Most travelers have questions when it comes to selecting an overseas travel medical insurance policy. With a myriad of options and information available online, here is a simple five-step process to help guide you in your decision-making.
1 - Choose Your Insurer
The first step you'll want to take is to select an overseas insurance company. Many overseas insurance companies offer a wide array of products, but not all insurers are created equal. In the overseas insurance market, you can choose to buy direct from a specific company (Mnui.com, Imglobal.com, SevenCorners.com) or compare similar policies from multiple companies (GoMissiontrip.com).
2 - Let Trip Length be Your Guide
In general, overseas policies are designed for specific trip lengths and styles. Short-term policies generally focus on travel shorter than 6 months, while long-term policies can be annually renewable for folks relocating overseas. Special policies also exist for travelers taking multiple trips overseas in a given year, or groups traveling together for short-term trips.
3 - Select a Deductible and Plan Maximum Wisely
The key premium factors for overseas insurance policies include age, time overseas, plan maximum, and deductible. Of these four elements, the plan maximum and policy deductible are the easiest to change. The deductible is simply a matter of personal risk tolerance, and most overseas deductibles range from $0 to $2,500 per person.
The average emergency evacuation costs $25,000, and as a result of this, you'll most likely want a policy maximum of at least $50,000 for your policy. To be safe, it's best to opt for coverage of $100,000 or above.
4 - Any Special Circumstances?
Traveling inside the US? Looking for additional insurance when you return to the US after your trip? Need extreme sports coverage? Make sure that you take into account any "special" circumstances that may affect you when choosing a policy. Many additional riders and options are available - be sure to select the options according to your needs.
5 - Online or Mail Fulfillment
The final step in selecting your policy is a choice between online or direct mail fulfillment. Essentially, where do you want your policy documents sent? If your trip is approaching in the next week, you may want to opt for online fulfillment. If you like the security of having an official insurance card on your trip, select direct mail, and your policy documents will be sent to you via direct mail.
Matt Girden is the operations director of GoMissionTrip.com, a company dedicated to providing overseas medical insurance coverage to missionaries and worldwide travelers. The information listed above is generalized, and does not represent a specific endorsement of any insurance company or policy. See brochures of specific insurance policies for details, and be sure to speak with your insurance broker before making any decisions
Article Source: http://EzineArticles.com/?expert=Matt_Girden
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