Almost 80% of the Indians traveling abroad don’t take travel insurance. The majority of them avoid it just because they want to save money as they already have spent huge chunks of money for the air tickets and hotel reservations. The other reason is that most of them don’t know about it (they are too excited to go abroad!)
Stay in a state run hospital in US and you pay almost 4 times that you pay in India. If it’s a major concern like surgery or a transplant, then you pay at least 10 times that you pay in India. Thus a small illness can spoil your holiday plans (not due to the illness but due to financial crisis) abroad.
This answers the Important question that, why we need a travel Insurance? Not to ruin the hard earned holiday, as simple as that.Today travel insurance comes with a comprehensive plan, and covers many travel related emergencies. The policies today are customized for different segments of customers and cater differently to students, business travelers and tourists. The policies can be customized in terms of duration, and can be matched with the travel schedule.
The policy broadly covers medical expense, loss of baggage, trip delay/cancellation, hijack distress allowance etc.

• For Students: Though many universities provide insurance but it is generally a medical cover. The travel insurance can provide for reimbursement for tuition fee in case of discontinuance due to sickness, bail bond cover etc.
• For Business men: Insurance are customized for multiple destinations in different countries.
• For Tourists: Cover for Loss of baggage, lost passport, emergency cash etc are provided.

So next time you travel, check out for a travel insurance in case you require it due to some unexpected occurrence.