Let's assume that you travel extensively around the world each year on business. Or, you are the head of the Human Resources Department of a multinational company that has executives in Brazil one week, Las Vegas the next, and back at Head Office the week after that. In both scenarios you're sure going to want to fine cheap travel insurance; or at least, cheap compared to the current market rate for single journey trips. So, how can you arrange this?

The type of travel insurance you need may depend on whether you have medical coverage of your own, whether you're traveling in a family or alone, and what type of transportation you're taking. Luckily, there are myriad options for all of these, with plenty of budget-friendly choices in the bunch.

The Annual Premium
The answer to your cheap travel insurance problems may well lie with the annual premium travel insurance policy. Unlike other mainstay insurance policies that cater for single trips, such as the bundled, customized, or even flexible, travel insurance, annual premium travel insurance policies insurance travelers on their global travel for a period of one year from the day that the policy is take out.

As an individual business traveler, this may seem a little excessive. But here's the catch, all you need to do is determine how many times you think you may be traveling in any given year and if you decide that you may be traveling more than 3 times on business that year, there's an above average chance that taking out an annual premium insurance policy is going to work out a lot cheaper for you than if you take out a series of individual packages.

If you are the head of a Human Resources Department, then the appeal of annual premium travel insurance cover is even more attractive as you can easily negotiate with the insurance provider to provide you with annual travel insurance in the name of the company; regardless of who is travelling on company business. The costs savings to your company could be huge. Of course, you would need to check the policy carefully to ensure that one-off trips to, say, the North Pole are covered (assuming your company will be doing business in the North Pole this year). But even where there are limitations and exemptions clauses, and where your company may need to still take out single trip insurances (for example, traveling to the Sudan may need additional cover!), it is still likely that this type of insurance policy will work out a lot cheaper for your company.

The Retiree and the Annual Premium
A final category of travelers that may well benefit from cheap annual premium travel insurance are retirees. More and more these days retirees like to spend a considerable part of their time traveling around the world taking in all the different sites - whether that be on a ship as part of a round the world cruise - or as tax exiles just plane hoping. Fop such travelers the annual premium travel insurance policy could be a lot less expensive than taking out single trip insurance. And here the clincher - for a retiree looking to travel for more than 6 months out of the year, it is extremely likely that an annual premium insurance is going to work out a cheap insurance for them - even where their 6 months trip is going to be part of one excursion!