Traveling internationally isn’t just a fun and memorable experience, it also offers you a great way to save on expenses like insurance. For instance, the group travel medical insurance plan offers you two great ways to save money while traveling abroad.
Travelers will save on the cost of insurance itself. By splitting the expense of group medical insurance across each person in your traveling group, you’ll find the individual cost to be lower than buying your own plan of comparable coverage.
The second way group insurance saves you money occurs when you use it. Your current insurance policy probably doesn’t cover healthcare needs that arise while you’re traveling overseas. That means that if you were to visit a doctor or a hospital during your international trip, you’d have to pay the full price for your medical care. Instead of the standard pays you’re used to, you’d suddenly be responsible for hundreds or even thousands of dollars in medical expenses.
Group medical insurance saves you from those high costs. It uses the same model you’re used to with your own insurance policy, paying out 100% of expenses incurred above and beyond your deductible. You’ll choose your deductible level (anywhere from $0 to $2,500) based on personal preference and how much in premiums you’re willing to pay.
Group travel insurance is ideal for missionary groups of five or more people who may be concerned about the state of countries they are visiting. It covers standard medical expenses as well as extreme circumstances like evacuation expenses, terrorist attacks, and natural disasters.
Your tour group travel insurance policy will have a maximum coverage level that varies according to the age of people in your party. If all travelers are under the age of 70, the maximum coverage is $1,000,000. If travelers are between 70 and 79, the maximum coverage is $50,000. And for people 80 and over, the limit is $10,000.
Group travel medical insurance plans can be purchased in varying increments as well. For shorter term visits, you can buy a plan for as little as five days. For longer term stays, you can purchase up to 12 months worth of coverage.
You’ll find that for groups of five or more, group medical insurance is the most economical way to provide your party with healthcare coverage while traveling. Not only will you save on the cost of the plan itself, but you’ll avoid those high costs of service that come with being uninsured.
Dan Miller often writes about travel insurance.
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