You're ready to jet-set, traverse the terrains, and conquer the open road? Splendid! But while embarking on your adventure, there’s a less-than-glamorous sidekick you need to consider. No, it’s not your well-intentioned, but slightly weird friend - it's travel insurance! Though it may sound as exciting as a three-hour layover, here's why this often overlooked pal is actually the life of the travel party.

A New Kid in Town - Personalized Travel Insurance

Travel insurance, a critical aspect of trip planning, is evolving with the introduction of personalized plans, offering unique advantages over traditional policies. Jeff Wright, CEO of Allianz Global Insurance, reveals that these customized policies are a well-kept industry secret, primarily because only a select few providers offer them. Unlike standard policies, which generalize premiums and coverage by lumping travelers together, personalized plans tailor these aspects to an individual's specific medical history.

What Is a Pre-Existing Condition for Travel Insurance?

A pre-existing condition for travel insurance refers to an injury, illness or medical condition that prompted you to seek treatment, experience symptoms or take medication before buying the travel insurance policy, according to Allianz Travel.

Travel insurance companies normally exclude pre-existing conditions from coverage. These conditions rank among the most frequent reasons for denial of travel insurance claims.

A pre-existing condition waiver means a travel insurance company can’t examine your recent medical records when it’s reviewing a medical claim.

Pre-Existing Conditions Not Eligible for a Waiver

Even with a waiver, some conditions likely won’t be covered by travel insurance, such as:

• Alzheimer’s disease
• Anxiety
• Complication-free pregnancy or childbirth
• Dementia
• Depression
• Illness or injury related to alcohol or drug abuse
• 
  

Some high-dollar trips (perhaps $50,000 or more) also may be ineligible for pre-existing condition waivers.

Be sure to carefully read your travel insurance policy to see what’s covered and what’s not when it comes to pre-existing conditions, or ask your travel insurance agent for help. Also, be aware of the policy’s limits for travel medical insurance and medical evacuation coverage, to avoid any surprises.

For instance, in the case of heart conditions, standard policies often categorize all heart-related issues similarly. However, personalized plans discern between varying severities, like stable atrial fibrillation and more serious heart conditions, potentially leading to significant cost reductions. 

A standout feature of these plans is their coverage of pre-existing medical conditions without a stability requirement. This contrasts sharply with standard policies, which often include a 'stability clause,' mandating that pre-existing conditions be stable for a certain period (ranging from 90 to 365 days) for coverage.

How to Get a Waiver for a Pre-Existing Condition

You can generally get a pre-existing medical condition exclusion waiver only within 14 to 21 days of making your initial deposit for a trip and only if you insure the full nonrefundable costs of the trip. So it’s really best to buy your travel insurance immediately after booking your trip, and sure the policy includes the exclusion waiver. There is typically no extra cost for the waiver.

If you meet the eligibility requirements for a waiver, such as being “medically able” to travel when your policy is purchased, the insurance company won’t charge extra for a waiver. And most travel insurance policies don’t impose an age limit for getting the exclusion waiver. Common claims tied to pre-existing conditions include emergency medical care, emergency medical evacuation, trip cancellation, and trip interruption.

Here are three possible scenarios where a pre-existing condition exclusion waiver could be used:

• You have pre-existing arthritis that brings a halt to your trip plans.
• You suffer a mild heart attack while on your trip after being diagnosed with coronary artery disease.
• You experience a flare-up of pre-existing lupus while you’re on a cruise.

Without a pre-existing condition exclusion waiver, a travel insurance company won’t pay for medical bills or claims related to your recent medical history. With the exclusion waiver, a travel insurance company can’t examine your recent medical records when it’s reviewing a medical-related claim.

Overall, personalized policies tend to offer better coverage, pricing, and features. Their advantages include no stability requirement for pre-existing conditions, potentially lower premiums based on individual medical history, and providing coverage where standard plans might not. It's important for travelers to compare all available options, as personalized coverage can benefit a wide range of travelers, including those with pre-existing conditions, recent health changes, or even those in good health seeking lower premiums.

Conclusion

Travel insurance offers a safety net that can save you time, stress, and, most importantly, money in various unforeseen situations. While it’s natural to think that none of these misfortunes will befall you, it's always better to be safe than sorry. Therefore, the next time you're planning a trip, make travel insurance a non-negotiable item on your checklist.

Our Recommendation

Travel Guard by AIG Travel was awarded top honors by Forbes Advisor in their Best Travel Insurance provider list for consumers. Out of 15 travel insurance companies ranked by the financial news outlet, AIG Travel came in first, based on a rigorous, data-driven methodology.

Is your trip coming up quickly? Interested in getting a quote? With their online product comparison tool, just answer a few questions about your trip and they will provide you with a quote for the most popular plans.

24 Hour Concierge

Travel Guard makes sure their customers receive not only superior trip insurance coverage but also a lifeline when away from home. For example. if there is an emergency or delay, they can help you find a new flight. Expenses incurred from third-party vendors for assistance services not part of a filed insurance plan are the responsibility of the traveler.

At Travel Guard you'll be able to find exactly what you're looking for in terms of Travel Insurance. Make sure you're always protected.