The hardest part of buying the travel insurance policy is choosing the best policy for the vacation plan. If you are going to apply for the travel insurance policy then you must know about the types of insurance policy that is offered by the insurance provider. You should not select the type of plan in the rush condition. You have to go through the policy of the plan and can able to predict whether the insurance policy can provide the complete coverage for the trip.
Singapore is the place where you can cross with different types of financial companies. One such type of financial company is the insurance providers. You have to choose the best insurance provider for the best travel insurance Singapore. You should make a comparison between the policy types. In this article, you can grab the details about the types of insurance plans. So keep on reading to know more.
Package plan
When people think of the travel insurance plan, the package plan is top of their list. As the name indicates it will provide the complete coverage for the entire trip. The package plans are in the names of trip insurance, comprehensive travel insurance, trip cancellation insurance or simply travel insurance. MoneyIQ Insurance is one of the leading insurance companies which are offering coverage for cancellations, interruptions, hurricanes, medical emergencies, evacuation, lost, stolen and delayed baggage, etc.
The package plan is one of the common plan types that meets the needs and requirements of the travelers. The main advantage of this plan can provide insurance for trip cancellation also. The package plan is ideal for the following conditions
- Cruises
- Vacation and general travel
- Family trips
- Domestic or foreign travel
Travel medical insurance plan
The travel insurance medical plan is the next type of plan and it provides emergency medical coverage when you are out of the station. The travel medical insurance is also called in the following names travel health insurance, international medical insurance, and international travel insurance. This plan can able to provide coverage for medical emergencies, accidents, emergency evacuations, and repatriation. It can also able to cover comprehensive style benefits, but the advantages are limited. The main focus of this plan type is medical and evacuation coverage. The plan type is ideal for the following conditions.
- The person who is leaving their home country
- Vacations in abroad
- Business trips abroad
- Long-term work or study abroad
- Expats who are all living abroad.
Evacuation plans
The next plan type in a travel insurance policy is the medical evacuation policy and it provides coverage for emergency medical evacuations and international security evacuations. These plans are mainly focusing on emergency evacuations services and take the person to the nearest hospital or return to their home. The following are the ideals for
- Cruise travelers with health coverage
- Vacations in a foreign country
- The persons who are visiting remote locations
- The person who is concerned with emergency medical evacuation costs.
Travel accident plans
The travel accident plans can provide coverage for international accidents and it is the protection for frequent travelers. This type of plan is mainly focused on the coverage for accidental death and dismemberment and the person who is concerned about life is the ideal for the travel accident plans.
Annual travel insurance plan
This is the most common type of travel plan that is available in Singapore. It can able to provide the coverage for an entire’s year worth of trips. So this is also called as the convenient plan. The following are the ideals for annual travel insurance plan
- Frequent travelers
- Business travelers
Specialty plans
As the name indicates, it can provide the coverage for on-off needs like car rental and term life.
The following are the ideals for the specialty plans
- Term life insurance coverage
- Medical tourism coverage
- Car rental collision and road trip coverage
Student travel insurance
This is the next type of plan which is suitable for the students. The students who want to continue their studies abroad can apply for student travel insurance. This will be valid only for a particular duration.
Senior citizen travel insurance
This insurance is categorised with the age group of the people. The people with the age between 61 and 70 can apply for senior citizen travel insurance. The senior citizen travel insurance mostly covers dental treatment and cashless hospitalisation.
Last few words
Now you can get to know about the types of travel insurance plans. You have to choose the best insurance plan according to your vacation plan and coverages. You can also get help from the insurance provider. Make use of this article, to clarify your queries regarding the types of travel insurance plans.
