Travel insurance pays for medical expenses and other costs that may arise while traveling abroad. Travel insurance will cover ongoing medical treatment. In these cases, the plan will allow the patient to be repatriated back to their home country where they will receive their gap and medical aid.
Gap coverage is a short-term insurance product that extends the benefits of medical assistance. It covers medical expenses shortfalls on hospital or doctors’ bills as well as any sub-limits or copayments imposed under medical schemes.
Covid-19’s impact on travel insurance
Although many industries were affected by the pandemic, the travel sector was among the most severely affected. It is therefore not surprising that the industry of travel insurance did not survive the worst. Like most services and products in almost every industry sector, the travel insurance market has had to adapt to new realities.
Travel insurance has become more complex and dynamic. This is making it difficult for travel insurers to keep up with all the requirements and protocols. These can vary from one country to the next, and they change frequently.
The travel industry seems to be resilient and has adapted quickly to the new normal.
Insurers have a positive outlook
It is important for travelers to remember that the pandemic did not have a significant impact on travel insurance costs over the past two years. Although the industry revises its premiums every year, there was no increase for 2020, and only a slight increase for 2021, despite Covid-19’s increased costs.
Travel insurance is becoming more important, but there are still some misconceptions. Some common questions are: What is travel insurance? What is a Covid-19 benefit and how can it be used?
The medical component is the heartbeat of travel insurance. Here is where the Covid-19 benefits come in. These products cover all medical expenses and provide coverage in the event that a traveler contracts Covid-19 during a trip. These products also offer quarantine coverage in the event of a positive test and must be quarantined.
Covid-19 benefits don’t cover cancellations of travel bookings or additional expenses incurred because of Covid-19. Excluded from this are disruptions or expenses resulting from passengers signing Covid-19 prior to departure, South Africa being added to the red list, South Africa not being open for business, and test results not being received on time.
How to Apply
Avoiding gaps in your travel insurance can make it difficult to find the right coverage. Travel insurance is a valuable added benefit, especially during a pandemic. Travel insurance purchased as an additional benefit through gap coverage can provide for emergency medical expenses. It can also be increased by purchasing a top-up.
Take note
It is a good idea to get authorization before you travel abroad for any type of medical procedure. Travel insurance is not a guarantee that you will be able to get any type of medical treatment in another country, so don’t go in blindly like a bet in a casino.
Authorization is required in order to allow the insurer to control the claim from the start and to manage the expenses as well as the treatment of the patient.
Travelers should discuss their insurance needs and concerns with their brokers. They will be able to advise on what coverage is in place and if they have any additional insurance needs.
People who plan to travel internationally should remember to get travel insurance before they leave the country. The policy must be activated and issued before they depart.
