Executive Summary -
This section of the review looks at the travel insurance benefits that come with the card. Most of these benefits are provided by MasterCard and the ones described below assume you are approved for the World MasterCard version.
As this is the MasterCard version, the travel insurance and other related benefits are also provided by MasterCard. This is what cardholders can expect to get.
Travel Accident Insurance - When you use the card to purchase travel tickets for yourself and your family, you are automatically entitled to a few travel related insurance benefits. One of them is the accident benefit. It covers each individual $200,000 in benefits in the event of a loss of life, sight of both eyes and speech and hearing.
One half of the benefit is payable if you lose one eye, speech or hearing. And a quarter of that amount (ie $50,000) is payable should you lose a thumb and index finger on the same hand.
Baggage Delay and Loss Insurance - If your baggage is delayed, you will be compensated for up to $100 a day for up to three days. This insurance perk only applies per card holder. That means if there are two of you traveling, the maximum amount you can claim is $100 even if you have more baggage.
Trip Cancellation Insurance - Trip cancellation is another insurance feature offered. When you buy a travel ticket (common carrier) with the card, you are entitled to this perk. If your trip has to be cancelled for a "covered reason", you will be reimbursed for up to $1,500 in ticket cost.
The events that allow you to cancel and claim include death, accidental injury, disease, or physical illness of the insured person or an immediate family member of the insured person. That means that a death of an immediate family member is a covered event. You can even make a claim if the common carrier defaults and stops operating. Please note that covered events like disease, or physical illness has to be verified by a physician. You basically need your physician to say you cannot travel on the trip.
Another thing to note is that the insurance is good for trips up to 30 days. That means that if you need to return from a trip early due to any covered event as long as the event was triggered before day 30 of the trip.
Certain events are not covered. For example, pre-existing conditions are not covered. That means if your existing illness acted up, you cannot make a claim. Sports injuries are also not covered events.
MasterCard Global Service - This is a service that is offered by most merchant networks like Visa and American Express. Card members are given a number to call should they need any assistance when they are traveling. For example, if you are in a foreign country and need medical, legal or translation services, MasterCard has a hotline to help you with this.
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