International Travel Insurance
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Going overseas for trip or studies? But don't know who will help if medical emergencies arises & what to do in that situation. Then here the question arises of international travel insurance.
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International Travel Insurance
- 1. International Travel Insurance What you need to know.
- 2. Introduction
- 3. Topics Covered • Why purchase international 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?
- 4. • 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
- 5. 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?
- 6. 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. • But international travel insurance will help you in any emergencies while you travel overseas.
- 7. 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
- 8. 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
- 9. Understanding the travel insurance options available to you! • Individual Travel Insurance • Family Travel Insurance • Student Travel Insurance
- 10. 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
- 11. 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.
- 12. Where can travel insurance be purchased? • Direct from insurance company • Banks • Insurance brokers • Organizations and associations • Travel Agencies • Online websites
- 13. 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
- 14. 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
- 15. 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
- 16. 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
- 17. Thank You !!!
Editor's Notes
- Traffic Accident Gloria, a 64-year-old traveller, was having a great vacation in France. She and her husband had just finished a day of sightseeing when her taxi was suddenly rear-ended by another car. The jolt cracked two of her vertebrae. Her husband was so badly shaken that he didn't know what to do or how to cope. The travel insurance company quickly took control. Their travel assistance team assured him that they would actively monitor Gloria' admission and let him know what needed to be done next. As they were a multi-lingual company, a French-speaking case manager spoke with the treating doctor and obtained an update on Gloria's condition and inquired about a possible repatriation back to Canada. Once the treating doctor approved of her repatriation to Canada, the case manager started phoning air ambulance providers. By using their international connections they managed to find a company based in Paris and familiar with the country's rules and regulations concerning air evacuation. They communicated with Gloria's family doctor and arranged for follow-up care once she returned home. The doctors in France also said she would require home care and a hospital bed. The insurance company got in touch with a home care provider in Canada and made all these arrangements as well. Gloria's total medical charges came to approximately $72,000. The insurance company completely covered this amount. She paid only $169.28 for her insurance policy and received 100% coverage and the kind of invaluable support in this type of a crisis situation. Poolside Slip One thing to keep in mind when travelling is that you don't need to be doing high risk activities like rock climbing or parasailing to consider travel insurance. Travel insurance is for everybody. Use it to cover yourself and the entire family whenever you leave your province of residence. Kayla's parents were happy they bought travel insurance for their trip to Anaheim, California. Kayla, a regular 8-year-old, was simply playing by the pool when she lost her footing and slipped. She scraped her chin on the edge of a pool and the cut was bad enough for a visit to the local medical clinic. After stitches, antibiotics and a prescription for a mild pain-killer, Kayla's family was presented with a $596.27 bill. The emergency assistance staff phoned the clinic and arranged for direct billing so the family wouldn't have to pay for treatment. They did, however, have to pay for the prescription, but the company explained how they could file a claim. They did so and the insurance company paid them back shortly after they returned home to Kamloops, British Columbia. Their provincial medical plan only covered $52.97 out of the nearly $600 they owed. Travel insurance saved them money and aggravation. No one wants those on their vacation.
- - Government health insurance plans will pay only a small fraction of expenses if you are sick or injured while travelling. - Some hospitals charge thousands of dollars a day, not including doctors’ fees or diagnostic services. Without emergency hospital and medical insurance, you and your family would be responsible for these high costs. When you are in a foreign country, there are several potential problems in the event of a medical emergency. You might not speak the language. You won’t know where the hospital is. You can’t communicate with the doctor. You don’t know if the hospital can provide adequate care. You’re in a foreign land with a problem that needs immediate care. The 24/7 emergency assistance call centers are staffed with multi-lingual operators, who are available to arrange medical care, transportation, and payment procedures. They can help you find a hospital, help you get there, and communicate with the doctors so you don’t have to worry about the language barrier.
