Family Travel Insurance Plans

Family Travel Insurance

Travel insurance is a necessary requirement for anyone travelling to a foreign country. Travel insurance protects against loss from plane or train ticket cancellations, medical expenses, hotel cancellations, theft, baggage loss, and various other unforeseen events that may spoil the trip. In fact, the importance of travel insurance can be gauged from the simple fact that the applications for the Schengen visa that covers most of West European countries, and the Australian visa, among others, must be accompanied by a valid travel insurance policy.

There are various types of travel insurance, though we will, in this article, focus on family travel insurance. We will try to give a brief introduction to this specific form of travel insurance and address a few pertinent queries that most of us have on the subject, viz.

    • What is family travel insurance?
    • Why do you need it?
    • What are different types of family travel insurance?
    • Which one do you need?
    • What do you need to check when you buy family travel insurance?

What is Family Travel Insurance plans

What is Family Travel Insurance?

Family travel insurance as the name suggests refers to one travel insurance policy that covers the entire family. The family generally refers to two adults below 60 years of age and two children below 21 years. It is also known as a family floater plan.

This policy covers all the four persons on an individual basis and is generally cheaper than buying four single policies for each member. It protects against all the standard unforeseen expenses that may crop up during a trip.

One thing to note, in these policies is the age limit. If the parents are beyond 60 years or one of the children has crossed 21 years of age, it may make sense to get different policies for each person. However, most insurance companies provide some relief and may have riders that will allow the person who has not met the age criteria to be covered under the same policy. This will mean some additional premium, of course, but may still prove to be cheaper than four individual policies. The same reasoning may apply if the family has three children. Instead of buying an additional policy for the child, it may make sense to talk to the insurance agent and get the third child included in the same policy by paying some additional premium.

Why Family Travel Insurance

Why do you need it?

Travelling with the family is certainly more fun but is also fraught with more risks. For instance, a small change in the weather or sampling the local cuisine that may not affect grown-ups at all but may have an effect on the child.

Parents must realise that their children are still growing up and their immune systems are still coming to terms with the germs, pollutants, effects of weather change, etc. that we, grown-ups, take for granted. A slight dip in the weather may bring about a cold or spending too much time in the sun on a beach holiday may lead to sunstroke. You may have to seek out a local doctor and get some medicines in the middle of your holiday. Unlike India, where most of the medicine is affordable, doctor and medicine bills in most foreign countries can total up to quite a tidy sum. Any hospitalisation on top of that will increase the expenses drastically.

Having a family floater plan helps in such cases. All medical expenses are reimbursed up to the agreed limit. Some insurers also provide cashless hospitalisation. This means that you do not pay anything. The insurance company settles all expenses on your behalf.

Taking another common example, holidays with children generally include a visit to a theme park. Most of these parks do not provide refunds in case of last minute cancellations. And since they charge the full amount of the package trip up-front, this means you end up losing the entire amount if you are not insured under a family floater plan.

In addition, other things such as flight cancellations, cruise cancellations, bad weather, etc. may put a spanner in your travel plans. Last minute plane tickets and hotel bookings can be very expensive. In fact, missing a connecting flight because an earlier flight was delayed can rake up enough expenses that may more than dent the holiday budget. Travel Insurance plans for family can prove to be a lifesaver in such cases.

To list down, some reasons why you need family travel insurance include:

      • Flight or train cancellations
      • Missed flights or delayed flights
      • Hotel booking cancellations
      • Package tour cancellations
      • Medical expenses
      • Hospitalisation expenses
      • Theft including loss of passport, identity papers, credit cards, debit cards, etc.
      • Political risks including strikes, civil commotion, etc.
      • Bad weather

These are just some of the many reasons why you need travel insurance, especially if you are travelling with the family.

Family Travel Insurance Types

Coverage Under Family Travel Insurance?

Most insurance companies offer different types of insurance plans. These may vary in terms of the coverage they provide or the time period or both.

Let's take the case of coverage first.

The basic family travel insurance plans cover only a few contingencies, like:

      • Medical expenses and evacuation or repatriation expenses (i.e., when you are stuck in another country with no money and have to be repatriated back to India)
      • Personal accident
      • Loss of passports and travel papers
      • Loss or delay of baggage
      • Missed or delayed flights
      • Extension of hotel stay due to unavoidable reasons

In addition to these, you may like to opt for adding other covers for bad weather, hijacking, personal liability, emergency cash, fire, home cover, etc. Some insurance companies may cover for all of these in one policy though most have two-three types of tiered policies that will let you access the cover against additional risks on payment of higher premiums.

