It’s that time of year when people from Canada or the northern Unites States migrate south to the warmer climates of the southern United States, Mexico or Central America.
These thousands of so-called “snowbirds” who flock to warmer destinations for the winter will do so with a travel protection or international medical insurance policy in hand. For those traveling outside of their resident country, the purchase of a travel protection plan (including medical) or an international health policy is standard practice.
However, did you know that many people insure the prepaid, nonrefundable cost of their rented home or condo, too? It is common that payments for these types of accommodations are due upfront and that they are nonrefundable. If a person were to become ill or injured and cannot travel, they can recoup that cost of their nonrefundable accommodations. For those who do make the trip south, their travel insurance plan may also include “primary” medical coverage with no deductible. Many travel protection plans available to U.S. residents include $50,000 per person for medical coverage for any unforeseen illnesses or injuries that may occur during their stay.
For example, a person age 75 renting a place for four months at $3,500 a month ($14,000) can insure that prepaid investment for about $2,300. The policy would provide trip cancellation coverage for sickness, accident or death of themselves, a traveling companion or a family member. And if they purchase the insurance within 21 days of making their first payment or deposit, they will also receive the additional benefit of a pre-existing medical conditions exclusion clause waiver.
Our Canadian customers are not so fortunate. The international medical insurance plans we have available for Canadians flocking to the southern U.S., Mexico, or Central America limit the amount of medical coverage available by age, and there are no pre-existing conditions waivers available. So healthy Canadians come on down. Those with unstable medical histories? Best shop for a Canadian travel protection plan. A 75-year-old Canadian staying for four months in the states may purchase $100,000 of medical coverage (with a $1,000 deductible) for $1,420.80. The look-back period for unstable pre-existing medical conditions is three years. At age 80 and older, coverage is limited to $20,000. The average cost of a medical emergency for Canadians in the United States is $26,000.
If you’d like to help your snowbird clients, become a Travel Insurance Center affiliate. You can either sell travel insurance directly to your clients or refer clients to us. You get paid a commission on each successful sale or referral!