Traveling to China for the Olympics? Protect Yourself With International Travel Insurance

INDIANAPOLIS, IN -- Inside INdiana Business -- June 27, 2008 -- Indiana has long-since had connections with China: delegations, public-private partnerships and corporate expansions. We now have four Olympic divers who will compete in Beijing in August. While the Olympics are an exciting time for athletes, sports enthusiasts and business travelers alike, U.S. citizens should be aware of the heightened risks and costs associated with a trip to China.

The U.S. Department of State and the Centers for Disease Control & Prevention have issued various travel warnings and health alerts for individuals attending the 2008 Olympic Games. For example, there are several current health risks and disease outbreaks, from avian flu and Hepatitis A & B to severe air pollution. Unstable buildings and roads also are prevalent, as a result of the recent earthquake. Terrorists from around the world have been threatening the Olympics for months. Political uprisings are a regular occurrence, and in April, the Chinese government started restricting visas which could strand travelers. Unfortunately, these issues are only compounded by the increased security precautions that accompany any Olympic Games.

Does this mean you shouldn't travel to China to cheer on Hoosier Olympic athletes? Not at all. Just make sure you take the necessary steps to protect yourself.

On average, Olympic enthusiasts will spend $4,000 - $20,000 for their Olympics trip (not including airfare). This covers event tickets, hotel, food and ground transportation. Yet this cost does not factor in the high price associated with potential incidents that could occur during the trip, such as accidents, injuries, health scares, political unrest, natural disasters or legal troubles.

The best protection for international travelers is to purchase a comprehensive trip cancellation and travel medical insurance policy. It covers extreme circumstances such as hospitalizations, surgeries, medical evacuations, bail bonds and political evacuation and repatriation. This type of policy also includes trip cancellation and disruption, lost luggage and lost Olympics tickets.

Some insurance companies - like mine - have introduced packages built specifically for Olympics fans and vendors. In addition to providing the above standard comprehensive coverage, we have contracted directly with seven hospitals in Beijing and Shanghai, set up a 24/7 multi-lingual phone line and developed a network of thousands of doctors and pharmacies. Plus, we will provide travelers with a detailed country profile about China prior to their departure - a standard benefit for all of our policy holders. This report includes current currency rates, political status, health alerts, travel restrictions, cultural information, security threats and more.

For a small percentage of the cost to travel to the Olympics, fans and vendors can protect themselves and their families. Trip cancellation and travel medical insurance are standard purchases for travelers in other countries; it's just starting to catch on among U.S. citizens traveling abroad. Due to the compound dangers in China, Olympics enthusiasts shouldn't think twice about making this modest investment. But whether you're traveling for leisure to watch the Olympics, preparing for a future international business trip or planning a relaxing family trip abroad, seek a travel medical insurance and trip cancellation package that's right for you. This is the best way to protect yourself - regardless of business or pleasure.

About the Author
Jim Krampen is co-founder, principal and executive officer of Seven Corners, a privately held insurance company headquartered in Carmel, Ind. Mr. Krampen brings nearly 20 years of underwriting and reinsurance experience to his role at Seven Corners. His knowledge and successful track record of underwriting custom group insurance programs, expatriate medical insurance programs and private label expatriate plans has helped Seven Corners become one of the industry's most experienced travel health insurance providers. The company serves business, government, leisure, student, and missionary/volunteer travelers, and offers an extensive selection of international medical and travel insurance policies to U.S. citizens traveling overseas or foreign nationals visiting the United States. Seven Corners has thousands of policy holders and a worldwide network of 30,000 agents. The company created and maintains the industry's most comprehensive network of international health care providers that includes thousands of doctors, pharmacies and hospitals around the globe.

Source:
InsideINdianaBusiness.com
June 27, 2008