Travel insurance doesn't pay for these bank customers

Three customers who bought travel insurance from Canadian banks are outraged after being left with large foreign medical bills.

“They’re like a good gambler that never loses,” said Cyrus Derakhshan of Oakville, Ont. He is fighting RBC over a $16,500 claim denial for his 70-year-old mother. “For them it’s ‘Heads I win, tails you lose.’”

The banks refused to pay in these cases, based on how the customers answered broad-ranging questions about their health when they bought their policies.

“They hold all the cards in their hand. It’s a poker game, and I don’t think we are the winners,” said Jean Tetiuk, of Toronto, whose $12,000 claim was rejected by CIBC.

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Tomlinson, Kathy. “Travel insurance doesn’t pay for these bank customers.” CBC. CBC News, May 26, 2014. Web. Oct 14, 2014.