Finance Sifu

I just enrolled for Overseas Travel Insurance called Smart Traveller Annual policy which was Underwritten by AXA Affin General Insurance Berhad.

Travel Insurance is different compare to your existing insurance such as Personal Accident, Medical Card, Life Insurance, Endowment Plan, etc.

This’s because only Travel Insurance will cover you Before, During and After your oversea trip.

Your existing plan such as Personal Accident, Medical Card, Life Insurance, Endowment Plan, etc.. Won’t gave Protection such as Trip Cancellation i.e You or family member is hospitalised (illness/accident)-before the trip, Flight delays, loss of luggage, left stranded and helpless in oversea due to a financial or natural disaster, Loss Of Personal Money/Travel Document/Credit Card due to robbery, burglary, theft or natural disaster  etc

There have a single plan and annual plan option.

Single plan means you buy the Travel Insurance on per trip basis and the premium cost depend the country that you’ll be visiting and period of travelling in days. It cost average about RM60 for one week traveling in Area 1.

For the annual trip, you only pay one fixed premium cost and cover you for a year with unlimited countries visit. Yes, you have read it right, Unlimited number of trips in a policy year up to 95 days for each trip.

The cost depend on which region(area) you’ll visiting such as:

Area 1:
Travel from Malaysia to Australia, Brunei, Cambodia, China (excluding Mongolia, Nepal & Tibet), Hong Kong, Macau, India, Indonesia, Japan, South Korea, Laos, Myanmar (Burma), New Zealand, Pakistan, Philippines, Singapore, Sri Lanka, Taiwan, Thailand, and Vietnam only.

Area 2 Overseas Excluding USA and Canada:
Travel from Malaysia to Overseas EXCLUDING USA, Canada, Iran, Syria, Belarus, Cuba, Democratic Republic of Congo, North Korea, Somalia, Sudan, South Sudan and Zimbabwe.

Area 3 Overseas Including USA and Canada:
Travel from Malaysia to Overseas EXCLUDING Iran, Syria, Belarus, Cuba, Democratic Republic of Congo, North Korea, Somalia, Sudan, South Sudan, Zimbabwe.

The premium cost for Area 1 is much cheaper than Area 3 due to low travel risk.

I signed up for the Smart Traveller Annual with Gold option which cost me Net RM165.

Since I signup directly(either direct walk-in to their offices or signup Online) with AXA Affin General Insurance Berhad, I save on 25% Insurance Agent Commission. This means if I buy the same plan from any Insurance Agent, the  25% Commission goes into the Insurance Agent pocket.

Not all the insurance companies that gave out the 25% Discount even you buy Online. So do your own research wisely!

How To Decide Whether To Buy Annual Travel Insurance or Purchase Travel Insurance Before Every Trip(Single Plan)?

Since Single plan policy cost about RM60 for a week Overseas Travel,  it make sense to opt for the Annual Travel Insurance should you travel more than 3 times in Overseas(holiday/business trip) within a year period.

All the Travel Insurance policy holder will be given a Medical and Emergency assistance hotline. For AXA, their  24-hour AXA Travel Assistance Hotline is (603) 2142 0399.

Since calling from abroad to this Hotline  is very expensive, it’s advisable to get a local sim card number. You may ask AXA call you direct on your local sim card number or call on reverse charge through international operator anywhere in the world.

Never use your Malaysia phone number to call out when in oversea, to avoid the expensive Roaming charges. One minute of call call easily cost RM10 via prepaid line. Should speak for 10 minutes, it cost you RM100!

Do read your insurance policy  for more details(Benefits and Exclusions) and always ensure you are constantly protected throughout your holidays.

 

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