No one wants to have a medical emergency while on vacation or a business trip, but travel insurance can help make the situation easier to manage.
These days, travel insurance is essential. If you get sick or injured while travelling abroad, government health insurance plans pay only a small fraction of your medical expenses.
Some hospitals may charge thousands of dollars a day, not including doctors' fees or diagnostic services. Without emergency health and medical insurance, you would be responsible for these expenses, so make sure you have the coverage you need before you leave home.
Also, keep in mind that travel insurance does not cover everything; there are certain conditions, exclusions and limitations. Make sure your read over your insurance policy carefully before you travel and talk to your Financial Advisor if you have any questions.
What to do in a travel emergency
Before you leave, it’s a good idea to have a plan laid out as to what you can do.
- Program the contact information for the country’s Canadian embassy into your phone. If there is a political upheaval or a natural disaster in the country you’re visiting, contact the embassy to get instructions on what you should do.
- If you are travelling alone and have a medical emergency, contact your travel insurance provider and inform them immediately. If you do not have travel insurance for medical expenses, negotiate with the medical facility as to what you can do to get temporary treatment and continue your care in Canada.
- If you lose your passport or other crucial travel documents, contact the Canadian embassy.
For more information on travel insurance, talk to your Financial Advisor.