Terms And Conditions

Cronos Insurance Ltd, thereafter referred as “Cronos”, is a licensed (no.45013) external insurance company registered in the Commonwealth of The Bahamas under no. 205538B and is regulated by the Insurance Commission of the Bahamas.
For more information on the company, please visit www.cronos-insurance.com

Travel Angel ™ is a life insurance for traveling policy offered and underwritten by Cronos that covers accidental fatalities during a travel event, as described in the below related section, where the benefit is a fixed amount payable to the designated beneficiary(ies).

Travel Angel ™ is an insurance service offered by Cronos and/or its network of insurance partners to the policyholder, thereafter, defined as the “client or policyholder” and when mentioned together with Cronos are named the “parties”.

The actual General Terms & Conditions document defines the general rights and obligations of the parties and serves for all information regarding this policy.

Key Information and Customer Service contact
Travel Angel ™ product information, procedures and/or documents such as client on-boarding application, insurance policy schedule, General Terms & Conditions, claims or customer service are available exclusively online.

Customer Service: info@travelangel.life (Monday-Friday 9:00am – 6:00pm EST)

The following definitions apply for the purposes of the Insurance Policy thereafter in these General Terms & Conditions.

Insurance Policy
The insurance contract comprising of the application process, policy certificate, these General Terms & Conditions and/or any documents provided by Cronos after the policy start date.

The policyholder is the insured person who must be between the age of 18 and 80.

Policy Certificate
The document sent by Cronos to the policyholder confirming acceptance of the policy and all policyholder/beneficiary information, the policy number, the premium and the coverage period.

The insurance premium paid by the policyholder to Cronos and/or its affiliates and partners for the insurance coverage.

Pricing Plan
The insurance package that covers the policyholder for a specific plan. 

Policy Start Date
The date on which the insurance starts.

Maturity Date
The date on which the insurance coverage finishes as per the selected pricing plan.

Insured Event
The event of death of the Policyholder during a travel event (see Point 10).

Any person designated on the policy certificate to receive the insurance benefit.

Benefit (Payout)
The amount of U$ 100 000 to be paid out to the beneficiary after an insured event.

Any information or documents provided by Cronos by any electronic channels such as Internet, emails, smartphones and/or applications.

Business Day
Any day, other than a Saturday, Sunday or public holiday in the Commonwealth of the Bahamas.

Insurance Commission of the Bahamas
Also referred to as the ICB, is an independent regulatory agency with the responsibility for regulating all insurance activity in and through the Commonwealth of the Bahamas. It serves as the primary prudential and market conduct regulator, and provides ongoing monitoring and control of, amongst others, all external insurers.

A United States (US) Person
A person defined as a:

  • citizen of the United States
  • holder of a US green card,
  • resident of the US including a person:
  • who has elected to be taxed as a US person for income tax purposes, or
  • who has been present in the US for more than 180 days during the current calendar year or for more than 120 days on average during the current calendar year and the prior two years, or
  • who is living in the US, for even a brief period of time, with no definite present intention of later moving there from (i.e. with intention to remain in the US indefinitely)

1. Contracting Parties
The Policyholder also defined as the Insured person is a natural person taking out the Insurance Policy. The beneficiary is a person in whose favour the policy benefit is determined.

2. Policyholder On-boarding
When applying for a new insurance coverage the Policyholder will be requested to create a log-in and password access and upload his/her identification document as well as a proof of address. After an automatic identification, a due diligence validation and upload of the required documents, a policy certificate will be generated and sent electronically. The policyholder can apply to a maximum of one insurance policy and no health questionnaire is required.

3. Beneficiary
The Policyholder can appoint one or two beneficiaries who can be changed at any time before an insured event should occur. In case the beneficiary is a child (under 18-year-old), Cronos will pay the benefit to his/her account or to his/her legal parents should an insured event occur.

4. US Connected Persons
The Policyholder shall immediately notify Cronos if after proceeding the online application, his/her or the beneficiary has become a US connected person.

