Standard travel policy to ease purchase of product: Who should go for it?

Those travelling to developed countries or needing elaborate coverage should consider existing plans

The Insurance Regulatory and Develop­ment Authority of India (Irdai) has focused in recent months on getting insurers to launch standard insurance policies. There is Saral Jeevan Bima for term insurance, Arogya Sanjeevani for health insurance, a standard personal accident cover, and so on. It recently came out with an exposure draft for standard travel insurance policies for domestic and overseas travel. This policy will be launched on April 1.

Will act as benchmark

A standard policy can serve as a benchmark for customers. Sanjay Datta, chief of underwriting-claims and reinsurance, ICICI Lombard General Insurance, says, “Customers find it difficult to