After any kind of natural calamity, insurance companies usually get jittery on the huge amount of claims they may have to pay. But following the recent floods in Uttarakhand, in which thousands lost their lives, general insurance companies have hardly seen any claims related to medical emergencies. This is because Indians don’t believe in taking travel insurance, especially if they are travelling within the country. Even when travelling overseas, most Indian travellers take insurance only if it is mandatory.
But given the small premium, it is advisable to buy insurance while travelling anywhere. For instance, for a 10-day trip to the US, for a 30-year old male, for a sum assured of $50,000 (approximately Rs 29 lakh) the premiums range between Rs 800 and Rs 1,020. For a 10-day domestic trip, for a 30-year old male, for a sum assured of Rs 60,000 the premium is around Rs 600. This amount is for medical reimbursement. In addition, the policy benefits also include additional amounts for medical evacuation, accidental death, transportation for family and accommodation for extended stay.
Full report here Business Standard