5. What is covered
The policy covers accidental death while traveling or commuting as a passenger of a:

  • Commercial flight
  • Commercial train or subway
  • Commercial cruise-ship or ferry boat
  • Commercial bus
  • Commercial aerial cable cars
  • Licensed taxi including Uber and Lyft
  • Driving personal 100% Electric Vehicle (only valid for Premium plans – see point 10. EVs.)

6. Start of the Insurance Coverage
The policy comes into effect on the date when the policy certificate is generated. The date is determined after Cronos has approved the insurance application and required documents, usually the same day as the online insurance subscription. The insurance application is not legally binding for Cronos which has the right to accept or reject it without any explanation.

7. Premium Pricing Plan
The policyholder can choose between the following three coverage plans:

  • 1-month: basic for US $19
  • 1-month: premium for US $25
  • 12-month: premium for US $199

Premium policy payment is processed only through credit cards or Paypal. A 10-day free lock period is available from the date of receipt of your policy certificate, minus U$ 25 of pre-application screening costs. A reimbursement request should be sent to info@travelangel.life.

8. Validity and Renewal of Coverage
The policy coverage is valid for the selected period and is renewed automatically for the same period. The policyholder could renew the policy with a different pricing plan term or cancel it according to the notice period of 7 days calendar.

9. Cancellation of Policy
The Policyholder may terminate the policy any time, but no later than 7 days before the plan’s term.
Example: if a 12-month plan starts on January 1st and ends on December 31st, the cancellation is accepted no later than December 24th midnight at local time of the policyholder time zone.

10. Insured event (accidental death)
An insured event is considered valid when an unexpected incident affects the transport vehicle ability to perform its normal course and causes the Policyholder’s death.
For 100% electric vehicles (EVs), only the vehicle’s owner, while driving, is covered if death is caused by a battery fire or explosion or an autopilot failure.

11. Benefit (Payout)
Following an accidental death event, Cronos will pay to the beneficiary a benefit of USD 100,000 within 48 hours after approval of the claim process. When two beneficiaries are selected, the payout will be split as per the selected ratio. In case the beneficiary has died, the proceeds will be paid to the policyholder individual’s estate.

12. Limitation of Coverage
The policy insurance does not cover the death of the Policyholder caused by or when:

  • Nuclear damage as per the Nuclear Liability Act, regardless of where the nuclear damage occurs.
  • Emissions of radioactive substances which directly or indirectly lead to nuclear fission/fusion reactions and/or radioactive causes.
  • Terrorism or criminal acts with the use of nuclear, radioactive, biological or chemical weapons or materials.
  • Any act of war, civil war, invasion, riot, civil commotion.
  • Altercations with crew, participation in a violent action, insurrection, fight or other violent riot in the travel event.
  • Identified links of the Policyholder with any applicable government watch list as supporting terrorism, narcotics, human trafficking, piracy, proliferation of weapons, organized crime activities, malicious cyber activity or human rights abuses.
  • Suicide, health or natural death.
  • Use of cargo transportation.
  • Professional duties (e.g. taxi driver, chauffeur service, truck driver) while driving a 100% electric vehicle.
  • Consequences of a travel event while policyholder is not in a travel event any longer.
  • Policyholder personal inadvertent actions causing his-her own death.

13. Regions Covered
Cronos offers policy underwriting only online in the global regions of America, Europe and Asia.

14. Countries Not Covered
Cronos is compliant with international sanctions lists and laws and excludes policy underwriting for countries and residents included in the OFAC and OFSI lists and outside of its regional scope of business.

15. Claim for an insured event
In case of an insured event occurs (death of the Policyholder while being in a travel event), the beneficiary must immediately file for a Claim but no later than 60 days after the insured event. A claim could be registered exclusively online by accessing travelangel/claim and provide all the following information and documents:

  • Accident date and type
  • Transportation company name
  • Travel dates
  • Travel destination (from / to)
  • Certified police or medical death certificate.
  • Certified copy of travel document (ticket, transport receipt) confirming the Policyholder identity as passenger
  • Beneficiary certified passport/ID
  • Beneficiary certified proof of address
  • Beneficiary banking details
  • Any other documents/information Cronos may reasonably require

On receipt of all the documentation, Cronos will assess the claim and will notify the beneficiary of its acceptance and payment of benefit.

