It's my pleasure to welcome you to the Clark Howard Show, where we're here to serve you

and empower you to make better financial decisions in your life.

Today's episode, there's a new benefit for travelers who have an American Express card,

and it's definitely going to be a wave of the future.

I want to share it with you.

I should say up front, the benefit's not free.

Later, I want to tell you about some of the new trends in the wedding business that I am all about.

I think they're really, really great.

So there was a clear need in the marketplace that became so obvious during COVID.

And it was canceled for any reason insurance, because over and over again,

over the particularly from March of 20 through 21, it came up repeatedly that even people

who bought travel insurance, trip insurance weren't covered for the circumstances that led

to them not going because of COVID.

And over and over again, not covered, not covered, not covered.

And so starting, I guess about late summer of 20, I started talking more and more about

cancel for any reason travel insurance geared towards people who had booked cruises or tours

or whatever that if you decided not to go so often the policies didn't cover that reason.

And you were just out all your money.

So cancel for any reason insurance costs more than traditional travel insurance.

But what it does, it gives you back usually 75% of the cost of the trip.

Sometimes it will be 50, but usually it's 75%.

Why is it never 100% because there's moral hazard there?

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