knowledge topics
Travel Insurance
KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals
- Identify sources of travel insurance policies, such as:
- Travel agent
- Group insurance plans
- Financial institutions
- Insurance companies, agents and brokers
- Credit card providers
- Identify types of coverage that may be available under a travel insurance policy, such as:
- Emergency hospital visits/stays
- Emergency surgeries
- Health care related medical services (doctor and dentist)
- Drugs and medical appliances related to a medical emergency
- Ambulance services
- Costs to return home for insured and travelling companions
- Repatriation
- Identify optional coverages that may be available on a travel insurance plan, such as:
- Trip cancellation
- Trip interruption
- Lost baggage
- Identify for whom a travel insurance policy may be suitable, such as:
- Individuals travelling outside of their province of residence, but remaining within Canada
- Individuals travelling internationally
- Identify exclusions contained within travel insurance plans, such as:
- Pre-existing condition
- Condition that is unstable
- Pregnancy
- Acts of war
- Self-inflicted injuries
- Mental disorders
- Locations with a travel advisory warning in place
- Identify when a travel insurance policy may be underwritten.
- Pre-approval
- Post-claim
- Identify the potential impact that may result from the time of underwriting for a travel insurance policy.
- Identify that travel insurance policies may contain a first-loss payable clause.
- Identify the potential implication of a first-loss payable clause.
- Identify types of travel insurance policies that may be available, such as:
- Per trip
- Annual coverage
- Identify factors that may impact the premium of a travel insurance policy, such as:
- Number of individuals covered
- Age
- Benefit coverage
- Length of coverage
- Health history (pre-existing condition)
Glossary of Verbs (mouse over to see definition)
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Define
To state exactly the meaning of
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Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
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Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
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Compare
To note the similarities and differences between two or more things
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Estimate
To determine an approximate value for
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Calculate
To find the value using mathematics
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Convert
To change from one form or purpose to another
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Evaluate
To reach a conclusion or make a judgement through careful study
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Interpret
To give the meaning of / to construe or understand / to translate orally
Read more about the Taxonomy used in the FP-BoK
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