The Majority of Canadians do not Purchase Travel Insurance
Purchasing travel insurance is one of the easiest decisions you will ever make. However, the sad reality is that many Canadians do not purchase proper coverage before they travel and in some cases medical expenses incurred in foreign countries have forced some families into bankruptcy.
In 2009, CBC News reported that Canadians made nearly 40 million day trips or overnight excursions to the US.1 This number does not include the number of travelers going abroad for vacations or business functions.
In 2012, the Toronto Sun reported that 6 in 10 people2 do not arrange for travel insurance coverage when leaving the country. Traveling without insurance is a risky venture and Canadians pay tens of millions of dollars each year for unexpected injuries or illnesses that require out-of country hospital care; even if only for a day trip.
Why Buy Travel Insurance?
Nearly everyone insures their vehicles, homes and life in the event of an accident, natural disaster or fire. So why are Canadians reluctant to buy travel insurance for the same reasons? Some think it is unnecessary; especially younger people who are generally in very good physical health. Others simply cannot justify the cost….that is, until they experience a problem when they are traveling. Here are a few reasons that you ‘should’ invest in travel insurance:
- Provincial governments cover only minimal expenses for out-of-country healthcare. Claims for those expenses can take months or even years to be settled.
- Accidents happen. They do not discriminate as to who and where they will strike. Something as simple as a broken leg can cost upwards of $20,000.00 in foreign medical expenses.
- In some countries, medical facilities will refuse to treat those that do not have medical insurance coverage.
Manulife Financial offers the following travel insurance options:
- *Out of province/out of country travel insurance for Canadians
- *Visitors to Canada travel insurance
- *Student travel insurance
Travelling Canadians can choose from the following options:
- *Single-Trip Plan: Provides coverage for one trip for the number of days purchased. No age limit but the you will have to answer medical questions if you are over the age of 55.
- *Quick Trip Plan: Provides coverage for one trip of less than 18 days for those 55-74 years of age. There are no eligibility questions for this option.
- *Multi-Trip Plan: Provides coverage for an unlimited number of trips during the policy year for the number of days purchased. Options of 4, 10, 18 and 30 day plans. No age limit.
- *All-Inclusive Plan: Provides several benefits all in one plan. It covers Emergency Medical, Trip Cancellation & Interruption, Baggage Loss, Delay & Damage, Flight Accident and Travel Accident.
- *Travel Canada Plan: Provides Emergency Medical Insurance if all travel is within Canada at 50% off the regular Single-Trip Emergency Medical Plan rates.
- *Trip Cancellation/Interruption Plan: May be purchased as part of an All-Inclusive Plan or separately. If purchasing separately, must be purchased within 8 days of booking your travel plans.
Click here to purchase Manulife Travel Insurance for out of province or out of country travel.
Emergency Medical Insurance for Visitors to Canada is ideal for:
- *Visitors to Canada
- *Canadians who are not eligible for benefits under a government insurance plan
- *Persons who are in Canada on a work visa
- *New immigrants who are awaiting government health insurance plan coverage
Click here to purchase Visitor's to Canada Insurance from Manulife Financial.
Student Travel Insurance offers:
- *Up to $1 million for emergency medical and non-medical coverage for covered risks
- *Available to Canadian students studying abroad or out of province and International students studying within Canada.
Click here to purchase Student Travel Insurance from Manulife Financial.