Did you know that out of country group insurance benefits are handled by a 3rd party, not the insurance company supplier? With the holiday season upon us people are planning their winter vacations. Many automatically think about buying travel insurance, while others are satisfied that they are covered by their group insurance plan. So ?it?s all good.? Or is it? What happens if ?
- you override the emergency medical?s directive or the insurance company denies your claim?
AND
- the medical emergency involves a critical illness, like a stroke or heart attack that has longer lasting financial ramifications beyond the need to get and pay for immediate care?
When a medical emergency arises it is the 3rd party you deal with when calling the toll free number provided. Their first concern is to stabilize the patient and the second is to get them back to the country of origin as soon as possible. But what if extenuating circumstances or the opinion of the patient or their family is that getting them home a.s.a.p. is not the best course of action right then? A colleague of mine found out the answer to this question when his wife had a stroke in Greece. The answer is you are on your own to cover the costs and then you submit the claim for reimbursement. In his case the bill was for $92,400 US!
Neither you nor your clients want surprises like that, so if Travel Insurance is not your specialty ? find an advisor who does specialize in it so that you are confident that this holiday travel season ?is well covered? with no surprises!
Here?s wishing you and yours a very happy, healthy and safe holiday season!
Cheers, Helena
P.S. ? Did You Know will be back on January 2nd with Little Known Facts About Travel Insurance Part 2. Stay tuned!
Tags: travel insurance
Helena Smeenk Pritchard has over 36 years of experience in the insurance industry and is the Principal of Helena Smeenk Pritchard & Associates, a leader in ?Insurance Know-How? training. Helena has had articles published in Advocis? Forum Magazine as well as Advisor?s Edge, and is a very popular columnist for Advisor.ca.
Although the author has made every effort to ensure that the information published was correct at press time, all content is for informational and consideration purposes only. The author will not be liable for any errors or omissions in this information nor for the availability of this information or for any losses, injuries, or damages from the display or use of this information.
Source: http://www.insuranceknowhow.ca/2012/12/little-known-facts-about-travel-insurance-part-1/
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