Visitor medical insurance clarifications
Here are some commmon questions that travelers who are purchasing visitor medical insurance have.
(a) What is the deductible?
The insurance deductible is the amount that the traveler or the insured has to pay before the insurance company pays anything towards the medical treatment. Travelers have the choice of purchasing insurance with varying deductibles ranging from zero deductible to as high as $2500/-. The lower the deductible, the higher will be the premium or the cost of the insurance plan.
(b) What is co-insurance?
The co-insurance is a percentage of the covered medical expenses that you, the insured person, must pay. This comes into effect after the deductible amount has been paid. Typical co-insurance are 80/20 or 90/10. For example, if your health plan has an 80/20 co-insurance rate, your insurance plan pays for 80% of your eligible medical expenses and you are responsible for the remaining 20%. Usually the co-insurance is paid only up to certain medical expense, usually $5000/-. The insurance plan will cover 100% of the expense after $5000/- .
(c) Who or What is the AD&D Beneficiary ?
AD&D stands for Accidental death and dismemberment. The AD&D beneficiary is the Beneficiary who receives the Accidental Death or dismemberment benefit if the insured dies or has a limb severed in an accident while insured under the policy. Typical examples of AD&D beneficiaries are your spouse, your children or your parents.
(d) Are there any medical tests required before purchasing the insurance?
No, there is no medical test required for purchasing any of these policies. You can buy the policies online any time and get coverage from the following day.
(e) What is the Policy Period?
A policy period represents the amount of time you have purchased insurance. In visitor medical insurance, policy periods can be as short as 5 days and as long as 36 months. For example, if you complete an application and pay for 6 months of insurance, the policy period for that program will be 6 months.