Travel Insurance Vs. Medical Insurance- Which One to Choose When Traveling

For a frequent traveler, the travel insurance plan in Toronto is mandatory. Travel insurance does make sense to get financial coverage for medical expenses, lost baggage, and delayed flights or cancelation flight benefits.

But when it comes to healthcare expenses, many travelers often confuse whether they need a medical insurance plan in Toronto or travel insurance. Or is it similar to medical insurance? Travel insurance covers medical expenses, but it is not similar to medical insurance. To make it clear, here are the key details.

Travel Insurance Vs. Medical Insurance Plan

If you’re traveling to a foreign country, remember that the medical insurance plan in Toronto doesn’t cover some medical expenses if you are traveling outside. That is why a travel life insurance plan is the best choice. Some more common differences between travel insurance plans in Canada and medical insurance are as follows:

· Coverage

You should use travel insurance to get the same medical benefits as healthcare insurance. But medical insurance is designed to provide medical coverage only in your country, not outside.

· Pre-Existing Medical Conditions

The travel insurance doesn’t cover any pre-existing medical conditions. You may need to ask the travel insurance service in Toronto to know about add-on services or conditions applied to insurance.

At the same time, medical insurance can cover pre-existing conditions and others. However, medical insurance doesn’t provide coverage outside the country. So, you have to select a travel insurance plan in Toronto.

· Coverage Tenure

The travel insurance plan in Toronto may provide coverage for 20-30-40-60 and even more years. However, in most cases, these insurance plans work excellently in providing coverage for multiple trips only instead of the whole year. But medical insurance provides coverage for the whole year.

So, medical insurance will provide coverage if you are not traveling outside the country. But travel insurance would be an excellent option if you want more financial coverage.

· Medical Emergency Before Travel

Imagine a day before the flight, you meet with a medical emergency and must cancel the trip. The travel insurance policy might cover the cancellation fees in this situation but not the medical costs associated with his hospitalization and subsequent treatment and recovery.

On the other hand, a health insurance policy would have paid for his treatment during his rehabilitation. It would not, however, pay the cancellation fees he must pay for the reservations and trips he would no longer take.

· Treatment Location

If you experience a medical emergency while traveling, your travel insurance policy could require you to receive emergency care and complete all other treatments at home. International medical insurance will let you receive the care you require abroad.  The facility you might miss in travel insurance plans.

· Alternative Benefits

Some advantages include personalized travel policies, particularly for seasoned travelers, groups, or elderly people. This is because their coverage needs may differ from those of others, so generic travel insurance policies might not be appropriate for them. As a result, several insurers also provide personalized travel protection policies.

The primary insurances that travel insurers offer to policyholders are the ones listed above. The terms and conditions of each travel insurance service in Toronto govern the same rules implemented in Toronto.

Wrapping It Up:

So, this is all about medical insurance and travel insurance in Toronto. The coverage and exclusion of both insurance policies vary according to the services you add to the plan. But a travel insurance plan is best if you are traveling outside and need medical coverage and other financial benefits.

But before investing, it is crucial to read about terms and conditions and disclosure statements to make an informed decision. Besides this, check the premium amount you need to pay. If you don’t know how to compare different policies, we can help you.

INSUREDCAN has the best team of top insurance advisors. They can help you in picking up right insurance plan in an easy manner. Contact us today to get a Quote.