When planning international travel, it is important to think beyond your excursions and activities. You may also want to consider whether or not your family has proper coverage in the event of the unexpected while abroad.
International life insurance can help ensure that your family has financial support if something happens to you while traveling abroad.
What Is International Life Insurance?
International life insurance is an insurance plan that gives coverage for individuals traveling overseas. Like domestic life insurance policies, international life insurance provides a lump sum amount in the event of the insured's death.
The difference between the two types of plans is location. Domestic insurance might not offer this coverage for deaths that occur abroad.
Who Needs International Life Insurance?
International travelers such as business travelers, missionaries and others traveling on special assignments may need international life insurance. If the worst happens, international life insurance provides financial protection for the insured travelers' families.
In the event of the insured's death, this coverage protects their family by providing them a source of financial income. Families receive a lump sum amount based on whatever type of coverage the policyholder chose.
How Does International Life Insurance Work?
The policy term period and coverage options for International life insurance are flexible. Travelers can choose to purchase plans that range from one month to ten years, allowing international travelers the ability to insure almost any trip within an extended period.
Plans typically cover deaths caused by injury, illness, or accidents. Deaths caused by pre-existing conditions may not be covered.
Is International Life Insurance Necessary?
It's recommended to purchase an international life insurance policy if your company or domestic life insurance plan doesn't cover travel abroad. Although nothing can replace a loved one, international life insurance ensures that the insured traveler's family is financially secure and protected in the unfortunate case that they die abroad.
Travel Insurance Can Help Fill Life Insurance Gaps
If you are planning to travel abroad, travel medical insurance is coverage that one should definitely consider.
Not only does travel insurance offer coverage for unexpected medical events abroad, it can also provide protection for your family in the form of Accidental Death & Dismemberment insurance. This type of coverage can offer a lump sum payment up to the benefit maximum to your family in the event of your death or serious injury during your travels.
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Still have questions? Reach out to our Customer Success Team with any questions or concerns or compare travel medical insurance options to secure coverage today.
