More than a third of Canadians (36%) plan to travel this winter to escape frigid temperatures, says a survey by the Travel Health Insurance Association of Canada.
Most travellers will be from Quebec (48%) and Ontario (36%), it adds, while residents of B.C. (24%) are least likely to book vacations.
Problem is, only 47% of respondents say they’ll purchase travel insurance. Of that group, more than half (56%) are above the age of 55.
So, if your clients are planning a trip, make sure to have a conversation about insurance needs. If a client’s reluctant to buy coverage, try highlighting real-life stories or examples that show why it’s crucial.
One resource could be Dean Dispalatro’s report on travel insurance in the May edition of Advisor’s Edge.In his case study, he profiles a 55-year-old traveller who suffers from a ski injury after failing to buy insurance.
Ralph Lopez, 55, is a divorced, self-employed advertising consultant. He planned a ski trip to Park City, Utah with his children over March Break, and his advisor urged him to purchase travel insurance before departing. Ralph shrugged it off (he doesn’t have disability insurance, either).
Both are mistakes. While hot-dogging a tough hill, he veered into a tree and suffered major injuries. Fortunately, his children are better skiiers. Since Ralph didn’t have insurance, he owes a local hospital about $50,000, even after estimated reimbursements from his provincial plan (see “Claiming health expenses,” below).
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