Just search the web and you will find some horror stories about travel insurance. If you are travelling outside of Canada in the next little while make sure you understand what you have for Travel Medical Insurance.
Here are a couple of tips:
1.) Check your coverage. If you are depending on the coverage through your Credit Card or group plan at work read the fine print. There are limitations to this coverage, especially with the maximum days per trip it will cover. Most credit cards offer some level of travel medical insurance for short trips of 5-10 days, but keep in mind that, most companies have limitations for cardholders over the age of 65 (read the fine print).
2.) Make sure you have the Travel Card with you that includes the policy number along with the 1-800 number so that you can call your provider as soon as you may need medical help. Most providers of Travel Insurance will limit your coverage if you do not call them within 24-48 hours of a claim.
3.) If you are applying for Travel Insurance for a single trip or buying a multi-trip plan make sure you are covered for the actual days you will be away, including the day you leave and the day you return. Note: You cannot get travel insurance once you have left Canada. And, answer the questions honestly and accurately.
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4.) Don't travel without Emergency Travel Insurance - the costs of medical care outside of Canada can be ridiculously expensive. Buying travel insurance is not that costly in comparison. I know of many people who have made claims while in the US and their insurance covered them.
If you need some help with Emergency Medical Travel Insurance please contact us and we can help you get the right coverage for you and your family. Call us at 587-755-0159 for a quote.
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Retirement Income, Investment & Tax Planning,
Willis J Langford BA, MA, CFP
Nancy Langford CRS
