Jeffrey Wade
CanAm Insurance Services (2018) Limited offers travel medical insurance plans for Canadians travelling abroad, within their home country, or those visiting Canada. CanAm Insurance Services administers individual insurance plans such as the TD Insurance Multi-Trip All-Inclusive Plan, TD Insurance Single-Trip Medical Plan, and TD Insurance Trip Cancellation & Interruption Plan. The TD Insurance Travel Insurance plans provide multiple benefits, including up to $10 million in emergency travel medical coverage, trip cancellation, and interruption for multiple covered trips within a year. CanAm Insurance Services also owns and operates PrimeLink Insurance, which offers medically underwritten travel insurance plans for Canadians of all ages and medical histories.
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What You'll Learn
Single-Trip and Annual Multi-Trip Plans
When considering travel insurance, you have to decide between an annual plan that covers all your trips for a year, or a single-trip plan that covers one specific journey. The best option for you depends on your travel style, budget, and plans. Single-trip plans offer primary emergency medical benefits, meaning your travel insurance benefits pay for covered medical emergency care costs up to your plan maximum without involving your regular health insurance plan. Multi-trip plans offer secondary emergency medical benefits, meaning your personal health insurance plan will be billed first, and you will have to pay any co-pays and/or deductibles. Single-trip plans can also protect longer journeys, so check the maximum trip length before purchasing your plan.
Multi-trip or annual travel insurance policies cover multiple trips over a specific time frame and are generally cheaper than single-trip policies. They have less coverage than single-trip policies, which generally include baggage loss or rental car insurance. Annual plans tend to focus on medical emergencies, whereas individual plans offer more comprehensive travel-related coverage. For example, Allianz's lowest-cost option (Basic) provided $20,000 in emergency medical and $1,000 for baggage loss, as well as $45,000 for rental car insurance.
Annual travel insurance can be a good option for those who frequently travel for business or leisure and want to ensure they are always covered. It is also a wise purchase if you plan to take multiple short getaways over a year. However, it is important to note that annual travel insurance plans tend to come with lower coverage limits than single-trip plans, and you may have to pay a premium for coverage that includes high limits for medical expenses and emergency evacuation.
When purchasing single-trip insurance, it is important to get insurance for trip interruption, lost luggage, and document replacement. You may also want to consider trip cancellation insurance. It is your responsibility to understand the terms of your insurance policy, so be sure to read the fine print. When purchasing annual insurance, it is important to note that many travel insurance plans limit the amount of time you can spend on each trip. For example, Heymondo's 12-month plan stipulates that your trip duration be less than 60 days. Other plans may only apply outside the United States, such as GeoBlue, whose travel medical insurance doesn't cover you when you're in your home country.
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Pre-existing medical conditions
When shopping for travel insurance with pre-existing conditions, it is crucial to carefully review the policy documents for detailed coverage. Some plans may provide coverage for certain stable, controlled pre-existing conditions, while others may not cover any pre-existing conditions at all. It is essential to find a plan that suits your specific needs and meets your requirements.
Many travel insurance companies offer policies with a pre-existing medical condition exclusion waiver, which can be crucial for protecting yourself from significant out-of-pocket expenses. This waiver lifts the exclusion of pre-existing conditions for travel insurance medical claims and related coverage. To obtain this waiver, it is generally required that you purchase the policy within a specified timeframe, usually within 14 to 21 days of making the initial trip deposit, and insure your entire trip cost to protect your non-refundable expenses. Additionally, your pre-existing condition must be stable at the policy's effective date, and you may need to provide a doctor's note indicating you are cleared to travel.
There are several recommended travel insurance plans for those with pre-existing conditions. Allianz Global Assistance offers plans that include abundant coverage for emergency medical expenses overseas, as well as emergency medical transportation benefits. Their OneTrip Prime Plan includes coverage of up to $50,000 for emergency medical expenses and up to $500,000 for transportation to the nearest appropriate medical facility or to return home. SafeTrip by UHC SafeTrip is another option that provides access to local-level intelligence on doctors and hospitals in the areas on your itinerary, as well as a 24/7 Emergency Response Center (ERC) that can assist with language translations and lost travel documents.
