How To Get Affordable Travel Medical Insurance Plans - A Detailed Analysis

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How To Get Affordable Travel Medical Insurance Plans - A Detailed Analysis

Check this complete guide on how to get affordable Travel Medical Insurance plans.

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Traveling to an international destination is tempting and loaded with excitement. Needless to mention but it is an investment too. Buying tickets, getting the right outfits and accessories, and other miscellaneous items are the top things that come to our minds when planning a trip abroad.

And quite often, most travelers do not pay much heed to buy a dedicated travel medical insurance policy to cover their tour. With a bunch of queries and apprehensions in mind, they find it manageable to rely on either their domestic health insurance or something that their travel agencies provide. Are you someone who belongs to the same bandwagon? Remember, buying an international travel medical insurance also known as visitors insurance should be your prerogative, whether your destination country needs it or not.

If you are a traveller to an international destination, then - "why should you invest in buying a travel medical or travel health insurance policy?" should be on your list of queries. Right? We have crafted this blog with the sole intention of informing you about the benefits of travel health insurance or visitor insurance and how you can grab the best possible deal. Keep reading!

An overview of travel medical insurance/visitors insurance policy

What are the typical inclusions of a visitor's insurance plan? Well! No two insurance policies are the same, and neither are the policy characteristics. However, the basic features of a standard travel medical insurance policy are likely to include the following:

  • Expenses of medical care
  • Emergency evacuation due to a health emergency
  • Sudden onset of a pre-existing health condition
  • Terrorism medical costs
  • Emergency evacuation owing to an unwanted political scenario

International travel and possible health risks

Health risks associated with international travel are often high. It mainly depends on two factors - the nature of travel and the travelers themselves. When flying outside the borders of your home country, you may encounter many travel and destination-induced concerns, including health and travel issues.

The main reasons behind health problems are attributed to differences in altitude, temperature, time zone, humidity between the home and the destination countries. Various pathogens, inadequate hygiene, unavailability of proper medical care facilities are also accountable for such issues.

Besides the above factors, accidents like slip and fall, road collisions, and fender-benders can also lead to hospitalization.

Therefore, all individuals traveling to the United States of America or any other foreign destination should make it a rule of thumb to purchase a travel medical insurance policy beforehand. It is better to be safe now than be sorry in the future.

Ideally, when should you buy a travel medical insurance plan?

It is a common question that most travelers ask before purchasing travel health insurance or visitors' coverage. Probably, you too have this question in your mind. Right? Here go the answers:

  • When your destination country demands proper travel medical insurance protection to allow your visa
  • When you are traveling to a country that is less likely to have suitable healthcare facilities
  • When you are traveling to a country where the cost of healthcare is skyrocketing

These are some of the most prevalent scenarios that make travel medical insurance coverage critical. However, you should not buy an insurance plan because it is mandatory or a rule. Make sure to buy it for the sake of your health and financial safety.

Are the travel medical insurance plans light on your pocket?

The amount you need to shell out to purchase a travel medical insurance policy depends on several factors. Let's take a quick look at them:

  • The age of the potential policyholder
  • The span of the trip
  • The extent of coverage or policy maximum
  • The deductible you choose

A pro tip:

Deductible and cost of travel medical insurance are inversely proportional to each other. What does that mean? It means that the higher deductible your pick, the lower will be the cost of your travel medical insurance plan. So, by choosing a high deductible, you can save on your travel health insurance policy.

Dear would-be travel medical insurance policyholder, you can measure the value of your insurance plan by using two parameters - mental peace and financial security.

If you have adequate coverage in place when traveling overseas, you can rest assured that if, unfortunately, you get injured or contract an illness during your trip, your insurance provider will protect you. So how much are you willing to pay to protect your finances while ensuring peace of mind? Probably, now you have a fair idea that if or not travel medical insurance is affordable.

Take dilemma out of your travel health insurance policy

The technical jargon associated with travel medical insurance plans can be pretty confusing and hard to understand. If you get to decipher them before buying an insurance policy, you could actually save some bucks. So, what are the most common technical terms standard to the insurance dictionary? They are - deductible, premium, medical maximum, and coinsurance. Let us learn about their meanings!

Premium

It is another term used to denote the cost of a travel health insurance policy. So, you can say that it is an amount that you tip upfront in order to purchase a policy. The factors that impact the amount of premium include the following:

  • How old are you?
  • For how long are you going to stay at your destination?
  • What are the medical maximum and deductible you have selected?

In general, you are likely to shell out more premium if the duration of your trip is longer and you are older.

Deductible

It is the amount of money that you shell out before your insurance provider reimburses your insurance claim. The deductible is cut only once during your policy term. Also, a higher deductible means a lower premium because then you will pay off less amount of money against your claim.

Coinsurance

As the name suggests, coinsurance is the amount you share with your insurance service provider.

Here is an example: If your coinsurance percentage is 80/20 for the initial $ 10000 of healthcare costs, you will have to pay 20% of the initial $10000 after meeting the deductible of the plan, and your insurer will pay off the rest 80%.

Medical maximum

This term is also self-explanatory. It is the amount your insurance company will shell out for covered injuries and illnesses that occur during the policy term. Medical maximum and premium are directly proportional to each other. It means a lower medical maximum and a lower premium, and vice-versa.

Comparison is imperative

Are you interested in buying a travel medical insurance policy? It would be one of the wisest decisions as an overseas traveller. To choose the best insurance policy, visit a reputable insurance broking platform like Visitors Guru, review different plans from multiple insurance companies, ask for instant price quotes, compare them, and then zero in on the most suitable policy.