You are probably no stranger to having traditional travel insurance when you go on trips, but what about life insurance? There is actually a type of travel life insurance policy that protects you and your loved ones should a fatality occur while on your trip. This is rare but it still help to have some type of protection. Not all types of trips really necessitate the need for this type of policy, but checking on the rates and factoring in where you are going and the risks involved, can be worthwhile.
About Travel Life Insurance
A travel life insurance is similar to a regular life insurance policy, but protects accidents or death that might occur when you are on a personal or business trip. Not all regular life insurance policies protect against things happening abroad, which is where the need for this specialty policy comes in to play. A travel life insurance policy often covers against accidental death occurring while on your trip, as well as a dismemberment causing a severe disability. A beneficiary is chosen for the monetary value of the policy, to help pay things like funeral costs and final expenses. The actual benefits and what is covered under a travel life insurance policy varies depending on the details of the policy.
Domestic or International Travel
Another way travel life insurance plans vary is by what is covered as far as location. Some plans only cover domestic travel, while others will cover international as well. If you take a lot of trips to foreign countries, you should be looking for a life travel insurance policy that is going to cover these long trips. You may also get smaller trip-to-trip policies that you purchase to cover for whatever trip is coming up, rather than holding on to the policy long-term for all future trips.
What About Regular Travel Insurance?
Aside from travel life insurance, which covers against death or body dismemberment, there are other policies you might consider getting for your upcoming trips. Most travel insurance policies cover against last minute changes, such as emergencies, medical coverage, theft, cancellation of flights because of storms, and things of that nature. It lets you get medical care or replace stolen items when you’re traveling, so you don’t have to pay for these things out-of-pocket. It is important that you do your research to find out exactly what is covered. You may also find a travel insurance policy also including some life insurance coverage.
The risk to you or your travel companions is one of the most important things to consider when deciding if you need a travel life insurance policy. If you are traveling somewhere risky or going on a lot of outdoor adventures, it might be a good idea.