Eligibility criteria for travel insurance policy
To qualify for a travel insurance plan, you must meet the basic requirements:
● Residency/Citizenship: Often restricted to Indian citizens or residents.
● Age:
Single trip: 3 months – No upper limit
Annual multi-trip: 18 years – 70 years
Senior Citizens: Aged 71 and above
● Health status: * Pre-existing Diseases (PED): Standard plans exclude PEDs; however, you can opt for a specific PED Extension add-on to cover life-threatening emergencies related to declared conditions.
● Medical tests: Policies are typically issued on an instant basis without the requirement of a pre-policy medical check-up.
● Trip timing: The insurance policy must be purchased before your trip commencement date from India. Once the journey has started, a policy cannot be initiated.
● Destination coverage: You can choose plans based on your specific destination: Asia, Schengen countries, or Worldwide (with options to include or exclude USA and Canada).
● Relationships covered: A single floater policy can cover a maximum of 2 adults and 3 dependent children.
Basic requirements to buy a travel insurance policy in India
Buying a travel insurance policy in India is a simple process, but it’s important to keep the necessary information ready for a smooth purchase experience.
Personal Information: Name, age, gender, address, and contact number of each insured person.
Travel Details: Trip start and end dates, and destination country or countries.
Passport Details: Passport number and expiry date for all travellers (for international travel).
Health Information: Declaration of any pre-existing medical conditions for accurate coverage.
Visa or Admission Proof (for student plans): A valid student visa and admission letter for students applying for overseas education insurance.
Travel Insurance for Popular Destinations
Zurich Kotak General Insurance travel insurance offers coverage for trips across the world, helping you stay protected wherever you travel. Common destinations include the USA, UK, Canada, Australia, Schengen countries in Europe, UAE, Singapore, Thailand, and Japan. If you are travelling to Schengen countries, a travel insurance policy with a minimum medical cover of EUR 30,000 is mandatory for visa approval. The coverage, benefits, and premium may vary depending on the destination, mainly due to differences in healthcare costs and travel-related risks in each country.
Visa Information
When planning an international trip, it is important to understand the visa requirements for your destination. A visa is an official permission that allows you to enter and stay in a foreign country for a specific period. The type of visa required depends on the purpose of your travel, such as tourism, business, or study. Each country has its own rules, documents, and processing timelines, so it is advisable to apply well in advance.
Many countries require proof of travel insurance as part of the visa process. For example, Schengen countries mandate a minimum medical coverage of EUR 30,000. You may also need to provide documents such as a valid passport, travel itinerary, proof of accommodation, and financial statements.
Always check the latest visa guidelines from the official embassy or consulate, as requirements may change. Having the correct documents and valid travel insurance can help ensure a smooth visa approval process.
Travel Insurance vs Real Emergency Expenses
Travel emergencies can be unpredictable and often come with high costs, making travel insurance an important safeguard against such financial risks.
Situation | With Travel Insurance | Without Travel Insurance |
Medical Emergency | Hospital bills, doctor consultations, and treatment costs are largely covered as per policy terms, reducing your financial burden. | You must pay all medical expenses out of pocket, which can be extremely high, especially in countries like the USA or Europe. |
Trip Cancellation | Non-refundable bookings such as flights and hotels may be reimbursed, depending on the reason and coverage. | You lose the entire booking amount, as there is no financial protection. |
Flight Delay or Missed Connection | Expenses like meals, accommodation, or rebooking costs are covered within policy limits. | You bear all additional costs yourself, leading to unexpected expenses. |
Loss of Baggage | Compensation is provided for lost, stolen, or delayed baggage, helping you manage essentials. | You must replace your belongings at your own expense, which can be costly. |
Emergency Evacuation | Costs for medical evacuation or repatriation are covered, which can run into lakhs. | You are responsible for arranging and paying for evacuation, which can be financially overwhelming. |
Overall Impact | Provides financial security and peace of mind during uncertain situations. | High financial risk and stress due to sudden, unplanned expenses. |
0% GST on Travel Insurance Plans
Travel insurance premiums in India are usually subject to 18% GST, which is the standard tax rate applied to most insurance products. However, in certain situations, such as specific government-backed schemes or unique policy structures, a reduced or even 0% GST rate may apply. These exceptions depend on current regulations and official notifications. It is important to check the exact GST rate at the time of purchase to avoid confusion. The GST amount is calculated on the base premium as well as any additional cover or add-ons selected under the travel insurance policy.
Understanding travel insurance terminology
Navigating travel insurance can feel complex, especially with so many unfamiliar terms. To help you make an informed decision, here’s a simple glossary of commonly used travel insurance terms you may come across.
Travel & Trip Related Terms
Trip: Your insured journey starting from your departure and ending upon your return to India.
Trip Cancellation: Reimbursement for non-refundable expenses if you cancel your trip due to a covered reason (like illness or natural disasters).
Trip Interruption: Covers costs if your trip is cut short or interrupted due to emergencies.
Trip Delay: Compensation for additional expenses if your flight or journey is delayed beyond a specified duration.
Missed Connection: Covers expenses if you miss a connecting flight due to a covered delay.
Baggage Loss/Delay: Reimbursement for lost, stolen, damaged, or delayed baggage.
Policyholder & Coverage Terms
Policyholder / Insured: The person who buys the insurance and is covered under it.
Coverage / Inclusions: The specific benefits provided under your travel insurance plan.
Exclusions: Events or conditions not covered by your policy (e.g., certain pre-existing conditions or high-risk activities).
Policy Period: The active duration of your travel insurance, usually from departure to return.
Coverage Limit / Sum Insured: The maximum amount the insurer will pay for specific claims.
Sub-limits: Specific caps within your overall sum insured for certain benefits like medical expenses or baggage cover.
Medical-Related Terms
Medical Coverage: Pays for treatment if you fall ill or get injured during your trip.
Emergency Medical Evacuation: Covers transport to the nearest suitable medical facility or back home in serious cases.
Pre-existing Condition: A health issue you had before buying the policy. May or may not be covered depending on the plan.
Hospitalisation: Admission to a hospital for at least 24 hours to receive treatment.
Medically Necessary: Treatment or service required for managing a condition, based on a doctor’s recommendation.
Physician: A licensed medical doctor (cannot be a relative or travel companion).
Financial & Claim Terms
Premium: The amount you pay to purchase your travel insurance plan.
Deductible: The fixed amount you pay out-of-pocket before the insurance begins to cover the rest.
Claim: A formal request you make to receive benefits for a covered event.
Reimbursement: Payment from the insurer for expenses you’ve already incurred.
Proof of Loss: Documents required to process a claim (e.g., receipts, reports, medical bills).
Other Useful Terms
Cancel for Any Reason (CFAR): Optional benefit that lets you cancel your trip for any reason and still get partial reimbursement.
Terrorism Coverage: Protection for trip disruptions due to acts of terrorism.
Hazardous Activities: High-risk activities (like extreme sports) that may require special cover or be excluded.
Free-Look Period: A 15-day period during which you can review and cancel your policy for a full refund.
Grace Period: The window after a missed premium payment in which you can still renew the policy.
