Will you be traveling abroad this spring break or during the summer? Having travel insurance is imperative to take care of potentially costly expenses due to an unforeseen medical emergency. It’s also important to be aware of your policy details including the number to call in case of an emergency. Not being prepared with the necessary information could lead to hassles for your family or time sensitive delays if you need to be hospitalized overseas.
If your plans involve a hiking, skiing, or any activity that involves significant physical activity, strongly consider having a checkup done before leaving . You should also have your insurer’s telephone number readily available and policy details like your policy number.
Travel insurance companies will typically extend two types of insurance claims: Cashless Facility or Reimbursement Facility, and it’s important to understand how these differ. In a Cashless claim, the customer or a representative from the hospital can contact the emergency line mentioned on the insurance policy to register a claim, which will be validated by the insurance company’s Assistance Service Provider. Should the claim be payable, the due authorization will be given to the hospital and the Provider will take care of settling the bill with the hospital.
In a Reimbursement Claim, the customer or a nominee contacts the emergency number on the policy and registers their claim on the date of the incident. The insurance company’s Assistance Service will validate the policy, acknowledge the claim, and provide the number for the claims registration. There will likely be a specified timeline to submit the claim supporting documents to the insurance company. If and when the claim is approved, the amount will be paid by the insurance company to the customer or nominee.