What if I cancel my trip before any penalty from the travel provider begins?

Answer:

You must notify Travelex Insurance Services that you intend to cancel your trip before your original departure date. Travelex will allow you to "re-use" your purchased coverage up to one year from original departure date. If you notify Travelex within two weeks of making the initial trip deposit on the new trip, pre-existing medical conditions will be covered (i.e. the waiver will apply).
* Travel Plus and Travelite only.