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Medical evacuation
The exact terms of medical evacuation insurance vary by policy, but in general, this type of insurance covers the cost of transportation to the nearest adequate medical facility. The term "adequate" can be relative, and a medical facility that does not meet your personal standards may still be considered adequate by your insurer. Most policies cover transportation to a treatment centre, but they may not pay for a flight back home to see your regular doctor. However, if your condition is deemed untreatable locally or severe enough to warrant a return home, medical evacuation insurance will typically cover the cost of transportation.
The cost of medical evacuation insurance varies, with most coverage starting at $100,000 per year. However, this may not be sufficient, as the average cost of an emergency helicopter ride is about $40,000, and flights to remote areas can be significantly more expensive. Some policies offer coverage of up to $1 million or $2 million per person. It is important to note that your existing insurance policy may not cover the cost of an air ambulance, so having medical evacuation insurance can provide valuable peace of mind.
When purchasing medical evacuation insurance, it is important to consider the specific benefits, limits, and exclusions of the policy. Compare the terms and conditions of the policy with those of your existing insurance plans, including life, health, home, and automobile insurance. Additionally, ensure that the insurance company has a 24-hour emergency contact line that you and your medical providers can reach in case of an emergency.
In conclusion, medical evacuation insurance is a crucial component of travel insurance, providing coverage for emergency transportation to medical facilities. By understanding the terms, benefits, and limitations of your policy, you can ensure that you have the necessary protection in case of unexpected medical situations during your travels.
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Trip cancellation and interruption
Trip cancellation insurance provides coverage for prepaid, non-refundable trip costs if you need to cancel your trip before it starts due to a covered reason. Covered reasons for trip cancellation can vary but typically include unforeseen illness or injury of the traveller or a travelling companion, inclement weather, and natural disasters. Some plans may also offer coverage for other events such as flight changes or cancellations.
Trip interruption insurance, on the other hand, provides coverage after you have departed on your trip. It reimburses you for the unused portion of your trip if you need to return home early due to an unforeseen incident. Covered reasons for trip interruption are similar to those for trip cancellation, including illness or injury, but they occur during the trip rather than before departure.
When considering trip cancellation and interruption insurance, it is important to review the specific terms, conditions, limitations, and exclusions of the policy. The benefits provided can vary by insurer, so it is advisable to understand what is covered before purchasing. Additionally, some policies may have requirements for reporting cancellations or interruptions within a specified time frame.
To determine if you need trip cancellation and interruption insurance, consider your personal circumstances. Factors such as international travel, multiple layovers, and the cost of non-refundable purchases can influence your decision. It is also worth reviewing any existing insurance coverage you may have through your credit card, healthcare, homeowner's, or other insurance plans to ensure you are not paying for duplicate coverage.
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Provincial or territorial health plans
Canada has 13 separate provincial and territorial health care insurance plans. These plans cover all residents for medically necessary services, including when they travel within Canada. There is also limited coverage for travel outside of the country. When a resident moves to another province, they can use their original health care insurance card for three months, giving them time to register for a new plan.
The public health care system is designed to ensure all Canadian residents have reasonable access to health and dental care. Provincial and territorial plans pay for basic healthcare and dental services, but what is covered varies depending on the region. Generally, these plans cover visits to the hospital or doctor, but may not cover other healthcare or paramedical services.
Provincial and territorial health plans may cover none or only a small part of the costs of medical care abroad, including medical evacuation. Therefore, it is important to purchase separate travel health insurance when travelling outside of Canada. This will ensure that you are covered for unexpected costs, such as emergency hospital/medical costs, trip cancellation, and lost baggage.
When purchasing travel health insurance, it is important to read the fine print and understand the terms of your policy. Make sure that your plan covers medical evacuation to Canada or the nearest place with medical care. It should also cover the costs of a medical escort. Additionally, check if your plan covers pre-existing medical conditions and if it offers continuous coverage for the length of your stay outside Canada.
Many employers in Canada offer workplace benefits that can be extended to cover a spouse and dependents. These benefits typically cover health, dental, vision, and prescription drugs.
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