It’s summer now and you’re probably thinking of going someplace fun to enjoy the sun. But is your insurance updated? This is one of the most important concerns you should have when you go travelling during the summer. Here are the three priorities you should bear in mind regarding your insurance.
First, you should have both your health insurance and your life insurance updated before you travel. Travelling is indeed an adventure in itself and like all adventures your summer travels carry with them a degree of risk. Health insurance will assure you of ready access to care at clinics and hospitals, and by doctors who are affiliated with your insurance provider. Life insurance on the other hand will give you peace of mind. The difference between the two is that you stand to benefit directly from health insurance while with life insurance your beneficiaries will benefit.
Second, make sure you have updated your life insurance record of beneficiaries. Some people might be insured but they may need to check if their current beneficiaries are revocable or irrevocable. If you placed a relative as your beneficiary but are now thinking of putting someone else as beneficiary, you need to do this before you go travelling. Otherwise if you die the current beneficiary will receive the proceeds from your policy. The same holds true no matter how many beneficiaries you already put down. If you already named them as your irrevocable beneficiaries then there is nothing you can do anymore to change that.
Third, are you sure that your health insurance has accredited clinics, hospitals and doctors in the area where you will take your vacation? Some health insurance providers might have no accredited health care partners in the vicinity where you will be staying so that’s a risk for you especially if you suddenly need emergency health care. Usually, health insurance providers will provide their members with a complete list of accredited health partners for all regions in the country where the health insurance applies. If you haven’t gotten a list yet, be sure to ask for one from your health insurance provider well in advance before you go on vacation. This simple list may well save your life in case you encounter a medical emergency on your summer travels.