This is an era defined by cross border business and getaways that often finds its solace in exploring destination and countries outside your home country. With a high performing economy and disposable income that gives us wings to indulge in unforgettable experiences, we invest substantial amount of income and time in creating holiday and vacation plans to find reprieve from hectic work schedule and fulfill the leisure needs of self and family.
A travel is often incomplete without insuring the risks involved such as medical emergencies, lost baggage, delayed or cancelled flights and other unforeseen events that can leave a scar on your travel itinerary. Some of these incidents even have the potential to leave you penniless, looking for help. To indemnify self and fellow travellers against such unforeseen events that can spoil the travel plan, insuring it by means of a travel insurance is highly recommended.
Travel insurance is easy to obtain, economical and offers emergency assistance & financial aid to help you to in continuing the journey without any further hinderance or hassles.
Overview of MAPFRE Travel Insurance Philippines
A leading name in the insurance industry, MAPFRE Insular is one the early bird entrants in the general insurance segment offering a plethora of non-life insurance products, catering to the needs of individuals and interest groups. This insurance mammoth is a joint venture between MAPFRE of Spain and Insular Life Assurance Co. Ltd., based in the Philippines.
Its primary offering in the Travel Insurance segment is Travel Assist Insurance which comes with comprehensive benefits to help you confidently deal with unforeseen events during travel. IBERO ASISTENCIA, the sister concern of MAPFRE is the official service provider to administer all related services through its worldwide knitted network. The travel insurance is a comprehensive package consisting of an array of financial, medical and other services to secure your travel needs.
Individuals can choose between two distinct options, based on the destination of travel. They have been described below.
Domestic Travel Insurance: Offered to customers who are travelling within the boundaries of Philippines. Comes with a set of comprehensive and customizable benefits as per the risks and needs of the insured member.
This option is Peso denominated and provides protection for domestic travel for up to 90 days, from the time of availment.
International Travel Insurance: A comprehensive insurance option for people travelling abroad, outside Philippines. It offers benefits through a well knit network chain spread across major countries and regions.
Payable for in US Dollar, it offers protection for all your trips for up to 180 days in any part of the world from the time of availment.
In addition to the above options for individuals, MAPFRE Insular also provides travel insurance solutions for businesses. Offered as a package to employees of corporates and companies, it offers personal travel assistance and coverage around the world with easy access to services through its tie up with leading assistance service provider, IBERO ASISTENCIA.
Features and Benefits of MAPFRE Travel Insurance
All travel insurance packages offered by MAPFRE Insular consists of three components as described in the section that follows. The benefits have been tagged component wise.
Travel Assistance Services
|Medical Expenses & Hospitalization||Covers expenses incurred during hospitalisation due to accident which includes doctor’s fees, medical fees along with surgery and medicines.|
|Repatriation of Mortal Remains||The assistance service provider will make the required arrangements to transport the mortal remains of the insured member. Costs relating to cremation and funeral expenses are also covered.|
|Baggage Delay||In case of delay in baggage arrival for more than 6 hours, the policy pays for the required clothing and toiletries.|
|Trip Cancellation & Curtailment Benefit||Offers reimbursement for related expenses such as pre-paid meal, accommodation & travel in cases where the trip is cancelled or terminated.|
The second component of travel assistance services, financial assistance is extended to cover medical expenses relating to accidental bodily injury or death of a third person. This feature also covers loss or damage incurred to a property due to the negligence of the insured traveller.
Accidental Death or Permanent Disability of the Insured Member
Expenses relating to the insured travelers accidental death or permanent disablement are covered under this plan. Coverage is only valid an hour before the scheduled departure/arrival.
A detailed fine print containing details of specifics of benefits will be provided when you buy a travel insurance from MAPFRE Insular.
This option is open for insured members up to the age of 80 years.
Frequently Asked Questions
- I have subscribed to a travel insurance plan to cover my international travel from MAPFRE Insular to cover my international travel. How do I avail the medical assistance if required?
- Is there a monetary cap on the Travel Assistance Services in terms of limiting the cover?
- How does one make a claim for lost baggage with MAPFRE Insular Travel Insurance?
- Please list the coverage options available under the Domestic Travel Insurance offered by MAPFRE Insular?
- When does the Travel Insurance policy start and end during the course of the journey?
Medical assistance can be availed through network hospitals and medical centers. Bills will be directly settled with the facility under the cashless option. It functions similar to a card issued by an HMO.
Yes. There is a cap in this regard. The insured member can choose the monetary limit in terms of limiting the coverage. The available options are $20K, $45K, $50K & $100K. Based on the limit you choose, the premium amount varies.
Loss of baggage (checked in or deposited) can be claimed by calling the hotline number on (632) 4594727. The claims servicing team will guide you further in this regard. The insured member is also required to report the loss to the Customer Service wing of the airline company.
Domestic Travel Insurance comes with monetary coverage limits of P500K, P1.0 Million and P2.5 Million which covers various benefits listed under Travel Assistance Services.
The policy starts one hour prior to the departure time and ceases an hour after the scheduled or actual time of arrival, whichever is earlier.