Last Updated: December 9, 2008March 21, 2018

Yes, many travel insurance plans will cover trip cancellation in the event of an unforeseen termination of employment. The benefit typically covers trip cancellation in the event you or a traveling companion are laid off after 3 consecutive years of employment at the place where you are terminated.  Some policies cover job loss after 1 or 2 years while a few require 5 consecutive years of employment. Check the policy certificate for full details.