Thursday, May 23, 2013

Travel Insurance - Worth to buy?

To Buy or Not to Buy?

Decide after the following Case Study.

Mrs. Tan loves to travel. At 60, she has all the time in the world to visit the places she could only dream about in her youth. Her daughter, Mary, enjoys accompanying her on her trips. As they became seasoned travellers, Mary realised that having an enjoyable trip includes planning for safe trip.

"You can plan as much as you can but there are certain things you just cannot plan for" she said, "Getting help in an unfamiliar place is a challenge I can do without."

Early this year, before leaving on their holiday to Canton, Shanghai and Beijing, Mary took her usual precautions. She told other family members where they were going, informed her credit card company, read all about the places that they were visiting and places to avoid and so on. She also purchase travel insurance for both of them.

On the third day of their tour, Mrs. Tan slipped and fell and fractured her leg. She was immediately hospitalised. After three days, the Tan family decided that it would be better to transfer Mrs. Tan back to Malaysia.

"Luckily we had travel insurance" said Mary. "It was enough to cover all the hospital bills in Shanghai, plus the cost of the medical evacuation." They paid only RM48 each in premiums and were covered for RM300,000 for medical expenses that included follow-up treatment in Malaysia. "I can't imagine how we could have paid for everything on our own." said Mary.

Today, Mrs. Tan is well on the road to recovery and is already planning another trip. "We haven't decided on the destination yet" said Mary. "But it'll be short and relaxed, nothing too taxing, and I certainly will make sure that we have purchased travel insurance for the trip!".

Annual cover for seasoned traveller start at RM230 per year (for Area 1) to RM340 per year (worldwide).