If you hold CIBC Aerogold VISA, you can get emergency travel medical insurance for an addition fee of $122/year for a family of 3 (this example assumes that your family of 3 includes me, Catherine and Oliver: your mileage may vary, depending on your age). This covers you for multiple trips of up to 15 days, with additional top-up days available for $5.13/day.
However, CIBC also offers the CIBC Club Privileges Travel program, which costs $199/year, and includes family emergency travel medical insurance for multiple trips of up to 7 days, with the top-up amount the same $5.13/day. However this program also includes priority boarding, lounge access, and a yearly free companion ticket.
Depending on your travel patterns, this second program might end up being a better deal. It was for me.
I don’t know what the statistics are, but I imagine many people travel without insurance (many people probably have it included in their work health plan, I imagine). I’ve heard enough “if I didn’t have that insurance I would have had a $50,000 hospital bill” stories from travelers to the U.S. to invest in it every time I go out of the country. Thanks to brother Johnny, I remembered to do so for a trip coming up later this week.