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How many of us know about the basics of life insurance? If anyone approached you, would you be able to explain how life insurance works, or the cost of life insurance in detail? Would you be able to explain the procedure you can use when picking the best life insurance policy in Canada?

Life insurance may be one of the most important purchases you make. It is basically the pinnacle of the whole adulting thing. If you think a policy is too expensive, or your employer-offered insurance is enough, think again, analyze and research. The bottom line is, you need enough life insurance

Although it is not a mandatory requirement in Canada like car insurance, you and your loved ones will in one way or another need life insurance when you least expect it. This is especially important if you have dependents who will be largely affected financially should you as the sole provider die. It can be used to pay off debts like mortgages of a home that is to be inherited.

Below is an analysis of everything that entails life insurance policies including their different types, their cost, and who should be investing in them:

critical illness insurance

Travel Insurance?

When you’re getting ready for that field trip, vacation, business trip, or a quick visit of your friend or relative for a few days, insurance may not be the first thing that comes to your mind. But, while traveling, there is a possibility of things going wrong and that will make you blow a lot of money.

Flights and accommodations may get canceled, your essentials may get stolen or vandalized, and you may get lost or stranded or sometimes sick in a foreign land. During such events, you may not get to enjoy the trip as you had planned. You may even miss a special meeting and lose money while trying to smoothen the situation. These are just some of the reasons people invest in travel insurance.


Travel insurance is a coverage plan that ensures you don’t spend a lot or go broke if something goes wrong while traveling in Canada or beyond the borders.

Whether you are traveling solo, with a company or business, or as a family, we at Policyhub are dedicated to providing an inclusive and customized travel insurance plan as per your needs. Our goal is to ensure you accomplish your travel plans while we worry about your safety and that of your belongings.

Choosing Policyhub as your travel insurance partner is choosing reliability.

What is travel insurance?

A travel insurance policy plan is designed to cover all the travel costs and losses incurred during traveling either domestically or abroad. With travel insurance, you can avoid certain kinds of unexpected events that can occur before or during your trip.


It is designed to ensure you have an effortless, peaceful, and well-planned travel plan. This type of insurance plan is common among companies that sell tickets and travel packages. The kind of travel insurance offered is designed to cover damages to personal property, rented equipment as well as ransom.

How does travel insurance work?

Travel insurance coverage works the same way a car or home insurance works; a claim should be filed if anything happens while on your trip. This way, the insurance company reimburses you to cover the necessary bills or damages. Starting to file a claim for reimbursement depends on your insurer.

Travel insurance plans are purchased directly from a travel insurance company often when buying a cruise, airfare, or booking a rental house for vacation. We encourage anyone who wants to invest in travel insurance plans to pay attention to the finer details and what is applicable for reimbursements. 

When should I buy Travel Insurance?

 Travel insurance is designed to protect the insured from unforeseen events that can result in financial instability while traveling. This means that for the travel insurance to do its work, it needs to be bought before the intended travel date and event. Travel insurance is best bought and often bought when the policyholder books a trip to ensure that you are eligible for all the things you want covering.

Why should you buy travel insurance?

A travel insurance plan provides coverage for all the possible risks of traveling that may tip your financial stability while traveling. If you have invested a lot in your trip or have sensitive and essentials you will be traveling with, considering travel insurance is more than an option.

You may also want to consider the insurance plan if you are traveling far or in a remote place with limited essential services like medical services. It’s also important to consider it if you have children accompanying you. Ideally, you can tell how a trip will turn out but travel insurance is a guarantee of a better experience. 


What should I consider when considering purchasing Travel insurance? 

There are three things you need to keep in mind before deciding if you need travel insurance. These are: 

Cost – if you have invested so much in the trip and you can’t afford to lose the money then travel insurance is the safest way to guarantee that.

Destination – if your destination is a place across the world, maybe a remote place with no reliable social services, travel insurance is advised to be on the safe side should anything happen along the way.

Traveler – if the traveling team includes children or older people, you might need travel insurance for a guarantee of a good time.


What does travel insurance cover?

Travel insurances come in packages that may include:

  •         Cancellation of trips
  •         Interruption of trips or delays 
  •         Baggage and personal effects coverage
  •         Medical expenses coverage
  •         Accidental/death coverage

The cost of travel insurance

The highlights below can be used to give you an idea of what travel insurance might cost relative to your trip and at the same time making it worth it. Averagely, the average cost varies between 4-12% of the cost of your total trip. While there are different types of plans- standard/basic, preferred, and premium- each type has different costs although subjected to additional coverages and coverage limits.


 How do I make a claim?

In case you run into a situation that requires you to make a claim, you are to obtain the claim papers, follow all the instructions in filling them up and submit them to make your claim. Different insurance providers have different approaches and forms for different groups of people as follows. Make sure you use the right form for the claim to be swift

  • Out-of-Country and Out-of-Province Coverage and Claims
  • Trip Cancellation / Baggage Claim Form
  • Visitors to Canada Travel Plan Claim Form


Can I get travel insurance for my younger kids and spouse

When purchasing travel insurance as a parent, most insurance providers provide travel health coverage for the children of the beneficiary below 18 years. Check with your insurer to be on the know of what offers they have for the policyholders with younger children.

We advise all travel insurance applicants to understand the insurance plan and ask questions regarding the coverage. 

For policyholders with spouses, check the benefits offered to your spouse. Some travel insurance companies have policies that cover the spouse and the dependent children traveling with you. Some of the other things that may be covered within this policy include medical expenses, lost personalities, trip cancellation, delays, and more. 

It is advisable to discuss the extent of your travel insurance policy with your insurer.


Should I Buy a single trip or multiple trip travel insurance plan? 

It is advisable to buy a multiple travel insurance plan over a single plan anytime. This is because buying a multiple trip plan is a more logical and affordable option for those with the intention of making more than one trip. Instead of buying one single trip plan for every time you travel, how about buying a trip plan that will have you covered for multiple trips and keep you from the constant hassle of the same process over and over. Plus you will be covered for any more trips (up to 15 days in length) taken within the year.

Take it as you saving by having more trips at a cheaper price and convenient process. 


 What company offers the best car insurance policy in Canada? 

Traveling insurance is a delicate investment because it is meant to rescue you from an unplanned situation in the nick of time. You need an insurance company that is quick with its paying of the claims and straight forward with the communication and financial advise.

When shopping for a home insurance plan, go for an insurance provider that is knowledgeable and experienced with vast know-how of the industry. 

While there are a number of A-list insurance companies in Canada offering reliable travel insurance plans, Policyhub has established itself as the most trusted when it comes to customizing pocket-friendly services, offering accurate information and delivering top-notch services on time. 

We aim for being there right when you need us.

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