Buying International Travel medical insurance policy

Today international travel for business or pleasure keeps growing at a fast pace and is unlikely to change in the near future. The most serious problem any international traveler faces when on the move is the possibility of having a medical problem in a foreign country. International travel medical insurance goes a long way in taking care of surprise medical problems. It offers temporary medical or health insurance for US citizens and foreign nationals when traveling anywhere outside of their home country.

Some domestic health insurance plans will cover you for some procedures and expenses away from home but many don't, especially for major medical expenses. There are many types of international travel medical insurance on the market today including student travel medical insurance, travel accident insurance and even backpackers travel insurance.

It's important to know that evaluating someone who has met with an accident or become ill in an isolated place can be terribly expensive. Many international insurance companies have a bi-lingual or multi-lingual staff and on-site medical staff available 24 hours a day, seven days a week for their policyholders for consultation and medical emergencies.

One way to lower your insurance costs is to agree to pay a small upfront medical cost for any future treatment needed and make a claim from the insurance company only when the amount exceeds that amount. For example, you could agree to pay the first $200 of any medical expenses and make a claim only when the cost of the treatment goes above it.

If you find a quality insurance company, it'll take the financial worry of terrific medical expenses out of your travel experience. You can exclude a medical condition that is pre-existing which can lower your insurance costs, but you must be sure that the condition will not worsen on your trip and it could cost you a lot more. Any international traveler, expatriate or business traveler needs to be careful about the medical costs they could incur while traveling out of their home country.

Whatever compromise you choose to make in your plan between risks and costs, shop around not only for cheap international travel medical insurance plans, but also for the insurance company that gives you complete information, has open not hidden view functioning and doesn't evade any of your questions.

The time frame on your insurance policy needs to be restricted to the actual time you're out of the country; the shorter the duration will obviously reduce the cost. Some travel insurance plans don't accept hazardous vocations such as mountain climbing. After you get your insurance, in case any minor emergency medical treatment is needed, have all the expenses listed in itemized bills to make a claim when you get back home.

Getting low cost or cheap international travel medical insurance quotes online from several insurance companies is easy enough to do. The watchword in your travel insurance should be attention to the smallest of details.

Some of the insurance policies don't cover any pre-existing illnesses, and will ask for a history of any medical problems. All around the world medical costs are skyrocketing, due mostly to the advances in specialized equipment and the cost of advanced medicines and training specialists in a number of medical fields.

Finally international travel medical insurance is a must for all travelers going out of their home country. You want to make sure that evacuation coverage is included in your plan, because that can be a major expense; getting you out of a isolated or difficult location such as a cruise ship, mountain top or safari can be very costly.

Getting low cost or cheap health insurance is certainly a good possibility without giving up any quality care you might need away from home. International travel medical insurance policy quotes are easy to get online and an important travel necessity for individuals and families when they live or travel outside their home country. Just make sure you know exactly what is covered in your travel insurance policy.

Source: http://ezinearticles.com/?Buying-International-Travel-Medical-Insurance---What-You-Need-To-Know&id=810215

Buying International Travel Medical Insurance - What You Need To Know

Today international travel for business or pleasure keeps growing at a fast pace and is unlikely to change in the near future. The most serious problem any international traveler faces when on the move is the possibility of having a medical problem in a foreign country. International travel medical insurance goes a long way in taking care of surprise medical problems. It offers temporary medical or health insurance for US citizens and foreign nationals when traveling anywhere outside of their home country.

Some domestic health insurance plans will cover you for some procedures and expenses away from home but many don't, especially for major medical expenses. There are many types of international travel medical insurance on the market today including student travel medical insurance, travel accident insurance and even backpackers travel insurance.

It's important to know that evaluating someone who has met with an accident or become ill in an isolated place can be terribly expensive. Many international insurance companies have a bi-lingual or multi-lingual staff and on-site medical staff available 24 hours a day, seven days a week for their policyholders for consultation and medical emergencies.

One way to lower your insurance costs is to agree to pay a small upfront medical cost for any future treatment needed and make a claim from the insurance company only when the amount exceeds that amount. For example, you could agree to pay the first $200 of any medical expenses and make a claim only when the cost of the treatment goes above it.

If you find a quality insurance company, it'll take the financial worry of terrific medical expenses out of your travel experience. You can exclude a medical condition that is pre-existing which can lower your insurance costs, but you must be sure that the condition will not worsen on your trip and it could cost you a lot more. Any international traveler, expatriate or business traveler needs to be careful about the medical costs they could incur while traveling out of their home country.

Whatever compromise you choose to make in your plan between risks and costs, shop around not only for cheap international travel medical insurance plans, but also for the insurance company that gives you complete information, has open not hidden view functioning and doesn't evade any of your questions.

The time frame on your insurance policy needs to be restricted to the actual time you're out of the country; the shorter the duration will obviously reduce the cost. Some travel insurance plans don't accept hazardous vocations such as mountain climbing. After you get your insurance, in case any minor emergency medical treatment is needed, have all the expenses listed in itemized bills to make a claim when you get back home.

