By: Pedro A. Palicio, MBA, Ph.D.
Universal Wealth Managers LLC
Travel insurance should be an important consideration when you and your family travel abroad since most likely, your local medical insurance won’t cover you outside your country of residence. Since you want to have peace of mind when you travel abroad and not to worry about the “what ifs”, it is highly recommended that you avail yourself of a quality travel insurance.
Most travel insurance plans have three components:
1) A medical component that protects you and your family in case of a serious and unexpected illness or injury, including medical evacuation and repatriation.
2) A nonmedical component that may include reimbursements for flight or baggage delays, baggage or personal property theft or loss, and coverage in case of personal legal liability for property damage or bodily injury.
3) A trip cancellation component that reimburses you if you are unable to travel due to an acute serious illness or injury to you or a close family member.
Among the available plans, some cover you all year round on all your trips abroad, for up to a month per trip, starting at less than $0.97 a day, including all three components explained above. This is a good choice if you travel frequently.
This type of travel insurance is available not only to U.S. residents traveling abroad, but also to foreign nationals traveling outside their country of residence.
For additional information on travel insurance, please visit our website http://www.insurance- investments-uwm.com
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