Travel accident insurance provides protection to those traveling who experience an accident, such as accidental death, loss of sight and dismemberment, while traveling. Travelers often don’t want to consider such tragedies when planning a trip, but including coverage in your travel insurance policy is essential.
How Travel Accidental Insurance Works
Travel accident insurance works similarly to life insurance policies, such as naming a beneficiary upon purchase of travel insurance. The named beneficiary would receive the benefit in the event of the travelers death or dismembering injury that could happen while traveling. Keep in mind that benefits paid by the travel insurance company would be in addition to any standing life insurance policy the traveler already has in place.
Determining Travel Accident Insurance Needed
When considering to include travel accident insurance in your travel insurance policy, be sure to take into account a fee that is appropriate for your family and needs. Most insurance companies have various amounts of coverage. There is various benefits for travelers who are planning to participate in hazardous activities, such as sporting or adventurous activities.
Types of Travel Accident Insurance Coverage
There are various types of travel accident insurance options, including flight accidents, common carrier and 24-hour accidental death or dismemberment coverage. Flight accidental insurance covers an incident that happens while boarding or traveling on an airplane. Common carrier policies include benefits for traveling on a cruise, airplane or train. And, 24-hour accidental death or dismemberment covers any accident during the length of your trip, regardless of how you are traveling. Additional coverage for accidental war risk is also an option when traveling to countries that are considered high risk.
Flight-Only Travel Accident Insurance
Flight-only travel accident insurance provides coverage for an injury or death sustained while boarding, riding or exiting from an airplane. Coverage will be paid at the largest amount if the accidents results in the death, severance of a limb, loss of eyesight, speech or hearing by the traveler.
How Benefits are Paid
Typically, most travel accident insurance policies will include death benefits to be paid at 100 percent of the policy limit. Dismemberment benefits are only paid out to the beneficiary at a percentage, commonly 50 percent, for one loss. More losses equates to a higher benefit paid.
Exclusions from Travel Accident Insurance
Emergency medical evacuations or repatriation of the traveler who is insured are not covered under travel accident insurance. However, most travel insurance policies have additional benefits for such. Review your policy to determine if evacuations and repatriations are covered during your trip.
Although travelers do not like to think about the death or other tragedy while planning a trip, travel accident insurance is important to protect loved ones and any high expenses related to an unexpected disaster. Travel accident insurance can provide protection for accidents that occur while traveling.