Getting low cost or cheap international travel medical insurance quotes online from several insurance companies is easy enough to do. The watchword in your travel insurance should be attention to the smallest of details.

Some of the insurance policies don't cover any pre-existing illnesses, and will ask for a history of any medical problems. All around the world medical costs are skyrocketing, due mostly to the advances in specialized equipment and the cost of advanced medicines and training specialists in a number of medical fields.

Finally international travel medical insurance is a must for all travelers going out of their home country. You want to make sure that evacuation coverage is included in your plan, because that can be a major expense; getting you out of a isolated or difficult location such as a cruise ship, mountain top or safari can be very costly.

Getting low cost or cheap health insurance is certainly a good possibility without giving up any quality care you might need away from home. International travel medical insurance quotes are easy to get online and an important travel necessity for individuals and families when they live or travel outside their home country. Just make sure you know exactly what is covered in your travel insurance policy.

Source: http://ezinearticles.com/?Buying-International-Travel-Medical-Insurance---What-You-Need-To-Know&id=810215

6 important changes brought about by new medical insurance plans

Regulations play an important role in defining the growth and future of any industry. Recently, the Insurance Regulatory and Development Authority of India (IRDAI) introduced (Health Insurance) Regulations, 2016, replacing the rules set in 2013.

The six important changes brought about by the regulations are:

* Combi plans can be a mix of any life (earlier only term plan) and medical insurance plans

* Cumulative bonus in benefit plans allowed

* Wellness benefits

* Insurers have been asked to launch pilot products

* Standard declarations format can be flexible and insurers may design them independently

* Life insurers will not be allowed to offer indemnity-based products

Let's take a look at the implications of each of them:

Combi plans can be a mix of any life (earlier only term plan) and health plan

In December 2009, IRDAI had come out with the guidelines for combi plans that would allow a life and a non-life (or a standalone health) insurer to enter into an agreement to offer such plans. Recently, India First Life Insurance announced collaboration with Star Medical insurance plansto introduce Star First Combi Plans - a combination of health and life insurance plans. It was a mix of a pure term  ..

Cumulative bonus in benefit plans allowed

Currently, cumulative bonus is not a feature in defined benefit policies such as critical illness plans. Going forward, it will be offered and explicitly stated in the prospectus and policy document. The addition of cumulative bonus increases the sum insured over a period of time and helps in meeting a higher treatment expense in future. But, will there be a corresponding increase in the premium of critical illness plans?

Wellness benefits

Medical insurance plans premium is largely a function of age and sum insured, followed by health maintenance and healthy habits. The guidelines to reward policyholders with an early entry and continued renewals were already present in the IRDAI guidelines of 2013. To incentivize healthy lives, the recent guidelines stress on rewarding policyholders on the basis of preventive and wellness habits by disclosing upfront such mechanism or incentives in the prospectus and the policy document. "This type of benefit might help customers in monitoring and improving their health. On the other hand, the insurer recognizes the same and offers discount on the renewal premium," says Mehrotra.

No discount, however, will be provided on any third-party service or merchandise. For instance, insurers can't offer discounts on a health club's membership just because they have a tie-up with the club. Instead, discounts in premium or on diagnostic or pharmaceuticals or consultation services of providers in the network will still be allowed.

Insurers have been asked to launch pilot products

This new initiative may usher in a new wave in the insurance industry. IRDAI has allowed insurers to test the water by launching 'pilot products'. Close-ended with a one-year policy term, the products will be offered only by general or health insurers for just five years initially. The product can be withdrawn or rolled over into a regular one. The idea is to cover risks which have not been covered by insurers till now. Such experiments, however, should not be detrimental to the interests of policyholders. Mehrotra says, "While the insurers have the flexibility to withdraw or continue the product after 5 years, the regulator has protected the interest of the customers by putting an obligation on the insurance companies to port the customers of pilot policies to an existing product of a health insurer. This will provide customers continuity benefit and at the same time encourage insurers to innovate more and test new products."

Proposal form can be flexible and insurers may design them independently

All insurance companies, including life, general and health, can now have their own proposal form with separate set of standard declarations as part of it. The regulations, however, strictly prohibit any explicit or implicit consent of prospective buyers to part information with third-parties.

Life insurers are not allowed to offer indemnity-based products

From now on, life insurers will not be allowed to offer indemnity products. For existing policyholders, however, the policy shall continue until the expiry of the respective policy term. But won't their claim experience be hit if new policies can't be sold? "Actuarial assumptions take into account several factors, including continuity of a product and the volume of business. As a prudent insurance company.

Indemnity plans are medical insurance plans policies such as medi claim which reimburse the actual hospital expense incurred, i.e., indemnify the policyholder. Few years back, life insurers had started offering such plans, but now IRDAI has put brakes to it. Non-life and standalone health insurers will, however, continue to offer them. Importantly, life insurers may still offer defined-benefit health plans such as critical illness plans in which a lump sum amount, irrespective of the actual hospital expect ..

