— Come on! My premium has gone up again, exclaims Roger. But I’m in better health than last year. My doctor even took me off a medication!
— That’s great news for your health, Louise replies, but maybe not so great for your travel insurance…
This situation may seem contradictory, but it’s quite common. In travel insurance, turning a year older can sometimes bring plenty of surprises. Even the slightest change can cause premium fluctuations.
Insurers update their medical questionnaires at different ages—some at age 50, others at 60, 65, or 70. So even if your health status remains the same, moving into a new age category can lead to a significant premium increase based on the new questionnaire.
A person with a history of heart problems might have to complete a full medical questionnaire with one insurer, resulting in a hefty premium surcharge, while with another insurer, they might still qualify for a simplified form requiring only eligibility questions and a 90-day stability period.
The value of advice lies not only in answering the questionnaire correctly, but in choosing the right questionnaire before even filling it out.
Stability is precisely one of the most important factors. Depending on age, the insurer, and the coverage selected, the required period may be 90, 180, or even 365 days. A new prescription, a change in dosage, or the discontinuation of a medication can reset the counter to zero.
That’s why good medical news can temporarily turn into bad news when it comes to travel insurance. Stopping a medication is encouraging, but it may take a few months to confirm that the condition remains stable without that treatment.
— But my doctor told me I could go!
The doctor determines whether you’re healthy enough to travel. The insurer, on the other hand, determines whether your condition meets the definition of “stable” as outlined in the policy. Being cleared to travel does not automatically mean that all your conditions will be covered. Fortunately, some insurers may shorten the stability period in exchange for a risk-adjusted premium.
Consulting your broker early on can sometimes save you money, but more importantly, it helps you avoid discovering a coverage issue just a few days before departure.
If in doubt, don’t hesitate to contact your broker two or three months before departure. They can help you develop a contingency plan in case your health condition changes. They can also search among insurers to find the one whose application form is best suited to you, based on your health status.
After all, the goal is to spend the winter in the warmth… not to discover too late that your insurance leaves you out in the cold!
Translated with Deepl
