Travel Health Insurance: Do I Need It?

When planning any kind of trip whether it is domestic or abroad, it is important to have travel health insurance. This kind of insurance not only insures one’s health and safety but also prevents financial losses that could occur due to medical emergencies that are not insured. Typically the insurance that one has in one’s home country does not cover medical expenses incurred when traveling outside the home country so that having travel health insurance is important for covering those medical emergencies while on a trip.

Part of planning a trip should include buying travel health insurance. There are various plans depending on the type of traveling that will be done. There is short-term insurance which is available with many options for trips as short as two days to longer trips that can last up to six months, with the ability to renew the plan for up to three years. Some of these plans are geared for people under the ages of 69 or 74 with the more expensive plans available for the more elderly adults. The benefits covered are usually up to $1 million and can also cover preexisting conditions.

Long term travel health insurance provides major medical benefits for those who are living or working abroad and may be issued for 12 months at a time with the ability to renew the insurance after that period on an annual basis. This type of insurance also provides a wide range of standard benefits and may include maternity and dental coverage. These plans are typically offered to those who are younger than 74 and cover $5 million in medical expenses over a life time.

There is also travel health insurance for senior citizens who are over the age of 84 so that the cost of potential medical expenses does not interfere with money reserved for retirement. These plans are more flexible in nature with the maximum benefit determined by age. Major medical benefits are provided with a choice of deductible.

Another travel insurance plan that should be investigates is trip cancellation insurance. This type of insurance covers expenses for an accident, sickness or loss when traveling as well as reimbursement if a trip is cancelled by the travel supplier, weather conditions that make it impossible for the trip to be undertaken or any other type of event that could cause the cancellation of a vacation or business trip. This benefit applies primarily to those trips that have been paid for in advance.

Student health insurance is not a luxury as governments and educational institutions require that students studying abroad have a comprehensive health insurance policy. Often the educational institution in which the student is enrolled will provide a plan but many outside insurance companies can provide plans accepted by the educational institution that are more cost-effective and provide benefits that meet or exceed institution and government requirements.

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