10 Questions to Ask Before You Buy Travel Insurance
Travel Team | May 2, 2023
Travel insurance is an investment. This investment is in your health and your peace of mind. But of course, it’s a bit of a financial investment as well. Because of all this, it’s important to get the coverage you expect.
To make sure you get the right travel medical insurance coverage, it helps to ask the right questions before you buy anything. You’ll have fewer surprises, and you’ll feel more confident that you’ll be protected if the unexpected happens.
Here are 10 questions worth asking so that you know what you’re investing in.
10 Questions for Understanding Travel Medical Insurance
1. How much does travel medical insurance cost?
We know what you’re thinking. With all this talk of investments, is travel medical insurance affordable? Is it worth the cost? Yes and yes. Here’s how to estimate that cost.
Your travel medical insurance premium (the cost of the plan) is affected by several things, including your medical maximum and deductible. Seven Corners’ plans allow you to choose these amounts.
If you select a higher deductible, your premium will be lower. Similarly, if you choose a lower medical maximum, your premium will also be lower. This is because you are taking on more risk. If you get sick or hurt, a high deductible and low medical maximum means you will pay more out of pocket.
On the other hand, if you choose a lower deductible and a higher medical maximum, more of the risk is assumed by the insurance company. You will pay more for the plan because the insurance is taking on more responsibility. If you get sick or hurt while traveling, your travel insurance will pay for more of your care and you will pay less out of pocket.
The key is to find the balance you’re most comfortable with.
Your age and length of coverage can also impact the cost of travel medical insurance.
2. How are medical benefits paid if I get sick or hurt while traveling?
There are two types of travel medical insurance — scheduled and comprehensive — and the key difference between them is how benefits for medical treatment are paid.
- Scheduled benefits: The plan has a medical limit for how much it will pay for each injury or illness and for each type of medical treatment you receive.
- Comprehensive benefits: The plan has a medical limit for your coverage period rather than for individual treatments.
Both types of plans have medical maximums, but there may be more limits besides that. Make sure you know what the limits and sub-limits are in your plan, so that you know how much to expect to pay out of pocket, if anything, after your insurance makes its payment.
We know this can be confusing, which is why we’ve written another whole article about it. Read more about the key differences between scheduled and comprehensive benefits.
3. Does travel medical insurance cover my pre-existing conditions?
Pre-existing conditions are a big deal if you’re considering short-term coverage. Some plans will cover these conditions, while others won’t. Similarly, some plans only cover emergency acute onset of those illnesses.
If pre-existing conditions is a concern for you, consider these factors before purchasing a travel insurance plan:
- is considered a pre-existing condition? How long you’ve had the condition, when it was diagnosed by a doctor, and any steps you've taken to manage the condition before traveling can all affect coverage of pre-existing conditions, if one is available on the plan.
- Is there an exclusion period, or waiting period? Some plans will only provide coverage for pre-existing conditions if an acute onset of that condition occurs within a certain period after the start of your coverage.
Learn more about how Seven Corners’ plans define a pre-existing condition.
4. Does this plan include pharmacy coverage?
Some plans cover prescriptions completely, while others only have partial coverage. Remember that travel medical plans are designed to cover illnesses and injuries that arise while you are traveling. Typically, medications related to those scenarios will be covered.
If you take a prescription medication regularly, it’s best to make sure you have enough before you leave home.
You’ll also want to know whether your plan requires you to pay out-of-pocket at the pharmacy and file a claim later to be reimbursed, or whether the pharmacy can bill the insurance directly.
5. What is the network?
Some plans have a provider network, or PPO, while others do not. Providers who are “in-network” have a contract with your insurance provider. Because of this, expenses for medical treatment are typically less expensive.
If the plan has a network, ask how large it is. If the network is smaller, or all the doctors are located in major cities but you’re traveling to remote areas like somewhere in west Texas, it will be more difficult to find medical care in the network.
6. What is my coverage out of network?
Some plans have the same coverage whether you choose an in-network provider or not. Other plans, however, will cover less for medical care received from out-of-network providers. This means that you will pay more out of pocket for that treatment.
Again, make sure you understand what your plan’s network is and how your out-of-pocket expenses will be affected if you seek treatment from a provider not in the network.
7. Can I renew this plan and for how long?
Sometimes you’re having such a great time, you decide to extend your trip a few more days. Sometimes you suffer a medical emergency and you’re unable to return home on time based on a doctor’s orders not to fly. In both these examples, you may need to extend your travel insurance coverage.
Often, you can extend your coverage, but before you even leave home in the first place, make note of the steps you must take to do so. Some plans may not let you renew past a certain point, and some may not let you renew unless you do it before it expires.
If you think you may need to extend your plan, contact the travel insurance provider for more details and requirements.
8. What is the claims process?
In all honesty, we hope you never have to use the plan you purchased. But the unexpected can rear its ugly head (or as we like to say, trip happens). That’s when you want to know what to expect when you file a claim.
Look into how to file a claim — it's usually an online process — as well as any deadlines you may have to file and what documentation such as receipts you may need to submit. Gather this information before you travel so that you know what you’ll have to do if filing a claim becomes necessary.
9. What is the appeal process?
If your claim is denied, and you believe that your plan should have covered it, know what to do about it ahead of time.
Start by kindly asking the insurance provider for an explanation of the denial. Travel insurance is complicated, and it doesn’t work like home or car insurance. The provider will be able to explain the reason for the decision. If you would still like the claim re-reviewed, ask for details of the appeal process.
10. Can I cancel my coverage?
For travel medical insurance, you can typically cancel your coverage if you submit a written request for cancellation prior to your effective date.
If it is after your effective date, you can still request a refund for the unused portion of the plan cost. There may also be a cancellation fee.
It’s important to note that if you’ve made a claim, you can no longer cancel your plan. Check with the insurance provider for more details and requirements before purchasing the plan.
How to Buy Travel Insurance
We’ve said it a few times already: travel insurance can be complicated. There are exclusions and deadlines that impact how benefits can be bought and later applied when you travel. That’s why it’s so important to turn to the experts when you have questions.
Seven Corners’ sales team is full of licensed agents who can not only answer your questions, but also recommend the best insurance for your trip. Contact them today or get more details on our website at SevenCorners.com.
Email sales@sevencorners.com
Toll free 1-800-335-0611
Worldwide 317-575-2652
Collect 317-818-2809
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