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INSURANCE CANCELLATION

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The world is going through unprecedented times as COVID-19 rapidly spreads throughout the globe. The travel industries have been hit hard by the pandemic due to closure, cancellations, and restrictions. We have encountered a few inquiries on the cancellation terms of traveling insurance.  

I’m canceling my travels due to COVID-19 can I cancel my policy and get a refund? 

Fear of traveling is usually not a qualified reason for cancellation refund, any causes that result from quarantine due to COVID-19 or any associated sickness, epidemic, or pandemic that lead to losses or trip interruption delay is not considered as an unforeseen event. 

Some insurer will allow a cancellation even for traveling insurance in this unknown situation, however, it must be done under the insurer’s new regulation and rules. For example you can check how ACS is convenient for the traveling insurance and expatriate insurance cancellation and refund. You can look into ACS new page “CORONAVIRUS: TRAVEL AND EXPAT HEALTH INSURANCE IN CASE OF AN EPIDEMIC”

On the link below:

https://www.acs-ami.com/en/insurance-guide/insurance-in-case-of-an-epidemic/

Check directly with your insurer or broker for a clearer explanation on the eligibility of your case. 

If you are thinking to cancel your policy, you will for sure find much information on the insurer webpage directly.

If I postpone my travel, can I modify the date of coverage? 

Changes for traveling dates can typically be modified as long as it is made before your scheduled departure dates. You may contact your insurance provider for assistance as well as making the necessary changes in accordance with your travel plan. 

Overall, cancelling traveling insurance is commonly not possible as payments are done in advance for the full period they are traveling. While some insurer may have loosened their policy restrictions due to the coronavirus nevertheless cancellation will not be covered by the standard policy. 

As an expatriate, can I cancel my expatriate health insurance? 

Expatriate Health Insurance, on the other hand, will allow easier cancellations as payments are not done in full period. Many insurers will request a dated and signed letter of cancellation and they will proceed to terminate your policy as per the requested term date due to the repatriation of many foreigners to their home country. No policy can be suspended during a time span, only a pure cancellation can be granted. When back to their expatriation country, the insured should reapply to an expatriate policy and a new medical form must be submitted. 

Be aware before cancelling your expatriate insurance, as some medical conditions that may be covered actually, won’t be covered anymore after cancellation. At the time of the new application when back to your expatriation country, the old covered pathology will turn as “pre-existing condition” and therefore, can be denied coverage, or increase significantly your premiums to be covered with subprime. 

For further inquiries regarding the cancellation of your insurance policies please do not hesitate to revert to us, we will be here to assist your needs. 

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