Coverage to Choose with a Visitor Travel Insurance Policy

When it comes to purchasing travel insurance, there’s no one size fits all coverage solution. This can make choosing a policy feel overwhelming, but having the ability to customize your travel insurance gives you the freedom to pick the coverage that best meets your needs and budget. 

Let’s look at your options and how you can pick the right coverage based on key factors like your age, dependants, health status, and deductible preference. 

 

What coverage amounts can I choose? 

Plans can cover up to $15,000, $25,000, $50,000, $100,000 or $150,000 in expenses in the event of a medical emergency for individuals between 30 days and 69 years of age. Eligible individuals aged between 70 and 85 years can only be insured for up to $100,000. 

The higher the maximum payout, the more you will need to pay to purchase coverage with any insurance policy. However, your insurance premiums will be a fraction of the financial compensation you receive for a successful claim, especially if you or a family member experiences a medical emergency that requires extensive treatment as a result of an accident or illness. 

In addition to the maximum amount of coverage you choose, your premium price will also be determined based on: 

  • Your age at the time your policy starts. 
  • The length of your trip. 
  • Whether you purchase individual or family coverage. 
  • Whether you buy coverage for a pre-existing health condition. 

 

How can I qualify for family travel insurance coverage with Manulife? 

Family plans are available for parents to bundle travel insurance coverage for themselves and their children. To be eligible for a family plan: 

  • Parents must be under the age of 60. 
  • Children must be unmarried and dependant on their parent(s) for support. 
  • Children must be over 30 days of age. 
  • Children without disabilities must be under 21.
  • There is no age limit for coverage of children with physical or mental disabilities. 

Please note that family coverage is only available for plans that don’t include coverage for any medical emergencies related to pre-existing health conditions. 

 

What are my travel insurance options if I have a pre-existing medical condition? 

If you would like to purchase emergency medical insurance for a health condition you’re currently living with: Manulife’s Plan B policy can cover medical emergency expenses related to pre-existing conditions that are stable for the 180 days before you arrive in Canada. 

For a description of stable conditions and Plan B coverage exceptions, see the Pre-Existing Medical Condition Exclusions section of the Emergency Medical Plan for Visitors to Canada overview. 

 

How do I choose the best deductible option for my circumstances? 

Like with renter’s insurance, choosing to increase your health insurance deductible can help you save money if you end up not needing to make a claim during the life of your policy. The higher your deductible, the more you’ll have to pay in the event of a claim, but the less you’ll have to pay in policy premiums. 

  • A $75 deductible is standard for a Manulife Emergency Medical Plan. 
  • You can pay a 5% surcharge for a $0 deductible.
  • If you set your deductible to $500, you can save 15% in policy premiums. 
  • A $1,000 deductible will save you 20% in premiums. 
  • Choosing a $2,500 deductible will reduce your policy price by 25%. 
  • The maximum deductible of $5,000 will save you %35 on your medical plan. 

It’s crucial to pick a deductible you could afford to pay in a medical emergency. If you don’t have an emergency fund that would allow you to pay a $5,000 or $1,000 deductible, then the %35 or 20% savings is likely not worth the risk of finding yourself or a family member underinsured if an accident or illness occurs in Canada. 

It’s up to you to choose a policy with affordable coverage that gives you and your family peace of mind about your health insurance while in Canada, but that doesn’t mean that expert advice isn’t available along the way. Manulife travel insurance offers a range of coverage packages that can help guide your decision. Contact Manulife to speak to a licensed advisor to help you choose a plan to support a safe, healthy and protected trip to Canada. 

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