Financial Value of Travel Insurance

Why Does Travel Insurance Make Financial Sense?

30 Dec 2019
80 Views

While the generations before us used to see travel as a rare luxury, most of us today approach traveling with a far different perspective. Indians are incorporating travel in their lives more than ever before. According to a report by the UN World Tourism Organisation, as many as 50 million Indian tourists traveled abroad in 2019.

Financial Value of Travel Insurance

There is, of course, a direct correlation between the rising incomes and the expenses Indians are willing to shell out for their travel plans. That is why it is estimated that Indians will be spending over $40.7 billion by 2025, on international travel alone. However, an important expense often seems to be missing from this figure and it is that of travel insurance.

While planning for their vacations, people make sure to bring along a whole list of essentials. But any travel plan is incomplete without the security of having a reliable travel insurance to protect you from unforeseen circumstances. The travel insurance available on Finserv MARKETS protects, students, individuals and families against a host of incidents, with a claim settlement ratio of 93%. Moreover, apart from its obvious advantages, travel insurance offers a lot of financial benefits to the average Indian traveler.

Therefore, while travel insurance might seem like an expenditure in itself, in the larger scheme of things, it only helps travelers to save money. Here are the various ways:

  • It is a huge help during medical emergencies:

Foreign lands bring new adventures, but they also bring with them the unfortunate possibility of suddenly finding oneself in need of medical care. In such a case, it can be difficult to figure out your next course of action as well as the expenses required to get medically treated.

When you have travel insurance, this becomes much easier to handle. Take the travel insurance available on Finserv MARKETS, for example. With the travel insurance benefits, you are guaranteed with an extensive coverage as well as medical help from any of their network of more than 10,000 hospitals around the world.

This type of coverage ensures that you will not end up disrupting your travel budget by shelling out for any expensive medical treatments abroad. Moreover, you are guaranteed to receive quality medical care in no time, even in an unfamiliar country.

  • Saves you from traveling hassles:

While traveling is an exciting experience, who among us hasn’t had their own share of bad experiences? This is particularly common and frustrating when it happens during the actual experience of traveling from one location to the next.

For instance, you might find out that your flight has been delayed or cancelled, with no news of whether the fares will be refunded or not. Or, your luggage might be delayed or lost at the airport during transit, and you might find yourself stranded without a clue of what to do next. Not only do such experiences prove to be a waste of time and energy, but also result in a loss of hard-earned finances.

However, you can avoid the pains of all of these by making the most travel insurance benefits. With the aid of travel insurance coverage, you can conveniently get the cost of any lost, cancelled or delayed part of your travel experience reimbursed. Travel insurance policies provide coverage to you for a number of situations, and these kinds of travel-related issues are generally always likely to be included.

  • Has you covered during unexpected events:

While travel-related problems such as the ones mentioned above are fairly common, there are a number of other cases that are hard to predict for anyone.

For instance, while you are traveling to a different country, it could be that the country gets struck by a hurricane, thereby restricting all international travel. This would lead to cancellation of your entire travel plans and therefore, loss of your travel expenses.

With either of these types of unpredictable situations, a travel insurance would rescue you and your finances in no time. That is because travel insurance benefits provide you, the traveler, coverage and protection from any natural as well as man-made disasters.

Therefore, traveling to an unfamiliar location with travel insurance is considered not only beneficial for your peace of mind but also for your bank balance. Moreover, with the type of convenient and reliable travel insurance available on Finserv MARKETS, you can always travel easy and carefree. They offer 24x7 assistance around the world and have a simple application process that requires minimal documentation and just minutes to complete.

 

Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.