Peace of Mind The Ul­ti­mate Travel Ne­ces­sity

SLOW Magazine - - Editor's Choice -

If you are plan­ning to go on hol­i­day or visit friends and fam­ily out­side the coun­try dur­ing this Easter hol­i­day pe­riod, re­mem­ber to check the terms of your life pol­icy to en­sure you are ad­e­quately cov­ered while away. Lee Brom­field, CEO of FNB Life, says many con­sumers mis­tak­enly as­sume that by merely tak­ing out travel in­sur­ance, all their in­sur­ance needs will be met.

How­ever, there is more to con­sider be­sides med­i­cal ex­penses, per­sonal li­a­bil­ity, travel de­lays, and lost or stolen lug­gage, among other in­sur­able risks while trav­el­ling abroad. You also need to in­sure that your life cover back at home caters for the fi­nan­cial needs of your ben­e­fi­cia­ries in the un­for­tu­nate event that you pass away.

“When trav­el­ling abroad, it is es­sen­tial to en­sure that your life in­surer is aware of where you are go­ing, how long you in­tend to be away for, and what ac­tiv­i­ties you will be tak­ing part in,” Brom­field ad­vises.

Your in­surer will then ad­vise if your hol­i­day plans have an im­pact on your pol­icy, en­abling you to make spe­cial ar­range­ments if nec­es­sary, such as tak­ing out ad­di­tional travel in­sur­ance to cover the gap in your plan.

“If you are trav­el­ling to a rel­a­tively safe des­ti­na­tion for a pe­riod of less than 90 days, and aren’t go­ing to be in­volved in dan­ger­ous ac­tiv­i­ties, many life in­sur­ers will con­tinue to cover you with­out reser­va­tion. The terms may vary de­pend­ing from in­surer to in­surer, so it is rec­om­mended to no­tify your in­surer,” Brom­field says.

Be­cause FNB In­sur­ance recog­nises that there can be no “one size fits all” ap­proach to life in­sur­ance, the plans of­fered to you pro­vide cover that will cater for dif­fer­ent needs at dif­fer­ent stages of your life, while host­ing a va­ri­ety of ben­e­fits. Liv­ing up to its slo­gan “How can we help you?”, FNB Life In­sur­ance gives you the op­tion to choose be­tween the Life Sim­pli­fied or Life Cus­tomised Life Cover op­tions, pro­vid­ing you with re­ward­ing in­sur­ance cover which al­lows you more time to en­joy your hol­i­day to the full.

Brom­field ad­vises con­sumers to up­date their poli­cies an­nu­ally be­fore go­ing on hol­i­day.

When reviewing your pol­icy, ask your­self th­ese ques­tions: If some­thing tragic were to hap­pen while on hol­i­day, is the amount of money that is go­ing to be paid by my life pol­icy still enough to cater for the fi­nan­cial needs of all my ben­e­fi­cia­ries? Are there any changes that oc­curred through­out the year that im­pacted my fi­nan­cial or in­sur­ance needs, for ex­am­ple, hav­ing a child, get­ting mar­ried, or se­cur­ing a higher pay­ing job? Am I still happy with the ben­e­fi­cia­ries I have nom­i­nated and are their con­tact de­tails still ac­cu­rate?

“Tak­ing a few min­utes of your time to in­form your in­surer about your trav­el­ling ar­range­ments and mak­ing sure that your life pol­icy is prop­erly up­dated be­fore go­ing on hol­i­day will give you peace of mind, know­ing that your loved ones will be fi­nan­cially pro­tected should any­thing hap­pen to you,” Brom­field says.

For more in­for­ma­tion on Life Cover op­tions, visit www.fnb.co.za

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