travel insurance 101:

Travel Insurance 101:

What you need to know.

Introduction

Topics Covered• Why purchase travel insurance?• How to prepare to get travel insurance?• Understanding the stability clause!• Understanding the travel insurance

options available to you!• What affects the cost of travel

insurance?

• Where can travel insurance be purchased?• When should travel insurance be purchased?• What is covered by most travel insurance

policies?• What is not covered by most travel insurance

policies?• How to make a claim if something happens!• Q/A

Topics Covered

Why purchase travel insurance?

• Unexpected medical treatment is the single most expensive hidden cost you could get hit with when you travel - whether on business or pleasure, within Canada or around the world.

• Can you afford to be stuck with the bill?

Why purchase travel insurance?• Nobody ever plans on experiencing an

expensive emergency while travelling. • Your Government Health Insurance Plan

(GHIP) and other insurance such as employee group benefits and credit cards may not adequately provide the full coverage required to safeguard you on your trip.

How to prepare to get travel insurance?

• Trip departure and return dates• Visit your family doctor 6 months prior to the

planned departure date of your trip• Have any prescriptions filled and any required

prescription changes done at this time to ensure eligibility

Understanding the stability clause!• In order to be covered for any pre-

existing medical conditions there must be no changes to/or new medical conditions, symptoms, or medications during the stability period prior to your trip

• Average stability period is 6 months

Understanding the travel insurance options available to you!

• Snowbirds• Emergency Medical Travel Insurance –

single trip, annual• Trip Cancellation and Interruption

Insurance• All Inclusive Travel Insurance• Expatriate Insurance• Visitors to Canada Travel Insurance

What affects the cost of travel insurance?

• Age• Any pre-existing medical conditions• The number of travelers• The length of your trip• The cost of your trip• Whether you are travelling to the

United States or elsewhere• Inflation• Deductible options available

How to budget for travel insurance

Cost is always rising due to age, health & inflation How can I still travel?

Covert a portion of your savings into a guaranteed income stream to fund your traveling

needs ( travel insurance & cost of traveling) and retire your worries.

Where can travel insurance be purchased?

• Direct from insurance company• Banks• Insurance brokers• Organizations and associations• Travel Agencies• Online websites

When should travel insurance be purchased?

• Emergency medical travel insurance can be purchased anytime up until the day you are leaving your province of residence

• It is recommended that you purchase trip cancellation and interruption travel insurance within days of booking your trip

What is covered by most travel insurance policies?

• 24/7 emergency assistance• Emergency medical expenses• Hospital allowances • Ambulance transportation

expenses• Emergency evacuation and

repatriation• Return of vehicle

• Expenses to bring someone to your bedside

• Return of travel companion• Return to trip destination• Pet return• Emergency professional services• Emergency dental treatment• Return of remains

What is not covered by most travel insurance policies?

• Pre-existing medical conditions that do not meet requirements for the stability period

• Concealing or misrepresenting any information on your application• Expenses for acting against professional medical advice, a

prescribed therapy or treatment• Injury or illness caused by alcohol or drug use• Any treatment that is not for an emergency• Participation in extreme sports or any motorized vehicle speed

contests• War or terrorism

How to make a claim if something happens!

• Call the assistance centre of your provider immediately – Call prior to any treatment or it may not be

covered– The assistance coordinators will provide guidance

• Keep all receipts, bills, and invoices• Obtain medical records including diagnosis and

procedures

Visit

www.voyage.gc.ca

For travel warnings and to register with Registration of Canadian Abroad

Questions?Stacey Aarssen

Better Travel Insurance888-341-3691 x 2

buy@bettertravelinsurance.ca