travel insurance 101:
DESCRIPTION
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?. - PowerPoint PPT PresentationTRANSCRIPT
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
