Travelex Insurance Services Inc. launched a new line of travel protection plans with an enhanced cancel-for-any-reason (CFAR) upgrade covering up to 75 percent of trip cost, age-band pricing, and additional coverage benefits.
Travelex’s previous travel protection plans were retired on May 31, 2023.
“We really took some time and put a lot of thought into these products as we’ve designed them,” said Shannon Lofdahl, president and CEO at Travelex. “The resulting plans offer enhanced benefits, coverages and age-band pricing. We’re responding to the coverage and benefits our partners and travelers want — there’s only good news here.”
Travelex’s Travel Select plan’s CFAR upgrade now covers up to 75 percent of the trip cost if travelers have to cancel their trips — although they did say that the “coverage pricing [is] based on age and trip cost.”
The Travel Select plan provides new trip-cancellation and trip-interruption coverage options, including adoption, attending childbirth, cancel for business reasons, organ donor, theft of travel documents, and school extension. There are stipulations for “business reasons” as well, including that it “must be purchased within 15 days of the initial trip deposit date.”
Age-band pricing bases plan rates on each traveler’s risk level.
“I truly believe travel insurance is crucial to travel today,” Lofdahl said. “Travelex is committed to protecting you and your trip investment when the unexpected happens.”