Travel Insurance GlossaryPlease find below our alphabetically organised Travel Insurance Glossary. Annual/Multi-Trip - Annual or multi-trip plans cover all trips taken within a year (often with a maximum duration of 30-120 days per trip). Beneficiary - The person or persons designated by the insured to receive the proceeds of an insurance policy upon the death of the insured. Benefits - The amount payable by the insurance provider to a claimant, assignee or beneficiary under each policy. Excess Waiver - The excess is the first amount of each claim which is payable by you. Some insurers allow you to waive this excess by paying a small additional premium. Hazardous Activity - Any activity, sporting or otherwise, which in the insurer's opinion is likely to increase the risk of a claim will be defined as hazardous. Definitions will vary from insurer to insurer - we recommend you check before purchasing the policy. Pre-existing Medical Exclusion - Most insurers exclude cover for medical conditions that existed at the time the policy was purchased. A few insurers will provide cover subject to an increased excess for claims relating to the medical condition. If you are pregnant, check this section carefully. Money Back Guarantee - The Money Back Guarantee varies from insurer to insurer, but is typically 10 to 14 days. Single Trip - This is a single trip beginning and ending in the UK. Most insurers impose a maximum length of trip. Winter Sports Cover - Winter sports include those sports normally carried out on ice or snow such as skiing, snowboarding and ice-skating. Some insurers will provide limited cover e.g. on-piste skiing only, while others may permit off-piste skiing. We recommend you check the level of cover before purchasing the policy. |