Conclusion

One should ideally have adequate medical insurance plans cover for not just oneself, but the entire family as well. Young families may opt for family floater health covers where children up to the age of 25 are covered. At around age 40, one may consider buying a critical illness cover. Keep reviewing the amount of coverage every 3-5 years and, more importantly, maintain a healthy lifestyle.

Source: [http://economictimes.indiatimes.com/wealth/insure/6-important-changes-brought-about-by-new-health-insurance-rules/articleshow/53735274.cms]

How To Choose A Health Insurance Policies

These days, landing in the hospital for even a few days can decimate your savings account. That's why it's extremely important to consider the cost, the benefits, and the extent to which your family's health needs are met when choosing insurance. Research the various plans that are available, and determine how specifically tailored they are to your family's health needs and financial abilities, to decide on a plan that is best suited to your lifestyle.

Sign on with the health insurance provided by your employer: It is likely to be the cheapest option you can find. Your employer's carrier may have more than one option for you to choose from (HMO, preferred). If you're self-employed or if your company doesn't offer insurance, you'll have to search for your own insurance.

Assess your needs, taking into account your current use of health care and your medical expenses for the near future, and decide what services are most important to you and your family. Ask about dependents' coverage. Factor in how much you can afford to spend on monthly premiums and co-payments. If you're single and healthy, your Health insurance policies needs will be very different from those of a family with three young children.

Compare benefits and coverage of key items like monthly premiums, deductibles, co-payments, co-insurance rates, and costs for seeing out-of-network providers, preventive care, physical exams, immunizations and the like. Other services that are of interest to your family could include fertility services, mental health coverage, nursing care and long-term care.

Ask lots of questions: Are your current providers part of this plan? Do you need referrals for specialist visits? How easy is it to change doctors? What hospitals and facilities can you use as part of the plan? What are the procedures for having emergency room treatment approved?

Find out if benefits are limited for preexisting conditions, or if you have to wait for a period of time before you're fully covered. Some plans may completely exclude coverage of preexisting conditions.

Research whether there is a fair appeals process available if the company denies treatment, and if these appeals are reviewed by an external, independent agency. Is there a high turnover rate among doctors in the plan? Check if the National Committee for Quality Assurance (NCQA.org) accredits the plan; the Pacific Business Group on Health (HealthScope.org) also offers information on Health insurance.

Pick a plan that best matches your needs and priorities based on thorough research. Read all materials and call the Health insurance policies representative or conduct Internet research to get any information you are missing. Discuss pre-existing conditions and flex spending plans before making a decision.

Source: http://www.ehow.com/how_138961_choose-health-insurance.html

Top 9 Individual Medical Insurance Policy Tips

Having an individual medical insurance policy is really important today because it gives an individual the peace of mind that he has financial security when he needs expensive medical treatments. There are many reasons why people consider purchasing medical insurance policies. In this article, I will talk about the top 9 individual medical insurance policy tips which will help you choose the policy that is most suitable for you.

1. It is never too early to take out a health insurance policy - a person should not take his health for granted and today we even have incidences where young people develop relatively severe illnesses or get involved in horrific road crashes. A person should never take his health for granted because no matter in which condition you are today, it is not likely you will remain the same forever. Another good thing about taking out a medical insurance policy early is that your monthly premiums will be low. Moreover, it is less likely that you would have a preexisting condition which in most cases is excluded from health insurance policies.

2. Get the necessary insurance - if you do not have enough cover, medical treatment and other medical procedures can get very costly if you are not covered for them. For this reason, it is important that you do enough research and ensure that you have the necessary coverage.

3. Choice - with most policies, you have the option to choose when, where and by which health care provider you want to receive treatment from.

4. Check your records - always makes sure that the records at your doctor's office is up to date. If it isn't, you may have to pay higher premiums or you may not be able to get coverage for certain conditions.

5. Your excess options - with some policies, you are required to pay higher excess fee. This means that your monthly premiums will be low.

6. Shop Around - before you choose any individual medical insurance policy, make sure that you have done enough research. Do not accept the very first quote that is offered to you. Before making the final decisions, make sure that you have checked out at least three different plans thoroughly.

7. Understand the plan - it is very important to understand the plan before you buy it. In most cases, people expect the plan to cover certain things like dental care, accidents, prescriptions drugs, but get surprised when they find out that their plan does not cover such things. For this reason, it is important to go through the plan thoroughly and understand it before making the final decision.

8. don't forget the small print - if you need any clarification or if anything is unclear, make sure you ask your insurance provide and clarify your doubts. This will help you choose the policy that is right for you.

9. Don't be hasty - take your time to look through the medical insurance and plans. Do not rush with your decision as it may lead to paying for something that is not necessary or eliminating coverage for necessary things.

Source: http://ezinearticles.com/?Top-9-Individual-Medical-Insurance-Policy-Tips&id=6171847