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Saturday, December 1, 2012

Reasons Why Travel Insurance Is Important

There are few things more exciting, memorable and incredible than travelling overseas. As the world becomes more and more connected, there is an infinite number of possibilities for travel to interesting destinations and the possibility of involvement in some unique and exciting activities.

Quite surprisingly however, there are those that still view travel insurance as an 'optional extra'. After saving and investing money in the trip of a lifetime, it is foolish to overlook the need for cover, particularly when cheap and tailored policies are available.

Naturally, no one hopes that they will be so negatively affected while on holiday that they have cause to use the cover in which they have invested. However, simply having a policy in place provides the peace of mind that, should something unforeseen or something less than desirable occur, you are appropriately protected and will experience minimal disadvantage.

Just as we take out insurance for our homes, cars, lives and health, travel cover is a most important safeguard. It follows then that the Australian Department of Foreign Affairs and Trade (DFAT) strongly advises all Australians to have it in place before travelling overseas.

Another piece of good news is that protection need not be exorbitantly priced. There are numerous options available, many of which are affordable and provide appropriate cover for the typical traveller. Also, it can be purchased and made active in minimal time. If you combine time and cost effectiveness, this results in minimal inconvenience and stress - inconvenience and stress are two things you definitely do not need before travelling.

So, why is travel cover so important?

* Every year, DFAT becomes involved in the cases of more than 20,000 Australians who experience difficulty while overseas. Having to go to hospital or be evacuated from one country in order to receive medical care in another can be incredibly expensive. Without appropriate insurance, the cost can be so great that families can find themselves having to sell their homes in order to cover the bills.

* Some Australians also fall into the trap of thinking 'I am not away for long' or 'I am coming home soon' or the big one: 'What could possibly go wrong?'. The problem here is that you never can predict when something unfortunate may occur. It is tragic but too common that, while abroad, people are injured or otherwise disadvantaged in 'safe' countries and while doing things as mundane and simple as crossing a road.

* Travellers who do not have appropriate cover are sometimes surprised to find that they are personally liable for medical costs that they incur whilst overseas. They are also surprised to find that these costs are far greater than anticipated and so great that they can cause extreme financial hardship.

* Without insurance, there is also the risk of being held liable for injuries that befall others. For example, you may be incredibly fit and experienced, but while skiing you collide with another person on the ski field. Not only may you be held responsible for the injuries that this person sustains, without the appropriate protection, you may also be financially responsible for their lost income as they recuperate and recover.

* Perhaps most importantly, being prepared affords you with the knowledge and confidence that, should an awful or unexpected event occur while you are travelling overseas, you will be protected and looked after. Of course no one hopes that they will ever have to use their insurance cover, but it is amazing how much comfort the appropriate insurance can provide if things do go wrong.

When these reasons are taken into account, it is apparent that travel insurance provides many benefits for a comparatively small price. The risks of travelling without it are simply not worth it.

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Information on the Super Visa Medical Insurance Requirement

Making it quicker and simpler for relatives to get back together with their parents or grandparents, the Canadian federal government released the latest visa in December 2011. The Parent and Grandparent Super Visa allows for the parent or grandparent associated with a Canadian citizen to stay in Canada for as many as two years at a stretch, without renewing their status. The Super Visa is mostly a multiple admittance visa and its in force for ten years.

As with several visa application, there are various requirements. One of the most talked about requirement of the new Super Visa would be the medical insurance requirement. Seekers of the visa need to prove they possess Canadian health insurance coverage (also known as Super Visa insurance). Particularly, the insurance plan must:

1. Be valid for a minimum duration of one year from the date of entry to Canada; 2. Provide at the least $100,000 coverage, and; 3. Must cover healthcare, hospitalization and repatriation

Canadian Immigration Minister Jason Kenney said "One of the reasons we are requiring that people demonstrate they have health insurance when they come into Canada, is to add greater certainty for our visa officers that admitting people is not going to end up representing a net cost to Canadian taxpayers." Minister Kenney continued to mention that the new health insurance requirement may make it easier for visa officers to say "yes."

Health costs in Canada are some of the most expensive on the globe. The median hospital stay in Canada costs around $7,000, and much more for patients with an underlying complication. Prescription drugs will add considerably to expenses. All Canadian residents are universally protected by provincial and territorial health coverage plans, and the costs of these plans are funded through income taxes. Non-Canadian residents usually are not entitled to provincial or territorial coverage.