- - Government health insurance plans will pay only a small fraction of expenses if you are sick or injured while travelling. - Some hospitals charge thousands of dollars a day, not including doctors’ fees or diagnostic services. Without emergency hospital and medical insurance, you and your family would be responsible for these high costs. When you are in a foreign country, there are several potential problems in the event of a medical emergency. You might not speak the language. You won’t know where the hospital is. You can’t communicate with the doctor. You don’t know if the hospital can provide adequate care. You’re in a foreign land with a problem that needs immediate care. The 24/7 emergency assistance call centers are staffed with multi-lingual operators, who are available to arrange medical care, transportation, and payment procedures. They can help you find a hospital, help you get there, and communicate with the doctors so you don’t have to worry about the language barrier.
- Have an idea in your head of the dates you plan to leave and return for your trip. Must have valid provincial health coverage in order to purchase travel insurance.
- Also includes no test results showing deterioration; no hospitalization and no referral to a specialist. Each insurance provider has a different stability period; some require a 3 month period while others are as long as 9 months. To be safe I would suggest visiting your family doctor 6 months prior to departure for your trip. To clarify: You don’t have to purchase your travel insurance 6 months prior to your trip, but if you plan to go on a vacation in the future, visit your doctor 6 months in advance to meet stability clause requirements.
- Individual Travel Insurance:- While travelling alone to a foreign location is a great experience, however, if left uninsured can make you go through a lot of unwanted and unavoidable situations. Family Travel Insurance:- This Family Travel Insurance plans are tailored to protect you, your family & budget. Travel with peace of mind anywhere in the world with our Family Travel Insurance covers. Student Travel Insurance:- Now Studying abroad has become safer with Student Overseas travel insurance your child can study abroad without worrying about safety & medical expenses.
- Age: Individuals over the age of 55-60 usually must complete a medical questionnaire at the time of application. Pre-Existing Conditions: Any pre-existing conditions will cause your rates to be more expensive and in some cases will cause you to be un-insurable with some companies. # of Travelers: There are group travel insurance discount plans available for groups of 3+ travelers. Length: The length of your trip and whether it is a single or multi-trip plan will affect the cost. - Cost: The cost of your trip will only affect the cost of your insurance if you are purchasing all-inclusive and trip cancellation/ interruption insurance. - Non-US: Non-US plans are available which may lower travel insurance costs.
- When you purchase from a broker, the insurance company pays the broker's commission not you, so you don't pay anymore than booking direct from the provider but receive the benefits of using a broker. - Brokers are able to shop the market for you in order to find the insurance policy that is right for you and the best rate possible. Banks, organizations, associations, and travel agencies use only one provider for travel insurance and are not able to shop around for better rates or coverage. Examples of organizations that offer travel insurance to their members are Snowbirds, Carp, CAA. Your travel agent or cruise line will often try to sell you travel insurance as part of a vacation package. You DO NOT have to purchase your travel insurance from them, you have the right to shop around for better rates and more comprehensive coverage.
- Purchasing travel insurance early, although not necessary, is suggested because it will allow you to take advantage of possible early bird rates and will provide sufficient time in the event that medical underwriting is needed. You must purchase coverage for the entire length of your trip, which includes the day you leave and the day you return Trip Cancellation and Interruption: Purchasing trip cancellation insurance shortly after booking your trip ensures that you are covered in the event something comes up forcing you to cancel or postpone your trip. The trip cancellation insurance will pay for any non-refundable expenses you have already paid out.
- The benefits provided depend heavily on the provider, some provide very basic coverage while others are much more comprehensive. For Trip Cancellation and Interruption some benefits include: Re-imbursement for non-refundable pre-paid expenses Re-imbursement for cancellation penalties Concierge service One way ticket in the event of a delayed or cancelled flight which caused you to miss a connection on route to your destination One way ticket to return you to your home country in the event of a trip interruption
- - Each policy differs so always read your policy carefully and know what you are and aren’t covered for so there are no surprises in the event something happens.
- If you do not call prior to treatment you could be stuck with 20-30% of the cost of treatment, unless it is medically impossible for you to call at the time. In the event you are medically incapable of calling yourself, have someone else call for you instead. You must submit written proof of any treatment 60-90 days after receiving the treatment in order for your claim to be processed. Be sure to read your policy carefully for the details specific to your policy and the claims process.