Standard Bank Travel Insurance is a travel insurance product that is automatically activated when purchasing return tickets for both domestic and international trips. Standard Bank Credit Card holders can get up to 90 days of travel insurance with this product.
The Standard Bank Travel Insurance is only available to individuals under the age of 76. The product can only be automatically accessed or purchased by or for those aged 3 months to 75 years.
The insurance plan provides coverage for medical emergencies that range from R70,000.00 to R1 million. An optional travel insurance is also available and provides coverage that ranges from R5 million to R11 million for emergency injuries and illnesses.
The Standard Bank Travel Insurance is available in two options, which are discussed further below.
Standard Bank Automatic Travel Insurance
Any person between the ages of 3 months and 75 years who purchases a return travel ticket(s) with a participating Standard Bank card is eligible for automatic travel insurance.
The plan includes the following benefits without the need for a premium when traveling:
- Emergency medical and related expenses
- Accidental death and disability
- Hijacking
- Baggage, money, credit cards, and travel check fraud and baggage delay
- Personal liability
- The amount of coverage provided by automatic travel insurance is determined by the Standard Bank card used to purchase a ticket. The following section discusses the coverage amounts and benefits for the various Standard Bank cards.
Blue, Achiever, and Bluebean Mastercard and Visa Cards
While traveling locally, the automatic travel insurance does not cover injury, illness, inpatient, and outpatient treatments. R10,000.00 is set aside for coffin expenses.
Emergency medical expenses are covered by travel insurance for international travel. Injuries are covered for R150,000.00, and illnesses for R150,000.00. The plan covers inpatient and outpatient expenses for R2,000.00 each and requires an excess fee.
Medical evaluation, repatriation, and transportation are all included for both domestic and international travel. Accidental death and disability in flight is covered for R150,000.00 for domestic travel and R450,000.00 for international travel.
International travelers can receive R3,000.00 in hospital cash, with a maximum of 15 days of R200.00 cash per day while in the hospital. Local travel does not have a cash benefit from the hospital.
When traveling, the Blue, Achiever, and Bluebean Mastercard and Visa cards also provide the following benefits:
- Cash assistance
- Consular referral
- Emergency travel and accommodation arrangements
- Premature return in case of death or imminent death of a relative or business associate
- Legal assistance abroad
- Replacement of lost travel documents
- 24-hour medical emergency and assistance over the telephone
- Gold Corporate and Travel Agent Cards
Gold Corporate and Travel Agent cards are eligible for a variety of benefits related to automatic travel insurance. For local travel, emergency medical coverage is available, and injuries are covered for R70,000.00.
Local travel does not cover illnesses, inpatient, and outpatient medical emergencies. International travel has R2,000.00 inpatient and outpatient cover, and claiming on these emergency medical expenses requires an excess fee.
R1 million is covered for emergency medical expenses incurred while traveling abroad. Illnesses contracted while abroad are also covered for R1 million.
Coffin expenses are covered by the plan for both local and international journeys with a cover amount of R10,000.00. Other benefits that come with the plan include:
- Cash assistance
- Consular referral
- Emergency travel and accommodation arrangements
- Premature return in case of death or imminent death of a relative or business associate
- Legal assistance abroad
- Replacement of lost travel documents
- 24-hour medical emergency and assistance over the telephone
The plan covers accidental death and disability both locally and abroad if sustained in flight and provides R750,000.00 in coverage. Hospital cash is also available for international travel, with a maximum of R3,000.00 for a daily maximum of R200.00.
Platinum and Titanium Cards
Platinum and Titanium cards offer customized travel insurance for private clients. The plan covers injuries for both domestic and international travel, with local coverage of R150,000.00 and international coverage of R1 million.
Illnesses are not covered for domestic travel; however, international travel includes R1 million in illness coverage. International travel also includes coverage for inpatient and outpatient expenses up to R2,000.00 per claim.
The plan covers auxiliary costs incurred during emergency medical procedures up to the actual expenses. These include the return of children, a family member’s visit, and the return of a travel companion.
The plan includes additional benefits that can be claimed when traveling locally or internationally, including:
- Cash assistance
- Consular referral
- Emergency travel and accommodation arrangements
- Premature return in case of death or imminent death of a relative or business associate
- Legal assistance abroad
- Replacement of lost travel documents
- 24-hour medical emergency and assistance over the telephone
Only international travelers have access to hospital cash, with a maximum cover of R5,000.00. While admitted to a hospital in another country, hospital cash pays R250 per day for a maximum of 20 days.
Personal liability is also covered as part of the plan, with R2.5 million in coverage for bodily injury and material damage. The plan also covers accidental death and disability.
Optional Travel Insurance
Optional travel insurance costs a premium and provides injury and illness coverage ranging from R5 million to R11 million. Terrorism-related emergency medical and related expenses are also covered up to R2.5 million.
