For domestic and international travelers
You’ve packed your bags, taken care of the dog, and assembled your passport and tickets. But did you check to see what kind of coverage you’ve got while you’re traveling? Although you probably have a great sense of your medical coverage and other insurance benefits at home, they may be very different while you’re traveling, whether it’s to another province or out of the country.
Health Canada and the World Health Organization (WHO) provide recommendations for vaccinations and other precautions for international travelers, so always check with them before you go. Research the laws of the countries where you’ll be traveling, and carry documentation from your doctor for medications you will be bringing; some destinations even restrict over-the-counter drugs. And make sure you have health insurance coverage; many policies don’t cover overseas travel, so you should consider supplemental insurance if yours doesn’t. Emergency evacuation and treatment in foreign hospitals can cost hundreds of thousands of dollars.
For YOLO summer warriors
For lots of people, summer is the perfect time to enforce the “You Only Live Once” motto. It’s time for cave diving, mountain climbing, and other awesome outdoor adventures. Before you leave for your once in a lifetime YOLO odyssey, do some homework and sign up for the right life insurance policy covering extreme sports and activities. This kind of policy can also provide immediate coverage with no waiting period.
For parents
You just got your children situated for the summer, and now they’re in the groove at summer camp, with grandma, or wherever their next adventure is taking them. It’s tempting to take a nap for the next few days, but consider taking a few minutes to reevaluate your insurance coverage before things ramp up again as school starts. If it’s been more than 12 to 18 months, it’s definitely time for a review.
Ask yourself these questions to ensure your coverage is still perfect for your growing family:
- What is new in our family? Births, deaths, starting or finishing school, and new drivers can all change your home, life, and auto insurance outlook.
- What’s new around the house? Any time you improve your home you add value which can change your insurance needs, but you should also remember any risks that might have been added with the value; a good example of this is putting in a pool.
- Are there any new discounts I might qualify for? This is a great one to run by an Advisor. Think about any new safety measures at home, or any healthy lifestyle changes you’ve made.
- As I look over my existing policies and limits, does anything seem out of place or missing? Always review what’s there, because things change fast.
For folks beating the heat at home
If you’re just trying to take it easy at home, you may find yourself tackling new projects and getting things done in the summer. Good for you! Take this chance to review your estate and life insurance plan.
Here are some basics to get you started:
- How has your health changed? If your health has improved that could help you get more comprehensive life coverage or a different plan with lower rates. If you’re more concerned about your health than you have been in the past and you’ve been putting off getting life insurance, don’t put it off any longer; there are many policy options regardless of your health.
- Who are your beneficiaries? Make sure you know who they are for each policy and account. As friends and relatives age, experience health problems, move away, and otherwise take on different roles in your life, you may want to update your beneficiaries.
- Do you have sufficient coverage based on your finances today? Whatever estate plans you made were based on your finances at the time you made them. Make sure your numbers work now.
Conclusion
With a wide variety of insurance plans, contact Canada Protection Plan, or your Life Insurance Advisor to determine which may be the best options available for you. Whatever your summer looks like, you can make the very most of it while keeping it carefree and fun. Take this chance to take stock of your insurance situation and then spend the rest of your time relaxing and enjoying your time!