It is important for you to understand what is covered under the policies. For instance, if you are staying with family, relatives or friends in the places to which you are travelling, reimbursement for hotel cancellations will not be that important as compared to having comprehensive cover against all medical expenses.

Let's now look at plans for different time periods.

If you and your family take more than 2-3 foreign holidays a year, it may make sense to buy a family floater travel plan that may cover multiple trips instead of a policy that only provides insurance for a single trip. Since the number of Indian families taking multiple foreign trips is on the rise, a lot of insurance companies have come up with competitive plans that provide cover for different periods such as 30 days, 60 days, 90 days or even longer. These family travel insurance plans let you avail 2-3 trips within a year as long as the total number of days does not exceed the time for which the coverage has been taken.

Buying one of these plans is definitely cheaper than buying a family travel insurance plan each time you and your family travel in the year.

These plans work well if the family accompanies the person who has gone on a business trip. Once the work gets over, the wife or the husband can join the rest of the family members in the holiday. Since frequent business travellers in India regularly clock trips abroad for work, it makes perfect sense to have the family accompanying him. Family travel insurance plans prove to be highly economical in such cases.

Read More: Benefits of Availing Family Travel Insurance 

Best Family Travel Insurance

Which one do you need?

This is an important criterion to think on before buying a family floater plan. As discussed, there are quite a few policies – from those that cover family members beyond the age limits to those that protect against various risks. You need to understand your risks well before you opt for one. Also, it makes obvious sense to choose the policy that provides the most comprehensive cover.

Policies with the least premium may not cover certain risks or may have certain limitations while covering those contingencies. And this brings us to the most important point while buying any insurance policy and especially a family travel insurance policy:

Family Travel Insurance Premium Reading

Read the fine print!

Understand what the policies cover and what they don’t. It makes no sense if your plane tickets are cancelled due to bad weather and you end up spending a lump sum on buying new tickets only to discover that your family travel insurance policy does not provide coverage against cancelled tickets for the children.

Most family travel insurance plans do not cover adventure sports or pre-existing ailments. Therefore, in case, you need insurance for these activities or for pre-existing health conditions, you should talk to the insurance company and make sure that your family is covered. You may have to pay some additional premium but the tension-free holiday will be worth it.

Buy Family Travel Insurance

What do you need to check when you buy Family Travel Insurance?

Let's take this in the form of a list so it’s easier to remember as a checklist:

      • Ensure relevant risks are covered:Insurance companies many not cover pre-existing ailments or certain costs such as for replacing prescription glasses, for adventure sports, etc. Make sure you are covered for these.
      • Read the exclusions: Go through the exclusions list in detail. You may be assuming the policy will cover a specific contingency while it may not or only cover the risk only up to a minimal amount. Ensure that there are no relevant risks that are left uncovered. For instance, if you are travelling to a remote country or region, it is essential that you have a cover for missed or delayed flights.
      • Compare: Take some time to compare the policies in detail. Most family travel insurance plans are steeped in technical jargon that makes it difficult to understand. A comparison site will help you understand and relate things better. You will also be able to differentiate between relevant details like cashless hospitalisation and hospitalisation expenses reimbursement (tip: the first one is better).

Family travel insurance only reimburses for the expenses, except where cashless services such as hospitalisation are specifically mentioned. This means that you will have to pay for the expenses when you are aboard and you will be reimbursed when you apply for it after you are home. Keeping some extra cash with yourself will ensure you do not face any problems in an emergency.

These should be enough to get you started on family insurance plans and look for the right type of plan for yourself and your family. Keep the main points in mind and select a plan that makes sense both coverage-wise and budget-wise.

What exact information do I have to provide to an insurance provider at the time of purchasing a family travel insurance policy?

Ans:

You need to provide the personal information of you and your family members who are traveling. The dates of birth are very important information that affects your insurance premium.

Trip details like the destination, which travel companies you’ll be using (if any), the dates of travel, and total expenses on the trip along with how much the trip costs each person in your group.

What is a pre-existing illness? Will I be covered for it?

