What is a ‘ticket protector’ plan and who offers them?

July 19, 2011 By Leave a Comment
Ticket Protector plansTicket protection plans are a little different than the traditional travel insurance plan. They are designed for budget-minded travelers who don’t want trip cancellation coverage, but want a little extra protection in the form of additional term life and AD&D.

One example of this type of plan is Flight Guard from Travel Guard, which offers flight accident AD&D of $100,000 – $500,000.

That being said, many travel insurance providers throw in a number of other benefits which can make a flight or ticket protection plan look a lot like a post-departure travel insurance plan.

Some of the reasons why fight protector plans are popular include:

  • Premiums are cheap, like life insurance is for many people
  • Your beneficiaries receive the benefit as tax-free money
  • You can get this insurance right up until the day your flight leaves
  • You can’t be turned down for your health or your age

Here is a quick benefit listing for one flight protection plan that includes some extra benefits with the expected term life and AD&D – the Flight Insure Plus plan from Travelex:

Flight Insure Plus

You’ve probably seen the airport kiosks selling similar flight risk plans and touting peace of mind as you travel and peace of mind if you’re gone. We hope you’ll avoid those situations and work with one of the travel insurance providers we review here. At least you’ll know what you’re getting that way.

Protecting Travel Costs as Fuel Prices Rise and Fall

March 31, 2011 By Leave a Comment

Protect flight costs with travel insuranceThe days of low fuel prices are long gone and as fuel and oil prices continue to rise and plummet over global unrest, travelers of all types: families, honeymooners, seniors, volunteers, even business travelers are becoming increasingly aware that they have to protect their travel investment.

Some of the ways travel insurance can protect travel costs against these global shifts include:

  • Travel delay coverage, which provides reimbursement for unexpected travel expenses that occur when your trip’s departure or return is delayed for a covered reason, such as airport closures due to earthquakes or civil unrest.
  • Missed connection coverage, which provides reimbursement for unexpected travel expenses that occur when you’ve missed a flight connection and have to pay additional airline change fees, purchase new tickets or lose a day of pre-paid travel for a covered reason.
  • Trip cancellation coverage, which provides reimbursement for pre-paid, non refundable travel expenses when you have to cancel your trip for a covered reason.
  • Trip interruption coverage, which provides reimbursement for the unused trip costs and additional travel expenses if you have to end your trip and return home – whether you return to complete your trip or not.

The coverage provided by each travel plan varies, so it’s important to do your research. Compare plan coverage and benefits using the reviews here and a comparison engine (see How to Compare Quotes with a Travel Insurance Comparison Site).

 

Are There any Age Restrictions for Travel Insurance?

October 20, 2009 By Leave a Comment

age-restrictions-travel-insuranceTraveling anywhere is tricky enough without having to worry about age restrictions, but there are some circumstances when age actually matters, especially in the matters of travel insurance and limitations.

Single Trip
When purchasing single trip travel insurance, you are buying insurance for just a single trip that’s usually relatively short. As a result, the age restrictions are often a bit more lenient. Most companies offer special plans for senior citizens between the ages of 65 and 89 years. Naturally, these policies have higher premiums because a person within this age range is more likely to need medical coverage over that period of time. Single trip insurance typically covers prescriptions and emergency medical services as well as lost luggage.

Travel Medical Insurance
When obtaining travel medical insurance for traveling abroad, there are usually age restrictions as well. These restrictions are usually not that different from single trip insurance policies, and the premium is higher. This kind of insurance covers prescription medications and lost luggage as well as emergency services.

Annual Travel Insurance
When it comes to annual travel insurance, age restrictions are a bit different. As the insured person is planning on staying in a certain place for at least a year, the age restriction is usually a bit lower because younger people are less likely to need medical coverage. For most companies, the cut-off is around 79 years of age. If you are older, it can be tough to find an annual insurance policy.

Rental Car Policies
Most rental car companies have age restrictions. There is usually a minimum age restriction because car companies do not want to rent to people more likely to get into an accident. Typically, they will only rent a car to adults 21 years of age and older. Similarly, there is a maximum age range as well. Most companies do not rent to individuals over 74 years of age because the risk of a car accident is higher.

Flight Accident Insurance
Flight accident insurance has age restrictions although they are very different from company to company. It’s very common for companies to use a traveler’s age to determine the rate of coverage. For instance, the payout for a senior is typically less than that of a middle-aged man because the insurance company weighs many different aspects before issuing a flight accident policy.

Accidental Death & Dismemberment Insurance
Typically, there are no age restrictions when it comes to accidental death and dismemberment insurance. There is generally no fluctuation in rates due to age. This type of coverage is designed to provide for the family of the person who is dismembered or killed in an accident.

Medical Evacuation
Medical evacuation service is basically an insurance covering the cost of airlifting or emergency transport. There are no age restrictions for this kind of insurance; the premium rises with your age. It’s most expensive for people who are 85 years of age and up.

Photo credit: http://www.flickr.com/photos/christopherdale/

Benefits of Flight Accident Insurance

October 8, 2009 By Leave a Comment

flight-accident-insuranceAs air travel becomes more affordable, more and more people are traveling all over the world. The idea of going to a faraway land is no longer far-fetched as there are many budget airlines to make it possible. No matter the carrier, there’s always a certain amount of risk associated with air travel. As such, it’s good to take a look at some of the benefits of flight accident insurance.

The most important benefit you can get from this kind of travel insurance is piece of mind as you lean back in your seat while the plane glides through the clouds, turbulently or not. Sure, it is a proven fact that only a tiny fraction of flights around the world end up accidents, but there’s really no guarantee that your flight will not be in the unfortunate percentage, no matter how small. With flight accident insurance, you will be assured that your beneficiaries will be provided for with the amount of flight accident insurance you purchased should the airplane crash

Instead of a stand-alone flight accident policy, consider a travel insurance package plan. Cancelled flights or lost baggage are also covered by most travel insurance policies. Multi trip travel insurance usually runs for a year and can provide benefits of up to $1,000,000 whether you are flying alone or with family, or for pleasure or business purposes. Cancelled flights can be the result of very bad weather or engine troubles. If you have already bought your ticket for a cancelled flight, a flight accident insurance can certainly reimburse your loss. Also, statistics show that more than 1 million pieces of luggage are lost, delayed, or mishandled every year. Having to go through the tedious process of looking for lost luggage that may actually never be found is reason enough for you to get insurance for your flight. This will help you speed up the process of finding your luggage, if it’s lost, or compensated, if it’s not found by the airline personnel.

The best time to buy flight accident insurance is right about the time you decide to travel. Uncertainty may be an exciting part of life, but it is always a good idea to prepare for the worse, whatever that uncertainty may bring.

Photo credit: http://www.flickr.com/photos/betta_design/

Are you prepared for the worst-case scenerio?

December 4, 2006 By Leave a Comment

This story from The Electric New Paper Singapore details an horrific set of circumstances.

A young woman traveling with a group slipped and fell down some stairs at a train station. Since she was towards the rear of the group, it was not discovered until they were on the train and realized she was not with them.

The group was able to exit the train in time and find their friend. She was taken to a hospital for treatment, where she remained for two months.

Her distraught family flew to Japan to take care of her, where she remained unstable in a coma. After two months, the family paid $90,000 for a medical evacuation flight to take her home for further care.

After two additional months of care, she died last Wednesday. She had just turned 33 years old.

Even though money is of no importance to the family after such a tragedy, there is also no need for the additional stress. Their thoughts should be with each other in this difficult time. In the end, that is what is important.

This story truly illustrates that anything can happen.