Money Wise, Travel

Benefits of Taking Out a Travel Insurance

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In our digital world where every moment we leave home is posted on social media, the allure of global exploration beckons very strongly. Along with the adventures, misadventures can sometimes happen so we cannot stress enough the importance of safeguarding your trip. As you embark on journeys to discover new cultures, sample new dishes, witness breathtaking landscapes, and experience new thrills, you should include one indispensable companion in your checklist – travel insurance. Read more as we unravel the reasons why having a travel insurance plan is not just a prudent choice but an essential one for any traveler.

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We recently enjoyed a trip to Nagoya, Japan, along with an almost 200-strong delegation from Sun Life Philippines.

What is Travel Insurance

Travel insurance is a term insurance product designed to cover and protect against risks and financial losses that could happen to the insured while traveling.

Some of the risks include minor inconveniences, such as missed airline connections, canceled flights, and delayed luggage. Depending on the cost, insurance can include more serious issues including injuries, major illness, and even surgical procedures.

Getting Covered by Travel Insurance

Last time, I remember my sister-in-law telling me about somebody who went on a vacation to Singapore. It turned out to be a medical journey because of a ruptured appendix that needed removal via surgery ASAP. Thanks to her travel insurance, her hospital bills were taken care of and she got the best treatment in a Singapore hospital.

During our current trip to Nagoya, Japan with the Sun Life Philippines Macaulay Club members, one of our delegation had to be taken to the hospital. It was a minor incident and the patient was given clearance to travel the next day, but still, without travel insurance, you can just imagine the charges event of an outpatient in a Japanese hospital.

Considering that we were a 200-pax delegation and 1 member was taken to the hospital, I am deducing that a medical emergency can happen in 1 out of 200 people.

Benefits of a Travel Insurance Coverage

Here are the main benefits of a travel insurance coverage.

Guarding your health and finances

Travel insurance is like a security blanket for your health. Imagine a scenario where unexpected illnesses or accidents disrupt your trip. With the right travel insurance, you can access quality healthcare without the worry of exorbitant medical bills.

Rescue for trip interruptions

Life is unpredictable, and so are travel plans. Explore how travel insurance acts as a safety net, reimbursing non-refundable expenses in case unforeseen circumstances force you to cancel or cut short your trip. It can even cover travel delays or cancellations beyond your control.

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Flight cancellations can also mean cancellations of hotel bookings. You get refunds for unused hotel stays with your coverage.

A shield for your belongings

Discover the peace of mind that comes with knowing your belongings are protected. Whether it’s a lost suitcase or a stolen passport, travel insurance steps in to alleviate the financial burden and help you replace your essentials swiftly.

Evacuation assurance

Explore the safety net provided by travel insurance in times of emergencies. From natural disasters to political unrest, understand how travel insurance can cover the costs of an emergency evacuation, ensuring that you’re swiftly moved to a secure location.

Coverage tailored for adventurers

There are some of us who are into traveling in order to have access to certain exciting adventures. For thrill-seekers above the ordinary, discover how travel insurance can be tailored to cover adventure activities. Whether it’s skiing in the Alps or scuba diving in the Great Barrier Reef, you can customize your insurance coverage to be as adventurous as you are.

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If you are into adventure sports, you will need extra coverage for accidents and injuries.

Financial security for non-refundable investments

When the travel restrictions after the pandemic were lifted, many took the opportunity to revenge travel. But since tour operators and airlines are still getting back into the groove, many trips brought a lot of disappointments.

With travel insurance, there is financial protection for non-refundable expenses, such as flight tickets and hotel reservations. This benefit protects your wallet against unexpected flight cancellations or schedule modifications. At least, you can use your insurance claims to book another trip in the future.

Global assistance at your fingertips

Discover the benefits of 24/7 assistance services that are included in many travel insurance policies. Whether you’re faced with a medical emergency or need guidance in an unfamiliar place, these services provide invaluable support.

Make Sure You are Covered Before Your Next Trip

As you plan your next great adventure, most especially if it is an international trip, may you put more importance on travel insurance coverage. It is your protection against eventualities so that unavoidable expenses will not come out of your pocket and affect your savings.

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Enjoy a worry-free vacation or business trip because you know you are covered.

From guarding your health to ensuring financial security, a comprehensive travel insurance plan is the key to achieving a worry-free global exploration. Embrace what the world has to offer with confidence, knowing that your travels are protected by the indispensable shield of travel insurance.

Take care and enjoy your worry-free trip wherever in the world!

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