Is Travel Insurance Important?

I have traveled to 26 countries for the past 11 years, and thanks to God, I never fall ill on my travels except for a minor gastrointestinal disorder when I was in London (lols).

Falling sick on a foreign land can be very draining physically, emotionally, and financially. This can disrupt your holiday and could lead to more expenses in extending your hotel stay, rebooking your flight, and those yummy foods. Not to mention the hospital and medicine bills.

Not wishing for this to happen, the good thing is my company’s medical insurance has international coverage. Any hospitalization expenses will be reimbursed.

What is a Travel Insurance?

It is a type of insurance covering medical expenses, costs related to trip cancellations or delays, accidents, and other losses incurred while traveling. This is commonly used when traveling internationally but can also be used domestically.

When my elderly parents visited Dubai in September 2019, I made sure to buy travel insurance. That was their second time to have visited Dubai. They had no insurance the first time they came, and even when we traveled to Hong Kong in 2010.

What made me buy insurance was an incident that happened to my colleague, where her dad fell ill while vacationing in Dubai. He had to be transported back to Manila on a stretcher.

A stretcher case onboard a flight needs a special arrangement with an airline. It comes with a hefty price tag as it requires at least six seats on the plane, plus the seats of the attending nurse and the family of the patient. We are talking 700,000 to a million pesos for a stretcher passenger for a flight from Dubai to Manila.

How much is Travel Insurance?

The cost depends on your destination country and the duration of your stay. For my parents, I paid only P2308 per person for a 30-day plan. I took it from www.standard-insurance.com and paid with a credit card online. It was the cheapest insurance available online with medical treatment insurance of up to half a million pesos. It will also compensate for other travel-related events such as loss of travel documents, flight delays/cancellations, loss of baggage, and even has life insurance coverage, too.

My Mom’s Travel Insurance Certificate

Thanks to God, my parents’ holiday in Dubai went well. They had enjoyed a lot their month-long vacation. The policy I bought has given them peace of mind and just focused on enjoying their trip.

Disclaimer

EarnPeso holds no control over your financial fate. It is here as a guide. Exercise prudence in every investment or business you undertake, and success will follow.

I hope this article encourages you to start your own business/investment. Click the links for Business Ideas and Investment Options for more insightful essays.

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Getting a Coupon Taxi in NAIA?

I have been an OFW for a decade now, and NAIA (Ninoy Aquino International Airport) has been my gateway for both domestic and international travel. Having been into all its terminals, I saw public transports’ dire conditions at the country’s main airport.

If you want to get a safe ride at a reasonable price, then you have to hail Grab or the airport Coupon Taxi. I have a separate article, “How to Get a Ride with Grab in NAIA?”

With the frequent and recurring issue about passengers being overcharged by airport taxis, the Coupon Taxi is the best option for a safe airport transfer. NAIA itself commissions this transport; hence we can rely on its credibility. The best thing is that they have fixed rates on all the destinations they serve.

Booking

After claiming your bags and clearing customs, you go to the arrival hall exit gates and outside the terminal, look for the “Coupon Taxi” booth or counter. These are white-coloured cars with blue square tag. You’ll get swarmed with people offering a ride but ignore them and make sure that you deal only with the person at the desk with clear signage saying “Coupon Taxi.”

Fixed Rates

They have a list of destinations with corresponding fares. The government approves this fare; hence it’s reasonable for such a service. Once your destination is identified from the list, you will be issued with a dispatch slip or coupon with the amount to be paid mentioned. You can pay the driver upon arriving at your destination. Note that you have to pay the toll fees when expressways are used.

Destinations

The service is available for a drop off to any point in Luzon. If your destination is only in Metro or Mega Manila, I would advise taking Grab instead of getting a better rate.

I hope this article provides you essential information to improve your finances by saving more money. Check Finance Tips for more insightful essays.

Do you have any questions? I would love to hear from you. Please leave a message in the comment box below or follow and message me on Facebook.

3 Tips to Successfully Manage your Credit Card

I got my very first credit card when I started working in Dubai way back in 2008. I got my very first credit card when I started working in Dubai way back in 2008. I had no idea about the blessings & curse of having one. A year after, when some of my colleagues got into legal troubles because of unpaid credit card dues, I felt thankful to a friend name Cherry who taught me how to manage my credit card effectively.

Here are the tips:

1. Spend within your means.

The credit card is not another source of income. It is a temporary source of cash. In the end, you will still pay for the amount you have used. So when you use your card, think first how you will pay for it. Some people are impulsive buyers. If they have credit cards on hand, they will end up buying stuff off the budget. It would be better not to take your credit card with you all the time.

2. Pay on time the full amount due.

Pay on or before the due date and pay not just the minimum amount but the full amount owing. If you do not pay the total amount, the bank will charge you with late payment fee & interest. Make sure you use the card only up to a level where you can pay on time.

3. For big purchases, apply for installments.

Some banks are offering zero interest on installment payments. But if they charge interest, it would still be lower than the late payment fee and interest charged when you miss payments. When I bought my mom a 45-inch TV using my Citibank credit card, I applied for a three-month easy payment plan.

I have been following the above tips since eight years ago. Never did I missed a payment, so I’ve never been penalized by the bank. I always avail of installment payment whenever I have massive purchases. And I have no problems with credit cards. It has given me free lounge access worldwide, and I earn frequent flyer miles from it.

I know people in Dubai who have been jailed because of credit card misuse. Likewise, I see a lot who have reaped benefits from credit cards. In conclusion, a credit card is a beneficial tool. There is no doubt about it. But you need to control its use, or else it will be a source of your life’s misery.

As I mentioned above, there are blessings that come along with the credit As I mentioned above, some blessings come with the credit card aside from being a temporary source of cash. There are many other benefits that you may enjoy, such as airport lounge access, buy 1 get 1 in Vox Cinemas, airport meet and assist service, and many others depending on the card. Please take the time to read my other article, Get a Free Worldwide Airport Lounge Access.

Disclaimer

EarnPeso holds no control over your financial fate. It is here as a guide. Exercise prudence in every investment or business you undertake, and success will follow.

I hope this article provides you essential information to improve your finances. Check Finance Tips for more insightful essays.

Do you have any questions? I would love to hear from you. Please leave a message in the comment box below or follow and message me on Facebook.