When planning your travel adventures around the world, your focus is likely on arranging tours, accommodations, reservations, and exciting activities. However, you may not be considering the possibility of an emergency during your trip. Have you thought about whether your medical insurance provider in California will cover your medical expenses in another country? Depending on the destination, insurance may not be accepted, and you might have to pay in cash for healthcare services.
This is where travel insurance comes into play. As financial advisors in Carlsbad, CA, we often receive questions like “What is travel insurance?” and “Do I need travel insurance?” Our recommendation is that you do consider it.
So, what exactly is travel insurance?
Travel insurance is a type of emergency health insurance that you can purchase before your trip. It provides coverage in the event of a life-or-death emergency. In countries where insurance is not accepted, travel insurance policies often include the option to have funds wired directly from the insurance company to the healthcare provider. In other cases, travel insurance operates as a reimbursement plan, where you will be reimbursed for the medical expenses incurred during your trip. The type of insurance you choose depends on the specifics of your trip.
Do you need travel insurance?
None of us can predict accidents, emergencies, or unexpected illnesses. It’s impossible to guarantee that you won’t require medical attention while traveling. However, traveling without travel insurance in Carlsbad, CA, can be risky. If you assume your insurance provider covers you abroad, be sure to inquire about the extent of the coverage. Will they cover the cost of repatriation if you become severely ill? Do they guarantee international medical payments? Are there pre-authorization requirements for life-saving procedures?
Keep in mind that travel insurance does not typically cover minor illnesses like the common cold or basic food poisoning. These policies are designed to cover life-or-death medical situations and the associated circumstances.
Overall, we strongly recommend purchasing a travel insurance policy, even for short visits. It can make a significant difference in receiving the necessary healthcare during your trip. For more information, please contact Serra Benefits & Insurance Services in Carlsbad, CA.