If you’ve been pouring premiums into your life insurance policy for years, you might think that you’ve more than paid your way to full coverage no matter what; unfortunately, this just isn’t the case. There are limitations and a big one is traveling abroad.
What Happens to My Policy When I Travel Abroad?
Nothing happens to it, per se, but under most circumstances, with most agencies, life insurance policies get left behind at the airport while you take off to some abroad location completely unprotected. We like to think that it waves goodbye, at least; it’s a nice policy, after all… well-mannered.
Moving on.
Is it Possible to be Covered While I Travel?
Of course! Travelling out of the country is, quite simply, a risk that wasn’t initially factored into your policy; it’s a risk that is handled separately, and quite thoroughly, with an International life insurance policy.
What is an International Life Insurance Policy?
The international life insurance policy is a highly customized, itinerary-specific—slightly more complicated—term policy, meant to provide you with the life insurance coverage you need for temporary travel arrangements.
Unfortunately, attempting any kind of cross-comparison between varying agencies is going to be next to impossible, as every agency has a variety of rules, stipulations, limitations, etc. that need to be sorted through with a fine-tooth comb. Obtaining the guidance of a qualified insurance specialist is highly recommended to ensure you’re only buying what you need and that all aspects of your travel arrangements will be covered.
Why is it Important to Seek Out Guidance? Can’t I Window Shop Myself?
Seeking out the guidance of a certified professional will just end up saving you a lot of time, money, hassle, and could quite possibly keep you from violating your policy, rendering it null and void. As mentioned, these policies are very specific to the exact itinerary of your trip—meaning that, if you should detour and have something happen to you, your policy won’t cover you.
Plotting out your itinerary with your certified professional will help ensure that everything goes smoothly, and they might even be able to point out some good money-saving tactics, as well.
Is it Possible that I’m Already Covered Internationally?
It’s possible, yes. Before purchasing an international policy, it’s always a good idea to contact both your current life insurance provider, see if you’re already paying for some form of international coverage—as well as your employer, to see if international coverage is provided in your benefits.
Always take all of these details to a certified insurance specialist, though, all the same. If there are any restrictions or gaps in the coverage that won’t jive with your travel plans, they’ll be able to point them out. Better safe than sorry!
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I have been to 16 countries and it wasn’t until my kids were born that I started to think of insurance when traveling abroad. Then again I never had medical insurance until I got married.