Marketing Director Of Travel Agency Claims Insurance Policies Should Be Below $1,000
Travel health insurance being offered by companies is a chilly choice for the older Canadian snowbirds
. New rules are to be accepted on where to go for emergency treatments while out of Canada if they cannot pay higher rates for coverage. For one popular plan, travel health insurance premiums for older retirees increased by as much as $1000 per person. This may prompt many conventional insurers to set this increase as their pattern for steep rate hikes.There barely are people going for a vacation according to the elderly male who lives in a condominium in Ottawa?s west end for even the tenants in their building do not go for a trip anymore. He said that many can't afford the rates so as a result, many can't. An excellent increase of 80 percent was announced by the travel insurance policy that they purchased a year ago. A six month policy is entitled to those who are in the 76 age category wherein it would cost $2,425 per person compared with $1,350 last year.
To the seniors aging from 65 to 75, the same policy will cost them $1,425 showing an increase of 22 percent. The marketing director of a travel agency claimed that the result last year for the improper screening to younger and healthier clients done by the competitor was that there were a heavy number of claims wherein an unequal number of older clients were left to insurance companies. As for this year, rates have been reduced for clients below 55 but as for older clients who want coverage for up to 180 days, rates have been drastically raised.
High costs for travel insurance especially for the older and longer stay clients will definitely be solved . The new policy that the company is working on will be structured based on the managed care in the U.S. It aims to keep costs down by restricting policy holders to treatment at hospitals and medical clinics with which pre-arranged pricing agreements have been made. Another major player in the industry is putting together a similar managed care plan directed at longer term stays by older Canadians, although officials there wouldn't estimate its savings potential. Last year, the company which priced itself out of the market for many older Canadians will not increase its rates again this year. But still, the most appropriate rate for those in between 55 and 69 is $1,244 while for those above 70 is $2,559 for a 180 day stay.
Weakening competitors by hundreds of dollars was what the Canadian snowbird association did last year but for this year, people who are waiting for them to do the same thing might just be disappointed. Rates last year were $580 per person and $895 per couple which almost caused panic buying among consumers but as for this year, officials of the association?s travel insurance policy assured that rates would be nowhere near last year?s rates. It would be below $1,000 per person for those between 65 and 75 covering up to 182 days is what the marketing director for the association?s travel insurance policy wants. Meanwhile, there are bargains around for those who can meet the age and health qualifications of various policies. But that's not it all.
Offered by several companies will be early bird specials or temporary rates The charge of the new company who is currently working on a marketing plan is priced at $510 for members 61 to 65 and $680 for those 66 to 75. If there are people over 75 and who want to stay for 180 days, then rates would jump $10 a day or $1,800.
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