Travel is … Simplified!


Travel is … Simplified!

With $927.9 billion in direct travel spending by domestic and international travelers in 2014; chances are your clients’ underwriting may include considerations of international traveling for business, pleasure or a combination of both. Studies show that by 2030, the number of travelers crossing international borders is expected to grow even more, exceeding 1.8 billion per year – increasing the likelihood travel will impact you and your clients.

Over the years, a growing number of states have adopted laws that on some level prohibit insurers from discriminating based on past or future lawful travel experiences. Beyond the well-known states of Florida, New York and California, there are more than a dozen other states, each adopting their own unique version of “no adverse travel action” laws. Additionally, the life insurance carriers all apply their own legal interpretation of each state’s adopted laws when evaluating travel risks.

Life insurance carriers have foreign travel guidelines which outline specific criteria a client must meet for consideration of coverage. The criteria generally includes:

  • Citizenship
  • State of sale
  • Desired amount
  • Plan of insurance
  • Future travel plans
  • Travel in the last 12 months
  • Destination (city/country)
  • Length of stay
  • Purpose of travel
  • Frequency of travel (if a repeated trip)

Along with these guidelines, select carriers have published lists of acceptable foreign travel locations, which commonly are categorized to indicate acceptable/no rating, acceptable/rating or limitation, and unacceptable travel.

While our industry has made significant strides in the area of international travel, any good partner will honestly share that it remains an area of case-by-case consideration. At Ash Brokerage, we leverage our experience, carrier relationships and resources to identify viable solutions based on your client’s individual circumstances and insurance needs. We look forward to assisting you on your next foreign travel case. With Ash Brokerage, travel is … simplified!