Do I really need to buy travel insurance when my platinum credit card offers medical cover?


To answer this, you first have to check the level of coverage provided by the credit card's travel insurance policy. Read what is covered and excluded. You may discover that the level of coverage offered is less than you would prefer or need during your travels.

When this is the case for you, it's best to buy additional travel insurance that can supplement any existing medical cover, including one that is provided by your platinum credit card. The advantage of a travel insurance policy is that it also provides additional benefits aside from medical cover.

Even if your existing medical cover will pay for a specific claim, you can still use the travel insurance policy you buy to supplement and pay for what can't be paid for by the existing health cover. This includes deductions and co-payments that may be required by the existing health insurance policy.

Even when your platinum credit card provides you not just with medical cover but with travel insurance as well, the limits may not be as high as compared to standard travel insurance.

Also, some of the coverage provided may be payable only if you use the same credit card to purchase for your travel needs. For example, lost baggage and trip cancellation benefits may only be payable if the flight used was bought using the credit card.

In sum, this could mean that the medical cover provided by your platinum credit card may not be comprehensive enough to meet your travel insurance needs. The danger is that you may feel secure, knowing that you already have medical cover, only to discover that this excludes a lot of things. For example, most medical coverage provided by the credit card company may not pay for emergency medical evacuation and other expenses related to medical emergencies.

When you have a more comprehensive travel insurance policy in your pocket, you have more peace of mind, knowing that you are protected from a lot of things that can happen during the trip. You can then focus your mind on making the most of the trip and making unforgettable memories.

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