With regards to the minimum amount of coverage requirement, the ministry said it considered what other nations require for medical coverage and the average expense of healthcare services to produce the $100,000 requirement. As one administrator of Citizenship and Immigration put it, "It was determined $100,000 would be fair to the applicant and the Canadian taxpayer."

Applicants must buy their medical insurance BEFORE the Super Visa is issued as proof of insurance. Picking the effective date of the insurance policy is somewhat challenging, provided that evidence of insurance has to be submitted with the visa application (hence the visa has not yet been granted). However, this difficulty has a feasible solution. Most insurance policies come with an effective date of 90 days after the date the insurance policy was bought, which provides applicants ample time to make changes to the insurance policy. Changing the date of the policy is simple and typically only requires a quick call to the insurance provider. The first day of insurance protection needs to be the day that the parent or grandparent comes to Canada. The one year coverage begins from that day on.

For those parents or grandparents who return home ahead of time (i.e. before staying for the full year), some relief is accessible. Most insurance companies will give you a partial refund for that piece of the insurance not used (provided there was no prior claims). Also, whenever a Super Visa application is turned down for whatever reason, the applicant is eligible to receive 100% of the premium which was paid for the visa insurance protection.

Overall, the new Super Visa program is seen by many people as a good step forward. However, the program is still in its infancy and will probably see some changes to improve the procedure down the road.

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Age Is No Barrier to Travel

Getting travel insurance alone for a young and healthy individual can be quite of a challenge, you have to fill out countless forms, undergo the medical screening process and more. Did it ever come to mind just how challenging it would be for a senior applying for travel insurance? Don't feel discouraged though, as tough as it may seem just by visualizing it, that's why over the recent years, specialty plans for senior citizens would accommodate individuals aged as high as even 80.

What are these specialty plans?

Due to the simple fact that more likely a senior citizen would end up filing an insurance claim rather than a younger individual, this causes a loss for the company. So the results are them raising the costs and reducing the benefits for older individuals. That's when you should consider these specialty plans wherein the programs are a whole lot more flexible and specifically tailored for the needs of an older traveler. Things to be considered is looking for a plan that would cover your pre-existing medical conditions, without this would put you in a major discomfort if something does go wrong during your trip. Specialty plans also raise the age limit even as high as 75 or 80, which surely does take care of your number one priority.

What to look for in a special insurance program?

International travel can be an exciting adventure, but it can also bring many unpredictable situations if you should need medical care while you're abroad. A special insurance program should mostly feature some of these benefits:

Special Risk Insurance - wherein resources to ease the stress of an unfamiliar culture of medical system for those above 50 or depending on the health status as well are covered.

International Accident Life Insurance - this mainly covers all forms of accidents in another country, a program also featured on mostly any travel insurance plan. Only difference is that when you are at an older state, your body isn't the same as it had been before and is more prone to accidents. This results to common travel insurance companies to increase the cost. So special travel insurance lowers the costs but give the same level of benefits.

So if you think being a senior citizen would be hard to get access to insurance, you just need to be aware of other plans out there, special insurance plans are less costly than the common travel insurance companies. So ease off, and do remember that age is never a barrier to travel. When in your golden years enjoy yourself.

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Multi Trip Travel Health Insurance

As you consider spending quality time with family and friends during holidays, you must not forget to make sure that you have all the things sorted in case any medical or health related emergency surfaces. Availing a traveler's health insurance is an easy task as there are several service providers who make various options available for every possible need. It works really well in case any problematic situation arises during travelling and it is suggested that anyone looking for investing in a travel medical insurance checks with all the medical insurance companies before making up their mind.

Oftentimes there are incidences like loss of luggage in frisking, trip cancellation, severe medical or health related problem that can be managed with a traveler's insurance policies catering to people's specific needs. These policies also cover compensation for delay or loss of belongings. Amongst other insurance policies,travel medical insurance policies provide the requisite coverage for travelling concerns. Such policies and schemes are also inclusive of payments that can get the patient back home if the situation calls for it.

These policies vary in terms of weather any extra amount shall be levied upon the policy holder in case medical evacuation involves services of air ambulance or a medical team accompanying the patient. The traveler may opt to go for other additional benefits that he or she would like to make a part of his or her travel insurance package.

Being equipped with appropriate insurance policy gives the traveler an added security for when the emergency strikes. Medical insurance companies design these policies to manage a number of health related risks that can be expected from travelling. It provides necessary financial and medical security to the traveler. It specifically provides coverage for emergency hospitalization to emergency air evacuations from beginning to end of the trip, hence the policy provides coverage for almost the entire trip. You need to only select the maximum number of days you plan to be away on any one trip. Then travel worry free as many times as you like during the year. Frequent Travelers looking for evacuation and medical coverage, when outside of their fixed permanent residence, should double check upon various details before making a purchase.

