OMAHA, Neb., Nov. 19 Travelex-new-products
OMAHA, Neb., Nov. 19 /PRNewswire/ -- Travelex Insurance Services recently released major additions to their retail travel insurance portfolio with three new industry-leading products - Travel Basic, Travel Select and Travel Max. The initial response from agents has been overwhelmingly positive, confirming the potential for these broader, innovative plans in the marketplace.
"I truly am delighted with the new products. With such a variety of options I can now 'custom fit' the policy to the needs of the individual client," said Syd McMahon, travel specialist for Preferred Travel of Naples Inc. in Naples, Florida. "It takes trip planning to a new level of personal attention. The cost is reasonable and the coverage is fabulous."
The new Travelex insurance products consist of three plans offering differing levels of protection. The three plans are:
- Travel Basic: A great alternative to cruise and tour operator insurance! Offers an essential level of coverage with the most comprehensive benefits in its category, and the only product at this level with bankruptcy and primary coverage included.
- Travel Select: Offers complete travel protection plus customization with five optional "Lifestyle Paks" - Professional, Family, Adventurer, Protector and Athlete/Student.
- Travel Max: The highest level of protection with many extra benefits included such as allowing travelers to choose their hospital of choice, pet coverage and identity theft services.
Each insurance plan also offers a Cancel for Any Reason upgrade and a "Transportation Pak" upgrade consisting of flight accident coverage, roadside assistance and a collision damage waiver for rental vehicles.
"We are pleased to see that Travelex has added new lines to its already popular products. With the addition of the Cancel for Any Reason upgrade, Travelex can now compete with the insurance offered by the cruise lines, while providing more comprehensive coverage," said
Pat Adkinson, manager for Cruise Resort & World Travel Inc. in
Fairfield, Connecticut. "Our families will enjoy the new 'under 18 free' feature on Travel Basic and Travel Select, as well as the Family Pak option. We applaud Travelex for addressing child care arrangements, which are so important to many of today's travelers. And we think our business executives will find the extra coverage in the Professional Pak quite beneficial. Combining all of these options with the excellent service we receive from Travelex will make it difficult to sell anything else."
Other popular plan highlights include:
- Trip Cancellation coverage for delays causing 30% or more of trip to be missed
- $1,000 Trip Interruption coverage available without the purchase of Trip Cancellation
- Waiver of pre-existing conditions available within 30 days of initial trip deposit
- Pre-existing conditions exclusion applies only to travelers
- Primary coverage - reimburses for losses first, before any other insurance
- 12 hour Baggage Delay benefit
- 5 hour Trip Delay benefit
- 3 hour benefit for Missed Cruise Connections due to flight delays
"We really listened to travelers and travel agents to deliver products that would please both parties," said
Michael J. Ambrose, President of Travelex Insurance Services. "We are very happy to see that the response has been so positive and initially indicates a rapid adoption, understanding and appreciation of the new products."
Travel Basic, Travel Select and Travel Max are underwritten by Nationwide Mutual Insurance Company and affiliated companies, rated A+ by A.M. Best. Nationwide is one of the largest insurance and financial services companies in the world and has been in existence for more than 80 years.
Products may not be available in all states.
About Travelex Insurance Services:
Travelex Insurance Services, headquartered in
Omaha Nebraska, is one of the leading travel insurance businesses in
the United States. The company was founded in 1996 when the Travelex Group purchased the travel insurance distribution services of the Mutual of Omaha Companies. Travelex delivers a wide range of travel protection plans through travel agencies and tour operators, in major airports and online at
www.travelexinsurance.com.
About the Travelex Group:
Travelex is the world's foreign exchange and business payments specialist. The group is also one of the world's leading providers of outsourced travel money to banks, travel agencies and other financial institutions. The group serves businesses and individual travelers through nearly 700 banks, stores, malls and airports in four regions: the Americas;
United Kingdom;
Europe,
Middle East and
Africa; and
Asia Pacific. For more information, visit
www.travelex.com/us.
SOURCE Travelex Group
