CashCow Chapter 2.5 – Travel Insurance, Really?

The heart bypass surgery costs you around Rs. 20 Lakh in India which is approximately $144,000 (almost a crore rupees) in the US.

One of my friends invited his parents to visit him in Canada and his father got cardiac arrest at the airport.

He got emergency medical support from the airport and being admitted to the hospital.

Imagine a situation, when your friend calls you to check the possibility of a chartered plane from Canada to India because it was not possible to bring back his father through the regular airline.

The cost of chartered plane plus treatment in India was way less than getting the same treatment in Canada without insurance.

It’s a real story. And there are bigger horror stories that you can find online.

Don’t travel to a foreign location without travel insurance.

Tips on Choosing Travel Insurance

Tip #1- Pick travel insurance that provides extended financial support in case of hospitalization.

Tip #2 – Select insurance that covers your extended foreign stay.

Tip #3 – Travel insurance that covers emergencies, cancellations (hotels, flights) in case of sudden illness or death.

Travel Insurance Recommendations

#1. Religare Travel Insurance

Covers pre-existing ailments, a maximum trip duration of 365 days and an additional sum insured up to 100% for accidental hospitalization.

#2. ICICI Lombard Travel Insurance

Covers travel insurance for a single trip, multi-trip, US, Asia, Schengen and senior citizen travel. ICICI Lombard offers 360 days of extended travel insurance.

#3. Bharti AXA Travel Insurance

That does not require you to undergo any medical check-up to 70 years and has a worldwide presence in 130+ countries.

From tomorrow, I am going to start the investment module. You need to create your safety net before entering into the investment phase.

Safety Net

  • Emergency fund
  • Life insurance
  • Health insurance

Let me know if anything is missing from your safety net

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