Travel Insurance
When you travel outside Canada, you leave up to 90% of your government health insurance plan behind. Government plans also typically cover only a limited portion of medical costs once you leave your home province or territory, even if you are still in Canada.
Consider the benefits:
Your OHIP plan does not cover any emergency medical expenses outside of your province of residence
Most health insurance plans reimburse a very small portion of what a total bill could actually be, they do not provide payment directly to foreign hospitals, they may have a deductible, and/or will not cover the cost of emergency medical transportation.
Your Government Health Insurance Plan does not provide upfront payment for emergency medical care, regardless of where you are. In addition, government plans do not guarantee coverage for special care (e.g. air ambulance or emergency dental services).
Your credit card coverage my be limited
Some credit cards provide emergency medical insurance when you are travelling outside Canada or your province/territory of residence; however, there may be important distinctions between what travel insurance covers and what your credit card's insurance plan covers.
For example, with a credit card, coverage might only apply to trips purchased on the card or be limited to a fewer number of travel days.
Before you take a trip, it is a good idea to review any coverage provided by your credit card, some of them may exclude any health-related conditions that existed prior to your departure date or will only cover you in case of accident.
Your retirement package/ employee benefits plan coverage my be limited
As a retiree, you may not even have access to travel insurance coverage any longer and with health insurance under an employee benefits plan, out-of-country medical coverage may not be available, may not cover a spouse or dependents and often has limits on the number of travel days covered and amounts payable.
You may also find out that you are not covered in case of trip cancellation, trip interruption, baggage loss, etc. It is a good idea for you to review your coverage prior to your departure.
You can also get stand alone coverage for the following:
1. Emergency medical & hospital coverage
2. Trip Cancellation and Interruption Insurance
3. Baggage and Personal Effects Insurance
4. Rental Car Physical Damage Insurance
5. Flight Accident Insurance
With travel insurance, you will actually be able to enjoy your vacation or overseas trip without the added headaches. There are many travel insurance providers out there, and since we are independent, we can look around. We will find what works best for your situation.
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Why not find out how much it will cost you: