Go, bungee jump!

Holidays today are no longer a trip to the seaside or a resort in the mountains. Adventure sports such as bungee jumping, parasailing, paragliding, deep-sea walking and trekking are equally popular among holiday seekers.

On a holiday while one cannot afford to take risks, one need not compromise on fun either. Perhaps for the first time in India, a special overseas travel insurance that covers adventure sports has been unveiled by Cholamandalam MS General Insurance.

What's interesting is the fact that the cover can be availed even by the elderly. (So now don't expect your grandparents to baby-sit while you go bungee jumping or skiing.)

The benefits of the policy include cashless settlement of hospitalisation claims abroad, coverage up to 70 years without medical check-up, online policy issuance, maximum coverage up to 360 days by extension, special family plans with children covered up to the age of 25 years and annual multi-trip plans.

The product has two variants - the cost-effective 'Silver' and comprehensive 'Gold' to suit specific customer needs at both ends of the spectrum.

Another highlight is the coverage for cruise travel and one-way immigration travel with no additional charge.

According to the company, Chola Travel Insurance brings with it the added benefit of a newly defined geographical scope - Asia Pacific (excluding Japan), as a result of which, travel cover to say Australia or Singapore is now more competitive in price, as against the industry practice of charging a price applicable for the 'excluding US-Canada' category for these destinations.

Most overseas travel plans start only when you cross the international border of India. Till then you would be saddled with all the risks that could befall.

Well, not any more. Cholamandalam's overseas risk travel package includes door-to-door coverage. This means the clock starts ticking as soon as you leave your apartment with your luggage to catch your flight or the cruise liner.

Anything could happen when you land at the airport. Your flight could get cancelled due to bad weather or strike by employees. Worse still you could have lost your passport. Cholamandalam's new policy compensates you on all these risks.

It will pay for food and lodging in the event of a delay in the trip in excess of 12 hours unless of course, the airline has already compensated passengers.

With Asia becoming a hot holiday destination and offering exciting adventure packages for families, insurance companies are also capitalising on the demand.

Many such as Bajaj Allianz and Cholamandalam are offering cheaper insurance coverage just as the airline industry is coming out with exciting low-cost fares.

What's more Cholamandalam offers per day rates, whereby one need not pay for a pre-fixed slab. Of course these special rates do not include trips made to the US or Japan, Australia and New Zealand.