Price should not be the only determining factor in purchasing travel plans, advised Ms Annie Chua, NTUC Income‘s vice-president and head of personal lines.
“(Travellers) should look at the types of benefits and the coverage which are most important and relevant to them, as well as consider any exclusions and claim limits for each benefit,” she said.
A good example is coverage for pre-existing medical conditions, which include common ailments such as hypertension, asthma, high cholesterol and eczema. These are typically not covered in travel plans and if travellers without this cover require treatment overseas, the cost is usually very high, Ms Chua added.
Mr Derek Low, Liberty Insurance‘s executive vice-president for personal lines, suggested that customers ask themselves if the policy is comprehensive enough, given the purpose of the trip.
For example, if a person is planning adventurous or dangerous activities, such as white-water rafting or mountain climbing, it is important to check whether the travel insurance covers such activities.
For unforeseen political threats, Sompo Insurance Singapore’s chief distribution officer Koh Yen Yen suggested that customers look for plans that offer full terrorism cover that includes chemical, nuclear and biological terrorism.
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