Key benefits of SBI General's travel insurance products
With international flights fully resuming operations and also the summer season has approached, the demand for travel will further rise. In the past two years, the whole travel insurance industry has come to a halt. We expect to be able to resume normal operations soon. In fact, we have seen a marked increase in the enquiries for travel insurance coverage. Now that the situation is improving in India and internationally, with covid induced restrictions gradually being eased and people being allowed to travel, we will see a significant surge in demand for travel insurance cover within the next few months. A good travel insurance policy functions as a cover that can safeguard you from financial hardships while travelling to foreign countries. The benefits of travel insurance include trip cancellation and interruption coverage, reimbursement for expenses incurred due to substantial travel delays, missing connections, emergency money, and baggage concerns, and it also provides coverage for medical emergencies. The travel insurance products available in the market today are fairly comprehensive in terms of coverage available. In terms of premiums, we do not anticipate any industry wide increase in the near future although some companies might choose to do so depending on their individual experience. The Covid-19 outbreak has increased the importance of travel insurance, with people taking a more proactive approach to purchase insurance to secure their future. We have noticed a shift in people's travel insurance purchasing behaviour, with them now viewing travel insurance coverage as an essential safety net rather than a discretionary expense. People are also choosing comprehensive policies with broad coverage in light of global uncertainty. It is imperative to know the cover that a plan offers. It should be noted that most companies offer several variants of travel insurance products in terms of the geographies/ countries being covered. Hence, it is important to ensure that the travel plan selected meets your requirements. Also, make sure that you choose the adequate amount for the sum insured under the policy, which is appropriate to suffice any medical emergency in the destination country you will be visiting since medical costs vary significantly. Choosing a proper travel insurance plan is entirely dependent on the purpose of travel. What are the key benefits of SBI General's travel insurance products? SBI General’s travel insurance plans cover medical expenses incurred abroad as a result of hospitalisation due to illness, sickness or disease. Apart from this, a host of other benefits, including Personal Accident, Loss of Passport, trip cancellation/delay, delay of checked baggage, Home Burglary Insurance and others are also offered. Worldwide protection, easy claims settlement, single/multi-trip and round the clock assistance are some of the other highlights of the policy.