Why Travelers Medical Insurance Is An Important Investment

Why Travelers Medical Insurance Is An Important Investment



With the​ many recent bankruptcies in​ the​ travel industry,​ and with the​ increased threat of​ terrorism overseas,​ travel insurance has become one of​ the​ most important investments you​ can make before your next trip.

How much would it​ cost if​ you​ needed to​ cancel your trip or​ come home early? Who would you​ call if​ you​ suddenly fell ill in​ your overseas hotel room? How will you​ navigate the​ local health care system if​ you​ get run over by a​ local bicyclist? Travel insurance can cover a​ lot more than trip cancellation costs and lost luggage.

Unlike most insurance policies that are purchased annually,​ most travel insurance covers a​ single trip. Single trip travel insurance is​ designed for those of​ us who take one main holiday a​ year or​ who prefer to​ have a​ few short breaks from the​ daily grind.

However,​ if​ you​ travel often,​ you​ can purchase a​ multi-trip policy that covers all your travel for a​ specified period of​ time,​ depending on​ your needs. the​ right policy is​ the​ best way to​ minimize the​ financial risks of​ traveling overseas.

Although many people think of​ trip cancellation coverage when they think of​ travel insurance,​ the​ medical element of​ travel insurance may be more important,​ especially if​ your group health plan does not have benefits outside your own country. in​ fact,​ travel Insurance is​ highly recommended by the​ Department of​ Foreign Affairs and Trade for all overseas travel.

Before going abroad,​ learn what medical services your own health insurance will cover overseas. if​ your emergency medical care and transportation are covered by your group health policy,​ you​ may not need a​ separate travel policy that covers your health. However,​ if​ you​ have an​ HMO or​ managed care plan,​ or​ if​ your health care needs are covered by Medicare or​ your national insurance plan,​ you​ should consider an​ international medical policy.

Your first step is​ to​ check with your health insurance company and see what it​ covers. Will they help you​ out if​ you​ lose your prescription medication along with your luggage? Will they help you​ find a​ good hospital or​ an​ English-speaking doctor in​ a​ foreign country? Will they cover emergency evacuations if​ the​ local facilities are unable to​ treat your illness or​ accident?

If your group coverage allows claims from other countries,​ how long will it​ take for you​ to​ be reimbursed,​ and how easy (or difficult) is​ it​ to​ file a​ claim? Once you​ have answers to​ these questions,​ you’ll know if​ you​ should add medical coverage to​ your travel insurance policy.

If you​ travel for business or​ if​ you​ are taking an​ extended trip lasting for several years,​ you​ may need an​ international health insurance policy designed specifically for expatriates and citizens traveling around the​ world. There are many global insurance carriers that offer life,​ health,​ disability and travel insurance to​ individual travelers and to​ companies with employees overseas.

The coverage offered by different international companies will vary a​ great deal from one policy to​ the​ next,​ so carefully review all fine print before making your choice. you​ might also check to​ see if​ the​ company is​ regulated by your own national laws and insurance regulations.

In a​ world where anything can happen,​ travel insurance is​ your ticket to​ safeguarding your trip. Emergency medical travel insurance is​ essential to​ protect yourself,​ your family and your personal finances,​ and to​ give yourself peace of​ mind while enjoying your vacation or​ business trip abroad.




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