Travel Insurance, Family Travel Insurance, Travel Asia, Senior Citizen Travel, Swadesh Yatra and Student Travel Insurance.

We hope that this article will not only help you to get information about the Travel Insurance Sectors but also gives you the idea about how the travel insurance is useful for travelers and it can be a career pathway for you as well. For more Jobs related articles, keep visiting


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