As the college entrance examination and high school exams come to an end, summer vacation has arrived early, and students are busy planning graduation trips and summer travel. Data from Qunar.com shows that summer travel bookings have quietly begun, with a peak expected in early July. Domestic cities such as Xiamen, Shanghai, Chongqing, Kunming, and Chengdu are among the most popular. At the same time, overseas travel is also gaining popularity. During this time, choosing the right insurance is particularly important.
Four types of insurance for protection
Insurance experts remind: “Online ticket purchasing is becoming increasingly common, but don’t forget to add a layer of insurance when buying tickets. Simply ticking a box and spending a few yuan on a safeguard is a choice that shouldn’t be overlooked for students planning to travel during graduation season.”
So, how do you buy travel insurance? A product design manager at Pacific Insurance told reporters: Currently, Chinese insurance companies offer dozens of insurance clauses related to travel, and travelers can choose combinations based on their needs. Generally, travelers should purchase four types of insurance:
First is passenger accident insurance, which mainly provides risk prevention services for travelers using transportation. Five percent of the cost of train or ferry tickets goes toward insurance. Each policy offers coverage of 20,000 yuan, including 10,000 yuan for accidental medical treatment. The coverage period begins when passengers pass through the gate or board the vehicle or vessel and ends when they exit or disembark.
Second is accommodation guest personal insurance. Each policy costs 1 yuan, starts at midnight on the day of check-in, and lasts for 15 days. It can be renewed after expiration, and multiple policies can be purchased per person. This insurance covers up to 5,000 yuan for guest accidents, 10,000 yuan for heroic acts, and 200 yuan for compensation if personal belongings are accidentally damaged, stolen, or lost.
Third is travel personal accident insurance. For those participating in adventure or thrill-seeking tours, it’s best to purchase travel personal accident insurance. Each policy costs 1 yuan and offers up to 10,000 yuan in coverage, with a maximum of 10 policies per traveler.
Additionally, travel assistance insurance is also very important, especially for outbound travelers. Among these, travel personal accident insurance is a mandatory insurance regulated by national tourism authorities as a departmental rule.
Emergency assistance abroad is key
With rising living standards and evolving consumer attitudes, overseas travel insurance has become essential for business trips or vacations abroad. Whether insurance providers can offer superior services beyond basic coverage is increasingly becoming a key factor in consumers' choices.
“The differences in accidental injury and medical coverage among overseas travel insurance products on the market are minimal. And if the insured already has a life insurance policy, the accidental injury coverage in overseas travel insurance only serves as a supplement,” emphasized a representative from Cathay Life Insurance in an interview with the International Finance News. Emergency assistance services have thus become a crucial consideration for purchasing overseas travel insurance: what kinds of emergency support can insurers and rescue agencies provide in critical situations, how do services differ across products, and which assistance services are more needed abroad.
Take Cathay TravelGuard Accident Protection Plan (Outbound) as an example. In addition to access to high-quality emergency assistance services provided by AXA Assistance, customers can also enjoy comprehensive value-added services such as itinerary consultation and support. In case of emergencies—anytime, anywhere—the rescue agency's 24/7 global emergency assistance network is ready to help, offering over ten types of emergency services including hospitalization and medical aid, such as arranging hospital admission, emergency medical transfer, and advance payment for hospitalization expenses.
Besides Cathay Life Insurance, many domestic insurance companies have launched similar overseas travel insurance products. Reportedly, Ping An Bank credit cards offer free overseas cash withdrawals along with comprehensive traffic accident coverage, effective immediately upon card activation and first use.
Currently, credit cards such as the Ping An Ctrip Credit Card, Ping An Insurance Credit Card, Ping An Auto Owner Card, Ping An Platinum Credit Card, and Ping An Standard Credit Card all include high-coverage traffic accident insurance or full-vehicle occupant accident insurance. Notably, the overseas benefits of the Ping An Platinum Card include not only comprehensive traffic accident protection but also international travel emergency rescue and international medical emergency assistance.
Job hunting challenges require early planning
This year’s graduates are facing the “toughest job market in history.” A financial expert from Manulife Insurance advises: “Whether continuing with further studies or studying abroad, the associated education costs are often relatively high. Therefore, planning for children’s education funds earlier has been receiving increasing attention.”
There are four key principles for planning children’s education funds: First, plan early to fully take advantage of the compounding effect of time. Second, set clear financial goals—determine how much funding your child will need for education at what age, when the funds will be required, and where they will come from. Third, in terms of overall family protection planning, prioritize insuring parents before children. As the family’s economic pillars, both spouses should have adequate coverage for accidents, medical care, critical illnesses, and life insurance. Lastly, select insurance products with waiver of premium clauses. Because children’s insurance often includes a waiver clause stipulating that if the policyholder dies or becomes unable to pay premiums due to certain reasons during the policy term, the unpaid premiums will be waived while the insured’s coverage remains valid—this is a unique advantage not offered by bank deposits, stocks, or funds.
