ZRod

Did it cover anything medical related that may pop up?

I wasn't able to go to Beijing last summer due to strained back.  I had flight insurance and they refunded my ticket price.  Not sure that all policies are the same though.  

Yes for my big trips.   You have to typically ask for additional health related coverage (in addition to cancellation, weather delays etc). Honestly it would depend (for me) where I was travelling.  A place like England and other European spots healthcare is pretty good -and sometimes out of pocket costs for an emergency are cheaper than what you'd pay with insurance.  If you're going more "rustic" make sure you have evacuation insurance for emergency, and make sure they promise you an english speaking/trained physician. Check your ins to see what they cover if you are away and depending on where you work - my employer had some supplemental international support.   There are also a couple free tools for international care that I can post when I get home if you like.