Visa, AIG introduce travel insurance with COVID-19 coverage

Visa and AIG Philippines Insurance Inc announced the launch of new travel insurance featuring COVID-19 protection, exclusive to Visa Infinite cardholders in the Philippines.

The travel insurance, which will be provided by AIG Philippines Insurance Inc., includes coverage for trip cancellations, travel inconveniences, and medical expenses including COVID-19 medical expenses and allowances.

The complimentary coverage is automatic for all domestic and international trips between December 4 2021 to December 3 2022 paid for using Visa Infinite credit cards issued by Citibank, EastWest, Maybank, and RCBC Bankard. Terms and conditions apply.

A first in the local payment landscape, COVID-19 insurance coverage is generally treated as an exclusion in current practice by insurance providers or charged at a high premium given the risk volatility arising from a new illness. Nonetheless, according to IATF-MEID Resolution No. 79, outbound Filipino travelers are required to present adequate travel and health insurance to cover disruptions and hospitalization in case of Covid-19 infections during their trip.

The Visa Infinite Travel Insurance Protection with COVID-19 coverage offers reimbursements subject to terms and conditions for the following:

• Travel accidents of up to USD 100,000PHP 5,868,550INR 8,474,980EUR 95,230CNY 727,830 for international trips and USD 50,000PHP 2,934,275INR 4,237,490EUR 47,615CNY 363,915 for domestic trips
• Overseas medical expenses including due to Covid-19
• Trip inconveniences including due to Covid-19
• Baggage protection
• Travel assistance

“It gives me great pleasure to introduce this new Visa Infinite Travel Insurance Protection with COVID-19 coverage. Our study shows that luxury travel (46%) and transportation (38%) are the most popular searches online among affluent Filipino holidaymakers. Safety is a top priority for consumers thinking about the return to travel and this insurance will provide Filipinos with added peace of mind knowing they’ll be covered for Covid-19 related expenses,” said Dan Wolbert, Visa Country Manager for The Philippines and Guam.

To know more about The Visa Infinite Covid-19 Travel Insurance Protection, you may visit http://www.aig.com/visa/apac.