4 Things You Didn't Know About Travel Insurance

June 16, 2022
Or maybe you do, and you find them frustrating!

The world is finally opening back up, and travel is on everyone’s mind. Whether it’s somewhere close to home, like a neighbouring province, or farther afield, like Maui, that itch that we haven’t been able to scratch is gone at long last! But with travel comes risk, especially given the complications from the last few years. Even outside of COVID-19, it’s important to ensure that any unforeseen circumstances are taken care of before leaving home. Travel insurance is necessary to ensure that you and your loved ones are protected so that you can focus on enjoying the journey.

Travel insurance, like other types of insurance, is complicated; there are rules and stipulations that might not seem like a big deal when purchasing your plan, but can come back to bite you if you need to use your coverage. Here are a few things to think about when purchasing your travel coverage that you might not have thought of before (or maybe you have, and you want another way to protect yourself!):

1. Pre-Existing Condition Clauses

The dreaded pre-existing condition clause. If you have ever been to a physician, you may be at risk of having your travel policy exclude coverage for any issues arising from a condition that you have sought treatment for previously. It’s rare for someone to have an impeccable bill of health, and if there is something in your past or present that causes issues from time to time, you want to make sure that you have coverage in case of an out-of-country emergency. Suppose your travel insurance doesn’t exclude coverage for any pre-existing conditions. In that case, you are likely to pay an arm and a leg to ensure that you have peace of mind knowing that you are prepared for any situation that may arise while on vacation.

2. Stability Period

It’s common for plans to include a stability period clause, which would keep you homebound for an extended time following a medical event, regardless of whether you have been cleared for travel by your Physician. Even a condition that is stabilized with routine medication may disqualify you from coverage if you want to leave home within the timeframe that the travel insurer allows.

3. Medical Application

No matter your age or health status, travel insurance carriers will always ask you to fill out their medical forms before they quote a plan for you. If you make a mistake on their form, or if something isn’t filled out completely, you may be in for a hassle if you need to make use of your plan. On top of that, whenever you want to leave your home province, you must complete their questionnaire again. If something happens between vacations, you run the risk of paying higher premiums than you should, or being denied coverage outright.

4. High cost

It’s no secret that travel insurance is expensive, especially in the later stages of life when you have the time and money to explore the world. Costs are based on your age and health status and can often be more expensive than the trip itself.

Travel insurance, while it has its challenges, is necessary to protect yourself from the unseen when travelling outside of your home province. These hurdles aren’t insurmountable but do often cause significant frustration when all you want to do is enjoy a vacation.

Sagium has partnered with VUMI Canada, a world-renowned provider of Enhanced Health Care solutions, to offer a program that is affordable, doesn’t require any medical questions, and provides access to immediate healthcare anywhere in the world. Contact us today if you’re interested in learning more about this product!

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