The Gen XY Lifestyle
Benefits of investing in travel insurance
Protect yourself no matter where you go and no matter the season
With Christmas and 2017 approaching us soon, it is common to pack your luggage for a vacation with family and friends. Besides setting a budget aside for airplane tickets, accommodation and expenses, you should also think about investing in travel insurance.
Travel insurance offers protection when you travel abroad. It typically comes on a single trip or annual basis. Providing coverage for issues such as travel or baggage delay, loss of money and even flight cancellation; critical matters are taken care of when you’re travelling during festive seasons.
Check-ins and check-outs at airport in majority of the countries might be more chaotic than usual due to the overwhelming number of travellers. This results in a higher chance of your baggage being misplaced or flight being rescheduled or postponed, depending on severity of the weather due to the monsoon and winter season.
By investing in travel insurance, it helps you to recoup back unforeseen losses in terms of monetary compensation. Losing a significant amount of money during your travelling period can dampen your holiday mood. Therefore, purchasing travel insurance can be extremely helpful and comforting if your trip is being delayed or cancelled due to emergencies.
Getting stuck in a foreign country, facing language barriers can be really frustrating as well. When you’re dealing with unfavourable circumstances, travel insurance companies can provide travel aid and 24-hour emergency services. Not only will you be able to receive good advice from trained personnel, you can resolve issues promptly when they communicate with local emergency services on your behalf.
Travelling across the world also means that you will be experiencing a change in weather and temperature. This increases the chances of falling ill when your body is adapting to the environmental changes. Travel insurance comes into play by covering your medical bills. Depending on the foreign currency exchange rate, medical treatment can be really expensive for foreigners in certain countries. With coverage from travel insurance, you can receive full reimbursement for the treatment.
Medical evacuation is also included if you were to travel to the hospital via ambulance. For very serious cases, travel insurance can also cover the cost of a medical evacuation by air. Personal liability is also covered if you were to get physically hurt by a third party or when on their property.
Investing in travel insurance not only gives you peace of mind, it also diminishes the worries of your loved ones. Do read up on various travel insurance plans offered by different companies.
For AXA, they have the SmartTraveller plan that covers all of the above and provides coverage if you were to do leisure sports such as skydiving. AIG’s Travel Guard that covers such rare and unfortunate circumstances such as your travel agent becoming insolvent before your trip. For more options, you can read up on NTUC Income’s Enhanced PreX plans where they feature 3 different travelling plans.
Depending on your travel plans, purchase the one that offers you the most coverage and benefits. Do remember that it’s always better to be safe than sorry, especially when it comes to holidays!
