FWD Travel Insurance
Asked on 09 Jan 2020
Anyone has done the math yet? What's the minimum amount of days of travel for this to make sense?
I would suggest that you do the maths on the duration and expected number of trips you expect to make, and the region you will be travelling to. You can just make an estimate of the cost to obtain stand alone plans (use gobear.com for a quick quote), and then compare it to an annual plan.
As you are looking for a ballpark figure, I would say that in general, you'd probably need to be travelling for at least 30 or more days in total per year before an annual plan might be worth it. There are also annual plans that have ongoing discounts so look out for those as well, which can reduce your cost.
Generally, annual cover is better for multiple trips.
Sometimes, we may go JB with friends and forget to buy travel insurance also.
Additionally, single trips usually doesnt cover preexisting conditions, so if you treat travel insurance like a normal life/medical plan, better. ie pay for travel insurance through your whole life.
There was a big scare last year where a citizen's
medical repatriation flight for major stroke overseas was delayed because the air ambulance service wanted to check if the guy had preexisting conditions before flying, but it was the weekends, and medical records offices were closed, so they were delayed a few days.
Though lately I saw some amendments to some repatriation clauses to include preexisting, better be safe than sorry.
Few things to consider are the frequency of your trips, the regions you're going to, and length of your trips.
In a thumb rule, if you often go JB for a short getaway, or flying a lot. Then thy getting Annual Plan when they are on sales or through rebate program like ShopBack.
unless you always purchase your flight tickets with your miles card that gives you free travel insurance, then you might be able to take a step back and only buy single plan for bigger trips that you need more coverage
A great tip would be to purchase an annual plan when they're on 40-60% off. You enjoy instant savings, coupled with the fact that you don't always purchase single trip insurance only when there's a discount.
This brings down the number of overseas days to break even signficantly and reduces the chances of you being caught without an insurance if you forget to purchase a single trip insurance.
For most travel insurance policies, it can be divided into three regions - ASEAN, Asia, and Worldwide.
The value of a single trip vs annual trip plan depends on your frequency of travel, as well as on the number of days of travel to each region.
In general, if you travel every month, then it may be more valued to have an annual travel insurance. Otherwise, it really depends on the variables above.
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Allianz Single Trip Bronze Plan
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