In nutshell, you have to ascertain that you and your family's health are secured against serious medical expenses that could hamper your financial well being. Traveler's health insurance can help travelers when additional costs are incurred due to sudden unwanted incidences in the travel plan.

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Traveling With Visitor Travel Insurance

If you happen to get sick while you are on vacation, you may not be able to come up with the extra money to pay your medical bill. We all pay way too much money for healthcare in the United States. Imagine for a moment if you were to travel outside of the United States where your medical insurance is not covered. Because of this, many people are considering purchasing visitor medical insurance so they are protected just in case.

Visitor Travel Insurance is basically a short-term medical plan that will cover you until your vacation is over. This will cover anything from an auto accident to a common cold. You can either choose to purchase this type of medical insurance before you leave for vacation or even while you are on vacation. Whether you are going for a short-term vacation or a long-term vacation, you will easily be able to find a plan for you. Do not hesitate to shop around a little bit he for you decide on a plan. This way, you will be able to find exactly what you need and also what you can afford.

If you are traveling to the United States of America, it may be common for your own country to ask you to have some type of medical coverage to prevent you from getting sick. It is common for an insurance company to not be willing to cover you for something that you may have contracted while outside of your own country. Because of this, it is always a good idea to have a good insurance plan so that you know for sure that you are completely covered in case of some type of emergency.

You may consider looking on the Internet for the best variety of insurance plans for your situation. This is definitely the best place to get a wide variety of insurance plans that you can customize to your needs. Of course, you may have to fill out a questionnaire so that they know exactly what your health history is like. If you are traveling with your family, you may consider covering your spouse as well as your children just in case.

Of course, most websites are going to work with other websites so that you can get multiple quotes at the same time. This way, you will be able to find exactly what you need without a lot of headache of searching different websites. This is also the best way for companies to fight for your business. You will also be able to find the perfect coverage for your situation when you have all of the companies laid out in front of you.

It is important to remember that if you find out that your trip is going to last longer than what you have coverage for, you either call the company or get online so that you can ask for a renewal. This may possibly take a couple of weeks in order to get everything situated. Therefore, as soon as you find out that your trip is going to last longer, get on the phone or on the Internet and make it happen.

Any time you are vacationing to the United States or even Canada, make sure that you have enough money to pay for any type of medical treatment that you may come across. This way, you will not have to worry about whether or not your visitor medical insurance is going to pick up the tab. This is the best way to insure that you have a wonderful vacation where you can relax and get the rest that you deserve.

What Is Snowbird Travel Insurance?

Every fall millions of ducks, geese, robins and other birds start their journey from Canada, and head down south to enjoy the warm weather that graces our southerly neighbours. It isn't long after that, the Canadian people (known as snowbirds) begin their migration south as well. It is estimated that somewhere between 800,000 to 1.7 million Canadians migrate south for the winter. Different studies account for the large difference in numbers. Regardless though, a LOT of people are what we refer to as "snowbirds". If you are planning to spend your winters in the south you should seriously consider health insurance targeted towards these Snowbirds.

What is Snowbird Insurance?

Snowbird insurance is targeted to those people who spend their winters in the Southern US or Mexico. It is used to supplement your provincial health insurance plan's out of province coverage. These insurance policies will cover you in case of medical emergencies. A good policy will cover your medical expenses as well as any extra costs directly caused due to the emergency (i.e. extra hotel costs if you can't travel).

Why Should I Consider Snowbird Insurance?

People should always be prepared for the worst. While a medical emergency is never fun, it certainly shouldn't leave you financially crippled. If you choose to avoid Snowbird insurance and are stuck with a medical emergency in a country like the USA, you will be looking at a huge bill. In some American hospitals, daily hospital costs could be thousands of dollars.

Many anowbirds also happen to be seniors. It is even more important for them to have insurance, because emergencies are more likely. When you are a senior and you sit down with an insurance broker, many times you will be asked to fill out a questionnaire. This will allow the broker to find the best premiums, as well as ensure the coverage suits his client's potential needs.

If you are one of the lucky Canadians who is able to spend the harsh winters in relative paradise, then make sure you are fully prepared. Preparing for the worst case scenario with some sort of travel insurance is worth the price alone for peace of mind. If something does happen, it will be worth far more than that when your emergency costs are covered. Snowbird insurance is a wise choice for anyone who travels South for the winter. While it is exceptionally important for seniors, it should still be a priority for all long term travelers.