Do you really need travel insurance?
However, the single biggest reason for getting travel insurance is medical cover. If you've ever been overseas and required medical aid, you'll know just how valuable travel insurance is. Without it, you are personally liable for covering medical expenses - and the cost could be exorbitant depending on your situation.
No one wants to fall sick or require hospitalisation while they're holidaying, but it happens. Accidents and illnesses are often unavoidable, so having the right level of travel insurance can give you peace of mind and ease financial burdens.
Each year, the Australian government handles over 20,000 cases involving Australians in difficulty overseas, including those requiring hospitalisation or evacuation. However, they will not pay medical expenses incurred overseas, and neither will Medicare.
According to the Department of Foreign Affairs and Trade (DFAT), the cost of medical evacuations from the United States regularly range from $75,000 to $95,000 and sometimes up to $300,000. In Southeast Asia, a favourite destination for Australians, daily hospitalisation costs can exceed $800. Medical evacuations from Bali have exceeded $60,000. Imagine having to pay these bills out of your own pocket.
The government's view is that travel insurance is as essential as your passport. They have dealt with cases where families have been forced to sell assets, including superannuation or family homes, so that they could bring loved ones back to Australia.
Given this risk, it makes sense to buy travel insurance and get yourself covered for the duration of your trip. With Australia Post's affordable travel insurance policies, you'll have cover for a wide range of possibilities plus have access to a 24-hour emergency assistance team.
This advice is general in nature, and doesn't consider your needs or personal situation. You should consider your own needs and the Product Disclosure Statement (PDS) before making a decision to buy the product.
Limits, conditions, exclusions and fees apply. Policies may not be available to all travellers. Australian Postal Corporation ABN 28 864 970 579 (AR No 338646) is the distributor of Australia Post Travel Insurance and is an Authorised Representative of Australia Post Services Pty Ltd ABN 67 002 599 340 (AFSL No. 457551). Insurance products are issued by Great Lakes Australia ARBN 127 740 532, ABN 18 964 580 576, AFSL No. 318603. Review your own needs and the relevant Product Disclosure Statement before deciding to buy this insurance. Download a copy of the combined FSG/PDS (548kb) here, or for our In-store international Travel Insurance policy download a copy of the $6 a day Travel Insurance Product Disclosure Statement (388kb) here or the $10 a day Travel Insurance Product Disclosure Statement (444kb) here, or contact us on 1300 728 015 or email email@example.com