In general, cashflow insurance is a substitute for an emergency fund. Wealth preservation insurance is a hedge against uncertain upside risk, and covers risks that are harder to “self-insure” against.

I discussed this on my blog recently.

“The Event Ticket Protection Plan provides coverage when the expense of a Ticket has been charged to the Cardmember’s Account and the Ticketholder cannot use the Ticket due to a Covered Incident, such as a Medical Emergency, as defined in the Plan documents. You may be reimbursed, up to a maximum coverage limit of $1,000 per Occurrence, for the cost of the unused Ticket. The Ticket must be charged to your Account, and you are eligible for up to two Covered Incidents per 12-month period, beginning when the eligible Ticket was charged to your Account.”

Probably the terms aren’t quite as liberal as the insurance in your post, but at least it’s not costing me anything other than the annual fee on the card (which is more than made up for in other rewards… this ticket insurance is a bit of icing on the cake).