Coronavirus is continuing to spread worldwide since its origination in China. The virus has entered countries in the Middle East, countries in Europe and even America. It is important to consider what to do about traveling internationally with the outbreak of coronavirus.
The Center for Disease Control can help you in tracking where there are widespread cases of coronavirus across the world. Currently, the main country to avoid traveling to is China. South Korea and other countries in the eastern Asian region should also be avoided. It is important to always be aware however. Continue reading below to learn more about how current and future travel plans could be affected.
Existing Travel Plans
It is completely understandable if you would rather not travel internationally, especially to Eastern Asia, while this coronavirus outbreak is underway. Unfortunately, however, getting a refund may not be possible. It is important to contact the airline and the airport of your flight to ask about a potential refund or other options available.
Some airlines are providing refunds for trips to China. Others are offering free route changes only if a layover was where outbreaks have occurred.
Hotels are more readily able to provide refunds if you cancel your trip according to the guidelines set forth in the booking contract. Cruise ships have also been understanding in providing free tickets for another cruise. Some even have offered refunds.
Travel insurance does not provide very significant assistance in providing refunding or modifications for existing travel arrangements. It really depends on your specific policy, however, especially if you have a cancel for any reason benefit. It is still possible, however, that you may not have this benefit or that the benefit may only offer credit or partial refunds.
Investment Advisory Services offered through Retirement Wealth Advisors (RWA), a Registered Investment Advisor. Pennsylvania Wealth Management and RWA are not affiliated. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.
This information is designed to provide general information on the subjects covered, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Pennsylvania Wealth Management and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.
Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims‐paying ability of the issuing company and are not offered by Retirement Wealth Advisors.
Million Dollar Round Table (“MDRT”) is a membership organization. Qualifying criteria for membership includes attaining specified levels of commissions earned, premiums paid or income earned on the sale of insurance and other financial products. MDRT membership requirements include the payment of annual dues, compliance with ethical standards, and maintaining good standing with an MDRT-approved professional association. The MDRT logo and/or trademarks are property of their respective owners and no endorsement of Jason Bergey or Pennsylvania Wealth Management is stated or implied. MDRT and Retirement Wealth Advisors, Inc. (RWA) are not affiliated.