Paramount introduces travel protection package

Paramount Life and General Insurance Corp. (Paramount) has forged an alliance with Mapfre Asistencia of Spain to launch a popularly priced travel protection package.

Known as Global Travel Project (GTP), the travel insurance package covers emergency medical care including hospitalization, surgery, medical fees, and pharmaceuticals.

It also has a 24-hour global hotline that can organize services as emergency dental care and medicine delivery, medical referrals, repatriation and emergency expenses in case of death while traveling, emergency payments and even car rentals.

For a mere P380 for a four-day travel coverage, a single insured client is protected up to $20,000. For a family travel coverage for the same number of days, premium is priced at P932 for the same amount of coverage.

For those traveling in Asia, it is P308 for the individual coverage for up to four-days travel, and P755 for the family package.

Paramount president and chief operating officer George T. Tiu said that they had purposely priced it as low as possible so that more Filipinos could avail of travel protection.

For coverage of up to $45,000, the individual traveler need only to add roughly $0.90 for a four-day coverage, Tiu added.

Paramount managing director for non-life operations Edilberto A. Casino, meanwhile, said that GTP was ideal for business travelers, tourists, pilgrims, corporate and even media men.

"And unlike our competitors, Paramount’s GTP is not under a reimbursable program where the client has to pay first then file for reimbursement later. We will pay it when you need it," Casino added.

Paramount will provide emergency evacuation and assistance to a proper health center, or back to the Philippines.

Should the insured be hospitalized for over five days, GTP will cover the additional accomodation and traveling expenses incurred by one immediate family member accompanying the insured. It will also cover care for minors traveling with the insured.

Urgent messages will also be relayed to the family of the insured via SMS or text message, in the event of trip cancellation or delay, and Paramount GTP will cover additional travel expenses. Lost luggage will be compensated for while recovered luggage will be forwarded. – Ted Torres