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Insurance glossary A-Z

Allianz Global Assistance - Insurance glossary A-Z

In the world of insurance you will come across numerous specialist terms. The following glossary therefore sets out to explain some of the key concepts. If any points still remain unclear, please contact our Service Centre on +41 44 283 32 22 for more information.

Assistance
Assistance is a service that provides the insured person with immediate, direct assistance in the event of a claim or an emergency. Basically, the purpose of Assistance is to arrange or provide on-the-spot emergency assistance around the clock. Further information on Assistance.

CDW
CDW (Collision Damage Waiver) is excess exclusion insurance for hired vehicles. CDW insurance bears the cost of the excess charged to the vehicle hirer or another insurance policy if a hired vehicle is damaged or stolen. This benefit is included with the following products: Annual Travel Insurance for Individuals, Annual Travel Insurance for Families and Travel Insurance Pass.

Credit and store card blocking service
In the event of the theft, loss or misplacement of bank, post office, credit or store cards, the insured persons may request help and arrange to have the cards in question blocked immediately. This benefit is included with the following products: Annual Travel Insurance for Individuals, Annual Travel Insurance for Families and Travel Cancellation Insurance.

Exceptional expenses
Exceptional expenses refers to the additional costs incurred as a result of a claim event, e.g. taxi and accommodation costs.

Excess
The excess is the contractually agreed amount policyholders are required to pay out of their own pocket if an insured event occurs.  However, many of the products we offer give you the option of excluding this excess (e.g. our Secure Trip und Secure Trip PLUS annual travel policies – which are also available for families, our single-trip travel cancellation policies and our ski and snowboard insurance).

Family insurance
A family insurance policy can be taken out for the whole family (e.g. our Annual Travel Insurance for Families). Everyone living in the same household counts as family.

General Terms and Conditions of Insurance (GTCI)
The General Terms and Conditions of Insurance form the basis of the insurance contract and govern the contractual relationship between the insurance company and the policyholder. They set out the insured risks and benefits, along with the rights and obligations of both parties to the contract. Our Terms and Conditions of Insurance.

Home Care
Home Care arranges emergency measures in the event of loss or damage occurring at the insured person's permanent residence in Switzerland as a result of burglary, fire, natural hazards, water damage or glass breakage.This benefit is included with the following products: Annual Travel Insurance for Individuals, Annual Travel Insurance for Families and Travel Cancellation Insurance.

Insurance term
The period of time for which the insurance is valid.

Insured event
An insured event is an event that gives rise to a claim covered by the insurance policy. The occurrence of an insured event is therefore a precondition for the provision of benefits by the insurance company.

Interpreting service
The interpreting service is a 24-hour telephone interpreting service to help travellers who have problems communicating in German, English, French, Italian, Spanish, Portuguese, Turkish, Thai and Chinese. The service now also includes translation of written documents. This benefit is included with the following products: Annual Travel Insurance for Individuals, Annual Travel Insurance for Families and Travel Cancellation Insurance.

Juniors
All policyholders aged under 26 are classed as ‘juniors’.  We offer juniors special prices on our Annual Travel products for Individuals. Once policyholders are over the age limit, they are automatically issued with new policies subject to new terms and conditions.

Medical advice service (24h)
In the event of health problems while staying abroad, the insured persons have access to a 24–hour professional information and advice service. This benefit is included with the following products: Annual Travel Insurance for Individuals and Annual Travel Insurance for Families

Medical expenses
Medical expenses are incurred if a foreign visitor falls ill or has an accident while travelling in Switzerland. These include doctors' fees, hospital costs, the cost of medicines, repatriation to the traveller's country of origin, search and rescue costs and repatriation of the traveller's body in the event of death. Go to the Health Care for Visitors product: Schengen Visa Insurance.

Mobile phone blocking service
If the insured person loses their mobile phone, or if it is stolen, arrangements are made immediately to have the phone blocked by the relevant network service provider. This benefit is included with the following products: Annual Travel Insurance for Individuals, Annual Travel Insurance for Families and Travel Cancellation Insurance.

Notification of claim
All claims must be reported without delay. The insured person must report the claim to the insurance company in writing using the appropriate claim form and attaching all relevant documents. Original copies must be submitted.

Policy
A policy is an insurance document containing the most important information on the insurance taken out. It provides proof that insurance has been taken out, but is not a precondition for the validity of the insurance.

Policyholder/insured person
The policyholder is the person who has taken out an insurance policy. Cover is provided for the persons listed by name in the policy or in the tour operator’s travel confirmation document, or for the categories of persons defined in the policy. The precondition for such cover is that the premium has been paid for these persons and/or for this group of people.

Premium
The premium is the price the policyholder pays the insurance company in return for the insurance cover.

Private Medical
Private Medical covers costs which are not covered by compulsory health insurance: medical and hospital treatment abroad for emergency and routine checks. More on Private Medical.

Repatriation
Repatriation means the transportation of seriously ill or injured people from foreign travel destinations to hospitals with appropriate treatment facilities in their home country. Where possible patients are repatriated under the medical supervision of a doctor and a paramedic or nurse. For more information, please see Travel Assistance.

Replacement/repeat trip
If the insured person falls seriously ill or is seriously injured while travelling, the trip may be restarted at a later date. The insured person will receive a payment up to the amount of the agreed sum insured. This benefit is included with the following products: Secure Trip PLUS Annual Travel Insurance, Annual Travel Insurance for Families and Travel Insurance Pass.

Risk person
Risk persons are those persons who, along with the insured person, can give rise to an insured event. They include:

  • Family members of the insured person: spouse or life partner, their children, adoptive and step-children, parents, adoptive and step-parents, siblings, grandparents, grandchildren, parents-in-law, sons and daughters-in-law and brothers and sisters-in-law of the insured person, aunts and uncles, nieces and nephews and the life partner of any of the insured travelling companions.
  • Persons looking after underage children or family members in need of care who are not travelling.
  • Persons who have booked and insured a trip jointly with the insured person and their family members.

Where more than five people have booked a trip jointly, only the relevant family members and life partner of the insured person and their caregiver count as risk persons.

Scope of validity
The scope of validity encompasses those countries in which insurance cover is provided.

Search and rescue costs
This covers all costs incurred where the insured person has been declared missing abroad or needs to be rescued from a physical emergency situation (e.g. deployment of rescue services, search dogs, helicopters etc.). This benefit is included with the following products: Annual Travel Insurance for Individuals, Annual Travel Insurance for Families, Trip Cancellation/Assistance and Travel Insurance Pass all-inclusive.

Sum insured
The sum insured is the amount paid by the insurer in the event of a claim by the policyholder. A detailed description of the insured risks defines the damage and events which are covered and the amount up to which they are insured. 5. Suspension of cover If you fail to pay your premium even though you have been issued with a reminder, your insurance cover will be suspended and will only be reinstated once the premium has been paid. If a loss occurs while cover is suspended, the policy will not pay out.

Travel Hotline
The Travel Hotline is a 24-hour telephone information and advice service providing valuable information, useful advice and important tips about your travel destination. This benefit is included with the following products: Annual Travel Insurance for Individuals, Annual Travel Insurance for Families and Travel Cancellation Insurance.