Four types of insurance for protection
Insurance experts remind: “Online ticket purchasing is becoming increasingly common, but don’t forget to add a layer of insurance when buying tickets. Simply ticking a box and spending a few yuan on a safeguard is a choice that shouldn’t be overlooked for students planning to travel during graduation season.”
So, how do you buy travel insurance? A product design manager at Pacific Insurance told reporters: Currently, Chinese insurance companies offer dozens of insurance clauses related to travel, and travelers can choose combinations based on their needs. Generally, travelers should purchase four types of insurance:
First is passenger accident insurance, which mainly provides risk prevention services for travelers using transportation. Five percent of the cost of train or ferry tickets goes toward insurance. Each policy offers coverage of 20,000 yuan, including 10,000 yuan for accidental medical treatment. The coverage period begins when passengers pass through the gate or board the vehicle or vessel and ends when they exit or disembark.
Second is accommodation guest personal insurance. Each policy costs 1 yuan, starts at midnight on the day of check-in, and lasts for 15 days. It can be renewed after expiration, and multiple policies can be purchased per person. This insurance covers up to 5,000 yuan for guest accidents, 10,000 yuan for heroic acts, and 200 yuan for compensation if personal belongings are accidentally damaged, stolen, or lost.
Third is travel personal accident insurance. For those participating in adventure or thrill-seeking tours, it’s best to purchase travel personal accident insurance. Each policy costs 1 yuan and offers up to 10,000 yuan in coverage, with a maximum of 10 policies per traveler.
Additionally, travel assistance insurance is also very important, especially for outbound travelers. Among these, travel personal accident insurance is a mandatory insurance regulated by national tourism authorities as a departmental rule.
Emergency assistance abroad is key
With rising living standards and evolving consumer attitudes, overseas travel insurance has become essential for business trips or vacations abroad. Whether insurance providers can offer superior services beyond basic coverage is increasingly becoming a key factor in consumers' choices.
“The differences in accidental injury and medical coverage among overseas travel insurance products on the market are minimal. And if the insured already has a life insurance policy, the accidental injury coverage in overseas travel insurance only serves as a supplement,” emphasized a representative from Cathay Life Insurance in an interview with the International Finance News. Emergency assistance services have thus become a crucial consideration for purchasing overseas travel insurance: what kinds of emergency support can insurers and rescue agencies provide in critical situations, how do services differ across products, and which assistance services are more needed abroad.
Take Cathay TravelGuard Accident Protection Plan (Outbound) as an example. In addition to access to high-quality emergency assistance services provided by AXA Assistance, customers can also enjoy comprehensive value-added services such as itinerary consultation and support. In case of emergencies—anytime, anywhere—the rescue agency's 24/7 global emergency assistance network is ready to help, offering over ten types of emergency services including hospitalization and medical aid, such as arranging hospital admission, emergency medical transfer, and advance payment for hospitalization expenses.
Besides Cathay Life Insurance, many domestic insurance companies have launched similar overseas travel insurance products. Reportedly, Ping An Bank credit cards offer free overseas cash withdrawals along with comprehensive traffic accident coverage, effective immediately upon card activation and first use.
Currently, credit cards such as the Ping An Ctrip Credit Card, Ping An Insurance Credit Card, Ping An Auto Owner Card, Ping An Platinum Credit Card, and Ping An Standard Credit Card all include high-coverage traffic accident insurance or full-vehicle occupant accident insurance. Notably, the overseas benefits of the Ping An Platinum Card include not only comprehensive traffic accident protection but also international travel emergency rescue and international medical emergency assistance.
Job hunting challenges require early planning
This year’s graduates are facing the “toughest job market in history.” A financial expert from Manulife Insurance advises: “Whether continuing with further studies or studying abroad, the associated education costs are often relatively high. Therefore, planning for children’s education funds earlier has been receiving increasing attention.”
There are four key principles for planning children’s education funds: First, plan early to fully take advantage of the compounding effect of time. Second, set clear financial goals—determine how much funding your child will need for education at what age, when the funds will be required, and where they will come from. Third, in terms of overall family protection planning, prioritize insuring parents before children. As the family’s economic pillars, both spouses should have adequate coverage for accidents, medical care, critical illnesses, and life insurance. Lastly, select insurance products with waiver of premium clauses. Because children’s insurance often includes a waiver clause stipulating that if the policyholder dies or becomes unable to pay premiums due to certain reasons during the policy term, the unpaid premiums will be waived while the insured’s coverage remains valid—this is a unique advantage not offered by bank deposits, stocks, or funds.