Vacationing at least once in a year has become an integral part of many people’s lifestyle and as such the travel insurance has gained in importance like never before.
Just try to imagine the gravity of an emergency situation where you have to deal with an emergency medical situation due to an illness or an accident or injury. Any of these situations can throw you into a panic if you are not adequately prepared. And this preparedness comes from having travel insurance.
So next time you start planning for your next vacation, also include the cost of the travel medical insurance into your budget. Remember, without travel insurance your planning remains grossly incomplete. Even if you consider yourself in a perfect state of health, you cannot predict when accidents or sickness may befall you. Travel health insurance helps you to be on the safe side, so that you do not get hit with a huge medical bill.
Here is some basic information about travel insurance that will help you be well prepared for anything unexpected during your travels:
* Travel insurance in general does not just cover your medical expenses abroad, but also extends coverage to lost luggage and other personal belongings including passports and money. Repatriation costs are also included in the coverage and the costs incurred due to cancelled or delayed flights are also covered by the travel insurance. If you happen to damage items belonging to a third party, you get liability coverage from your insurance company. If you want all these expenses covered by your travel insurance coverage, you should purchase a comprehensive travel insurance policy.
* Most travel insurances generally cover trip cancellation, trip delays, medical and dental expenses, emergency medical transportation, lost luggage, missed connection, itinerary changes, accidental death, any kind of default on the part of airlines, cruise lines and tour operators.
* It is recommended that you buy your policy directly from the insurance company, rather than having it as an add-on to your travel package from your travel agent. This will give you considerable savings on the cost of the travel insurance and you will be able to buy a policy with more comprehensive features.
* Do not judge a policy on the basis of its price alone. A cheap policy does not necessarily mean it is a bad policy. On the other hand the more expensive policies may lack some of the more important features. So shop around on the internet, compare the travel insurance quotes and find a insurance product that caters to all your needs while traveling abroad.
* Last of all, do not take any travel policy for granted; go through it in detail, take note of the disclaimer and make sure that you do not get cheated on the important provisions of your coverage.
Posts Tagged ‘Accidental Death’
Travel Insurance For Peace Of Mind During Your Travels
Sunday, May 16th, 2010Options in Selecting the Right Life Insurance
Tuesday, March 23rd, 2010The city supplies applicable companies numerous types of life insurance policies for employees receiving an income, not limited to accidental death or dismemberment coverage, basic life insurance, and commuter and motorist life insurance. These programs are entirely funded by the City of Mesa, Arizona. Supplemental life insurance is also offered at a premium cost that the employee is responsible for funding.
Basic Life Insurance
Basic life insurance is provided by standard life insurance to full-time employees at no cost. The benefit is equivalent to the employee’s yearly salary rounded up to the next $1,000. When hired, the employee is asked to designate a beneficiary for the policy. It is highly recommended to verify the beneficiary every few years, particularly if a major life event occurs, such as marriage, divorce, or the birth or death of family members.
Accidental Death or Dismemberment
Similar to the basic life insurance policy, this kind of coverage is granted through standard life insurance to full-time employees. It is entirely funded by the city. The benefit is also equivalent to the employee’s yearly salary rounded up to the next $1,000. The beneficiary for this policy is the same individual that that is designated for the Basic Life Insurance described above.
Commuter Life Insurance
Provided through CIGNA Life Insurance, this type of policy provides a $200,000 death benefit to a beneficiary if the holder of the policy is killed as a result of an accident that happens during the commute to or from work using the normal route. This kind of policy does not cover travel by aircraft, however. If an employee travels by air on a regular basis for work, they may want to look into specialized life insurance that covers travel by air. The beneficiary for this policy is the same individual that is designated for the Basic Life Insurance described above.
Supplemental Life Insurance
Supplemental, also knows as voluntary, Life Insurance offers the opportunity to enroll in added life insurance coverage for the policy holder, their spouse, and/or any dependent children. Coverage for the policy holder and their spouse is available in $10,000 increments up to the total sum of the amount of life insurance that the City supplies in addition to what the employee obtains for supplemental life, but cannot exceed a total of $300,000. As an example, if an employee makes $30,000 annually, the City will provide a $30,000 policy at zero cost to the employee. If the employee chooses to then purchase $100,000 in supplemental or voluntary life insurance, the employee’s spouse can procure up to $130,000 ($30,000 granted by the City in addition to the $100,000 supplemental/voluntary purchased by the employee). Premiums for this type of coverage are the policy holder’s responsibility and will be withheld by payroll. The City does not monetarily contribute to this coverage.
To add or increase coverage and for more company life insurance basics the employee will need to complete an application form, which can be found at http://www.mesachip.org (click on “Benefit Forms”). If the employee does not wish to make any changes at this time, they do not need to re-enroll.
If previous enrollment in Supplemental Life Insurance has not already been completed, or if an employee wishes to increase coverage for them self or their spouse, they are forewarned that their application will be subject to underwriting and authorization by the carrier administering the plan.
This coverage may be transferable should the employee terminate employment with and/or retire from the City of Mesa. However, the coverage must be active at the time employment ends. If the employee does not meet the eligibility requirements to transfer coverage, the employee may choose to convert their policy instead. Please refer to the Life Insurance Certificate of Coverage.