The cost of an out-of-country medical emergency can be staggering. Traveling abroad without coverage may require the individual, or their immediate family, to liquidate assets in order to cover the bills.
I am aware of many instances where the travellers’ children, intent on preserving an estate but whose parents may not be able to cover the full cost of the travel insurance premium, pay for the insurance.
This Journal article sites “forgetfulness and lack of risk awareness” as two reasons for not purchasing a travel insurance policy.