Ans:

A pre-existing illness is an illness that you’ve been diagnosed with or are undergoing medical treatment before your trip starts. The pre-existing illnesses covered by each insurance company vary. It’s recommended that you must speak to customer support of the insurer before you purchase any plan. Also, don’t forget to read the fine print of your policy so that you know which medical conditions are covered. Most of the insurance companies don’t cover pregnancy. You need to keep in mind that your insurance provider will only provide coverage for pre-existing illnesses that you’ve declared.

Which is the best family travel insurance provider?

Ans:

The best family travel insurance provider depends on your personal preferences. Different insurance providers offer different benefits and they have different drawbacks as well. Few of the popular travel insurance providers that offer family travel insurance plans in India are- Apollo Munich, Future Generali, HDFC Ergo and Bharti AXA.

Can I cancel my family travel insurance plan?

Ans:

Different travel insurers have different cancellation rules. For instance, Bajaj Allianz charges Rs. 250 in case you cancel your travel insurance plan before starting your trip.

How can I compare various insurance plans offered by various insurance companies?

Ans:

It’s very simple. You can use online tools like PolicyBazaar.com to compare the insurance premium and features of plans offered by different insurance providers.

One of my family members traveling with me is 71 years old. Is it possible to cover him in a family travel insurance plan?

Ans:

Generally, most family travel insurance providers don’t cover people who are over 60-65 years of age. You might have to buy an individual travel insurance plan, particularly for this family member. You can get in touch with a representative from your insurance provider in order to be sure.

In case of a medical urgency, would I have to visit certain hospitals?

Ans:

Some insurance provider may have network listed hospitals overseas. Although, most of Indian insures allows you to visit any hospital to seek the medical treatment and the treatment cost will be covered.

What happens when I return to India before the last-day of my policy period?

Ans:

In that case, you might be eligible for a premium refund that varying as per the terms and conditions. This is applicable only if no claims have been filed and if the plan has been active.

If I want to extend my trip, is it feasible to renew my existing plan while I am abroad?

Ans:

Yes, you can renew your policy online with ease. All you have to do is fill up and submitting a form around 7 to 10 days before your policy expires. You need to get extension approval within 24 hours.

In case I am applying online, what all do I need to know?

Ans:

You would only need the basic information like the travel dates, your full name as per your passport, date of birth, passport number, Indian mobile number and your e-mailing address. Also, you must specify your nominee i.e. the individual beneficiary in case of the insured’s death.

Articles
Average Rating / 5 ( reviews)
view more
Expert Speak

How much to pay for insurance

As an adult, what would you say are the major concerns that need protection in your life? i’d rate death, disability, critical illness, general health and well-being, old age and saving for children as the top points of anxiety for all. while we can’t prevent time and fate, what we can do is create a financial cushion to protect us and our loved ones. insurance does this and allows us to do th... [Read more]

Articles

  • Why You Need Travel Insurance Policy

    Travelling has its own perks. The blend of different experiences, exposures to other cultures and adventures make travelling an essential element to bring a spark to one’s life. Through travelling, one can obtain a new standpoint on life. No matter, if you’re travelling alone or with family, whether it is an office trip or a leisure one, you always want your trip to be fun, invigorating and bracing. Obviously, you don’t want to bump into any trouble while visiting a new place, away from fami Read More
  • Does Your Checklist for Next International Trip Includes These?

    If you are running out of items for your bucket list for the year, deciding on a new destination can be exhilarating. The world is full of eye-catching vistas, amiable towns and enthralling cultures just waiting to identified and explored. It’s just a matter of choice, and the world is your oyester! Many say there is always a right time to do the right things, some wait for it while some make it happen. Some wait for the right time to leave a soul-sucking job, the right time to end a lethal re Read More
  • Frequent Traveller to Keep the Stress at a Bay with Multi-Trip Travel Insurance

    Is travelling your routine affair? Have you earned millions of frequent flyer miles? If your answer is YES, then buying a multi-trip travel insurance plan is what we can best advise to you! Your curious mind might force you to look for the offers given by the travel companies or explores more to get the best deal. Single-trip insurance is the best deal for those who travel less. But for a frequent traveller like you, a multi-trip insurance plan is the best, which covers you for multiple trips in a year (i.e. the policy term). Buying a multi-trip insurance plan is cheaper than buying t Read More
  • Prioritize Safety This Long Weekend with Travel Insurance

