A study released by the Bank of
Montreal (BMO) on March 24, 2015 examines why and how Canadians use travel
insurance.
One of the findings of the study
is that 36% of Canadians do end up requiring medical attention while they are
on vacation, and that many have had to file a claim when they returned home in
order to recover out-of-pocket expenses. Among those with travel insurance, 76%
described the claims process as "easy" and none of those surveyed had
their claims rejected. BMO says that 74% of those who had filed claims received
the full balance of what was owed and 26% were partially reimbursed.
If you leave Ontario, do you
ensure that you have Out of Province Medical Insurance? It can be part of your
benefit package or on your "gold" credit card or purchased separately
through your travel agent or a life insurance agent.
Have you verified what it covers?
For example some group policies will only cover you for travel in Canada. Some
credit card policies will only cover you if you are under 65 and purchased the
travel package using that card.
The best way to ensure that your
claim is paid for is to contact the insurance company at the number on your
wallet card as soon as possible. Not only will you know right away what is
covered, they will often guide you through getting the medical assistance that
you need.
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