Saturday, August 10, 2013

Why Multi-Trip Travel Insurance is the Economical Choice

An increasing number of Canadians are lining up to cross the Canada-U.S. border for the day. In January alone, 2.8 million same-day car trips were recorded, hitting a 16-year high!1,2 While the lure of a money-saving shopping excursion is credited for many of these quick trips,3 your clients are putting themselves at risk of a potentially hefty hospital bill if they aren’t protected with travel insurance.

Do you know how much an ER visit could cost?

People get sick and accidents do happen — 2009 stats reveal more than 2.3 million adult drivers and passengers were treated in emergency departments in the United States after being injured in a motor vehicle crash.4 Just one day in an American hospital costs on average $4,287($US).5
This begs the question: Are your same-day travel Canadians protected? Most day-trippers who do not purchase travel insurance aren’t necessarily risk-takers; they just forget to buy it or are simply unaware of the financial risk they are taking.6 Take the initiative and remind yourself!

Manulife travel insurance for the multi-trip traveller

Once awareness of the need for travel insurance is established, find out if you frequently travel throughout the year. If this is the case, find the economical Multi-Trip plan.
This travel insurance plan offers many benefits for you:
  • Purchased once a year, it eliminates the need to fill out an application for individual trips.
  • Interprovincial emergency travel is covered for services such as an air ambulance to transport clients back to their home province.
  • It covers amateur athletics such as hockey and soccer tournaments for no extra charge, providing the sport is not your principal paid occupation.
  • In the event of a medical emergency, by simply calling the 24/7 emergency hotline number, arrangements will be made to have your medical bills sent directly to Manulife, where possible, and you would avoid out-of-pocket expenses.

Travel insurance that’s as flexible as you travel plans

You will also appreciate that the Multi-Trip plan offers a lot of flexibility. Plans can be purchased for 4, 10, 18 or 30 days. Plus, if a trip exceeds the duration limit that they initially purchased, you can top up with additional days for individual trips. So if you travel habits are typically covered by your 18-day plan but they decide to go away once for 25 days, be advised of the availability of a one-time 7-day top-up plan.

The Multi-Trip Plan — it’s more economical than you may think!

If you are convinced that purchasing individual trip insurance is the more economical route, find this example of a travelling couple.
Jenn, 30 years old, and her husband Mike, 35, reside in Ontario. They both enjoy travelling down south a couple of times a year and cross-border shopping. When they compared the cost of purchasing a single-trip plan each time they travel to the cost of purchasing a Multi-Trip plan only once a year, it was evident that a Multi-Trip plan covers medical emergencies for less.
Single-Trip Emergency Medical
Multi-Trip Emergency Medical
Trip #1: 1-day shopping trip for both
$5.13
10-day trip
Jenn
Mike

$49.40
$49.40
Trip #2: 6-day vacation for both
$30.78
Trip #3: 7-day vacation for both
$35.91
Trip #4: 1-day shopping trip for both
$5.13
Trip #5: 8-day vacation for both
$41.04
Trip #6: 1-day shopping trip for both
$5.13
Total 
for 6 trips
$123.12
Total
for unlimited number 
of 10-day trips/year
$98.80
Rates are for a couple, effective November 30, 2012. Rate category A; no deductible.

Pay attention to details

Before discussing the Multi-Trip plan, make sure you understand the different rate categories and definitions. If you are 55 years of age or older and unsure about the stability of any pre-existing medical condition or about their medications, you should consult their doctor before completing the medical questions on the application.

An easy sale

If your travel habits are anything like Jenn and Mike’s, the Multi-Trip plan offers the flexibility, convenience and affordability to suit your lifestyle. With the number of Canadians taking more trips across the border up 5.3% from a year ago,1 this plan will be the ideal choice for many of you who are part of this trend.

Sources:
  1. Statistics Canada: Travel between Canada and other countries. January 2013. 
    Accessed at: http://www.statcan.gc.ca/daily-quotidien/130320/t130320b001-eng.htm.
  2. Statistics Canada: Travel between Canada and other countries. February 2012. 
    Accessed at: http://www.statcan.gc.ca/daily-quotidien/120419/dq120419c-eng.htm.
  3. CBCnews. U.S. cashing in on Canadian shoppers. February 21, 2012. 
    Accessed at http://www.cbc.ca/news/canada/story/2012/02/21/cross-border-tax-shopping.html.
  4. Centers for Disease Control and Prevention. Injury prevention & control: motor vehicle safety. 
    Accessed at http://www.cdc.gov/motorvehiclesafety/.
  5. International Federation of Health Plans. 2012 comparative price report.
  6. The Conference Board of Canada. Outbound Canada: Canadian Travel Health Insurance Survey Results. May 2012

Quote: Manulife Financial Affinity Market