Travel Insurance and Disability Insurance Flashcards
a Basic Travel Assistance policy will cover…
required healthcare services that are not covered under the Provincial plan
-repatriation costs
-transfers to hospitals, any required travel by family members or original travel companions accompanying the insured, and assistance such as translation services
what are repatriation costs?
the costs of moving back to Canada if the insured is totally disabled, or returning their remains if their death occurs abroad
a comprehensive or enhanced travel assistance policy can include…
any specifically qualified cost of accident or sickness, but is more expensive
travel insurance policies may be offered on…
- a per trip basis (one trip only)
-a multiple trip basis (allows for re-entry to canada)
travel insurance is meant to be….
excess to any other plan
benefits always work in what order?
1st payor: government plans (ex: WCB)
2nd payor: group insurance
3rd payor: individually purchased insurance plan
travel insurance does not _______ insurance provided by another plan, but it can ______________ costs not covered by a govt or group plan
replace
supplement
what is a primary insurance plan ?
for those travellers not eligible for a government health insurance plan including: temp workers, foreign students, visitors who need primary health covg while in Canada and transient canadians
what are some common limitations of travel insurance?
policies contain duration of stay restrictions
pre-existing conditions always excluded
-covers eligible unexpected expenses only due to illness or injury while travelling
what does a family plan include?
spouse and dependent relatives.
dependent relatives: unmarried children under 21 or under 25 if attending school full time
on a travel insurance policy, the covg afforded to the insured is called…
benefit
name the exclusions to travel medical insurance
-pre-existing conditions
-AIDS
expected illness
war
dangerous activities
committing criminal acts
travel within 8 weeks of expected due date of pregnancy (after week 32)
ppl who are self employed or those who do not have a group plan should purchase…
an individually owned disability insurance policy
what are theh3 definitions of disability insurance?
-any occupation
-regular occupation
-own occupation
which of the 3 types of disability insurance is most expensive
own occupation
define any occupation
with this definition , the disabled would only receive a disability benefit if they were unable to perform any and every function of their existing job
-this is the most restrictive definition and a person would only qualify if they literally cannot do anything else (Ex:coma)
define regular occupation
this claimant can receive the difference between the disability benefit from their previous career and the income earned in their new job
ex: airline pilot earns $100k a year, loses eyesight and has to become flight simulation instructor earning $60k a year.
he can earn the difference of income ($40k) per year for the benefit period, which would either be until age 65, or 10 years ,or as otherwise defined by the policy
what is own occupation
this person can receive both the disability benefit from previous employment plus their entire wage earnings from their new career.
-could actually receive more than they were making before becoming disabled
-has very strict qualification requirements
in order to qualify for a travel health insurance policy in Alberta, it is mandatory to have…
alberta health care coverage
what are some examples of coverage that may only be covered if ordered by a physician?
-private RN costs
-special treatments
-diagnostic services
-medical appliances
-land ambulance
in the event of an emergency where an insured requires assistance/hospitalization/medical treatment, they must
contact the emergency assistance service provider ASAP or within 24 hours PRIOR to receiving any treatment or being admitted to hospital
if they cant, someone else must call on their behalf or the insured will be responsible for paying 25% of the eligible expenses
travel accident insurance provides coverage up to stated limits for..
accidental death , lsoss of limbs or loss of sight
100% of the sum insured applies in the event of death, loss of 2 or more limbs, or irrecoverable loss of sight in both eyes
how much of the total sum of insurance on a travel accident policy would apply if insured loses one limb or sight in one eye only?
50%
