There are several factors to consider while evaluating visitor insurance providers and plans. Following are few important tips to appraise different visitor travel insurance policies offered by different providers.
Reputation and Reviews
Reputation of an insurance company can be evaluated by looking at the fair service rendered to the customers over a period of time. The reviews by previous customers can be referred before buying the plan. It is better to take in to account the satisfaction of previous customers before deciding.
Co-payment/Coinsurance for the plan
Co-payment or the co-insurance is the amount contributed by the insured after utilizing the maximum benefit by the provider. For instance, the insurance company pays 80% of the total medical expenses and you will be required to pay remaining 20%. It is better to buy the policy with maximum advantage in reducing co-payment.
Benefit period is the period of time the insurance company keeps the insured covered bearing medical expenses. Once the policy expires, the insured remains as the policy holder but can no more enjoy the benefits from the company. It is advisable to buy visitor insurance with long benefit period.
The insurance policies for the visitors exclude certain conditions. While making the claim the insured will be restricted. It is recommended to consider the exclusions in the policy. Go through the exclusions by different insurance policies by different insurance companies. Search well and choose the policy with less exclusion compared to other policies.
Flexibility of Insurance Policies
Some insurance companies provide a lot of flexibility while offering policies for visitors who are travelling to foreign countries. Visitor insurance policies can be distinguished based on the maximum coverage period and deductible offered by the provider you choose. Visitor travel insurance can be either comprehensive or have limited benefits. By contrasting different policies you can choose the best policy according to your requirements.
The insurance company should allow the policy holder to extend the period of coverage while abroad by renewing. If that is not possible then the company should help the insured to buy a new policy.
Policy Refund Benefits
Policy refund benefits can be availed in case the insured wants to cut short his/her travel plans. Also the company should make cancellation of policy whenever the insured pleases. Understand these nuances in the policy before purchasing.