Additional premium
These are premiums over and above the base premium to be paid for Travel Insurance coverage. Typically additional premiums are charged for extreme sports such as kayaking, mountain climbing, snow skiing etc. Additional premiums can also be charged to insure high value goods.

Age limit
Basic cover provides for travel insurance for people under the “Age Limit” which is usually set between 55 and 65 years of age. If outside of these age limits you may be required to provide additional medical information and pay an additional premium.

Annual/Multi-Trip
This type of insurance covers multiple trips taken within a one year period. Typically the policies are sold with a single trip duration limit of 30-120 days per trip.

Beneficiary
The person designated by the insured to receive the funds from your insurance agreement if you are deceased or severly injured. This person is usually a spouse or close relative.

Benefits
The amount payable by the insurance provider to the claimant of the insurance policy.

Co-Insurance or Co-pay
Coinsurance is expressed as a percentage or pair of percentages generally with the insurer’s portion stated first. Coinsurance indicates how an insurer and an insured will share the costs of a bill that exceeds the insurance policy’s deductible up to the policy’s stop loss. Once the insured’s out-of-pocket expenses equal the stop loss the insurer will assume responsibility for 100% of any additional costs.

Contingency
A condition that must be met before the travel insurance contract is considered legally binding, or a condition that makes the terms of the contract null and void.

Contract
A legally binding agreement between the travel insurance provider and and you. The contract spells out all the terms and conditions of the policy, this should be read thoroughly.

Deductible
Also known as an Excess. This is the amount that must be paid by the policy holder prior to the insurance provider starting to pay.

Duty of Disclosure
You must disclose any thing that would materially affect the insurance policy. For example if you have a particular medical condition, then it must be disclosed.

Emergency Benefits
These are benefits provided for in an emergency, and may be evacuation expenses. Typically these expenses are very expensive and it is well worth ensuring your travel insurance policy has strong coverage in this area.

Excess
Also known as Deductible. This is the amount that must be paid by the policy holder prior to the insurance provider starting to pay.

Exclusions
These are expenses that the Travel Insurance provider will not pay for. Examples include expenses resulting from illegal drug use, conditions which existed prior to the purchase of the insurance, participation in various extreme sports. You must check your policy to ensure the activities you wish to participate in whilst travelling are covered.

Expenses
These are expenses that the Travel Insurance provider will pay for.

Family Plans
These are travel insurance policies designed to cover an entire family. There is usually a discount when purchasing a family travel insurance policy.

Hazardous Sports & Activities Coverage
Coverage for hazardous sports and activities is usually explicitly excluded from travel insurance policies. You are typically able to pay an additional premium to cover the risk of participating in such activities.

Indemnity
Money received from a travel insurance claim. This should be enough to cover your expenses and ensure you are in no worse financial or physical condition than prior to your injury from your travels.

Individual Plans
Travel insurance policy designed to cover only one person.

Insured
The person or persons covered by the insurance policy

Insurer
The company providing the travel insurance policy.

Maximum Policy Coverage
This is the maximum amount the travel insurance provider will pay for covered expenses. This may be an overall maximum or a maximum placed on each accident, illness or incident.

Period of insurance
The time period you are covered by your travel insurance policy. Only claims resulting from incidents within this time period will be covered.

Personal liability
An amount that is payable to another person as a result of an incident caused by you.

Policy holder
The person who takes out the travel insurance policy. This is the person who will collect on any claim made or will nominate the beneficiary of the policy.

Pre-existing Conditions
Medical conditions that existed prior to the travel insurance policy being taken out.

Premiums
This is the amount payable to purchase the travel insurance policy. Premiums must be paid in advance, usually on an annual or per trip basis.

Primary Coverage
Primary coverage plans provide coverage without regard to any other insurance or coverage the plan holder may have.

Secondary Coverage
Secondary coverage plans require plan holders to have primary coverage, and the secondary coverage only covers those expenses not already covered by the primary coverage plan.

Single-Trip
Only one trip is covered by the travel insurance policy.

Third party
Someone making a claim to your travel insurance policy due to a personal liability against them.

Travel insurance
Insurance coverage specifically for those intending to travel.