Insurance

Insurance - All The Information You Need On Insurance

Who Else Wants To Understand Travel Insurance Policy Language?


Insurance

Aren't all travel insurance plans basically the same?

No. When you read travel insurance policy language, remember that as with any legal document, the definition of the terms is what governs the working of the policy (including payment of the claim).I create hypothetical travel scenarios for training purposes. This includes contacting our travel insurance suppliers' claims departments to see how they handle a given scenario.

A common concern of travelers are Pre-Existing Medical Conditions. In some cases, you can cancel, interrupt your trip or receive medical treatment if you (or a non-traveling family member) has a pre-existing condition. It has to do with the policy's wording.

All travel insurance excludes claims due to pre-existing medical conditions. Some travel insurance plans will waive the pre-existing condition exclusion if you get your travel insurance in the first 10, 14 or 21 days after your first trip payment date (ie - before the end of these 10, 14 or 21 days).

Any payment on your trip is considered the first payment. This includes the tax you pay when you redeem frequent flyer tickets, refundable deposits or even a trip planning consultation fee if that fee is later credited toward your trip costs.

You'll protect yourself if you have to cancel or interrupt your trip because of that pre-existing medical condition. There are three primary rules to keep in mind:

  • You have to insure your trip's full prepaid, non-refundable cost and
  • The person with the medical condition has to be medically stable when you get your insurance and
  • You must get your travel insurance in the first 10, 14 or 21 days after your first trip payment date.

You can cancel or interrupt your trip or receive medical treatment even if you have a pre-existing condition - if you follow these rules.

This seems simple enough, doesn't it?

Yes. Except there are companies that interpret this wording slightly different from what you expect. Be on the lookout for a clause in policies that states, "General exclusions include any expected or foreseeable events".

What this means to you is this: If you buy a travel insurance policy that includes the words "General exclusions include any expected or foreseeable events", here's what you need to do:

  • Ask if buying the policy in the Waiver Period really does waive this general exclusionand
  • Are there other conditions (ie - medically stable or covering the full trip cost) that have to be satisfied
  • No Surprises
    If you are told, "No, that wouldn't be covered because it's not unforeseen", I strongly suggest you steer clear of those companies - you don't want an unexpected surprise.

    We do not offer policies from companies that play this semantics game. Like you, I want to be sure a travel insurance plan will work just like I expected it to.

    Steven Dasseos is the founder and CEO of TripInsuranceStore.com. You can compare reputable travel insurance plans at this website. Contact Steve Dasseos here.







    Car Insurance Rates   |   Dental Insurance   |   Health Insurance   |   Home Owner Insurance   |   Life Insurance Quote



    | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 |











    Choosing The Best Life Insurance Option For You
    Life insurance in the UK is becoming more and more popular with many people now realizing the importance and the benefits of a good life insurance policy. There are two main types of popular life insurance, both of which offer a range of invaluable benefits to UK consumers.Level Term Life InsuranceLevel term life insurance is the most popular type of life insurance policy with UK consumers, and this may be because it is also the cheapest form of insurance. With level term insurance, you and your family can enjoy peace of mind at an affordable price. If you die during the term of this insurance policy,...(related: Insurance)


    Choosing Buy-to-let Property Insurance
    Risk is an area often overlooked by landlords, but failing to protect the main assets of your business, which often have borrowings secured against them could lead to ruin.Landlords often...(related: Insurance)


    The Immorality Of Guarantee Issue Health Insurance
    While there are genuine debates about whether privatized health insurance or nationalized health insurance policies make more sense, there can be little doubt that gua...(related: Insurance)


    Types Of Homeowner Insurance
    There are 6 different types of homeowners insurance in general that are consistently utilized. Of these HO-3 is the most usual policy then it is followed by HO-4 and HO-6. Others less used, but still important, are HO-1, HO-2 and HO-5. Everyone is described below:HO-1A limited policy that offers varied degrees of covera...(related: Insurance)


    What Is Permanent Life Insurance?
    Unlike term life insurance, permanent insurance policies such as universal life, variable universal life and whole life provide long-term financial protection. This type of insurance will cover you for the duration of your life and continued on time premium payments. Permanent poli...(related: Insurance)


    Discount Life Insurance Will Give You The Best Protection You Need
    There is always a chance that there is a better deal somewhere else, no matter what you are buying. That is why you should research and find discount life insurance. Did you know that life insurance ...(related: Insurance)






    Google




    Basic Coverage Of Homeowner Insurance Policies
    The insurance policy is a package that includes more than 1 type of insurance in a policy. There are 4 types of coverage contained in the home insurance policy.Included are:Dwelling and Personal PropertyPersonal LiabilityMedical PaymentsAdditional Living ExpensesIn this article, Dwelling and Personal Property Damage will be explained:Property damage coverage will help pay for any damage to your dwelling or personal property. Other parts of your home, such as a detached garage, a shed, or any other building on your property are usually covered for about 10% of the amount of coverage on your home.Personal property coverage pays for your personal property, which includes your furniture, clothing, and other personal property.The amount of that insurance coverage is about 50% of the policy...(related: Insurance)

    Group Term Life Insurance And The Options Available
    Group term life insurance is more affordable than individual life insurance policies because the costs to the insurer are lower. They have less paperwork to handle, and are guaranteed multiple accounts from one sale - which is their incentive for offering this type of policy.A group term life insurance policy offers life insurance coverage to all the ...(related: Insurance)

    Home Insurance Terms
    Home insurance, or even homeowners insurance, is an insurance policy that combines insurance on the home, its contents, loss of the use of the home (additional living expenses) and, typically, the more individual possessions of the homeowner, as well as liability insurance for accidents that can transpire at the home.The cost of homeowners insurance scales upward depending on what it would cost to replenish the home, and which extra "riders", meaning extra items to be insured, are bound to the policy. The insurance policy itself is a long contract, and list what will and what will not be paid in the case of various cases.Virtually all insurers charge less if it appears less likely the home will be damaged or even destroyed: as an example, if the...(related: Insurance)

    site-map - Copyright © 2006 Insurance | All Rights Reserved. | Insurance