Travel Insurance vs Medical Insurance: Are They The Same?

For a lot of seasoned travellers, the concept of travel insurance comes across as a new idea. In reality, across several jurisdictions like Europe, it is mandatory to have a travel insurance plan and other documents to travel on a Schengen visa. When you dive into what is travel insurance and explore its benefits, it does make sense. A standard travel insurance plan can cover your medical expenses, emergency expenses, cancellations, and immediate cash needs.

When it comes to covering the medical expenses, you might get confused while thinking โ€“ is travel insurance the same as medical insurance? The short answer is โ€“ No. To get a better idea of the critical differences between the two, read further! ์นด์ง€๋…ธ์‚ฌ์ดํŠธ

Travel Insurance vs. Medical Insurance

Most medical insurance plans do not include foreign treatments unless specifically mentioned in the insurance documents. Hence, the travel insurance plan is more comparable with international medical insurance, as they compare cross-border medical risks.

Here are the common differences you will find when you research on is travel insurance same as medical insurance:

Width of Coverage: Travel Insurance covers a wide range of possible risks like theft, cancellations, and medical expenses. Medical insurance is designed to cover just the medical costs incurred as per the policy’s directives.

Location of Treatment: If you face a medical emergency in a foreign location, the travel insurance plan may necessitate only emergency care to be conducted there and all later procedures to be undertaken in your home country. International medical insurance will allow you to get the treatment you need in a foreign location, as far as it is already specified in the policy. ์•ˆ์ „ํ•œ์นด์ง€๋…ธ์‚ฌ์ดํŠธ

Pre-Existing Medical Conditions: Most travel insurance plans will not cover the pre-existing medical conditions you have. You would be asked to get a rider or an add-on or consider buying another insurance policy to get the necessary coverage. On the other hand, health insurance plans tend to cover the existing medical conditions and the foreseeable conditions since such risks are already priced into the premium you have been paying.

Tenure of Coverage: Travel insurance plans can give you coverage for 30, 60, 90, or more days. But, in most cases, the travel insurance plan would at best cover you across multiple trips in a year โ€“ not the entire year. Your medical expenses for the whole year or the stipulated tenure are covered in a medical insurance plan.

Medical Emergency Before the Travel: Imagine a scenario where a 28-year old architect from Delhi, Ashok, plans to travel to Sydney for a conference. He gets a comprehensive travel insurance plan for himself and his team. Unfortunately, on the night before the scheduled departure, he trips from the stairs in his office and ends up with a pulled hamstring. He has to be hospitalized and undergo treatment. ์นด์ง€๋…ธ์‚ฌ์ดํŠธ ์ถ”์ฒœ

In this case, the travel insurance plan may cover the cancellation charges, not the medical expenses he will endure for staying in the hospital and recovering. On the other hand, a medical insurance plan would have covered the medical costs throughout his recovery period. Still, it would not cover the cancellation charges he faces for the bookings and flights he will no longer use.

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