Manulife Financial Highlights Need for Travel Insurance Awareness Among Canadians This Summer
- Manulife's survey reveals only 10% of travel insurance sales are for domestic trips, despite 77% of Canadians planning local vacations.
- Pamela Wong emphasizes the need for travel insurance, as Canada's universal health care doesn't cover all medical expenses outside one's province.
- Manulife encourages Canadians to prioritize travel insurance for safe, worry-free vacations, while providing resources to aid decision-making.
Understanding the Importance of Travel Insurance in Canada
As the summer travel season unfolds, a recent survey conducted by Manulife, Canada’s leading travel insurance provider, highlights a concerning gap in Canadians’ understanding of travel insurance, particularly for domestic trips. With 77% of Canadians planning to vacation within their own borders, only a mere 10% of travel insurance sales pertain to Manulife’s ‘Travel within Canada’ products. This discrepancy raises questions about public awareness of the risks associated with traveling outside one’s home province without adequate insurance, even in a country with universal health care.
Canada’s public health care system, while extensive, does not guarantee uniform coverage across provinces, meaning that medical expenses incurred during travel can lead to significant out-of-pocket costs. For instance, Canadians may face unexpected expenses such as ambulance fees or hospital bills when traveling outside their home province, as these costs are not always covered under provincial health plans. Pamela Wong, Manulife's Head of Travel Insurance, underscores the critical need for travelers to recognize that they are not fully covered in every province, thus making travel insurance an essential part of vacation planning.
To address this lack of awareness, Jennifer Waver, Head of Travel Distribution at Manulife Canada, emphasizes the importance of protecting one’s investments and ensuring a worry-free travel experience. As Canadians prepare for their summer adventures, Manulife urges them to consider travel insurance as a vital component of their trip. With the right coverage, travelers can enjoy their journeys across Canada with peace of mind, knowing they are safeguarded against unforeseen medical expenses. Manulife continues to provide resources and tips for travelers on their website, reinforcing their commitment to simplifying financial decisions for their customers.
In addition to raising awareness about travel insurance, the survey conducted by Leger included responses from 1,537 Canadian residents aged 18 and older. This data underscores the need for continued education on the importance of travel insurance, particularly as domestic travel sees a notable increase this summer.
Manulife Financial Corporation, with its extensive global reach and commitment to customer service, remains dedicated to enhancing the lives of its 36 million customers worldwide. As awareness of the importance of travel insurance grows, Manulife is poised to play a crucial role in the financial security of Canadians during their travels.