What is Travel Insurance and its Types
Travel insurance is an agreement between a travel insurance company and a policy-holder. This type of insurance is basically used to provide protection for the financial losses and medical expenses during travelling. It is very good option for those persons who travel frequently within or out of the country. Most of the people don’t even know the term travel insurance. Trend of travel insurance is increasing day by day and people are getting awareness about travel insurance. There are different companies that are proving travel insurance and they have different plans but people don’t know how to select a good insurance plan and what type of coverage is suitable for them.
In this article we will tell you about the different types of Travel Insurance and how to select insurance plan according to your financial needs.
Types of Travel Insurance
There are 3 major types of Travel Insurance which are proving different coverage but the basic coverage is same for all plans.
Tour Cancellation Insurance Plan
In Tour Cancellation Insurance Plan the company pays against the delay of your tour. Delay or interruption also comes in this category. The company is responsible to claim whether your tour is delayed by you or your company but there are certain rules and regulations of this plan. These rules are different for each company. Insurance company is responsible if one of the following event occur.
You have changed your mind about tour
Weather Related Problems
Late visa or passport processing
Injury or illness
Travel Medical Insurance Plan
In Travel Medical Insurance Plan the company pays against medical emergencies. It is for the medical protection of person. . There are different types of travel medical insurance. It may be for the short time, whole life or medical emergency. It depends upon the company which is providing insurance. Some companies have their own affiliate hospitals in whole world. You will not face language problem in such hospitals
Flight or Accidental Death Insurance Plan
In Flight or Accidental Death Insurance Plan the company pays the death reward to the family of insured person. Usually this type of insurance is connected with life insurance plan. Every company is providing different coverage in this regard.
There are following important things that must be considered before selecting insurance company.
Are you planning to within or outside the country
Frequency of your travelling
Do you have any fatal disease
Do you have life insurance
If You are from Canada then Click the link given as Sun Life Financial Insurance Company Canada
If You are from U.K then Click the link given as John Lewis Insurance Company U.K
If You are from U.S.A then Click the link given as Allianz Travel Insurance Company U.S.A