BackFor visiting most countries, travel policy is mandatory
When you are travelling internationally, your health insurance policy takes a backseat
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Are there any critical illness plans specifically designed for women? Also, is there a checklist one can consider before purchasing a critical illness policy?
—Taruna Vats
Health requirements for women are completely different from those of men and few insurers offer critical illness cover just for women. Such plans cover diseases that are common among women, including cancer in the fallopian tube, ovarian cancer, vaginal cancer and breast cancer.
With regards to the checklist, here are a few things you need to be aware of.
• Decide whether you want a stand-alone critical illness policy or a critical illness rider with another policy. Women should usually buy a stand-alone product specifically designed for them as all other riders or stand-alone products available only cover a few commonly known critical ailments.
• Check the sum assured limits available; the higher the number, the better it is.
• Check for waiting period; the shorter the waiting period, the better it is.
• While filing up the proposal form, ensure you declare every detail.
I often see while booking a flight ticket that they offer a travel insurance policy at around 100. What all does it cover and under what circumstances? Is it really worth buying it?
—Arun
There are two types of travel insurance policies that differ on the basis of the destination. In case you are travelling within the geographical boundary of the country and are a resident, you are not mandatorily required to buy a policy. But in case you are travelling internationally, it is always advisable to take travel insurance; in fact, in most countries it is a mandatory travel pre-condition.
When you are travelling internationally, your health insurance policy takes a backseat and the travel insurance policy helps you take care of health insurance needs.
Generally, an international travel policy provides a medical expense cover, dental care expenses, loss of passport, total loss of checked baggage, delay in checked baggage, personal accident, accidental death and dismemberment – common carrier, personal liability, daily allowance in case of hospitalization, financial emergency assistance, hijack distress allowance, trip delay, trip cancellation and interruption, compassionate visit and missed connecting flight.
Generally, a domestic travel policy provides cover for flight delay, emergency/accident medical reimbursement, loss of baggage, trip cancellation/interruption and accidental death and dismemberment.
Please note that the benefits and the number of covers and the cover limits may vary from one insurer to another.
Queries and views at mintmoney@livemint.com
Yashish Dhaiya is CEO & co-founder, Policybazaar.com
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