Travel Insurance

Many people perceive that they face a higher risk of accidents when they travel overseas. They engage in an unfamiliar routine, travel to unfamiliar places and meet unfamiliar people. They buy travel insurance to cover them for the period that they travel.

The most important coverages for a travel policy are for death, permanent injury and medical expenses due to an accident, and for the cost of evacuation, in the event of a emergency.

The other coverages are:

* loss of baggage
* flight delay and cancellation
* theft or loss of personal belongings

The policy exclude medical expenses due to illness (unless it is directly caused by an accident), or after returning home.

Some policyholders suffered an injury overseas and return home for treatment. Technically, the policy excludes payment for the expenses (as they are incurred in Singapore). Some insurance companies are willing to give an ex gratia payment.

The exact coverages may be different for the various insurance companies. It is important to select an insurer that is fair in handling claims, and does not hide under the fine print.

The premium is charged at a rate (according to the level of benefits) and the period that you are covered, ie while overseas.