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Visitor Medical Insurance Buyers Dilemma: Which one to buy?
By: Rajeev
Are your shopping around on the Internet for a Visitor Medical insurance for your parents or relatives, who will soon be visiting you in the US? Do you find yourself spending endess hours online learning more about travel insurance but, still ending up confused about purchasing the right one?
The experience is similar to buying a TV in an electronic shop. Hundreds of models with almost similar features make it more confusing and difficult to take the right decision. And you always want to be sure to make the right decision; and why not, after all you are paying for it.
And don't think for once that this dilemma is unusual. Because it is not. Even I had to endure a similar situation while shopping for the medical insurance for my visiting in-laws. I spent ample time only to learn a few basic and important facts. I hope this summary of my experiences and thoughts on this matter would help you save some of your precious time.
Visitors Medical insurance plans do not work like your regular health insurance plans (provided through your employer), where the all you owe is a co- payment ($5 or $10). A visitor medical insurance, however, does not guarantee that you will not be making any payments in the event of an medical emergency.
Nevertheless, these plans are devised to protect you from "major" medical expenses. Consider them similar to your car insurance, where you have deductible and coverage pre-defined.
Now, lets talk about coverage.
Coverage includes numerous factors such as medicines/pharmacy, emergency visits, surgery, radiology etc.
Is there really a plan which can fit your need 100%?
Most likely, the answer would be No!
If you have understood the basic difference between your regular medical insurance and the visitor medical insurance (as explained above) then you already know the answer to this question.
Moreover :
- Since health problems are unpredictable, especially because no one knows what future holds, you can never be 100% sure about the kind of coverage that is perfect for you.
- Each plan has its pros and cons. These plans are designed in a way that they balance out one way or another. For instance, if one plan is cheaper or has a less deductible, then it will have limited coverage. Similarly, if another plan has better coverage, then it will either have a higher deductible or it will be more expensive.
And finally it’s all about choosing the one, which you think may be the least risky. Now, which plan exactly is least risky? This brings us back to the question, which plan is best suited to my needs.But, don't get too confused. The bottom line is that there are basically 2 kinds of plans:
#1.Limited coverage Plan: Less expensive, but has some limitations on coverage.
#2. Comprehensive coverage Plan: A bit expensive but offers better coverage.
Type of Plans
So, once you decide on the type of plan that is best suited to cater to your requirements, you have already won half the battle in terms of decision making. The next set of lingering questions, waiting to be addressed are, which plan should I go in for and which company would offer me the best deal?
Which company is the best for me?
With so many companies to choose from, it is tough to decide, which one is perfect for you.
Very few well-known major US insurance companies (Seven Corners, IMG, Atlas etc.) issue actual insurance policies. Each company has various plans/products designed for a diverse set of consumers..
For example: "Inbound" and "Liaison" are products/plans from Seven Corners (formerly known as SRI).
These major insurance corporations sell these products/plans through agents or online.
Be sure to buy your insurance from a place/agent you can trust, and also ask around among friends about their personal experiences with travel insurance. However, don’t get biased with a particular brand of insurance..
Decisions made under the influence of emotions, while selecting a plan or company, just because the company's name starts with your country's name or has America in it, may not always give you what you are looking for. So, make sure you have thoroughly researched your options before you make your final purchase.
Hope this article helps
VisitorsCoverage users
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OR post your questions to Discussion forum.
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