Medical Insurance Info

 Travel insurance is a type of insurance that provides special assistance and financial protection for travellers during their trips, covering unexpected, travel-related costs and losses. 

 There are six main categories of travel insurance, with varying degrees of coverage:

1. Trip Insurance – Full Package Plan
2. Major Medical Insurance
3. Travel Medical Insurance – Travel Health Insurance
4. Accident Insurance
5. Emergency Medical Evacuation – Air Ambulance Insurance
6. Trip Cancellation Insurance – Flight Insurance

1.-  Trip Insurance (Full Package Plan)

When buying trip insurance one of the most common and valuable options is to select a full package plan. But, what exactly are you covered for? There are five basic types of coverage provided with a Full Package Insurance, also known as Vacation Insurance:

• Cancelled Trips
• Trip Interruption
• Medical Emergencies Abroad
• Emergency Transportation
• Baggage Loss/Delay

2 & 3.-  Travel Medical insurance and Major Health Insurance.

Both of these insurance types offer medical protection if you get sick or injured while traveling. The only difference between these is the duration of coverage:

• Travel Medical Insurance only offers short-term medical coverage. The duration can be between five days and a year.
• Major Health Insurance is ideal if you plan to travel longer. This insurance can last anywhere from six months to a year, or even longer.

Nonetheless, both help you cover medical expenses, find doctors, hospitals and healthcare facilities close to your location, and provide assistance and foreign language services.

4.- Accident Insurance

 The purpose of Accident Insurance is to cover the risks of injuries caused by sudden, external, and unintentional accidents which may cause temporary or permanent, injuries, illnesses, disability, or death. The main difference between Accident Insurance and Travel Medical insurance is that accident insurance only covers conditions caused by accidents but does not cover pre-existing conditions or illnesses, while travel health insurance usually covers both. 

5.- Emergency Medical Evacuation Insurance

 Air Ambulance Insurance provides coverage for emergency medical evacuations and transportation to medical facilities where you will be treated. If you do not have this insurance, your out-of-pocket expenses can easily reach $30,000.00 USD. It is recommended to purchase this insurance if you will be travelling outside Canada or the US, or to remote areas with difficult access to hospitals or medical facilities. 

6.- Trip Cancellation Insurance

 As the name implies, this insurance provides coverage in case you or your companions need to cancel, interrupt, or delay your trip (or if any of these issues happen unexpectedly). Companies may have different policies that define what is an approved reason for use of the insurance, but the following reasons are commonly covered:

• Sudden war conflicts within the country where you travel.
• Delay in the processing of your visa or passport.
• Illness or serious injuries.
• Weather-related problems (storms, hurricanes, snowfall, etc.)

Likewise, there may be additional coverage in extreme situations:

• Acts of terrorism.
• If your passenger trip carrier, cruise line, or airline closes and cancels its services.
• An accident on the way to the airport.

 Before you decide to buy trip insurance or choose some type of insurance, there are several questions to ask yourself:

• Will you travel abroad?
• Are you planning to participate in extreme sports?
• Can you pay the cost of the trip back home if an emergency arises and you need to return early?
• If you or someone travelling with you gets sick or has an accident, can you pay for the medical care you require?
• In an extreme medical incident, can you pay for emergency air ambulance evacuation?

If you are not prepared, these potential problems could turn your dream vacation into a nightmare.

We know that sometimes it’s tempting to take the easy way and opt to buy the cheapest coverage. However, this is something we don’t recommend doing. Why? Well, first you may not be getting your money’s worth. Second, it is important that you have a high coverage limit on your medical expenses. 

You never know what is going to happen while you’re away. 

Below are some of the possible prices of your cheap travel insurance options:

Cheapest Travel Insurance for Canadians

If you’re a Canadian resident who is planning to take an international trip to Mexico for ten days long and you’re seeking cheap travel insurance in case of an unexpected illness or injury while travelling, your quote will look something like this:

• Allianz Medical Plan $31.26
• CAA Emergency Medical $46.20
• Insuremytrip.com Manulife Global Medical $48.00
• AIG Travel Guard Silver Plan $93.00

Cheapest Travel Insurance for North Americans

If you’re a U.S. resident who is planning to take an international trip to Mexico for ten days long and you’re seeking cheap travel insurance in case of an unexpected illness or injury while travelling, your quote will look something like this:

• Insuremytrip.com IMG Patriot International $16.83
• GeoBlue Voyager Choice $35.97
• Allianz OneTrip Basic $78.00
• AIG Travel Guard Silver Plan $86.00