Retired and Traveling?

Travel medical insurance is absolutely necessary when you are traveling regardless of how old you are, but as a senior, it is even more necessary. The truth is, with age comes health problems. When you’re travelling, you want to have a good time, but should also be cognizant that you may need health care treatment during your stay – especially if your stay is longer, or if you are going to a country that is very humid and has a low air quality. 

Travel medical insurance can cover a lot of your medical needs, emergency needs and visits to a doctor if you need, taking out a policy will not only allow you to really relax during your vacation, but will give your family the peace of mind that you will be safe and taken care of even while on vacation. In Canada, we sometimes don’t realize how lucky we are to have our healthcare paid for, it is not until we visit other places, especially without medical insurance do we realize how important have protection is. For your sake, and your family’s safe, enjoy your golden years traveling and having fun while also being safe! 

We can help find a plan that works for your travel needs and medical needs, call us at (416) 909-0400.

Do You Need Travel Insurance Within Canada?

When people think of getting travel insurance, they often think of traveling outside of Canada, but did you know not all provinces would cover some of your emergencies? 

You should find out through the provincial healthcare for the province what is covered and what isn’t. For example, air ambulance wouldn’t be covered in Vancouver. Some provinces you have to pay ahead of time and get reimbursement after – so it is best to check what and what isn’t covered if you have health needs you are concerned of. 

We can help find a plan that works for your travel needs, call us at (416) 909-0400.

Drinking Alcohol on Vacation?

Vacations are a time to relax and have some fun – often times, this includes alcohol. But beware, accidents that happen while under the influence of alcohol or nonprescription drugs won’t be covered by travel insurance in many cases. Each policy may be different and may list a different allowance of blood alcohol level in their exclusions for insurance.

If you plan on drinking during your vacation, it’s best to not engage in high-risk activity right after. You’re more likely to engage in high-risk activity while under the influence of alcohol – which can cause harm, so it is best to not do so.

If you are planning on traveling, and need help figuring out the policy and understanding the fine print, we’re happy to help. Call us at (416) 909-0400.

Extreme Sports and Vacations

It’s May already! Yes, that means that it’s time to plan for summer vacations. This month we’ll help you learn more about travel insurance. Vacations are a great time to try new things – you’re in a new place, with new people. Many people try extreme sports and high-risk activities during their summer vacations – think skydiving or para-sailing. However, it is important to note that many insurance policies do not cover injuries caused by extreme sports.

If you are planning on a high-risk holiday activity, you’re best bet is to check it out with your policy and see if you will be covered. You may have read about the Canadian who visited America and unfortunately met in a skydiving accident with her parachute collapsing, causing her to fall from the sky and suffering a collapsed lung, broken pelvis, eye socket and brain swelling. She ended up with a $500,00 medical bill  - which was uncovered.

We can help find a plan that will cover your high-risk activities if you need, call us at (416) 909-0400 and we’ll help plan for you!

Are you protecting your spouse?

Life insurance is a very touchy topic for couples; it can be confusing and also an emotional conversation. However, it is a much-needed discussion. Life insurance is really a way of taking care of your partner and children, and not leaving them with a huge bill to struggle to pay.

We can help de-mystify the types of life insurance and help find an insurance option that matches your needs.

Generally speaking, there are 3 types of plans to choose from. All plans will be some form of these types:

Term: Think of this as your phone plan, it is a pay-as-you go plan. Your insurance term can be a 5, 10 or 20 year term and you pay monthly for it for the term. You are able to renew the plan upon the completion of a term (or up to age 65). The younger you are, the cheaper the premiums you can get – the older you are, the more expensive premiums are. If you choose to end the policy while you are still alive, this type of policy will not give you your money back.

Term to 100: A term to 100 is a similar to the term plan, but it covers you until age 100. As the term is longer, your premium will be less, and you will have coverage after 65 years. Again, there is no cash surrender value for this plan, so if you end the policy or past the policy coverage term, there is no money back guarantee.

Permanent: You may have heard of this as universal or whole life insurance. Your monthly payments depend on a variety of factors – age, job, health, wealth, etc, regardless, the premiums will much higher than term or term 100 policies. Your premiums will not change, and coverage is for your entire life regardless of age. With this policy, if you give up the liability for death benefit, you can cash the money that has built up in the plan (although it may take anywhere from at least 10 years to have a decent amount).

Everyone has different needs and are able to contribute differently. To learn more about the best options for you, speak with one of our insurance agents at (416) 909-0400.

Are you financially secure?

Financial security is dependent on a variety of things – debt, assets, savings,  cash flow, safety nets, employment and education. An important part of financial security is being able to have the means to pay for unexpected costs, and having planned for these unexpected costs.

Accident and critical illnesses usually come at unexpected times, and they cost much heartache, and take can also toll on finances – in fact, 40% of Canadians who suffer from a major health crisis also suffer financially. Being financially secure means also having a safety net when unexpected costs and tragedy strikes. When diagnosed with a major health crisis, having health insurance and critical illness insurance is this safety net that will help cover your costs while you focus on recovery.

While we can never know what will come our way, having an extended health insurance and critical illness insurance can go along way in maintaining financial security and helping protect ourselves during tough times. To learn more, speak with one of our insurance agents about insurance options for you, call us at (416) 909-0400.

“Canadians spending more out-of-pocket on health care”

CBC recently reported that Canadians are spending more out-of-pocket for health care including dental care and prescriptions. In many cases, Canadians have to spend additional on health care because they are not covered by insurance. Furthermore, the report found that low-income families are spending less than they should in instances, because they probably are choosing cheaper alternatives or forgoing treatment because of the cost.

In instances like this, it becomes pivotal to have dental and health insurance. You should never have to compromise your health and skimp on prescriptions because of a lack of money – and this is why having dental and health insurance helps, since insurance can cover these costs. You cannot always know when you will need dental and health services, however, you can always plan for the event of when you may.

Getting dental and health insurance to match your current health and needs is something we have helped many people with, and we are able to help find the best plan for your needs also. To speak with one of our insurance agents about insurance options for you, call us at (416) 909-0400.