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Insurance Terms
Confused by some of the “insurance-ese” on your policy? Use this glossary to understand some of the common terms and phrases used on travel insurance documents.
General Insurance Policy Terms
Actual Cash Value
the amount an item is worth based on its market value, age and condition at time of loss
Baggage
luggage and personal possessions, whether owned, borrowed, or rented, that are taken by an insured person on a trip
Baggage Delay
luggage that is delayed or misdirected by a common carrier for at least 12 hours
Baggage Coverage
stolen or damaged baggage
Claim
the entitlement of benefits as provided to you by the certificate of insurance
Coverage Period
the time insurance is in effect, beginning on the effective date and ending on the expiry date
Covered Service
a service or supply specified in the certificate of insurance for which benefits will be provided
Declaration Page
a confirmation of coverage letter which outlines the details of coverage and which is sent to the insured person upon enrolment
Effective Date
has the following meaning depending on the coverage and benefit:
- Trip Cancellation and Interruption Coverage - effective date means 00:01 on the day after your premium payment is received (using local time at your Canadian address)
- Emergency Medical and Dental Coverage - effective date means the time and date on which you leave your province, or territory of residence
- All other coverage - effective date means 00:01 on the day you are scheduled to leave your departure point. (using local time at your Canadian address).
Emergency Medical / Dental Coverage
the services or supplies provided by a physician, dentist, hospital or other licensed provider that are medically and immediately necessary to treat a covered medical illness or injury that is is acute (onset is sudden and unexpected) and which cannot be reasonably delayed until the insured person returns to their home country without endangering their health.
Emergency Medical Transportation
arrangement to medically transport an insured person to an appropriate medical facility or to return home in order to receive care
Insurance
a binding contract to indemnify an insured party against specified loss
Medical Evacuation
when an insured person is transported to the nearest appropriate medical facility as a result of Mondial Assistance’s consulting physician, and the local attending physician’s determination, that adequate treatment is not available locally
Medically Necessary or Medical Necessity
the services or supplies provided by a hospital, physician or other licensed provider that are required to identify or treat an illness or injury that Mondial Assistance determines is consistent with symptoms of your disease or injury, and appropriate with regard to standards of good medical practice
Normal Pregnancy
a pregnancy or childbirth that is free of complications or problems
Pre-Existing Condition
a medical condition that existed prior to the effective date of the insurance.
Primary Residence
a person’s fixed, permanent and principal home for legal and tax purposes
Quarantine
a restraint upon the activities or communication of persons or the transport of goods that is put in place to prevent the spread of disease
Reasonable and Customary Charge
a charge in an amount consistently made by other vendors/providers for a given service in the same geographic area and which reflects the complexity of the service, taking into account availability of experienced personnel, and availability of services or parts
Repatriation of Remains
transport of an insured persons remains from the place of death to the place of residence or an appropriate receiving facility
Return of Children
arrangement to return an accompanying dependent child to their place of residence with an escort if you are hospitalized for more than 24 hours or must return home due to a covered emergency medical condition
Scheduled Departure Date
the date on which you are scheduled to start your trip as shown on the Declaration Page (using the local time at your Canadian address).
Terrorism
an act including, but not limited to, the use of force or violence and/or the threat thereof, including hijacking or kidnapping, of an individual or group in order to intimidate or terrorize any government, group, association or the general public, for religious, political or ideological reasons or ends, and does not include any act of war (whether declared or not), act of foreign enemies or rebellion.
Transport to Bedside
arrangement to bring a friend or family member to the bedside of the hospitalized insured person if the insured person is travelling alone and is to be hospitalized for more than three consecutive days
Travel Companion
a person with whom an insured person is sharing travel arrangements and prepaid accommodation.
Trip
a period of round trip travel to a destination outside of your province of residence that is not for the purpose of obtaining health care or treatment of any kind.
Trip Cancellation
provides reimbursement for non-refundable trip payments and deposits if a trip is canceled prior to departure due to a covered reason
Trip Cost
total non-refundable dollar value for all insured persons
Trip Delay
when a departure is delayed for six or more hours, the benefit provides reimbursement for meals and accommodations under certain policies
Trip Interruption
provides reimbursement for non-refundable trip payments and deposits if a trip is interrupted after departure due to a covered reason
Underwriter
an entity that selects risks for insurance and determines in what amount and on what terms the insurance company will accept the risk. All Mondial Assistance products are underwritten by Allianz Global Risks US Insurance Company.
Vehicle Return
coverage for the cost of transporting an insured person’s personal automobile back home when an unexpected illness or injury prevents completion of their trip
