Quick Borrowing Question

[MarylandMommy]

My use year is March. I have a few points left from this year. In March '07, I will get 200 points which I plan on using for a trip in October '07. I want to take my sister and her family, plus my Mom and Dad, so I would like to borrow next year points (March '08) to get them a 2 bedroom villa.
So those borrowed point would become March '07 points and expire on March '08, correct?
My mom and dad are concerened that THEIR parents are getting up there in years and (as most parents are) very cautious about what would happen to my points if they couldn't, at the last minute, make the trip.
Please tell me what would happen to my points. Can someone give me a scenarios for if we cancelled up to the day before, or while we were on the trip?
Also, does someone know about the points insurance? How much does it cost? I think I read they give you $5 for each point if you need to use the insurance.
Ok, now that I type it out, it doesn't seem that quick of a question, but I know you guys have the answers. You always do!
Help!

 

[Boston5602]

First you say you have a few points left and are getting new points March 2007 , did you bank those last few , or are you about to lose them at the end of the month?

If you borrow any 2008 points into your 2007 use year , they WILL expire on the last day of Feb 2008. ( I think next year is a leap year ) Unless of course you use them.

I borrowed all of my 2007 points into my 2006 U/Y and then canceled the trip I was using them for. MS reallocated the points for me so my first trip used up all the borrowed points and then I had my 2006 points back which I can use for a new vacation this year or BANK them to next year.

If you cancel the trip less than 31 days before your arrival day , the points go into a " Holding Account " you can use these points for a reservation made 60 days or less to when you want to use them.

If you cancel the day of check in or during your trip . all points are considered used and are then lost to you!

I've never used trip insurance so have no idea about that!