TORONTO, Sept. 26, 2018 (GLOBE NEWSWIRE) — Snowbird Advisor Insurance has released its top 5 tips to help Canadian travellers avoid having their travel medical insurance claims rejected.
With snowbird season fast approaching, these best practices were developed to help Canadian travellers avoid the potentially devastating financial effects of having their travel medical insurance claims denied and are based on input from travel insurance industry experts and three separate travel insurance surveys.
Top 5 Tips for Successful Travel Insurance Claims
- Always provide truthful & accurate information when purchasing your policy. If you’re unsure about your medical history, consult your doctor.
- Read & understand your policy
- Inform your insurer of any changes to your health after you purchase your policy
- Whenever possible, contact your insurer before seeking treatment
- Keep all of your treatment records and receipts
Full details of Snowbird Advisor Insurance’s top 5 travel insurance claim tips can be found here.
“While a relatively small number of travel medical insurance claims are declined, those who do have their claims rejected can suffer financial ruin, as treatment costs that can climb into the hundreds of thousands of dollars,” says Stephen Fine, president of Snowbird Advisor Insurance.
“Fortunately, there are best practices travellers can follow to reduce the risk that their travel insurance claims will be declined,” Fine says. “Simply being aware and diligent about your travel insurance obligations can go a long way towards helping you avoid becoming an unfortunate statistic.”
Canadian Travel Insurance Claim Statistics Include Some Surprises
A number of surprising statistics came to light while developing these best practices for making a successful travel insurance claim:
- 98% of travel insurance claims are either fully or partially paid
- 14% of travel insurance applicants intentionally provide inaccurate information when applying for travel insurance
- The #1 reason for claim rejections is failure to fully and accurately disclose medical conditions
- The #2 reason for claim rejections is failure to meet the “stability clause” requirements of your policy
1Pollera Strategic Insights survey of 1200 Canadians sponsored by the Canadian Association of Financial Institutions in Insurance (CAFII) (June 2018)
2Travel Health Insurance Association of Canada (THIA) survey of 1007 Canadians (September 11 – 12, 2014)
3KPMG survey of Canadian insurance providers commissioned by the Travel Heath Insurance Association of Canada (THIA) (November 2014)
About Snowbird Advisor Insurance
Snowbird Advisor Insurance is a travel insurance agency specializing in providing Canadian snowbirds, boomers and seniors with travel insurance solutions designed to meet their unique needs.
The company’s agents understand the specific insurance requirements of snowbird and senior travellers, in addition to offering a policy option that features coverage for pre-existing medical conditions with no stability period requirement.
Visit www.SnowbirdAdvisorInsurance.ca for further details.
For more information contact: