Travel Medical Insurance

What does travel medical insurance cost?

A few clear factors set the price. Know them, and you’ll understand any quote — and where you can trim it without losing the protection that matters.

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What drives the premium

Age of each traveller — the biggest factor, as with all medical coverage.
Destination — US-inclusive trips cost more; some plans let you exclude the US to save.
Trip length — you pay for the days covered.
Coverage amount — higher limits for higher-cost destinations.
Deductible — a per-claim deductible lowers the premium.
Pre-existing coverage — adds cost but can be essential for older travellers.

Illustrative examples

These ranges are illustrative only — not quotes. Real rates depend on the insurer, exact age and health, destination, deductible, and date of purchase.

Illustrative daily cost ranges for emergency travel medical, healthy traveller. For factor comparison only — not a quote.
Traveller age	Non-US trip*	US-inclusive*
Under 40	$1–$3 / day	$2–$5 / day
40–59	$2–$5 / day	$4–$8 / day
60–69	$4–$8 / day	$6–$13 / day
70+	$7–$15 / day	$11–$22+ / day

*Illustrative only. Pre-existing coverage and higher limits increase these; a higher deductible reduces them.

Ways to lower the cost

Exclude the US if your trip doesn’t go there.
Choose a deductible you’re comfortable with.
Go annual if you travel three or more times a year.
Buy the exact days you need, no more.
Compare insurers — prices vary for the same trip.

A worked example: how the factors stack up

Daily numbers are easy to skim past, so here is how they compound on an actual trip. Say Raj and Priya, both 64 and living in Mississauga, book a three-week visit to family in Florida — a US-inclusive trip. Sitting in the 60–69 band above at roughly $6–$13 a day each, twenty-one days works out to about $125–$275 per person, or somewhere near $250–$550 for the couple. That is an illustrative range, not a quote: adding pre-existing medical coverage, a higher coverage limit, or a nil-deductible option pushes it up, while accepting a per-claim deductible pulls it down.

Two things can change the math quickly. First, if either of them takes medication for blood pressure or cholesterol, the plan’s stability period decides whether that condition is covered and at what price — see pre-existing conditions for how that works. Second, if this is their third trip abroad this year, an annual multi-trip plan may cost less than buying single-trip coverage three separate times.

How a deductible moves the premium

A deductible is the amount you agree to pay per claim before the plan pays the rest. Raising it typically lowers the premium; the trade-off is more out of pocket if you do claim. The direction below is illustrative — the actual saving depends on the plan and insurer, so confirm current terms before purchase.

Illustrative direction only — not a quote. Confirm current terms with the insurer.
Deductible per claim	Typical effect on premium	At claim time
$0 (nil)	Baseline — highest premium	Insurer pays from the first dollar
$100–$250	Small reduction	You cover the first $100–$250
$500	Moderate reduction	You cover the first $500
$1,000+	Largest reduction	Highest out-of-pocket if you claim

Where not to cut. On a US-inclusive trip, a single hospital stay can run into six figures in US dollars, so trimming the coverage amount to save a few dollars is the one saving that can backfire. For US travel, many advisors keep the limit high and look for savings in the deductible or the exact trip dates instead.

Get the price right the first time

An accurate quote needs accurate inputs. Have these ready before you buy so the premium reflects your real trip — and so a claim later is not put at risk by a detail that was off:

Exact ages at departure — age is the largest driver, and a birthday before you leave can move you into the next band.
Every country on the itinerary — including a US layover or stopover, which can shift you into US-inclusive pricing.
True departure and return dates — buy the exact days you are away, no more.
An honest health picture — current medications, recent tests, and any changes; understating them can void a claim rather than save money.
A coverage amount that fits the destination — higher for the US and other high-cost regions.
Your deductible preference — the level of out-of-pocket you are comfortable with.

Not sure which combination gives you the right protection for the price? Compare plans or ask us for a quote and we will price it against your actual trip.

Cost FAQ

Why does US travel cost more to insure?

Because medical care in the United States is among the most expensive in the world, insurers price US-inclusive plans higher than plans that exclude the US. If your trip doesn't include the US, you may be able to save.

Is an annual plan cheaper than several single trips?

If you take three or more trips a year, an annual multi-trip plan is frequently cheaper than buying single-trip coverage each time. See single-trip vs multi-trip.

Does a deductible lower the cost?

Yes — choosing a per-claim deductible typically reduces the premium, which can be a sensible trade for healthy travellers.

How much should I set aside for the deductible at claim time?

A deductible is the amount you pay out of pocket per claim before the plan pays the rest, so a $500 deductible means the first $500 of an eligible claim is yours. A higher deductible usually lowers the premium but raises what you would pay if something happens, so pick a figure you could comfortably cover while travelling. Exact terms depend on the plan — confirm with the insurer before purchase.

Does buying earlier lower the price?

Timing usually has less effect on price than age and destination do. Most plans must be bought before you leave Canada, though, and buying earlier can protect your eligibility if your health changes before departure — so there is little upside to waiting. Confirm the purchase deadline with the insurer.

Is the daily rate the same for a long trip as for a short one?

Not always. Some insurers price a longer trip at a slightly different per-day rate rather than a flat daily figure, and a few cap the maximum trip length per plan. For a long stay, confirm both the per-day cost and any trip-length limit with the insurer before you buy.

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