Timely template letter: Clear your clients for takeoff by helping with travel insurance

(February 2004) Do you have clients heading for warmer climates this winter or planning a dream vacation abroad in the summer? Before you say “bon voyage,” show your value by ensuring they have adequate travel insurance coverage. Use this customizable template letter to start this discussion:

Dear [Client’s name],

If you haven’t noticed, it is really, really cold outside.

About this time of year, many of my clients decide to escape the harsh Canadian climate for a little while. Some travel to Cuba, others take a trip to Spain, and still others head to the southern United States. Whatever your destination is this year, I hope you have a safe and enjoyable trip.

My best wishes, however, won’t help you should you experience an accident or illness during your holiday. If you’re not covered under a group plan, you should seriously consider taking out travel insurance.

Canadians are proud of their healthcare system, and rightly so. But when we leave the country, we’re on our own. “Do not rely on your provincial health plan to cover costs if you get sick or are injured while you are abroad,” says a brochure published by the Canadian Department of Foreign Affairs. “At best, your health plan will cover only a portion of the bill.”

An illness or accident while abroad could not only spoil your trip, it could also cause serious financial hardship. According an article published in the London Telegraph, something as common as a broken leg could cost you more than $9,000 in Switzerland and more than $14,000 in the United States — that sort of unforeseen expense could leave a serious hole in your retirement plans!

If you have any questions or would like to look at your travel insurance options, I hope you won’t hesitate to contact me at the address above. I’d be happy to shop the market and find a plan — and price — that suits your individual circumstances.

Sincerely,

[Your signature]

[Your name]

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.