Standard Bank’s optional travel insurance covers the following:
Emergency medical and related expenses, accidental death and disability, motor hijack extension, baggage, money, credit cards & traveller’s cheque fraud, and baggage delay, travel delay and missed connection, personal liability, cancellation and curtailment, ticket upgrade, cattery and kennels, natural disaster, identity theft, and end supplier insolvency are all covered by Standard Bank’s optional travel insurance.
There are three options for optional travel insurance, each with a fixed premium. We will discuss each option and what each option covers, including the extent of the cover below.
Option 1
The first option for optional travel insurance provides the fewest benefits of the three available. The option comes with a premium of R690 for trips ranging from 1 to 30 days.
Trips ranging from 30 to 90 days have a premium of R1,140.00. Those who want to travel for 91 to 180 days must pay a premium of R2,420.00 to access the plan’s benefits.
The plan covers emergency medical expenses, injuries, and illnesses sustained while traveling internationally, and they are insured for R5 million. The plan also covers inpatient and outpatient medical treatments.
Since the plan does not provide in-hospital cash benefits, one can find an alternative cash source while in the hospital. The plan covers pre-existing medical conditions for R100,000.00.
Accidental death and disability while flying are covered for R300,000.00. Accidental death and disability caused by terrorism are also covered for R250,000.00 under the plan.
The plan does not cover motor vehicle hijacking, personal injury, and post-traumatic stress disorder therapy.
The plan covers baggage delays of more than 24 hours for R2,000.00; however, an excess fee of R500.00 is required when filing a claim.
Theft of money, credit cards, and traveler’s cheques are covered for R2,000.00, with an excess payment of R500.00 required when filing a claim.
Baggage theft or damage is also covered by the option for a fee of R7,500.00. Baggage damage or theft has a single item limit of R1,500.00 per claim.
Cancellation and curtailment of the journey is covered up to R10,000.00 with an excess payment of R500.00. Visa protection has a R10,000.00 cover amount, and no excess fee is charged when claiming.
Option 2
Option 2 of the optional travel insurance provides extended coverage than Option 1. The premium for the option starts from R750 for trips lasting 1 to 30 days.
Trips of 30 to 60 days require a premium of R1,230.00 to access the option’s benefits. Those who want to travel for 91 to 180 days can purchase the plan for a premium of R2,660.00.
The plan includes coverage for identity theft, including legal expenses, lost income, legal obligations, and miscellaneous expenses, with a claim limit of R1,000.00.
The cost of an essential upgrade of a conveyance ticket during an international journey is R4,000.00. Furthermore, a natural disaster that necessitates lodging is covered for R2,500.00.
One of the best ways to obtain travel insurance without paying a premium is through Standard Bank Travel Insurance. The automatic coverage requires only the purchase of return travel tickets with a participating card. The cover for automatic travel insurance can be significant, especially for those who use corporate or premium cards.
Option 3
For those seeking a more comprehensive level of protection, Option 3 is the most prestigious optional travel insurance option, with the highest cover amounts. The plan requires an R850.00 premium for trips lasting 1 to 30 days.
Travelers who plan to stay for 30 to 90 days can also purchase the product for R1,330.00. Travelers of 91 to 180 days can also be insured under the plan for an R2,940.00 premium.
Option 3 covers medical emergencies, including injuries and illnesses, for a maximum cover amount of R11 million. Pre-existing medical conditions are also covered under the plan, up to a maximum of R250,000.00.
Medical emergencies caused by terrorism are also covered to the tune of R2,500.000.00. Accidental death and disability due to terrorism are also covered by the plan to a maximum of R750,000.00.
The cover amount for 24-hour accidental death and disability is R2 million. The plan covers accidental death and disability in-flight up to R1 million.
Baggage delay is covered by the plan for a R3,500.00 cover amount and requires an R500.00 excess fee. Theft of money, credit cards, and traveler’s cheques is covered for R3,000.00 and requires an R500.00 excess payment.
Advantages of Standard Bank Travel Insurance
- The automatic travel insurance provides cover for both local and international travel.
- The automatic travel insurance covers many incidents and acts.
- The automatic travel insurance provides high cover amounts for international travel.
- Choosing the optional travel insurance provides additional cover of up to R11 million for medical emergencies.
- The travel insurance covers international travel for up to 90 days.
- Cancellation is a simple process. Travel companions are partially covered by the plan.
Disadvantages of Standard Bank Travel Insurance:
- Individuals over the age of 70 are not covered for cardiac or cardiovascular diseases.
- Individuals over the age of 75 cannot be covered by the plan.
- The optional travel insurance does not have a cooling-off period.
- Local travel does not offer as many benefits as international travel under the automatic travel insurance.
Conclusion
Standard Bank Travel Insurance is one of the best ways to obtain travel insurance without paying a premium. The automatic coverage requires only the purchase of return travel tickets with a participating card. The cover provided by the automatic travel insurance can be significant, especially for those who use corporate or premium cards. However, those seeking a more comprehensive level of protection can opt for the optional travel insurance, which provides coverage of up to R11 million for medical emergencies.
