• 16
  Apr
  2010

• Bridge the Gap with Cruise Insurance

  
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One of the highlights of Bob Manacek’s (name changed) life is the bridge cruise that he went on a few years ago, of which he has fond memories. Without adequate cruise insurance, though, it might as well have turned into a holiday from hell.

Bob was booked on a cruise where contract bridge player Rob Drummond conducted workshops and classes on the game of bridge. The cruise represented a lifelong dream of Bob, to learn and play bridge while traveling the world. It also represented a bulk of Bob’s savings, and he purchased cruise insurance that included trip cancellation and medical insurance.

Most people on the cruise were seniors, and as luck would have it, Bob fell ill at Lisbon, one of the last ports of call. With his cruise insurance, he was able to not only get reimbursed for the treatment he received, he was also able to fly back home on the trip interruption clause of his plan.

One other senior who had purchased insurance from the cruise company realized that the plan was not true insurance; it was only designed to receive credit for a rescheduled cruise in case he missed the cruise, or had to leave it halfway. Cruise insurance sure saved Bob's holiday and his purse!

Travel Tip: Always remember to check the insurance company rating as well as the underwriters of the plan. True insurance plans will always have these two.

• 15
  Apr
  2010

• Major Illnesses May Mean Return of Minors: Travel Insurance Options

  
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Two parents and two kids on vacation (the picture postcard standard) is not the norm anymore. With increasingly busy schedules and the rise of single-parent families, people are trying to get out on vacation in a variety of combinations. When international travel includes children, it is always best to purchase adequate international travel health insurance.

Let’s say Kathy Miller is traveling to France with her grandsons, aged eight and five. Being just over 50, Kathy is reasonably confident of them having a good time, and her daughter plans to join them a week later, in any case.

If Kathy falls ill and needs hospitalization, her grandsons will be left unattended, and this can pose a huge problem, especially in cases when it is not possible for someone to replace the insured immediately. Most travel insurance plans cover the return of unattended minor children to the home country.

The Patriot Executive Group Plan, for example, covers the cost of a one-way economy fare for return to the home country. The plan also provides for the travel of a chaperone, if necessary. The maximum limit for this benefit is $5,000.

Travel Tip: Check with your insurance company what situations call for the travel of a chaperone. Some plans also provide a chaperone by default.

• 14
  Apr
  2010

• Looks Like Travel Insurance, But Isn’t: Travel Protection

  
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Often, when you are looking for travel insurance, you might come across plans that offer “travel protection.” Travel protection plans are usually advertised as travel insurance, but the term can be used to mean a range of coverage plans. Be aware of what exactly you are paying for.

Travel protection plans can mean anything from travel waiver plans, which offer only a rescheduled tour or cruise, to full and complete travel medical insurance. It is very important to know exactly what the plan actually covers.

Many travel protection plans differ from traditional travel insurance plans in that they do not offer any medical benefits. Some travel protection plans are akin to trip cancellation insurance plans, and reimburse the cost of a cancelled trip. The covered reasons for reimbursed can also vary considerably between plans that advertise themselves as travel protection plans.

What confuses the matter further is the fact that some legitimate travel insurance plans also use the term to describe their plans. It is a good idea to check who the underwriter of the plan is, to differentiate certain undefined travel protection plans from traditional travel insurance plans.

Travel tip: Remember that even if a travel protection plan offers similar benefits to a travel insurance plan, the plan is not regulated and there might be no recourse in case the company refuses to honor your claim.

• 13
  Apr
  2010

• Different Flavors of Travel Insurance Look-Alikes: Travel Waiver

  
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When you research travel insurance, you are likely to come across many plans that may seem too good to be true. They probably are. Although travel insurance refers to a particular kind of insurance plan, several times, the term is used to describe a range of travel protection products that are actually not travel insurance.

If you’re booking a cruise, for example, your cruise insurance may actually be a travel waiver plan. What this means is that if you miss your cruise, you will get credit for a future cruise with the same company. Although this sounds like trip cancellation insurance, it differs substantially from cancellation insurance.

Trip cancellation insurance offers financial reimbursement for a cancelled trip for a variety of reasons, but a travel waiver will only provide you with travel credit. One of the important clauses of a travel waiver is actually that the new cruise itinerary should have the same ports of call as the original cruise.

It is best to read the fine print about the covered reasons for receiving the travel waiver benefit, and also about any extra charges that you might incur. Remember that travel waiver plans are not as well regulated as trip cancellation insurance plans, and therefore, are prone to arbitrary decisions by the company offering the waiver.

Travel tip: Always check whether the plan being offered is an insurance plan, or a travel waiver plan. Ask specifically about what is covered by the plan and what is not.