It’s well-known that cutting corners on travel insurance can lead to inadequate coverage, as free options often fall short. Consider the case of a 61-year-old man who saved $765,000 in medical expenses during a trip to Boca Raton. However, paying a large premium upfront can be overwhelming, especially as travel expenses accumulate during the booking process. That’s why we’re excited to introduce TuGo’s Payment Plan—a flexible payment option for travelers with insurance premiums over $1,000*, allowing them to spread the costs over a more manageable timeframe.
*Before taxes, purchases made no more than 365 days in advance, and at least 30 days prior to the departure date.
How Does TuGo’s Payment Plan Work?
TuGo’s Payment Plan gives travelers the flexibility to pay their insurance premiums in two installments: 25% is due at the time of purchase, with the remaining balance automatically charged to the credit card on file seven days before the policy’s effective date.
You will receive notifications about successful, upcoming, and failed payments throughout the duration of your payment plan, leading up to the policy’s effective date.
Here’s an example of how the Payment Plan works: If you purchase a policy on January 1 for a trip starting on June 8, your payment schedule would look like this:
- On January 1, 25% of your premium is charged.
- On June 1 (seven days before the effective date), the remaining balance is automatically charged to your credit card.
- On June 8, your policy becomes active and your coverage begins.
How Can I Pay Off My Remaining Balance Early?
If you’d like to settle your remaining balance in advance, you can do so through myTuGo or by contacting your broker.
Not familiar with myTuGo? Check it out today!
Am I Eligible for the Payment Plan?
Travelers with any of the following policies and a premium of $1,000 or more can benefit from TuGo’s Payment Plan:
- Emergency Medical Insurance**
- Visitors to Canada Insurance
- Student Insurance
**This includes Non-Medical plans but excludes Trip Cancellation and any policies that include Trip Cancellation. TuGo programs with limited distribution (Explorer, Optimum, Employee & Family, and group policy certificates) are not eligible.
Interested in learning more? Visit our Payment Plan FAQs.
At TuGo, we strive to provide travelers with options that cater to their diverse needs, offering increased financial flexibility to ensure they have the protection they need while away from home.
Safe travels,
Suki
