08 Mar 2008 12:28:19 | David M. Schmader
Embarking on Your Dream Vacation Are your Plans Complete?
Your bags are packed, passport and papers in order and you
couldn’t be in a higher state of excitement preparing for travel
to that wonderful, exotic location. This is the vacation you
have planned it seems forever. As you sit on the plane, you and
your partner discuss for the hundredth time the scuba diving you
will do, the awesome rock climbing and hikes into the rain
forest. Everything is perfect!
Life seldom gets better than this.
Despite all the excitement of travel, Americans do have some
concerns.
According to a survey by the Chubb Group, more than 70% of
Americans surveyed said their greatest concern when traveling is
suffering a medical emergency...more than double the fear of
being mugged (30.7%), three times the fear of being injured in a
terrorist attack (23.4%).
What happens if a medical emergency arises when traveling
overseas?
Many people assume that while they are out of the U.S. or Canada
they will be covered by their standard medical plan. However,
most traditional health insurance plans are not designed for
international travel.
According to the U.S. Department of Commerce, approximately 27
million travelers board U.S. airlines for overseas destinations
and almost 26 million foreign travelers come to the U.S. each
year. However, many are not prepared for a medical emergency
abroad.
Most traditional health insurance plans would not cover an
unexpected illness or injury during international travel. But
travelers with international medical insurance would have
protection for scenarios ranging from a local ambulance trip to
an emergency evacuation for care at the nearest qualified
medical facility. Some even offer repatriation flights out of
the country where the traveler is located back to the US.
Available plans can cover individuals or groups for specific
periods of time abroad and can be in effect should they be
stationed abroad for an extended period of time. There are
policies for corporations to insure their personnel, plans to
cover missionaries who are on an outreach program and for those
participating in extreme sports. International travel medical
insurance should be considered for anyone traveling or living
abroad.
©David M. Schmader, Solon, Ohio January, 2005
www.brownschmader.com
About Author :
David Schmader is an independent broker agent located in the
Cleveland Ohio suburb of Solon, Ohio. With over 25 years of
corporate finance experience he specializes in serving the
individual, professional and small business markets.
