What is Long Term Travel Insurance?
A long term travel insurance policy is any policy up to the maximum trip duration. The single-trip travel insurance policies available can cover up to one year (365-days) in duration. There is an option to buy a second year policy at the end of your first year. This means up to two years of travel insurance. Travellers must return to their home in Australia at the end of the second year policy term, see already overseas.
Benefits of Long Term Travel Insurance
Long term travel insurance may offer extensive coverage that caters to individuals planning to travel abroad for extended periods. This insurance is particularly beneficial for those undertaking gap years, work assignments, or long vacations. It typically includes coverage for overseas medical expenses, personal liability, and loss of personal belongings.
Key Features of Our Year-Long Travel Insurance
When considering one-year travel insurance, travellers need to review what’s covered in the Product Disclosure Statement.
- Emergency Medical Expenses: Covers the costs of medical treatment in the event of an injury or illness during your trip.
- Trip Cancellation: Provides financial protection if you need to cancel your trip due to unforeseen circumstances.
- Baggage Loss or Delay: Offers compensation for lost or delayed luggage, ensuring you are covered for personal belongings.
- Personal Liability: Protects you against legal claims made by third parties for injuries or damages caused during your travels.
Understanding Policy Exclusions
Before selecting your annual travel insurance, it may be vital to be aware of the policy exclusions. Typical exclusions may include pre-existing medical conditions, travel to certain high-risk destinations, or participation in hazardous activities. Reviewing the Product Disclosure Statement (PDS) will give you a detailed understanding of what is covered and what is not, allowing you to choose a plan that fits your travel needs.
Choosing the Right Coverage for Your Needs
Selecting the right long term travel insurance involves assessing your travel habits and potential risks. Consider factors such as your destination, duration of travel, and any activities you plan to engage in. By tailoring your coverage to your specific travel plans, you can ensure you have the necessary protection in place.
Important Considerations
When purchasing your insurance, it’s essential to read the terms and conditions carefully. Each policy may have different limitations and exclusions, which can affect your coverage. Always consult the current Combined Financial Services Guide and Product Disclosure Statement (PDS) for complete details.
Investing in annual travel insurance or long term travel insurance may be available to Australian travellers who are going overseas for one year. By understanding the coverage options and potential exclusions, you can select a policy that suits your travel style and needs. Make sure to familiarize yourself with the Product Disclosure Statement to ensure that you make an informed decision.
Cover is subject to the policy terms, conditions, limitations, and those exclusions set out in the current Combined Financial Services Guide and Product Disclosure Statement (PDS). Read the PDS prior to choosing an overseas travel insurance plan that includes cancellation travel insurance cover.
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