August 24. Without pre-existing condition coverage, a travel insurance company won’t pay for medical bills or claims related to your recent medical history if you require emergency treatment due to that condition.
But don’t panic. If you’re looking for travel insurance that offers comprehensive coverage regardless of your medical history, there are several coverage options for travellers with a pre-existing conditions. Keep in mind that not all insurers offer these options.
Pre-existing medical condition waiver: If you purchase your policy within a set timeframe, you insure the full nonrefundable costs of the trip and you’re able to travel on the date of purchase, this waives any pre-existing condition exclusions. There is typically no extra cost for the waiver.
Individual underwriting: Some insurance companies offer a separate and personalized individual underwriting application option where you complete a more detailed medical questionnaire and then the medical underwriter reviews your responses and, if approved, you are provided with customized travel insurance coverage.
Reduction of stability period: Typically sold as an add-on (also known as an endorsement or rider), this option reduces the amount of time that your pre-existing condition needs to be considered stable before being eligible for coverage. There is typically a maximum benefit amount that is lower than the emergency medical benefit payout. For example, AMA Travel Insurance offers $5 million in emergency medical, but a maximum of $200,000 in coverage for the pre-existing conditions rider.
Pre-existing condition exclusion: A pre-existing condition can push up the price of your insurance significantly. In addition to a reduction of stability period option, Tour+Med offers an innovative Optional Exclusion option where you can exclude an organ or complete system that’s affected by the pre-existing condition in return for a lower premium. For example, if you have asthma that does not meet the “stable and controlled” conditions, you can choose to have your asthma excluded, which would also exclude the entire respiratory system. So if you were to get sick with bronchitis, that also would not be covered.
Personalized pre-existing conditions packages: Some insurers feature customized packages for travellers (often over a certain age) with coverage for pre-existing medical conditions. Rather than purchase this as an add-on to an existing insurance policy, this is a separate policy, such as Manulife’s TravelEase insurance coverage or RBC Insurance’s TravelCare package.
Source: Forbes
