Travel Insurance: Necessary Protection That Is More Than Just a Question of Cost

This article was generously provided by Nancy Elkas, Senior Manager, Training, Living Benefits Services and Travel Insurance, Financial Horizons Group, Quebec Region.


As a financial security advisor, you take care of your clients by asking them the right questions and by offering a breadth of financial products and services to address their needs. Don’t forget, however, there are important questions to ask yourself too!

Consider the following:

  • When the opportunity presents itself, do you talk to your clients about travel insurance?
  • Do you know why it is important to purchase travel insurance?
  • Are you aware that having good travel insurance is just as essential as a passport?


Exclusions, options, clauses, pre-existing health conditions... it’s enough to confuse anybody!

With all of the possible options and exclusions, the stability clauses and pre-existing health conditions that come along with travel insurance, it’s easy to get confused, but you absolutely must take these key steps:

  • Inform yourself and carefully read the travel insurance contract included with your credit card or group insurance plan; especially the small print and footnotes!
  • Research and choose your coverage, as a cheap product might also offer “cheap” protection and end up being very costly. Your well-being is priceless, so it shouldn’t simply be a matter of trying to find the lowest possible price!
  • Understand that a superior product adapted to your personal situation usually comes with a higher premium, but the best protection.
  • Carefully check whether your group insurance or insurance provided through membership to an association is appropriate for your individual circumstances and provides adequate coverage.
    • All travel insurance products have very different protection, options, and limitations and should absolutely be adapted to the traveler, and his or her health condition and travel plans.


In conclusion, it is fair to say that choosing a travel insurance plan is taking care of one’s financial – and not just physical – health! As a financial security advisor, it is your responsibility to lead by example and also protect your clients’ interests and financial well-being. Be sure to properly advise them on the importance of good travel insurance!