Understanding Foreign Travel Insurance: What Should You Know Before Sending Your Team Abroad?

Hello All,

We are planning to send our team members abroad. I would like to know about the foreign travel insurance. What is covered under this insurance? Is there any difference between Overseas mediclaim policy and travel insurance? What factors should be considered in such insurance/policy?

Thanks,
Meghana

Hi Meghna,

Travel insurance and overseas medical policy are one and the same thing; both are synonyms. Travel insurance can be taken in case of domestic travel. "Overseas" itself means foreign travel.

Both cover the same, depending on the country they are visiting and the period of stay abroad.

Regards, Manisha Dham

Hi Meghna,

Overseas Medical Policy considers two factors:
1. Visiting USA or Canada
2. Other than USA or Canada

There are various plans by which the amount of insurance cover differs from each other.

Regards,
Manisha Dham

Hi Meghna,

Though the terms are interchangeable and can be swapped in different contexts, overseas medical policy is designed to cover any eventuality while on a trip or studying or working. Therefore, it varies based on the purpose; for instance, when working and studying, it is imperative to have insurance coverage, as it is mandated by law in most countries.

Points to keep in mind include the terms and conditions, duration, exclusions, deductibles, and, of course, the premium. You may choose to purchase insurance from Indian companies or host country companies.

Another crucial aspect is the coverage provided by the insurance company in terms of networked hospitals. Additional details such as emergency evacuation, ambulance services, dental coverage, reunion expenses, special coverage for lost baggage, sports and activities coverage (including adventure sports), etc., should also be considered. Furthermore, if the trip includes visits to multiple countries, check if they are covered by the same company or associated companies, especially for regions like Europe.

Regards,

Yogesh Bisht

Thank you, Manisha and Yogesh, for the information. We are planning to send a team member to the US for 2 months.

Meghana