What is a Medical Insurance?

An introduction to Travel medical insurance should take an offshoot from the basics. This entails what health insurance means. Health insurance is insurance coverage that pays for injuries and ailments incurred by an insurance policy holder. Travel medical insurance is a subcategory of medical insurance. It covers an individual’s emergency medical bills during trips abroad. However, this type of insurance doesn’t handle pre-planned medical treatment and chronic conditions. Also, it does cover emergencies and accidents that occur during the travel period. These are why you need travel health insurance.

Travelling can take its toll on the weight of our pockets. But you know we love it! We love travelling, so we need to find a way around it. Did you know that there is a type of insurance that covers your travelling? You had no idea, right? This insurance, called travel insurance, takes care of your travels, including the costs and the losses associated with travelling. It is helpful for travels within your country and those abroad. Travel medical insurance are most times marketed by companies selling tickets or travel packages. Click here to learn about the cheapest destinations for cosmetic surgery.

This travel medical insurance or traveler’s insurance, as the case may be, covers damage to your property, damage to rented property, like rented cars. In some cases, it covers the cost of paying a ransom.

Travel Insurance Insurance Packages:

Travel medical insurance come in different packages that include many types of coverage. But the significant travel insurance package includes;

• Trip cancellation or interruption coverage.
• Baggage and personal effects coverage.
• Medical expense coverage.
• Accidental death or flight accident coverage.

Also, packages round the clock emergency services, like replacing lost passports, cash transfer, and re-booking cancelled flights. Some travel insurance policies can get insurance coverage from existing providers and offer to protect you from refundable costs.

Travel Medical Insurance Trip Cancellation or Interruption Coverage:

Trip cancellation travel medical insurance is also to as trip interruption insurance or trip delay insurance. In this package, the insurance policy refunds you any prepaid, non-refundable travel expenses made. Like other insurance policies, it depends on the acceptable cancellation and interruption causes, the repayment of the amount of money, and the amount available. The grounds for trip cancellation that is most acceptable include;

• Illness.
• A close family member’s demise.
• Unexpected business conflicts
• Weather-related issues.

Trip cancellation will refund fees that your travel agency has refused to refund. For instance, when you buy a package tour for $1000 and the travel agency policy states that all is refundable except for $100, which, for some reason, is non-refundable on cancellation. The travel insurance will cover the non-refundable $100 only. Well, there is no need to protect a refundable airline ticket. It makes no sense.

Baggage and Personal Effects Coverage:

This insurance package ensures your properties, your baggage and personal effects when on a trip. That is, if they get lost, stolen, or damaged during a trip. Whether during travel to and from a destination. Most airlines reimburse travelers when their baggage/property is lost or destroyed due to their fault. But as we know, the airline may not pay in full the amount to be reimbursed. So this insurance package protects you in the event of incidents like this. Having your bags and belonging misplaced or lost is something that has of occurring. Either they get stolen or lost or get spoilt on your trip, and this constitutes a problem.

Most travel insurance policies cover the costs if you have exhausted all options. And you have no more claims. The hotel or homeowners, or renters may cover some of the damage or loss to your baggage. Airlines and cruise lines may also cover some of the loss or damage to your baggage during transport. Also, you have your credit cards which may provide coverage for delays, baggage and rental car accidents, that is, if the credit was used for deposits and other trip-related expenses.

Travel Medical Insurance Expenses Coverage:

Travel medical insurance coverage gets you covered on medical expenses. When stranded, it helps you find doctors and healthcare facilities. It also assists you, if language is a barrier, to get foreign-language services. Medical coverage varies by price and provider, just like every other policy. Some medical coverage may include travel by air to a medical facility or hospital, longer stays in a hospital outside your country, and emergency removal to receive medical care.

For you to assess these policies, health insurance providers require initial approval of coverage. Remember to read the policy provisions and requirements very well before purchasing any policy to see the terms and conditions. Specific inclusions and exclusions as preexisting medical conditions may or may not apply and not assume anything.
Health insurance companies often pay “customary” hospital costs when sick or injured while on a trip. Still, very few will pay for a medical evacuation, and emergency medical treatment may not apply.

