The travel insurance price, considering the level of coverage it offers, is a value for money. This is especially true when you are heading abroad with parents or grandparents with a medical condition.
The international cost of medical treatment can be exorbitant, especially when you do not have adequate coverage. With insurers like Tata AIG, senior citizen travel insurance offers all the essential protection, easing off unexpected medical expenses based on your coverage and condition. But how does everything work?
In this article, let us look into the medical expense reimbursement process in international travel insurance.
What is an Overseas Travel Insurance Policy?
Overseas travel insurance policy is insurance designed to protect travellers from uncertainty, i.e., emergencies while they are travelling outside their home country. It has broad coverage, including medical emergencies, trip cancellations or interruptions, lost or delayed luggage, etc.
The most important aspect of travel insurance is its international trip health insurance coverage. This coverage provides medical support in case of emergency, such as becoming sick or injured while travelling abroad.
It covers your hospital stays, consultation, prescription and medication, and evacuation to suitable medical care.
What Does Reimbursement Claim in Overseas Travel Insurance Involve?
Online trip insurance covers expenses incurred by the insured traveller, which the insurance company then reimburses.
The coverage typically covers outpatient medical expenses and non-medical circumstances such as loss of passport/documentation/debit card credit card, delay in the trip, missing connecting flights, personal liabilities, etc. Even minor treatments like fever, cold, or cough, where expenses are not high, are also covered.
Procedure for Reimbursement Claim in Overseas Travel Insurance
1. Inform your insurance company
You need to inform your insurance provider about the medical emergency and the type of coverage you need. Every insurance provider has a tie-up with an assistance company or TPA at the network hospital worldwide.
Your insurance provider will contact the TPA with the nature of support you require, whether medical or non-medical, with your location.
2. Retain all the documents
Once the traveller returns to India, they need to retain all bills, receipts, and relevant documents related to the expenses incurred during the trip.
This may involve the completely filled claim form detailing the type of loss incurred and other necessary information such as doctor’s statement and other medical information. Along with that one also needs to submit bank details and policy details.
3. Submission of documents
Then, you need to submit all the documents mentioned above to your insurance provider as mentioned in your traveller insurance.
4. Verification by travel insurance provider
Your insurance provider will verify your claim based on all the information provided by you. If needed, the insurance company will ask for additional documents.
5. Settles the claim
Once the verification is done, your claim falls under your policy coverage. Then, the insurance company will provide approval, and the reimbursement will be processed. The payment is released to the policyholder’s bank account within approximately 10 days* of approval.
Important Aspects of Medical Expense Reimbursement in Trip Insurance
- Based on the condition of the insured, in case of a severe medical emergency, the insured will be referred to the nearest multi-speciality hospital.
- The medical practitioner shall handle routine illness as per your language preference.
- Treatment that is special in nature, such as physiotherapy or psychiatric care, will be referred to specialists nearby.
- TPA informs the medical facility in advance to ensure quality treatment upon the insured’s arrival.
Reasons to Buy Travel Insurance for Overseas Travel
- Financial coverage against trip cancellations
- Coverage for loss of important travel documents
- Senior citizen coverage
- Coverage for lost or stolen debit/credit cards
- Coverage for missed flights
- Coverage for medical expenses or emergencies
- Coverage for lost or damaged baggage
- Coverage for third-party damages
Conclusion
Considering the possible risks and expenses associated with international travel, buying travel insurance online is a wise investment. It safeguards against unexpected circumstances when you are away from home, allowing you to enjoy your trip stress-free.
The reimbursement process for insurance claims is pretty straightforward and hassle-free. Your insurance provider verifies your claim and, if approved, reimburses you for covered expenses.
Frequently Asked Questions
1. Is purchasing travel insurance important?
Absolutely! Travel insurance is your travel buddy that helps you tackle unfortunate circumstances during your overseas trip. It safeguards you against financial losses due to flight delays, loss of baggage, or medical emergencies, giving you peace of mind during your trip.
2. Is there a need for approval from your insurance provider before getting medical treatment?
In case of an emergency, you can’t wait, so you don’t always need approval.
