People lead busy lives and often plan a trip and never give much attention to getting travel insurance. With so much do-it-yourself for travel and finding a good deal, you might overlook the need. I would expect that a travel company would ensure that you have it, but it has been known to have been overlooked. Perhaps you’re just crossing the border from Ontario to New York state at the last minute and never gave it a thought.
If you’re healthy, travel insurance is relatively inexpensive, so why would a financial planner emphasize this product? It’s because while the probability of a medical emergency is low, if it happens the costs are high and could wipe out your savings! If you were hospitalized outside Canada and even outside Ontario, your Ontario Health Insurance Plan (OHIP) quite likely won’t cover 100% of your expenses.
Selecting the right product can get complicated, so if you’d rather setup a no-obligation phone call click this link and select a convenient time.
So What is Travel Insurance?
Often referred to as “emergency or supplemental medical travel insurance” is the primary offering. It’s designed to reimburse you for emergency hospital/medical expenses incurred, over and above those the Ontario Health Insurance Plan (OHIP) will cover, while travelling outside of Canada.
While travel medical insurance policies vary greatly from insurance company to insurance company, most generally include coverage for the following emergency health care services :
- hospital room accommodation,
- incidental expenses related to your hospital stay,
- outpatient services,
- licensed physician’s fees,
- prescriptions and/or medical, therapeutic or diagnostic treatments prescribed by a licensed physician,
- medical appliances (e.g., splints, casts, crutches, canes, slings, trusses, walkers and the temporary rental of a wheelchair) when prescribed by a licensed physician,
- emergency dental care, and
- ambulance and air ambulance medical evacuation services.
There are several main plans as follows.
- Emergency Medical
- Visitor to Canada
- Trip Cancellation & Trip Interruption
- Trip Interruption
- All Inclusive Holiday Package
- Non-Medical Package
- Accidental Death & Dismemberment
Do you travel more than three times a year? Consider multi-trip to save you money…click here to learn more.
Do you have a credit card that covers Travel Insurance … click here to learn more about what to check for.
How long can you stay out of the country…read more about not over-extending your stay,
If you have friends or relatives coming to visit in Canada, check to see if they have travel insurance. If you’re not a resident, you won’t be covered.Click her to download the Visitor to Canada brochure.
- Special note to hockey players or teams travelling outside Ontario...click here.
- Most sports are now classified as either (i) contact (ii) adventure or (iii) extreme. Click here to learn more about the Optional Sports Coverages
How Much Does Travel Insurance Cost?
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