Now that December has arrived, many of us are thinking of going on vacation! It’s important to remember that without travel insurance you may end up paying a large medical bill for even the smallest of medical emergencies.
The following is a list of tips I’ve put together:
- Check your credit cards or your group insurance at work to see if travel insurance is already included.
- If your current insurance policy includes travel insurance, call your insurer to determine the maximum number of travel days included as part of your coverage.
- Discuss the main coverage, limits and exclusions with your advisor. Particularly if you have a health condition.
- If you have a current medical condition, inquire if your policy will cover your pre-existing condition.
- Make sure to speak with your advisor if you have consulted a physician in the past 6 months, if your health is unstable or if your medication has been adjustment or changed.
- If you are travelling as a family, inquire about family plans which are generally more affordable than buying individual plans.
- Ask your advisor if adjusting the deductible will lower your cost.
- Be honest. Complete the application as honestly and as accurately as possible.
If you have other suggestions or questions, please include them in the comments below!
Daniel Enayatzadeh is a Financial Security Advisor specializing in investment and insurance planning. He can be reached at 514-996-9400 or at email@example.com