Travel Accident Insurance Explained

Uncertainty is a part of life. What tomorrow holds in store nobody knows. However the risk of uncertainty can be reduced by insurance. This is especially true in case of travel accident insurance. Any experienced traveler can tell about the uncertainties and risks in long distance travel. Accidents, illness, injury, natural calamities, terrorist attacks, flight crashes have become part of everyday life today. What travel accident insurance can do is reduce the financial burden incase of such calamities.

When buying a travel accident insurance policy few things need to be kept in mind.

Bundled policy - Usually travel accident insurance comes bundled with family travel benefits, repatriation of mortal remains in case of death, accidental death and loss of limbs or dismemberments, medical evacuation, global medical insurance, trip cancellation/interruption insurance.

Accidents - Generally accident coverage provides for accidental death in vehicles, flight crashes, loss of organs like hands, legs or eyes etc. For these a principal sum benefit of about 25,000$ to 100,000$ is given by the travel insurance company.

Exclusion - Always read the fine print. Accidental coverage is not provided in case of drunken driving, driving under the influence of narcotic substances etc. Exclusions are also provided for accidents during risky sports like bungee jumping, car racing, scuba diving, white water rafting, flying (except as passenger in regular airliners), gliding, skiing, bike racing, diving, mountaineering, windsurfing etc. that means in case of accidents in these situations the insurance company is not liable to pay any amount to the insured.

Family Insurance - Buying insurance for a group usually a family, works out cheaper than for individuals.

Purchasing Online - Purchasing travel insurance online works out cheaper than through an agent because you do not have to pay to the agent. This usually reduces the cost of the policy between 5% to 20%.

There are other things like deductibles, co-insurance, benefit period etc which need to be studied carefully before purchasing a travel accident insurance policy.

By Oliver Turner
Published: 8/28/2006


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