Travel insurance provides coverage in case an accident occurs while traveling, resulting in an injury or required hospitalization, or losing an organ, arms, legs, eyesight or life. However, such accident must occur within a stipulated travel period.
What are the criteria for claim payment?
The criteria for claim payment with regards to travel insurance can be categorized into two cases, as follows:
- If the insured loses life or organs, arms, legs or eyesight, the company will provide monetary compensation to the insured or their successors as follows:
- 1.1 Death: 100% of the sum insured
- 1.2 Loss of arms, legs and/or eyesight, on both sides: 100% of the sum insured
- 1.3 Loss of an arm, a leg or an eye: 50% of the sum insured
- If the insured is injured, the insurance company will pay for the actual hospitalization expenses, but the amount must not exceed the sum insured.
What are exclusions to the travel insurance policy?
Travel insurance is only intended to cover accidents where the risks are basic to the general public. Therefore, there are insurance exclusions where specific occurrences shall not be covered, for example:
- The insured acting under the influence of alcohol or drugs;
- Suicide, attempt to commit suicide, or self-injury;
- Wars, coups, rebellion;
- Riots, strikes, unrest caused by public protests against the government;
- Radiation or radioactivity from nuclear fuel or nuclear weapons;
- Taking part in dangerous sports, such as skiing, car races, skating competitions, etc.;
- While riding a motorcycle or traveling by motorcycle;
- While traveling by an aircraft that is not a commercial aircraft, such as a helicopter.