There are two main types of this insurance policy. That is the short-term medical coverage and the primary medical coverage.

Short-Term Medical coverage:

Short-term medical coverage is only for a short time frame. For example, it covers your medicals as a traveller, from five days to one year, depending on the package you choose.

Major Medical Coverage:

Major medical coverage takes up a longer time frame. It is mainly for people planning to go on longer trips, i.e. travelers staying on a journey from six months to one year or longer.

Accidental Death and Flight Accident Coverage:

If an accident occurs that ends in the death, disability, or severe injury of a client or a family member accompanying the client on a trip; then this package comes into play. Accidental death and flight accident policy will pay benefits to survive families or beneficiaries under a travel medical insurance.

Flight accident insurance covers accidents and deaths that may happen during flights on a commercial airliner with a licence of operation. However, there are requirements or exclusions such as when the death results from a drug overdose, sickness, etc.

This package, however, may not be necessary if you already have an existing life insurance policy. In addition, your travel insurance coverage benefits may be added to benefits from your life insurance policy, so more money will be accruable to your beneficiaries.

Purchase of Travel Medical Insurance:

The cost of purchasing travel medical insurance varies according to the provider, exclusions and package. You should be conscious of reading all disclosure statements before purchasing any insurance. There are insurance policies for single, multiple, and yearly travel. An insurance policy for a single trip is suitable for people who travel once in a while. For people who go on trips frequently, Multi-trip coverage is the real deal. It covers many trips occurring in one year, but it does not include trips exceeding thirty (30) days. Annual insurance policy protects for an entire year.

The traveler’s age, the destination, the cost of the trip and the type of coverage, together with the duration of travelers insurance coverage, to the cost of purchasing a travel insurance policy. A standard single trip policy will cost between 4% to 10% of the trip’s price.

When embarking on a trip, you should register your travel plans with the State Department by registering on their website. This will help the nearest embassy or consulate contact them if there is a family, state or national emergency. Check out easy ways to travel on a budget.

Best Travel Medical Insurance Companies 2020

• HTH Worldwide.
• Seven Corners.
• Trawick International.
• USI Affinity Travel Insurance Services.
• AIG Travel.
• April International.
• AXA Assistance USA.
• Generali Global Assistance

Choosing A Travel Medical Insurance Policy

Consider the following before you make your final decision on a travel medical insurance undertaking:

• Travel Frequency

If you frequently travel in a year, then you should think of buying an annual multi-trip policy. However, old persons and people with medical conditions should go for single trip policies.

• Your Stay

How long will your trip take? Few days or longer? These are what you should consider before choosing a policy. Some yearly policies may range from the number of days of each trip for the year. If your trip is for a more extended period, a gap year or backpacker policy will be preferable.

• Your destination

Consider if there is coverage for the country or place you are going to. For example, some travel insurance policies coverage for locations within Europe, and some do not cover specific long-haul destinations. If your destination is so far, consider buying a worldwide policy or a single trip policy for your particular destination. Also, many travel insurance policies do not cover high-risk destinations.

• Your activities

Whatever your reasons are for taking a trip, find out if your insurance will cover any risk that may arise. For example, if you are travelling for sports or leisure activities, you should consider buying a specialist policy.

• Your baggage and personal effects

Your insurance policy may not cover the particular thing you may be carrying along with you. Ensure you go through your policy very well. If you have high priced possessions you intend to carry along, then a specialist mobile phone/gadget insurance is advisable as they typically provide higher cover limits. Report any loss to the police within 24 hours to have proof of notification as it will be required.

• How many people are travelling with you

A family or group policy is advisable if you are travelling with people. Be informed about any relevant medical details about the people you may be travelling along. Be conscious of the policy terms.

• Cancellation cost

Before booking an expensive trip, you may want to recheck your policy. Study the trip package well to avoid assumptions. It has to meet the total cost of your holiday. It should allow you to claim unused travel and accommodation costs that you are not able to recover. When travelling at short notice, on a low-cost holiday or with a flexible ticket, you may decide that you do not need cancellation cover at all. You may be compensated by the airline or refunded by the travel provider if your trip is cancelled or delayed. Here you can choose from varieties of Travel Medical Insurance that suits you.