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 travel insurance for groups plan provides not one but two ways to save money.
The first way tour group travel insurance saves you money is by sharing the cost of medical insurance with the other people in your group. Rather than paying full price for several individual insurance policies, you and your fellow travelers can get a discounted price by buying one policy to cover your entire party. Therefore your own personal cost is minimized.
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.
And instead of being stuck with the high fees that come with getting medical coverage while you’re uninsured, you’ll be able to have all services that exceed your deductible covered – just like you regular insurance plan! And you’re in charge of selecting your deductible level. Choose anywhere from $0 to $2,500, but know that a lower deductible will result in higher premiums.
Group travel insurance is ideal for missionary groups of five or more people who may be concerned about the state of countries they are visiting. It covers standard medical expenses as well as extreme circumstances like evacuation expenses, terrorist attacks, and natural disasters.
Wondering how the coverage level of your international group travel insurance is determined? Age is a significant factor, with coverage levels decreasing for groups that include members between the ages of 70-75 and then decreasing again for members over 80.
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.
Group medical insurance is a wise choice for international travelers in parties of five or more. It will help you save on the initial cost of buying travel medical insurance, as well as the long-term cost of getting healthcare service you need while abroad.
Dan Miller often writes about travel insurance.
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