What is Travel Insurance? Travel insurance, also known in many countries as trip insurance, trip cancellation insurance and trip interruption insurance protects a traveler's vacation cost against cancellation, interruption and delay while also providing medical, lost or damaged property coverage. Unlike sickness, which usually gives warning symptoms so there is time to prepare for emotional and financial consequences, accidents strike without warning.
Life, Medical, and Disability insurance do not adequately compensate for specific losses of limbs, sight, hearing or speech. The accident hazard is sufficiently unique that it merits extra insurance protection. Who should buy Travel Accident Insurance? Business Firms, to offset the loss of a key employee, to compensate families of employees for loss of income due to an accidental death or dismemberment. Professional Firms, to offset the temporary and long term financial aspects of an accidental death or accidental bodily injury to a Principal of the firm. One can have the insurance of hands of surgeons, musicians and athletes against accidental injury that would impair their dexterity. Educators and students while traveling also should buy the Travel Accident Insurance, to protect their parents or their sponsors against loss due to accidents while traveling as well as while living away from home.
Business Travelers or Pleasure Travelers anywhere in the world can also protect themselves with these insurance covers. War Correspondents or military families also need this insurance. Individuals on recreational or sporting trips such as skiing, scuba diving or bungee jumping. Government Agencies and Programs. Fraternal and Religious Activities. Also Individuals and Families should buy Travel Accident Insurance.
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