TRAVEL INSURANCE
Could You Afford A Million-Dollar Hospital Bill?
Questions To Ask About Travel Insurance
Consider the following questions:
• Are you relying on your doctor to tell you whether or not you can travel?
• Have you had any changes in your medical history that the insurance company may be unaware of?
• Are you traveling to a location in which the Canadian government has issued a travel advisory notice?
• Do you have any pre-existing medical conditions?
• Have you been prescribed any new medications or changed dosages on current medications in the last six months?
• Is your travel insurance up-to-date? If so, do you know what it includes?
If you answered yes to any of the above questions, your travel insurance coverage might be in doubt. Now you have to ask yourself: Is that a risk that you can live with?
Danny Corriveau, President of Cooke Capital, has a passion for consulting with businesses, large and small, seeking customized Group Health Plan solutions. His experience serving a broad client base enables Danny to respond quickly to the unique needs of both employers and employees enhancing long-term prosperity for his clients.
Many times, individuals will rely on the fact that they have insurance to be enough when, in reality, the type and extent of that insurance is much more important. Simply having insurance is not enough. If you have a change in medical condition, you need to check how this might affect your coverage before deciding to travel or else it could end up being very costly.
Some time ago, I remember reading a story about a Canadian family who were hit hard by a health issue while traveling. Put yourself, for a moment, in the shoes of a Saskatchewan mother who relied on her travel insurance when she went to the United States. She purchased travel insurance prior to going, got a green light to travel from her doctor, but never received a questionnaire from her insurance company. While traveling, she prematurely gave birth in the United States. That birth ended up costing her over $ 900,000 in medical bills after her insurance denied her claim due to a pre-existing condition. Could you afford to have something like this happen to you? How might that impact your financial future?
BY: DANNY CORRIVEAU, COOKE CAPITAL
While this situation may seem unique and extreme, it isn’ t. Many people put themselves in that position without realizing it. The most common mistake is assuming that because your doctor has told you it is okay to travel, you are in the clear. Unfortunately, insurance companies have a different set of standards. What would happen to your business if you were to be saddled with huge medical expenses incurred in a foreign country?
For anyone who travels on a regular basis, particularly business owners, it is essential that you have an understanding of what travel insurance is and what it covers. There are many different types of travel insurance policies, so each individual policy is going to be unique. A general understanding is crucial to knowing which questions you should ask regarding your specific case.
Ultimately, travel insurance is meant to protect you while you travel. It is important that you understand the limitations of your policy to avoid unpleasant surprises and putting your financial well-being at risk.
Before you travel, please take the time to review your policy and ask the right questions to ensure you avoid unwanted surprises. For more information or to find out more about travel insurance, contact our office at 800-566-5666. +
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