There are travel insurance plans available for just about anyone taking
any type of trip, but all plans have different coverage and eligibility.
USI trip cancellation plans cover any U.S. resident of any age. Trip Cancellation
and Trip Interruption coverage generally kicks in if you, an immediate
family member or travel companion becomes sick (under the care of a physician)
or dies. Some plans may cover sickness or death of a pet, but this coverage
is less common – check with your plan if you need that coverage.
WHAT
Travel insurance provides coverage for unforeseen circumstances that
may prevent a traveler from taking their trip or disrupt their trip after they’ve
departed. Travel insurance plans cover specific “named perils” or covered
reasons for which a benefit would apply. Circumstances outside of those
covered reasons listed in the policy are not covered by the plan. When buying
travel insurance, a traveler should plan to cover any pre-paid, non-refundable trip cost.
WHEN
Travel insurance can generally be purchased any time up to the day
before departure, but the earlier a traveler purchases their plan, the better.
The plan is effective the day after purchase, and Trip Cancellation coverage
kicks in immediately in the event of a covered circumstance. Most plans also
offer Early Purchase Advantages – most commonly a waiver of the
Pre-Existing Medical Conditions exclusion and the optional Cancel
For Any Reason (CFAR) upgrade. The Early Purchase Advantages are only
available if the plan is purchased within a short time after the initial trip
deposit – travelers should check their plan for the Early Purchase time
period, as all plans are different.
WHERE
Most travel insurance plans cover a traveler any time they are 100 or
more miles from their home. Plans cover domestic travel within the U.S.
and also international travel. Most plans exclude coverage to certain
countries that may be experiencing war, unrest or other political issues,
but the common travel destinations are available for coverage.
WHY
Travel is not inexpensive, and the cost should be viewed as an investment. Should something unexpected cause a traveler to cancel or interrupt their trip, or if the traveler experiences a medical emergency, travel insurance can provide important financial protection, not to mention peace of mind.
Global Travel Medical Insurance
More and more accounts are choosing to offer a travel medical insurance
plan in addition to comprehensive trip cancellation plans to ensure coverage
for travelers who may not want or need a comprehensive plan. These travel
medical plans focus on coverage for emergency medical expenses
and medical evacuations, and they do not include Trip Cancellation
coverage. Because they do not include the Trip Cancellation benefit,
these plans are less expensive than a comprehensive trip cancellation
plan, so they may be a good alternative for more budget-conscious clients.
We offer two travel Medical plans: InterMedical and WorldMed:
The InterMedical plan can protect your travelers with medical benefits
when traveling outside their home country, and outside the U.S. This
coverage is ideal for travelers who don’t have a large upfront non-refundable
trip investment to protect, or who otherwise do not want the full trip cancellation plan.
The WorldMed plan is similar to InterMedical but offers higher benefit limits.
WorldMed has narrower eligibility than InterMedical in that it only provides
coverage for travelers up to age 64. Unlike the InterMedical plan,
WorldMed can cover travel inbound to the U.S. or outbound to another country.
Annual Travel Insurance
Many of our accounts now offer annual travel insurance to their clients
who seek it. This is not a full trip cancellation policy, but the plan includes
medical and baggage benefits, and coverage is automatic any time the policy
holder takes a covered trip 100+ miles from home during the plan year.
Do you have clients that may be interested in annual travel insurance coverage?
Ask us about the plan and request a proposal today.