    “Even while travelling shorter distances to local destinations; it is imperative to be equipped before hitting the road.” – Kaitlynn Furse. As you head out this long weekend, we encourage you to keep safety top of mind with travel insurance and plan to be safe at your desired destination. A tropical storm. A landslide. Cancelled flights. Lost bags. There are a plenty of what-ifs which could derail your travel plans. But does it essentially mean that you require a travel insurance cover? Read More
  • Medical Travel Insurance a Must if Going Abroad for Honeymoon

    Wedding indeed is the biggest and happiest moment in one’s life. It’s not just about the ambience and rituals that go on at one’s home, but it’s also about the significant saying, “Two beautiful souls come closer.” Honeymoon is the next big step that a newly wedded couple takes soon after it is done with the wedding rituals. And, most couples today prefer vising abroad to explore exotic locations while enjoying the best of their lifetime in one another’s company. Everything is just be Read More

News

  • Deportation of 30 Indian Students from US accentuates the importance of student travel insurance

    Recently, 30 Indian students were deported from the US for failing to clear the immigration formalities. This brings in focus the heartbreaking side of overseas education and the role of student travel insurance in such a scenario. Students often ignore the risks involved in the procedure of going abroad for studies. The insurance market offers numerous student travel insurance plans with cover amount ranging from 25 lacs to 2.5 crores, for a period of up to 2 years and for the students between t Read More
  • IRCTC to Launch Baggage Insurance for Online Passengers

    The Indian Railway Catering and Tourism Corporation (IRCTC) has devised plans to launch baggage insurance for passengers as part of its efforts to provide them more facilities while booking tickets online through IRCTC website. Under a tie-up with New India Assurance, IRCTC will offer cover to a passenger in case of theft or loss of baggage. Goods like mobile phone, laptop or other valuable articles will also be covered as part of the travel insurance package. In a move to make it best travel ins Read More
  • Bharti AXA Unveils its First Travel Insurance Policy in India

      Bharti AXA General Insurance has become the latest entrant in the travel insurance sector with the launch of SmartTraveller that offers global coverage to students, individuals and frequent travelers. The policy offers a choice of two plans catering to needs of: Individuals and family through a variant Annual Multi Trip International travel insurance plan that covers geographies including USA and Canada, Schengen (enlistment under way); Asia excluding Japan and worldwide including Japan. The second plan covers students in the age group of Read More
  • IRDA Slaps Rs 20 Lakh Fine on Apollo Munich Health Insurance For Selling Plans via Makemytrip

    Insurance Regulatory and Development Authority (IRDA) has levied Rs 20 lakh fine on Apollo Munich Health Insurance Company for selling policies through Makemytrip.com (MMT), which is not an authorized platform to sell insurance. IRDA has imposed heavy penalty of Rs 15 lakh on the insurer for violation of the regulatory norms during 2008-09, 2009-10 and 2010-11. The apex insurance body has imposed Rs 5 lakh penalty on the health insurance provider for soliciting business from agents whose license ar Read More
  • New Zealand Extends Support for Indian Students by Announcing Scholarship Programme

    Indian students willing to pursue higher education can benefit from New Zealand’s programmes in 2016. Announcement of the latest round of Common Wealth scholarships from New Zealand provides aid programme for academically strong students with leadership qualities and commitment to India’s development. India and New Zealand have shared an excellent relationship with a range of growing political, sports, commercial and educational activities. The scholarship provided by this European country for Read More
Our partners
  • aegonlife
  • apollo
  • Aviva
  • Bajaj
  • baxa
  • cigna
  • edelweisstokio
  • exidelife
  • HDFC-ERGO
  • hdfcstandard
  • indiafirst
  • idbi
  • iffco
  • indiafirst
  • Kotak
  • liberty
  • lic
  • L&T
  • metlife
  • Max-Bupa
  • maxlife
  • Reliance
  • religare
  • royal
  • sahara
  • sbilife
  • star-health
  • Future Generali
  • oriental
  • universal Sompo
  • national
  • relianceGeneral
  • Kotak
  • United
  • digit
CIN: U74900HR2014PTC053454 Policybazaar Insurance Web Aggregator Private Limited, Registered Office no. - Plot No.119, Sector - 44, Gurgaon, Haryana - 122001
IRDAI Web aggregator License No. 06 License Code No. IRDAI/WBA21/15 Valid till 13/07/2018 Insurance is the subject matter of solicitation. Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the Insurer © Copyright 2008-2017 policybazaar.com. All Rights Reserved.