Life Insurance Needs of a World Traveler

If you enjoy exploring different cultures and spending your time learning different languages, there's a good chance that one of your passions in life is traveling around the world. As a frequent world traveler, do you feel you have the appropriate kind of life insurance coverage when you leave home?

Life Insurance for Travelers

As a responsible adult, you probably already have some life insurance, but is it enough if you travel the highways and byways of the world? Most of us are familiar with the Accidental Death & Dismemberment (AD&D) policy that you can buy when you fly commercial airlines. Contrary to what some people believe, AD&D can cover more than flight accident coverage, and if you travel a lot, flying is only one fraction of your trip.

Look Before You Leap

Before you purchase additional term life insurance, review your current policies to see if you’re covered when traveling to other countries, and if you are, see what policy limitations may apply. Also, don’t forget to check your credit cards to see if they include AD&D life insurance. Verifying your current coverage will help you to figure out how much additional insurance you really need. If you’re having trouble deciphering the details of your current policies, contact your insurance agent to determine if there are coverage gaps or limitations on your current policies.

Cover the Details

For travel purposes, the Insurance Information Institute suggests you find out if your state's insurance department licenses the insurance company in the state in which you live. Regardless of whom you buy the policy from, you'll want to find out how reimbursement is determined. You'll also want to know if the policy has any exclusions (such as accidents due to terrorism, or if you stumble into the middle of a civil war).