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Remove Uncertainty When Buying Travel Insurance

14 September, 2015 | Travel Medical Insurance

There's a good reason why many people are averse to uncertainty. That a word even exists is beyond me. Yet everywhere you go, the world is full of it. In the travel insurance industry, uncertainty gives a sense of foreboding. It's a mistake to assume you would already be covered with just three or four questions plus your credit card number.

Unless you have a claim, the process is relatively easy but it can eventually turn difficult. Before you know it, you have several pages of information you need to disclose to your insurance provider – otherwise known as “claims underwriting.” It pays to read your travel insurance policy and understand every provision. The claim adjuster may shift roles, from paying your claim to trying to prevent its payment. Be very cautious with short applications with very few questions. Medipac's application has lots of questions and clients are urged to not only read carefully but answer honestly. This makes the word “uncertainty” almost null and void.

Before filling in an application, it helps to do your research and mull over things first. Your travel insurance company must furnish you a copy of your policy and urge you to read from the first to the last page. The policy serves as a disclaimer for it lists down the reasons why shouldn't purchase it. To remove all doubts and uncertainty, never fill out an application until you have read, understood and accepted the policy.

Complicated questions that are headache-inducing spell uncertainty and this could make or break your coverage. Jargons like “ejection fraction” and “TIA”, suspicions that the doctor may not have told you everything about your symptoms, the actual purpose of the drugs you're taking – all these cause uncertainty. The only way to clear the air is to discuss these questions with your doctor.

You're already aware that Medipac's emergency medical lines are handled by nurses and doctors. If you intend to purchase another travel insurance plan, will a medical professional be ready to offer assistance at the end of the line? Be careful with travel insurance providers that let third party companies handle their emergency hotlines. This will delay resolution. Medical emergencies should always be addressed by individuals in the medical field. This removes one more source of uncertainty.

Even in a recent Travel Health Insurance Association (THIA) conference, the atmosphere was filled with uncertainty. The reinsurer of a travel insurance voiced out his dismay over the industry's substantial losses, spurred on by an excessive amount of $500,000 and $200,000 claims. Difficult decisions had to be made especially in the area of pricing.

But what gives? Travel insurance – nay, insurance – has always been about risks. The only way to dilute the impact of uncertainty and unexpected events is to multiply the risk. Medipac will continue to do its best for you this year (as we always have). So take advantage of our travel insurance programs and get rid of uncertainty.

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