It’s no secret that travel insurance is one thing you don’t want to cheap out on—as free travel insurance typically isn’t enough. Let’s take this 61-year-old man who saved $765,000 in medical expenses during a trip to Boca Raton, for example. But spending a large premium at once can be a burden for some, especially as trip-related costs add up during the booking process. That’s why we’re proud to introduce TuGo’s Payment Plan, a flexible payment option that allows travellers with premiums over $1000* to spread the cost of their coverage over a longer period of time.
*Before taxes, purchased no more than 365 days in advance, and at least 30 days before departure date.
How does TuGo’s Payment Plan work?
TuGo’s Payment Plan provides travellers with the flexibility to pay their premiums over two installments: 25% is paid at the time of purchase, and the remaining balance is automatically charged to the credit card on file 7 days before the effective date of the policy.
During the journey of your payment plan, you’ll be notified of successful, upcoming, and failed payments leading up to the effective date of the policy.
Let’s take a look at an example of how the Payment Plan works. If you purchased a policy on January 1 for a trip starting on June 8, this would be your payment schedule:
- On January 1, 25% of your premium is paid.
- On June 1 (7 days before the effective date), the remaining balance is automatically charged to your credit card on file.
- On June 8, your policy takes effect and coverage begins.
How do I pay for my remaining balance before my payment due date?
To pay for your remaining balance in advance, you can use myTuGo or contact your broker to complete the final payment.
Unfamiliar with myTuGo? Check it out today!
How do I know if I’m eligible?
Travellers with one of the following policies with a premium of $1000 or more can take advantage of TuGo’s flexible Payment Plan:
- Emergency Medical Insurance**
- Visitors to Canada Insurance
- Student Insurance
**Including Non-Medical plans except for Trip Cancellation and any plans containing Trip Cancellation. TuGo programs with limited distribution (Explorer, Optimum, Employee & Family and group policy certificates) are excluded.
Want to learn more? Head over to our Payment Plan FAQs.
TuGo aims to continue offering travellers suitable options to meet their individual needs, including more financial flexibility, in hopes to ensure travellers have the protection they need while they’re away from home.
Safe travels,
Suki