Travel In Peace

Such an ominous title, but as we all know, just because something is unlucky doesn’t mean it won’t happen, and when it does, you want to be protected from its threat to your financial security. Wait, does this sound convoluted? Does this sound like what people of a certain profession would say to you?

Well yes, I suppose I am being a bit like an insurance salesman today.

But I’m sure the issue of travel insurance has cropped up in the minds of every traveller. Should they spend the extra few hundred dollars when the cost of travel is already so high, and the chances of an accident are close to zero? Most people swear that accidents happen the moment you don’t buy insurance, and so buying it is a form of protecting you against harm, literally. I can freely confess, though, that I’ve gone abroad without buying insurance once or twice, and come back safe and sound. That said, it is still advisable to purchase ample protection.

After all, remember, if you meet with an accident overseas, some countries may not accept American currency, said to be the universal currency in the world. Most insurance companies have representatives in other countries that can assist you if anything goes amiss. And not only do they cover health problems, they also cover luggage delays, travel delays, insolvency of the travel agency (which is a nagging concern in the news), loss of personal belongings and they even help to send you home. Not only that, larger companies like NTUC Income cover for kidnap and terrorism. Not that you would think about money if you are the victim of terrorism, but insurance is really something that helps your kinsfolk rather than yourself. That’s why people buy so much life insurance.

Usually travel agencies will arrange insurance for you, which is why they are so useful but charge so much. You should ask around for the best insurance coverage that is cost-effective, since sometimes you may want to get a cheaper service if you don’t need some of the more extensive ones.

But since we are on the topic of insurance, how many policies do you have? Some people buy not even a single policy, whereas others load themselves with so many they can be assured of a vast fortune even after dying a few times. An ethical insurance agent (and don’t worry, there are some out there) will be able to explain the best policies to meet every need, but it is always advisable to start buying them young. Once you are old and have a disease, insurance premiums increase or they may even refuse to cover you anymore. If you’re worried that you’re too healthy and may never see your money again, well, certain insurance policies return the cash to you, with a whole lot of interest, after a fixed number of years. There are also different kinds of payments for policies. One kind asks you to pay a fixed premium every year, and another kind asks for one lump sum in the beginning.

But travel insurance really only requires you to fill in a form, sign your name and hand out the cash. You don’t get it returned in the end though, but you do get a greater peace of mind. Imagine being able to pay money for that.

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