For instance, what if someone from your family suffers a medical emergency in a foreign country? What if the flight is delayed or you lose your baggage at the airport? While planning an international vacation, most families overlook such unforeseen events. A travel insurance policy for the family is a smart way to stay prepared for such events.
If you are planning a foreign trip with your family, here are some of the reasons why you should consider purchasing family travel insurance-
1. Preparing for the UnexpectedThe biggest benefit of buying travel insurance is to protect your foreign trips financially. The insurance will provide coverage for a host of unexpected situations, including a medical emergency, loss of baggage, flight cancellation or delays, loss of travel documents, medical evacuation, and more.
Travelling to a foreign destination with your family is already an expensive affair. With family insurance, you can rest assured that you have adequate financial protection against unforeseen circumstances.
2. Single Insurance for Entire FamilyWith travel insurance for family, you are not required to purchase individual travel insurance for all your family members. It is a single insurance policy that covers all your family members. You pay a single premium which will mostly be lower than what you might have paid for purchasing individual policies for every family member.
Moreover, some of the top insurers also allow you to customize the insurance. You can purchase insurance for a single trip, multiple trips, or go with an annual plan if you and your family regularly fly to international destinations.
3. Mandatory in Some CountriesIf this is the first time that you are travelling abroad, you might not know that travel insurance is mandatory for foreign travellers in some countries. You will only be able to apply for the visa if you and your family members have valid travel insurance.
For instance, if you are travelling to one of the Schengen countries like Austria, France, Germany, Poland, or Switzerland, it is mandatory to have travel insurance to apply for the visa.
Secure Your Foreign Trips with Family Travel InsuranceDon’t let unexpected situations and their financial liabilities affect your family vacation. Purchase travel insurance for family to make sure that your foreign trip is full of great experiences and memories. Compare travel insurance quotes online and select one that offers the best coverage at a competitive price.
Click here to know more about travel insurance.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
Disadvantages of Early Retirement - What Happens When You're Not Working?
Early retirement seems to be good, many people enjoy life without working especially with extra earnings. But they are not aware about the cons. Lets explore the disadvantages of retiring early to save your retirement life.
5 Benefits of Health Insurance that Makes it a Must Have Cover
Here are the 5 benefits of health insurance that makes it a must to cover
When Should You Withdraw Money from a Mutual Fund?
In case of a sudden change in fund strategy or an underperformance scheme for more than 3-4 years, it makes sense to withdraw money.
How To Apply For Personal Loan
Applying for a personal loan has become extremely easy these days. With the increase in applicants, banks and other financial institutions have made the process very simple.