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 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.
Second, you can save money when you actually use your group travel medical insurance policy. Since the insurance policy you currently have probably doesn’t cover overseas activity, you’d face very high medical costs when traveling as an uninsured person.
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.
If you are in a missionary group with at least five people, travel insurance for groups is a great option for you. From your typical medical expenses to unusual events like terrorist attacks and natural disasters, you can rest assured of your coverage.
Wondering how the coverage level of your international group travel insurance is determined? Age is a significant factor, with coverage levels decreasing for groups that include members between the ages of 70-75 and then decreasing again for members over 80.
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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