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 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 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.
In addition to the great savings, another benefit for your group is the range of services that are covered. Not only will you be able to get coverage for standard doctor’s visits and medical needs, but rare occasions like terrorist attacks and natural disasters are covered in your international travel group insurance policy.
Your group trip 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.
If you’re traveling in a group and want to save money on your overall costs (and who doesn’t?), group medical insurance offers a unique opportunity to save in multiple ways: both at the time of purchase, and then after using it. Protect your group’s health and your own financial interests by signing up for a group travel insurance policy.
Dan Miller often writes about travel insurance.
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