Travel insurance is of prime importance if you are planning to travel to a far off place. It provides protection and covers any kind of loss that you may incur during a business trip or a leisure trip. Generally, travel insurance can be of the following types-

• Medical plans

These travel insurance plans concentrate on emergency evacuation and medical emergency. Usually designed for higher medical insurance limits and long term travel, they extend coverage that may not be included in packaged plans. Medical plans are effective even after departure and you can also extend coverage in case the original plan is no longer effective.

• Flight Plans

The flight plans extend Accidental Death and Dismemberment insurance while on board, or you are about to board, getting out of flight. The plan is also effective when you are in the process of being transported by airline authorities.

• Packaged plans

Packaged travel insurance plans include coverage for trip interruption or cancellation, baggage insurance, medical emergency and evacuation. Packaged plans have to be bought before you embark upon the journey. Excluding trip cancellation, the other benefits are pre-determined.

In order to get the protection you have to make payments in form of premium. The amount you shell out as premium depends on a number of factors like your age, total cost of your trip and your trip duration.

The effective insurance date depends on the coverage type. If you happen to cancel your trip, the trip cancellation plan will come into force 24 hours after the underwriting company has ordered for the same. As far as claims for trip interruption, flight insurance, baggage insurance as well as medical insurance is concerned; the same becomes effective on the date of your departure.

Buying travel insurance is very important because it can rescue you in a foreign land when you need help the most. Try to get adequate coverage and read the terms and conditions before buying a travel insurance policy.