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Is Travel Medical Insurance Affordable and Worth the Cost?

Travel Team | Jul 28, 2020


We could make this the shortest post on our website by answering the above questions in one sentence: Yes. Travel medical insurance is affordable and absolutely worth the cost.

For the sake of argument, let's say you don't understand why you should spend the extra money on your trip. If that's you, keep your eyes peeled and allow us to explain the benefits.

Overview: What's typically covered in a travel med policy?

The answer to this will vary from plan to plan depending on the insurance provider, but the basics include:

  • Medical expenses
  • Emergency medical evacuation
  • Pre-existing condition coverage 
  • Terrorism medical expenses
  • Political evacuation

International travel poses more risks as opposed to traveling within the country where you reside. Some of the coverage options listed above might not apply to the type of trip you're taking, which means you may need a different type of coverage. If that is the case, we suggest trip protection insurance. Click for more details!

Does length of coverage increase cost?

Quick answer: Yes. Typically with travel medical insurance policies, the length of coverage will vary between five days up to three years, although you cannot purchase a three-year policy up front. The maximum length of coverage for the original plan is 364 days, and then you can renew it for up to three years.

It's fairly easy to deduce which polices are going to cost the most money. If you require a travel medical policy for up to three years, you're looking at a more expensive plan — and rightfully so!

On the flip side, if you only need medical coverage for five days, the cost will be significantly less. Of course there are other factors that determine cost. For instance, if you plan on participating in any hazardous activities during your trip, you can buy this optional protection to cover specific activities. 

Traveler's guide to trip insurance.

What's the difference between travel medical and trip protection insurance?

This is a very common question. Generally, you would buy a trip protection plan if you are interested in protecting the amount of money you paid for your trip in case you need to cancel or interrupt your trip. And you would buy a travel medical insurance plan if you are interested in high amounts of medical coverage for travel outside the country where you live.

Here are a few examples explaining why you would purchase each type of plan. 

When would you purchase a trip protection insurance plan?

  • When you and your family vacation somewhere within your country of residence or abroad. 
  • When your vacation has a high risk of being canceled or interrupted. 
  • If you spent a lot of money for your trip.
  • When your trip has a flight schedule with multiple layovers.

When would you purchase a travel medical insurance plan?

  • When you travel to a foreign country that may not have appropriate medical care. 
  • When you travel internationally to a country known for severe illnesses.
  • When you only need medical coverage while traveling overseas.

Generally, trip protection insurance encompasses a greater variety of benefits and is usually more expensive compared to a travel medical plan. Some would argue that trip insurance is a "better" policy but, as stated above, it all depends on your traveling needs. These aren't one-size-fits-all plans!  

The 'what if' scenarios must be considered when planning trips.

Are travel med plans affordable?

The cost of your travel medical plan varies with your age, the length of your trip, and the medical maximum and deductible you select. The cost also varies depending on whether your trip includes time in the United States. Because the cost of medical care is expensive in the United States, you will usually pay more for a plan to cover you there.

Rates are less than a dollar a day for a plan with a $50,000 or $100,000 medical maximum for a $250 deductible, younger age ranges, and travel outside the United States.

For travel inside the United States, pricing generally starts around $2 per day for lower medical maximums and a $250 deductible and increases from there.

Remember:  The higher your deductible, the lower your plan cost will be.

Is it worth it to buy travel medical insurance?

We think of our travel med plans as low in cost, high in value. The value of a quality travel medical insurance plan can be measured by one thing: Peace of mind. We help people every day who have medical emergencies while traveling. If you have coverage, you can rest assured that if you become sick or hurt on your trip, you're covered. So really, it's up to you to determine whether or not it's worth it. How much would you spend for peace of mind? Fortunately, it's not that much.

Learn more and get a quote

Regardless of the type of trip you're taking, it's always a wise decision to take Seven Corners with you during your travels. To learn more about the comprehensive benefits offered by Seven Corners' Liaison (Travel Medical Insurance) Products, simply click below. Once you find the plan that works best for you, click Get A Quote and customize your plan even further!

Travel medical insurance for peace of mind.

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