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Life Insurance And Travelling

Life Insurance And Travelling

If you are planning to go for a trip, it is advisable to get a life insurance policy. This is more so if the trip is abroad as things sometimes do not go as planned. Your life insurance policy will provide the much needed peace of mind as you can relax overseas with the thought that the finances of your family will be well covered if you die abroad. Your life insurance policy is affected by whether you are relocating to a foreign country for some years or going for a vacation.

Life insurance companies may rate you in the high risk category, or decline to provide you with insurance, depending on your country of visit. Your life insurance will be affected by your travelling according to the following guide:

Visits to unstable countries

The life insurance companies use the list of the U.S. Department of State Travel Warnings as the main tool to determine the risk involved with your travel plans. The list comprises countries that are considered to be risky for Americans to visit by the state department. Hence, if your application has name of any of the countries as given in the list of the state, within the next 2 to 3 years, no permission will be granted for your policy by most of the companies. If you do not plan to visit these countries in the near future, but have families living abroad, some companies may impose a higher rate, assuming that in future you will be visiting them.

Getting life insurance before going for a visit

If you are planning to visit a country in the unstable list in the next few years, but do not currently hold a life insurance policy, you have few options with you to go for:

  • You could go ahead with your visit to the country, hoping everything runs smoothly. However, if something goes to the contrary, you need to take into account the high cost of shipping back to the U.S. or for making arrangements to bury in Israel.
  • Include accidental death in your travel insurance policy. The downside is that the coverage could be much less compared to a life insurance policy.
  • Lie to the insurance company about your future travel plans. Never do this, because if you die in the overseas country, the insurance company would not pay out claim on your life insurance policy.

Quickhealthinsurance recommends that one should search for quotes on life insurance as early as possible, even if you do not have any plans to visit overseas.

It is your life insurance that will pay for the costs involved in transporting the remains as well as funeral services in the event of your death abroad. There are some companies that help families of the deceased to deal with the difficult process involved with the death of the loved ones abroad. Hence, it is highly imperative to compare the rates of different insurance companies to get the right coverage for you.


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