Page 22 - Insurance Times May 2022

can be availed of by an individual, a family, senior citizen,
corporate or a student. The sectional covers include a package
of traditional covers along with Trip Delay, Hijack Cover and
Emergency Cash Advance. Claim Payments in Personal
Accident Cover and Hijack Cover are on Benefit Basis.
Deductibles and waiting periods are applicable to some of
the sectional covers, as per the Customer Information Sheet
on the website . A special feature of Travel Companion is The
Golfer's Hole-in-one. "A sporting gesture from the company.
It offers reimbursement of expenses incurred in celebrating
a hole-in-one by the insured during the trip, anywhere in the
world (excluding India), in a United States Golfers' Association
recognized golf course."

I have also selected the Travel Prime Student Plan from the
different variants of the Travel Prime group of products of
Bajaj for analysis. It is a comprehensive plan for students Maternity and Baby Cover from Day One, Mental illness and
going abroad for studies. The cover appears to be tailored to Alcohol related Disorder Cover. However, these covers have
the specific requirement of students. There are seven slabs not been mentioned in the relevant Policy Schedule. The
of Sum Insured ranging from 50,000 USD to 1,000,000 USD. policy can be taken for a maximum period of three years and
The first two pages of the Customer Information Sheet of extended by one more year on the basis of a Good Health
this policy indicates that the list of covers includes Personal Declaration Form signed by the Insured. Thus, a
Accident, Medical Expenses and Medical Evacuation, comprehensive cover can be utilized by students going abroad
Emergency Dental Pain Relief, Repatriation, Loss of Checked for studies.
Baggage, Accidental Death and Disability (Common Carrier),
Loss of Passport, Personal Liability and Family Visit. The Insurer can be contacted on either their toll-free number
or by e-mail. The Claim Settlement Procedure as indicated in
The other Additional Covers as per the relevant Policy which the website indicates that a completed claim form must be
are quite innovative and useful for the insured persons include submitted for all categories of claims. In case of Medical Claims
Bail Bond Insurance, Loss of Laptop, Tuition Fee, Accident to Authorization for release of medical information form and
Sponsor, Family Visit and Suicide. It would be interesting to the Attending physician's statement will also be required. In
observe that suicide is normally not covered in many policies. case of non-medical claims the documentary requirements
To quote further from the relevant Policy " Section 26- Suicide are mentioned on the website.
-In consideration of the payment of additional premium as
specified in the Schedule, it is hereby agreed and declared It is worth mentioning here of an innovative low-cost overseas
that in case of death on account of suicide or attempt to travel insurance product with limited features marketed by
suicide, one-time payment as mentioned in policy schedule an intermediary called Toffee Insurance as per their website.
would be offered as benefit. Waiting period for 6 month will Toffee Insurance has tied up with a number of private insurers
be applicable for this benefit since departure from India. In and is marketing their products in partnership with them.
case of co-renewal same will be applicable for first 6 months This comprehensive international travel insurance for all
from date of inception of the policy. The Company shall be countries comes with a package of covers. The premium is
under no liability to make any payment under Medical Rs. 346 plus for a policy period varying from one to one
expenses, evacuation, Repatriation and personal accident hundred and eighty days, appears to be quite affordable.
benefit in respect of any Claim for suicide."
This policy is available for individuals between 18 years to 70
There are also five optional covers, as per the relevant years of age. Deductibles are applicable for claims. Travel
Customer Information Sheet which can be taken with with Tourist/Visitor Visa is covered. Pre-existing conditions
additional premium in the Travel Prime Student Plan; Cancer and accidents due to hazardous sports and competitions are
Screening and Mammography Cover, HIV (Human not covered. It offers a viable and economical option to
Immunodeficiency Virus) and AIDS (Acquired Immune travellers. The wording is simplified and the digital option
Deficiency Syndrome) Cover, Pre existing illness Coverage, makes it attractive to many.

22 The Insurance Times, May 2022