What is Travel insurance?

Travel insurance is a risk-transfer mechanism which protects you from a loss or losses arising from issues when travelling abroad for business or leisure


Why should I choose Travel insurance?

Travelling, particularly for leisure, is something that many of us enjoy… when everything runs smoothly of course. 

However, there is an inevitability that something beyond your scope of control may go wrong. An example of this is a flight being cancelled due to an airline having fuelling issues or if a passenger falls ill in the course of travelling. This an opportunity for you to benefit from the peace of mind you deserve when travelling.


What exactly will the travel cover me for?

Travel insurance provides protection for many types of events such as:

M edical, financial and other losses incurred whilst travelling outside the country of residence. It covers the Insured travelers for holiday and business purposes in the event of accidents, sickness (death) or loss of property (luggage) including  money, cost of evacuation and repatriation.

It provides cover for travelers up to age of 70years (or up to 85years subject to satisfactory medical examination report)

The policy terms and conditions could be extended to cover: 

  • Trip Cancellation or Curtailments
  • Delayed Departure/Missed Departure
  • Personal Accident / Liability
  • Visit to all Schengen Countries and Worldwide


 How do I affect travel insurance?

  • Follow the designated steps on the insurance section of the Money Matters site
  • Fill the mandatory boxes with the info relevant to your circumstances: 

1) Name (in the order of surname, first name, middle name) of insured person(s) 

2) Address, 

3) email address, 

4) telephone number, 

5) Date of Birth 

6) Occupation, 

7) Gender: Male or Female,

8) Marital Status: Single or Married, 

9) Travel type: Individual, Family or Group, 

10) Purpose of Travel: Vacation, Medical Treatment, Sport, Trainings, or others (please specify), 

11) Passport No., 

12) Name of Next of Kin, 

13) Next of Kin address, 

14) Relationship with Next of kin, 

15) Coverage start date (if planning to make several trips or travel multiple times, select annual), 

16) Coverage end date (if planning to make several trips or travel multiple times, select annual), 

17) travel destination (use the dropdown to select the destination)

18) do you intend to stay in any one country for more than 90 days? 

19) Do you have any pre-existing medical conditions? If yes please disclose, 

20) How did you hear about this travel insurance policy? 

21) Choose (tick the designated box) whether it is a Takaful/Islamic insurance product


  • Choose the best priced quote and select the option at the bottom of the page to move to the final stage


  • Submit payment using the online POS option (a safe and the most convenient payment option) or make contact with our customer service team to conclude policy arrangements



What is the name of the payment that is made to affect cover?

The payment required to affect an insurance policy is called a ‘premium’ in insurance parlance. It is often payable in advance of the insurance policy being affected

How are premiums calculated?

This is calculated based on age, length of stay and destination


What happens in the event of a claim needing to be made?

  • You will have contact and other relevant info/instructions provided from the policy’s inception. These will help you as you make contact with the insurance provider


  • In the event a claim needs to be made, this will be registered by the insurance provider’s customer service rep


  • You’ll be notified whether the claim is successful 


  • Once confirmation has been received that the claim is successful, the amount that the claim is for will be paid out, less the excess fee


Is there any reason why a claim may be unsuccessful?

As long as you are honest about the details required to affect Travel Insurance, and honest in providing all the relevant info when making a claim, there’s no major reason for concern.

Typically, unsuccessful claims arise in the event of a customer committing insurance fraud or violating any terms of her/his insurance policy

Money Matters is a comparison site across many different services. Our wide variety of options listed enable customers to benefit from the best-priced deals available, and vendors to gain from increased business. Make us your choice today!

CONTACT US

Ikeja, Lagos
Nigeria

Phone: (+234) 802 7152 761 , (+234) 906 9387 045 , (WhatsApp) +234 803 096 8197

E-Mail: insurance@moneymatters.com.ng

SUBSCRIBE

© Money Matters 2018. All rights reserved.