MoneySmart Encourages Travellers to Have COVID-19 Travel Insurance as a Travel Essential: MoneySmart

2022 JUN 22 (NewsRx) -- By a News Reporter-Staff News Editor at CDC & FDA Daily -- Today’s global travel scene is starting its return to pre-pandemic days, but the COVID-19 virus remains a threat. World Health Organization (WHO) data reported about 1.4 million confirmed cases globally in the third week of May 2022. On the other hand, with more countries opening borders, Singaporeans are displaying strong desires to travel. MoneySmart’s data as of April 2022 showed a transaction volume surge for travel insurance that reached nearly 300% in growth compared to volumes in January 2022, with Thailand being the topmost-searched destination (23%), followed by Malaysia (14%), Australia (11%), Indonesia (10%), and the United States (5%).

Kelvin Ng (???), Head of Advisory at MoneySmart Financial, said, “The COVID-19 pandemic has spotlighted travel insurance and the importance of being adequately insured. The purpose of insurance has not changed: to reduce the financial loss of an individual due to unforeseen events. In terms of travel, trips may not always go according to plan due to COVID-19 related disruption or others. Buying travel insurance provides some degree of certainty and peace of mind.”

MoneySmart recently featured 2 avid travellers who quit their jobs to see the world amidst the pandemic. Adrian Chew (??) and Chia Kim Hui (??) of Pang & Kim Adventure, a travel blogger couple and MoneySmart customers, caught COVID-19 while travelling in Turkey in January this year. Pang and Kim shared, “After our experience getting COVID-19 abroad, we cannot stress enough the importance of purchasing travel insurance with COVID-19 protection for overseas travel - it gives you peace of mind in unexpected situations, covering hospitalisation and medical bills during our Turkey trip. We made a wise decision to purchase insurance, and we encourage everyone to use price comparison websites such as MoneySmart to compare policies that suit your needs.”

Check out this link for the full interview with Pang & Kim, as they share what it was like contracting Covid while in Turkey and how much it cost them financially as an ordeal - https://blog.moneysmart.sg/travel-insurance/getting-covid-overseas/

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