by Philip Lee, CFP®
Travel Insurance: Do I need it?
I enjoy traveling as do many of our clients. While we may tend to focus on the travel costs, plans – where to go, what to see and who to visit we often do not think about financial issues such as insurance. The two most common travel related insurance matters are
1) Emergency medical evacuation/foreign healthcare and
2) Renting vehicles abroad.
Emergency Medical Evacuation/International Health
I recommend considering this type of insurance, depending on where you are traveling. The type, level and sophistication of medical care varies greatly around the world. Plans will typically include a medi-flight back to the states or to a first-world country with western style medicine, and full logistical support including medical facility/health care provider coordination and translation services. Most plans will also cover medical expenses not covered by your own health insurance. The two firms to consider are: