Is travel insurance mandatory?
No, travel insurance is not mandatory for all countries. However, there are certain countries like, United kingdom, Austria, Greece, Portugal, Spain, France, Germany, Belgium, Luxembourg and Netherlands, which require a travel insurance proof while issuing a visa. Also, those who are 60 yrs old and travelling to the United States of America, Canada or Australia must have a travel insurance policy.
It is advisable to keep a Travel insurance handy while travelling to any country. When people plan to travel abroad, They look for the most affordable air tickets which are usually non-refundable and non-amendable. This means that in case there is any emergency in the family and are not able to travel to the destination, there are very less chances you might be able to make changes or get any refund. In such situations, travel insurance can help you claim those unexpected expenses from the insurance company.
It is also important to consider the cost of healthcare, which is relevantly higher. Medical treatment abroad is approximately 3 to 10 times costlier than india. Let us look at the average medical cost for selected surgeries in different countries:
Indicative prices for certain treatments:
|
Surgery/ procedure |
Usa |
India |
Costa rica |
Mexico |
Singapore |
Thailand |
|
Heart bypass |
$144,000 |
$8,500 |
$25,000 |
$20,000 |
$13,700 |
$24,500 |
|
Angioplasty |
$57,000 |
$8,500 |
$13,000 |
$16,000 |
$7,500 |
$7,000 |
|
Heart valve replacement |
$170,000 |
$1,200 |
$30,000 |
$30,000 |
$13,500 |
$22,000 |
|
Hip replacement |
$50,000 |
$8,500 |
$12,500 |
$13,125 |
$11,100 |
$14,100 |
|
Hernia correction |
$4,000 |
$1,000 |
$1,200 |
$1,500 |
$2,500 |
$2,700 |
|
Dental implants |
$5,000 |
$700 |
$1,00 |
$940 |
$2,900 |
$3,000 |
Please note: above given are indicative prices and may change depending on the hospital the insured might has chosen. It does not include the cost of airfare, food, lodging, etc.
In the event you met with an accident or fall sick, you might have to shell out a fortune to take care of your medical expenses. Having a travel insurance will provide youwith a piece of mind in such situations.
There are other coverages which are available under a travel insurance which might also be helpful in case of an emergency. Let us list down few for your reference:
- Loss/ delay of checked-in baggage
- Loss of cash/ credit card
- Hijack distress allowance
- Loss of passport
- Legal expenses
- Delay or missed departure
- Trip cancellation/ interruption
- Trip delay
- Accidental death & dismemberment
- Emergency evacuations & repatriation of remains
A travel insurance does not cost you so much. It might not give you a bigger loss if you end up not using it during your travel, however, not buying one and ending up needing it is likely to cost a lot more. For a safe, hassle-free and peaceful travelling, we would recommend you to buy a travel insurance policy even in case you are not travelling to certain countries where it is not mandatory.
