Prestige Assurance Plc, has launched Travel Insurance Scheme tagged, â€˜Prestige Insurance Overseas Medical Policyâ€™ (POMP) The company said in a statement thatthe product, has already been approved by the National Insurance Commission (NAICOM).
Designed as a comprehensive package to protect all the eventualities arising while travelling and/or staying outside Nigeria at an affordable premium payable in Naira,the product, according to Prestige Insurance has the significance of paying for medical expenses incurred by the insured persons, outside Nigeria as a direct result of bodily injuries caused or sickness or disease contracted and other benefits.
The scope of insurance covers to the travellers provided by the policy according to the company, is medical expenses and repatriation, personal accident, loss of checked-in baggage, delay of checked-in baggage, loss of passport, personal liability, hijack distress allowance, financial emergency assistance, travel delay, trip cancellation & interruption and bounced booking for hotel and airlines.
“POMP is specially designed to indemnify the legal residents/citizens of Nigeria who are travelling temporarily outside Nigeria for the purpose of business, holiday, employment and study. The policy is available to persons in the age group of six months to 70 years. In case of travel to USA/Canada, medical reports are required for insured persons over 60 years”, said the company.
It said based on the needs of the travelers, the policies are categorised into two segments such as Worldwide Cover and Worldwide Cover excluding USA/Canada. It said the value of insurance cover is paid in USD ranging from USD50,000 to USD500,000 in different categories towards medical expenses and the other benefits are add-ons.
The company further stated that the Corporate Frequent Travellers (CFT) policy, mainly for executives are categorised under a different plan where a blanket insurance cover is given as CFT.
“A special plan is also available for those who travel to Asian countries for a sum insured of USD15,000 towards medical expenses and USD7,500 towards Personal Accident.
It said the product is available to Nigerians who travel for the purpose of education and employment outside the country upto a period of 12 months and subsequent renewals in case of their continued stay.
According to the company,the travellers who go on holidays and business trips can also avail themselves the benefits of the policy upto a period of 180 days and above.
“Prestige Assurance under this policy provides emergency assistance and Claims administrative services through its international business partners (American Assist and Heritage Health Third Party Administrator) to meet the obligations such as cashless medical exigencies and other emergencies arising out of accidental/ unforeseen events.