More and more people are booking their international travel in larger groups now, so as to offset the rising cost of plane tickets and hotel accommodations. For travelers looking for other ways to save money, the group travel insurance plan provides not one but two ways to save money.
First off, you can save wit group medical insurance by splitting the overall cost of medical insurance amongst the members of your party. It can be expensive for every person in the party to buy their own insurance policy. But with a group plan, everyone can get a discounted unit price by purchasing one single policy that covers everyone you are traveling with.
You can also save money when you actually use your group trip insurance policy. Since the insurance policy you currently posses probably doesn’t cover international 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.
Age plays an important role in determining your coverage level. Groups where all travelers are below the age of 70 will have a maximum of $1,000,000 in coverage, whereas groups with members between 70 and 75 will have a maximum of $50,000. Groups with members 80 and over will be limited to $10,000.
The length of your international travel group insurance plan can be adjusted as well. If you’re planning a shorter stay, plans are available for as few as five days. Plans of up to 12 months are available for those staying longer.
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.