16. Modifications of the Policy
Cronos may amend or waive any provision of the Insurance Policy without the consent of the Policyholder to the extent possible under the laws of The Commonwealth of The Bahamas, by sending an online notification.

17. Policy Final Termination
The insurance policy will automatically terminate after:

  • Valid cancellation date
  • An insured (death) event occurred
  • Policyholder’s death reason not covered
  • A policyholder will be considered inappropriate as per Cronos compliance requirements
  • Issue or tentative of fraudulent claim

18. KYC & Due Diligence (DD)
As per know-your- customer (KYC) rules and anti-money laundering laws and regulations of the Commonwealth of The Bahamas, Cronos applies the following Due Diligence (DD) procedures:

  • Perform standard due diligence controls during the initial on-boarding application process as well as periodic checks on all its clients’ database.
  • If the Policyholder provides fraudulent information and/or not considered acceptable for a proper business relationship, Cronos, in its sole discretion, will immediately reject and/or terminate the Insurance Policy with no reimbursement of the premium collected.
  • Cronos will not offer its policy underwriting to residents and/or nationals of OFAC-OFSI lists.

19. Correspondence
All correspondence regarding the Insurance policy is accessible and/or transmitted through the portal at www.travelangel.life or by email from/to info@travelangel.life.

20. Confidentiality
Cronos shall be under no obligation to disclose the terms of the policy to any person unless it is:

  • The beneficiary of the policy.
  • The information is given to Cronos employees, officers, representatives, advisers or outsourcing partners who need to know such information for the purposes of carrying the obligations under this agreement.
  • The information is required by law, court order or any governmental or regulatory authority in the Commonwealth of the Bahamas.

21. Data Protection
According to applicable data protection law, Cronos collects personal information data from the policyholder, the beneficiary and business partners. These data will be recorded and stored for the purposes of:

  • Insurance policy preparation, acceptance, administration and claims.
  • Prevention, detection and investigation of crime, fraud and money laundering and terrorist financing.
  • Legal and regulatory compliance including compliance with laws outside the policyholder’s country.
  • Monitoring for quality training and security purposes.
  • Internal marketing, market research and analysis.

For the above purposes, the personal data may be shared with brokers, distribution partners, reinsurers, due diligence agencies and other service providers. Cronos does not share the personal data with third parties for marketing purposes. Due to the global nature of Cronos´ business, personal data may be transferred and/or secured in other countries, including the USA, Europe or Asia.
By subscribing to the Insurance Policy, the policyholder as well as the beneficiary consent to the collecting and processing of their personal data as described above and acknowledge their right to access, and where necessary, correct any such personal data.
Appropriate legal and high standard security measures are selected carefully and used to protect the personal data information.

22. Exceptional Circumstances
Given the nature of its business, Cronos partners with international reinsurance groups in order to cover exceptional situations that could affect its business operations.

Notwithstanding the paragraph above, Cronos may suspend the policyholder’s rights or provisions if truly exceptional circumstances so require. Any possibility between modification and delay of the policy benefit will be made in the best interest of the policyholder.

23. Applicable Tax Regime
The tax regime applying to a beneficiary paid by Cronos in case of an Insured Event, may vary according to various factors such as; country of residence, citizenship and nationality the beneficiary.
It is the responsibility of the policyholder and beneficiary to comply with all applicable tax laws and regulations of their country of tax residence. Cronos does not provide legal or tax advice and recommends that the policyholder and beneficiary seek independent advice for their situation in respect to this Insurance Policy.

24. Severance
The inaccuracy or invalidity of all or part of any provision of the policy will not affect the validity of the policy as a whole. If a provision of the policy (or part of any provision) is found illegal, invalid or unenforceable, the provision will apply with minimum modification in order to make it legal and valid.

25. Applicable Law
The parties agree that the General Terms & Conditions shall be governed by and construed in accordance with the laws of The Commonwealth of The Bahamas.


Eligible Countries

Antigua and Barbuda
Costa Rica
Czech Republic
Dominican Republic
El Salvador
Hong Kong
South Korea
New Zealand
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and Grenadine
San Marino
Saudi Arabia
South Africa
Trinidad and Tobago
United Arab Emirates
United Kingdom
United States of America