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Travel Insurance

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Travel Insurance

Travel insurance is a plan that protects you against unforeseen damage while travelling domestically or internationally. It protects against financial risks such as baggage loss, cancellation fees, and medical expenses. A travel insurance plan provides several benefits, such as 24x7 assistance, passport replacement, re-booking of cancelled flights, and so on. Purchasing travel insurance online is the most convenient way to take advantage of these benefits. The policies apply not only to domestic travel but also to international travel. Travel insurance plans generally offer additional risk coverage with add-on premium payments, so you can tailor them to your specific needs. However, coverage varies depending on whether you are travelling within India or abroad. As a result, before purchasing a travel insurance policy, you should read the policy terms carefully. With a new COVID-19 variant on the horizon and the New Year 2023 approaching, travelling to new lands with an international travel insurance policy is a good idea. In many countries, having travel insurance is required. Choose the best international travel insurance for your needs, whether you are flying away for work, study, or pleasure. An international travel insurance policy will protect you from the time you leave until you return to India.

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Why is Travel Insurance Important

A travel insurance policy generally covers medical risks, travel risks and flight disruptions. You can easily buy your travel insurance online that covers all possible risks ensuring a hassle-free trip. Listed below are a few reasons to justify the significance of a travel insurance policy:

  • • Coverage against medical emergencies : Any health emergency during travel can create panic, especially in an unknown place. Thus, an ideal travel insurance plan ensures that proper medical assistance and hospitalisation expenses are covered
  • Death of an Individual: In case of baggage loss, you will be reimbursed based on the sum insured.
  • • Reimbursement for replacement of lost documents or passports: The expenses that mayBe borne by the insured for the replacement of passports or documents is reimbursed based on the sum insured.
  • • Flight cancellation coverage: If your flight is cancelled or delayed, you will be reimbursed or refunded a certain amount per the policy schedule.

Advantages of Travel Insurance

  • • Medical benefits : Personal accidents, medical evacuation, ambulances, patient treatment, and hospitalization all are covered under travel insurance policies.
  • • Travel benefits: Delays/cancellations in flights and accommodation costs while in transit can be covered in a travel insurance policy.
  • • Baggage benefits : Loss of baggage or breakage or theft is covered as part of travel insurance.
  • • Additional benefits : Emergencies, repatriation, dental issues, tour operator default, and many other unforeseen circumstances can mar your trip. You can buy travel insurance online and seek protection against these problems.

Travel Insurance features and benefits

Compensation for flight issues Get travel insurance in which delayed or cancelled flights are compensated along with accommodation during the ordeal. Medical emergency and hospitalization Bearing the exorbitant medical expenses in a foreign country can be a nightmare. It is advisable to buy international travel medical insurance to seek financial assistance in case of any bodily injuries, basic treatment, ambulance, and even hospitalization.

  • Medical emergency and hospitalization : Bearing the egorbitant medical expenses in a foreign country can be a nightmare. It is advisable to buy international travel medical insurance to seek financial assistance in case of any bodily injuries, basic treatment, ambulance, and even hospitalization.
  • Repatriation of remains : In case of death while travelling, the travel insurance can cover expenses of taking the insured person's remains to the home country. You can get the above travel insurance coverages by purchasing online travel insurance policies.
  • Terrorism : Losses to mental health or bodily harm and death during an act of terrorism can be compensated by taking an appropriate travel insurance.
  • Loss of passport : This is the most important document while travelling and this can be compensated by a travel insurance policy offering coverage towards expenses for reissuance of odiginal passport in case it gets stolen or lost.
  • Personal liability: Personal liability covers offer coverage in case of any third-party bodily injuries during your travel or even if you accidentally damage a fellow passenger's property.
  • Travel and accommodation: Losses due to changes in routes, emergencies or delays are compensated in a travel insurance. In-between transportation costs, lodging, and ambulances (if required) are also covered.
  • Compensation for flight issues: Get travel insurance in which delayed or cancelled flights are compensated along with accommodation during the ordeal.




Travel Insurance

TYPES OF TRAVEL INSURANCE

• Domestic Travel Insurance :-

For travel within the legal boundaries of India, you can avail this type of best travel insurance policy and get coverage for delays and interruptions in your flight or trip. An ideal domestic travel insurance plan must cover medical emergencies, permanent disabilities, and even include the expenses and legal aspects in case of death during travel. The checked-in lost baggage and travel delay are usually included for personal liability.

• Group Travel Insurance :-

This is for people travelling together and unrelated by blood, who can take insurance together to seek the same protection as in the case of a regular travel insurance policy while saving costs of individual premium.

• Pregnancy Travel Insurance

This is a unique insurance covering the exigencies for a pregnant woman travelling to another country or even domestically who can claim medical assistance in case of any requirement.

• Overseas Travel Insurance

For all international destinations, overseas travel insurance policies are designed keeping in mind various possibilities such as compensation for total loss of baggage, cashless hospitalisation and more. These policies also cover travel delays, hijack risks and losses, evacuation, loss of important travel documents and life coverage.

• Student Travel Insurance

This travel insurance can help students going abroad to study in universities, colleges, and institutions of higher studies. Students can apply for it when they decide to pursue academic and professional courses in foreign universities. The paperwork required is minimal and comprehensive coverage is possible for medical and health, life, passport and documents loss, equipment loss, and interruptions in the course.

• Medical Travel Insurance

This type of insurance is specifically for the purpose of visiting a country for medical treatment. It covers short-term travel, along with medical emergencies and situations of evacuations from the foreign country. There can be various clauses and exclusions depending upon the insurance provider and from whom the medical insurance is purchased.

• Travel Insurance for Senior Citizens

This policy is a specially designed travel insurance plan for people belonging in the age group of 61 - 70 years. It usually covers dental and basic medical issues while they are travelling aboard with cashless advantages. It also provides other benefits associated with travel insurance.

• Family Travel Insurance

Your entire family can be covered within a single travel insurance policy when you are travelling together. This will include coverage for baggage loss, flight cancellations, medical expenses, and cashless hospitalization.



  • Eligibility criteria
  • Documents required
  • How to apply

Eligibility Criteria for Travel Insurance


Different policies have different travel insurance eligibility criteria. There are some mandatory documents required for travel insurance such as passport, visa, income details, and tax statements.

  • • Student Travel Insurance usually provides insurance to students in a specific age-group, who are travelling abroad for higher studies.
  • • International travel insurance and family travel insurance plans usually cover only two adults (up to 60 years of age) and two children (up to 21 years of age).
  • • Senior Citizens usually get travel insurance up to 85 years of age without having to go through any medical tests.

What are the Documents Required to Apply for a Travel Insurance?

  • Original ticket or boarding pass
  • Copy of the passport indicating travel dates
  • Claim form
  • Original bills, receipts and vouchers
  • For medical claims – medical practitioner’s consultation notes, original admission/discharge card, bills with prescriptions
  • Emergency travel certificate and new passport copy (in case of loss of passport)
  • Details of compensation provided by Airlines, if any (in case of loss of checked baggage)
  • Letter from policyholder citing the reason for the cancellation of trip
  • Copy of cancelled cheque

How to Apply for a Travel Insurance?

With Loan Magic, you can apply for a housing loan in various ways:

  • Visiting our Branch

    You can visit your nearest Loan Magic branch to apply for a Health Insurance offline. Our executives there will guide you through the entire process.

  • Through the phone