Is anyone planning on going south this winter? Once the dismal days of winter begin, many seniors pack their bags and head out of town for warmer weather and sunnier skies.
If there?s one thing that?s more important to pack than your bathing suit and sunscreen, it?s travel insurance. Ensuring you?re adequately covered with the right health insurance takes some consideration.
Coming down with an illness or being involved in an accident while out of the country can be very expensive. If you?ve ever required medical attention outside of Canada, you?ll know how quickly the bills can add up. For example, a broken leg in the United States can cost you approximately $20,000, and a trip home via air ambulance from Florida to Ontario could set you back $15,000, according to insurance companies.
Many Canadians seniors who often travel south for the winter have got the system down pat, but many others are not adequately covered. Not having the correct travel insurance and full medical coverage can turn a wonderful vacation bad very quickly if a medical emergency occurs and you?re not covered.
A recent study by BMO Insurance found that only 41 per cent of Canadians who travel purchase travel insurance on a regular basis, in spite of the fact that four in 10 say that at some point in their lives either they, or a companion, have required medical attention while travelling.
Getting the right travel insurance takes time and you need to do your homework to make sure you?re comparing apples with apples when it comes to the different types of coverage. It?s also imperative you fill out the medical questionnaire as accurately as possible, disclosing all medical conditions. There?s no tricking the system since it will be you who will lose out in the end if you misrepresent your situation. Travel insurance is affordable; paying a non-covered medical bill is not.
To start with, we need to understand the different types of travel insurance in order make a sound decision when purchasing.
The different categories are:
??Travel medical or major medical provides protection if you become ill or are injured. The difference between these two types is the duration: short-term versus long-term travel.
??Trip cancellation insurance covers you if you need to cancel your trip. The reasons can range from illness or change of mind, to weather. Always know the stipulations of your policy.
??Emergency medical evacuation or transportation to a facility or home: Always have a way to get back home.
??Accidental death/flight accident insurance: Some plans include life insurance or payout to a surviving spouse.
Purchasing travel insurance can be a tedious and daunting task. Don?t make a hasty, easy-whatever choice. Take the time to investigate and make the right choice for you and your loved ones.
Did you know there are different ways to purchase your travel insurance?
??Per-trip or single trip coverage which provides protection for a single trip for a particular period of time;
??Multi-trip coverage which provides protection for multiple trips, at 30 days per trip, over the period of a year;
??Annual coverage, which protects you for unlimited trips for the year.
For me, I find it best to speak with an agent to ensure I have the right kind or combination of travel insurance. Planning ahead and asking yourself some key questions may be a helpful practice. Get a notebook and write some questions down, it might help you for the next trip:
??Do I have coverage through my employer, credit cards or other insurance plans?
??What type of coverage do I need?
??Is having a 24-hour emergency assistance number important?
??Is direct payment of medical bills an important feature (so that you?re not paying out-of-pocket and having to wait for reimbursement)?
??What is the limit on the plan? Is a million-dollar coverage enough?
??Does the plan include repatriation and family support services?
??Do I need to inform OHIP of my long-term travel?
??Do I have to call the insurance company before engaging in service?
??What coverage do I need? Don?t end up paying for features if you don?t need them.
Don?t forget to read the fine print and ask for clarification to ensure you have the right plan for your travel needs. It will help you determine the right insurance for your trip. Whether it?s a quick getaway, family holiday or snowbird vacation, travel insurance needs to be part of your travel kit.
Now you can pack your bags and head off to your destination? or can you? Did you remember to get your travel vaccinations? Oh, but that?s another blog!
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