Travel Insurance

Definition

• A form of insurance policy that provides coverage for any unforeseen events and outcomes that may occur during an out of province or out of country trip. Depending on the policy selected, travel insurance can cover medical expenses, trip cancellations, damage to rental equipment, theft or damage to personal belongings, or in some cases, kidnapping and ransom (K&R).

Synonyms
Canadian travel insurance, travel insurance plans, travel coverage

Related Terms and Acronyms

• Accidental Death and Dismemberment Insurance — Definition,
  • Insurance coverage for death or dismemberment (the loss of a body part).
• Air Miles — Company,
  • One of the most popular rewards issued by airline-affiliated co-branded cards. Air miles are earned with every use of the card, and then transferred monthly to the cardholder's account with that airline.
• Alien Abduction Insurance (AAI) — Acronym, Cosmos,
  • Insurance that covers costs resulting from alien abductions.
  ➥ An extra-terrestrial abduction policy.
• Broad Form Insurance — Definition,
  • Insurance that covers rare events not normally covered in an existing insurance policy.
• Coverage — Definition,
  • The type or amount of protection afforded by an insurance policy.
• Coverage Area — Definition,
  • A geographical area where travel insurance coverage applies.
• Health Insurance (HI) — Acronym,
  • Insurance that covers the costs of medical expenses for insured persons.
• Healthcare Plan — Definition,
  • Insurance that can cover medical and dental expenses for insured people.
• Insurance (insur) — Abbreviation,
  • An arrangement where one party provides financial protection to another party for specific damages or losses.
• Insurance Claim — Definition,
  • An application for benefits made by an insurance policyholder after an insured event.
• Insurance Policy — Definition,
  • A legal contract between an insurer and entity that specifies what the insurer is required to cover and any benefits the insured entity is entitled to.
• Kidnap and Ransom Insurance — Definition,
  • Insurance that covers expenses involved if an individual is kidnapped and ransom payments are made.
• Life Insurance — Definition, Very Important,
  • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
  ➥ CanEquity offers life insurance.
• Pre-paid Insurance — Definition,
  • A insurance policy where insurance premiums are all paid in advance, normally offered in one year terms.
• Travellers' Cheques — Definition,
  • These are a safe way to carry large amounts of money if you are going on a trip. They are considered to be the same as cash, but can be replaced if they are lost or stolen. You can buy them at your bank for a small fee. If you have a special service package, you may not have to pay this fee.
• World Insurance — Definition,
  • Insurance that provides coverage worldwide.