Travel Insurance – Your Financial Life Jacket
A lot of travellers want to enjoy a fine vacation but they often forget to buy travel insurance, thinking that it's only a waste of money. They feel like buying it only adds more burden to their travel investments than they already have.
But what if you broke a limb while sight-seeing – heaven forbid? What if you suddenly fall ill on the third day of your trip? More to the point, do you think your available budget would be able to cover your medical consultation or hospitalization fees? There seems to be more questions than answers.
It is high time for travel junkies to consider sparing some money for unexpected financial challenges. An even darker dilemma that many of them shudder to face is getting caught up in a medical emergency that necessitates airlifting. Have you enough money to pay for air ambulance and the personnel who will ensure your safe transport?
These situations may seem farfetched when faced with the prospect of touring historical sites, swimming in a tropical beach or tasting the local cuisine. However, once the unexpected does happen, you will have little time for regret. If you want to avoid such a scenario, your viable choice would be to arm yourself and your family with the right travel insurance plans.
The Right Travel Insurance Plan
What constitutes the “right” travel insurance plan? Simple: a plan that matches your needs.
How do you know if a plan matches your personal travel requirements? First, you should review your travel insurance policy. This approach will not only help you understand what to expect from the insurance provider and your corresponding responsibilities as a potential plan holder, but it also gives you an overview of your coverage plus the reasons that will render your claim null and void.
You have the option to customize your travel insurance plan. Talk to your agent and see what adjustments can be made within the ambit of your policy. In order to know whether a plan reflects your needs, assess the pros and cons of getting a travel insurance and see if the price fits your budget.
Types of Travel Insurance
Travel insurance plans come in all shapes and sizes but these are three of the most preferred plans:
1. Travel Medical Insurance – By far the most important type of travel insurance, travel medical insurance is available in both short-term and long-term trip plans. Take note: not all travel medical plans cover pre-existing conditions. Certain travel insurance companies do provide coverage as long as the pre-existing condition has been stable for some time and controlled.
2. Multi-Trip Annual Travel Insurance Plan – This is the perfect and most cost-efficient plan for frequent travellers. All your trips for the entire year will be covered. Each trip must not exceed 23 days. If you want to save up on your travel budget while making sure you have a financial buffer, then choose this plan.
3. Trip Cancellation Insurance – This travel insurance plan covers trips cancelled due to fortuitous events. It is an optional feature that can be added to existing trip plans, both short-term and long-term.
You have the leeway to avail of a comprehensive travel insurance package inclusive of all three plans. A comprehensive plan covers all grounds and is more cost-efficient particulary for travellers going on long-term trips.
For more information about travel insurance products and services, please do not hesitate to touch base with a trusted travel insurance provider that does not only understand what you want in a plan but accommodates your concerns and provides answers to your questions.
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