Monday, November 03, 2008

Lessons Learned

A few weeks back I got a referral from an agent in Colorado. A buddy of his was planning a ski trip to the South Pole.

We talked about his plans and he told me he needed med evac coverage only. After talking a bit more he opted for an Extreme Sports rider.

The total premium came to $74. (I had recommended a plan with a higher deductible and lower maximum for $46 but he opted for a different plan).

Another option was trip cancellation coverage. If the trip was delayed or cancelled due to circumstances beyond his control (illness or death of a family member, personal illness, issues with the common carrier such as strike or mechanical failure, etc.) he could have been entitled to a refund of up to 100% of the cost of his trip.

He purchased the trip medical alone.

Early this A.M. I had an email from him. He was in Argentina and his trip has been cancelled due to a mechanical failure of the ship. He will be returning to the states on the next plane.

He wanted to know if he had trip cancellation coverage.

For an additional $100 or so he could have secured his investment of several thousand dollars.

Sadly it is too late to purchase that coverage.
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