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5 Facts About Travel Insurance

11 November, 2015 | Travel Insurance

1. Travel insurance is a financial buffer against unexpected circumstances that catch you off-guard during your trip. Not all travel insurance policies will cover pre-existing medical conditions. Depending on the travel insurance company you had an agreement with and the medical conditions you do or do not have, policies differ from person to person.

2. If you have a high-risk pre-existing condition such as a chronic debilitating illness or have been found to suffer from factors that may likely trigger a grave disease, your policy application may not be granted. Many travel insurance companies require their customers to answer medical questionnaires in hopes of knowing the real state of their health especially major existing conditions. Your insurer needs your detailed medical history so they can present you with the appropriate coverage.

3. Certain travel insurance policies provide general coverage but exclude pre-existing conditions. If your pre-existing condition causes discomfort or poses a degree of risk, then such policies will not do. Others are more considerate and cover pre-existing conditions for customers who buy travel insurance within a certain period from the date the trip was booked. Investigate which travel insurance companies offer such policies. Otherwise, you'll have to go through the hassles of medical examinations and paying an extra travel medical insurance premium.

4. Applying for travel insurance is rather difficult for individuals aged 56 above. The age by itself is tantamount to a pre-existing condition. Some insurance providers set a cutoff for those between 55 and over 70, letting them purchase travel insurance without additional premium or medical assessments. The higher your age, the higher your premium, notwithstanding your pre-existing conditions or claim deductibles.

5. Despite the rarity of medical evacuations, the financial costs involved in transporting an individual from one medical facility to another are huge. Whereas if you buy a travel medical insurance with an emergency evacuation coverage, you'd be able to save more. The cost of getting covered isn't even half the actual cost of medical evacuation. Many people have universal medical travel insurance coverage but rarely do these plans include international medical evacuation. However, you never know what sort of emergencies you run into during your trip. It's best to cover all grounds by adding medical evacuation to your travel insurance plan.

 

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