Do You Need Vacation Insurance?

By Jack Cohen
Chief Operating Officer
Golden & Cohen

With summer travel upon us, I'm frequently asked this question: Is travel insurance worth the investment? The answer is simple: Yes. It is most definitely worth purchasing, mostly because domestic health insurance plans only provide emergency coverage, such as an unexpected trip to the hospital. And that's the case only if you have the type of insurance that covers you for out-of-state medical care.

Better safe than sorry: I realize this isn't what you'd like to be thinking about while you are planning your summer respite. Nonetheless, travel insurance gives you additional protection and usually covers hospital stays, doctor visits, emergency care, trip interruption due to unforeseen circumstances, lost luggage – and in the worst case scenario, it covers the return of mortal remains or the return of minor children in the case of a political or emergency evacuation.

Exclusions from some or all travel insurance include pre-exisiting conditions that existed three years prior to the effective travel date, elective treatments, or surgeries. Most policies will also not pay for immunizations, routine physical exams, AIDS treatments, or a political evacuation if there was a travel advisory.

What type of travel insurance should you buy if you are going abroad? If you are traveling abroad, at the very least consider buying coverage that provides medical care while traveling abroad – doctor's office visits, sick visits, and hospital care. If you are traveling to an unstable spot, consider buying protection that covers you in the case of an emergency evacuation.

Three things to remember:

1. Speak to a knowledgeable insurance broker when in need of specialty insurance products.
2. Make sure the carrier is a highly rated one.
3. Read the entire policy so you know what you are buying before leaving for the trip.

Have more questions? Send me an email: Jack@golden-cohen.com

Inside The Essential Performance Review Handbook

A Q&A by Stephanie Cohen with HR expert and author Sharon Armstrong

Although performance reviews are actually less popular than a trip to the dentist for most supervisors (see that study below), it's not supposed to be this way.

That's why HR expert Sharon Armstrong wrote, The Essential Performance Review Handbook, which was published last month by Career Press.

Sharon's goal is to help take the pain out of the performance review process, and as any manager and business owner knows – that's a wonderful idea. Below you'll find a Q&A with Sharon, where you'll find ideas on how to master this important task.

Stephanie Cohen: Tell us about your new book, and what you hope readers will take away from it.

Sharon Armstrong: I do my best in the book to provide advice on how to make the performance review process productive, painless, and effective.

After all, I have been there as a manager and know from firsthand experience that performance appraisals can be one of the most anxiety-provoking aspects of work life–for both supervisors and employees.

Appraisals are meant to clarify and reward, and to be interactive and fair. They take real time, real dialogue, and a real focus on the future, rather than just the previous few months. They need to work successfully for all employees–not just the terrific ones.

Stephanie Cohen: Why do people hate them so much?

Sharon Armstrong: Supervisors often complain they are required to focus on tedious written forms, but don't have enough training in how to use them. They also worry about getting hit with complaints or lawsuits when there's even a hint of discussion in the review about "improvement opportunities." There's also the frustration of measuring intangibles. What's more, employees often aren't any happier about the performance review process. Read why here.