Our trip has been planned for weeks, if not months. We are ready to drop our work commitments and scoot off on a trip with friends and family. Ideally all will go as planned– a smooth take-off, days of trouble-free fun, and a safe return to home sweet home.
Given the issues of staff shortage after the pandemic period, and the sudden ramping-up of travel, there have been many reports of incidences of erratic flight timings and mishandled luggage.
According to the world’s leading aviation IT provider, SITA, in 2021 4.35 bags per 1000 passengers were mishandled, a jump of 24% from the year before. Of this 71% were delayed, 23% were damaged or pilfered, and 6% were lost or stolen*.
In the event of minor travel incidences (see below for some examples), you may notify your adviser and keep the relevant copies of documents to be submitted to make claims. For more serious events requiring medical evacuation, it’s best to call the insurer’s assist hotline.
1. Damaged baggage
Insurers may not pay the full sum to replace the bag, they may settle for a percentage of what is claimed.
What documents to keep:
· Flight itinerary, boarding pass or passport stamp which shows the date of departure and return to Singapore
· Damage report and/or acknowledgement slip from the airport or airline with the cause of damage (if any)
· Clear photographs of the damaged bag. If the bag has a known brand, this should be shown
2. Baggage delay
Insurers usually pay a sum for every 6 hours of delay.
What documents to keep:
· Flight itinerary, boarding pass or passport stamp which shows the date of departure and return to Singapore
· Delay report and/or acknowledgement slip from the airport or travel operator with the cause and length of delay
3. Travel delay
Insurers pay a sum of money for every 6 hours of delay.
What documents to keep:
· Scheduled and revised flight itinerary, boarding pass or passport stamp which shows the date of departure and return to Singapore
· Delay report and/or acknowledgement slip from the airport or travel operator with the cause and length of delay
4. Outpatient medical expenses
Most of the medical expenses I have claimed are for outpatient treatment, whether they were incurred overseas or upon return to Singapore.
If treatment has not been sought overseas first, then medical treatment would have to be sought within a few days of returning to Singapore. The upper limits for claim would also be lower than that for overseas medical expenses.
What documents to keep:
· Flight itinerary, boarding pass or passport stamp which shows the date of departure and return to Singapore
· GP referral to a Specialist (for some insurers)
· Original medical bills and receipts
*2022 baggage IT insights by SITA
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
🚥🚥I lead a team of fun-loving consultants who want to give the best advice to their clients. We are tight-knit & support each other through the ups and downs of managing our business. If like me, talking to others about their dreams and their money gives you the buzz, then message me. We’ll meet up for a chat about the work that I do. You could join my team and do this too.
📚📚Straight out of uni in the mid-1990s, I sought a career that connects with people and has flexible working hours.
⏰⏳This led me to join Prudential, where after a decade, I moved to Financial Alliance. Here, we have an array of financial service partners, which presents my clients with more choices for insurance and investments.
👨👩👦👦👨👩👦👦In my personal life, I have 2 school-going boys. It will be awhile before they fly the nest. So I bide my time setting aside & growing my assets, while I dream of the mountains I will climb and the causes I will champion, without consideration of work the Monday after.
I’d like to enable my clients to have a retirement dream too– where they live their last chapter with financial freedom & dignity.
If you are now at the peak of your life and career and are looking for sound financial ideas. Whatever you dream of, wherever you want to go, I will help you plan to get there—financially.
With over 20 years of experience and the right ideas to usher you through your unique life situations, I am able to craft a financial plan that works for you. Please drop me a message.
