How Can I Keep my Visitors Insurance Cost Low?
Several factors influence the price you pay for visitors insurance. Most visitors insurance program do not require any prior medical reports before purchasing (in fact some cover all pre-existing conditions, see INF Premier & INF Elite Network), and current health condition does not influence the price of premium paid. Rather, age, length of stay, deductible, and policy maximum all influence the price you pay for visitor insurance. When selecting the right plan for your family, be mindful of certain coverages and exclusions plans may include. Below find suggestions on how to select the most optimal plan for you or your visitor.
Choosing a High or Low Deductible
High Deductible PlansHigh Deductible Plans tend to be cheaper due to a higher initial out-of-pocket expense. Nevertheless, high deductible plans also come with high coverage maximums. We like to recommend these plans for individuals looking to transfer the risk of a major medical event (such as a heart attack or leg-fracture) away from their family. High-deductible plans allow you to efficiently shift the risk of paying a major medical bill from your pocket to the insurance company's. High deductible plans also cover more due to their high coverage maximums, providing additional monetary benefits for you & your visitor.
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Low Deductible PlansLow Deductible Plans tend to be more expensive due to a lower initial out-of-pocket expense. Low deductible plans are better for everyday sickness & illnesses. Low deductibles are best suited if you are seeking coverage for average doctors visits, or urgent care clinics. These plans work best if you are expecting your visitor to go to the doctor at least once or twice for a sickness. We suggest using CVS Minute clinic (which costs between $50-$100 per visit depending on where you live) for minor illnesses, rather than visiting a doctor outright.
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Choosing a Limited or Comprehensive Plan
Limited Benefit PlanLimited Benefit Plans are cheaper, and inexpensive. That being said- these plans provide a limited amount of coverage for medical events. These plans work on a schedule of benefits. This means the plans will pay a fixed (or "capped") amount for different medical services. These plans are best suited for healthier individuals who are only needing insurance for low-probability / high-loss medical events, such as a leg-fracture.
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Comprehensive Plans provide the best coverage for your visitor. Comprehensive plans like the INF Elite Network cover ALL pre-existing conditions for all age groups. Comprehensive plans cover all eligible medical expenses up to the coverage maximum, with no caps or limitations on specific medical procedures. Rather, all eligible medical expenses are covered up to the coverage maximum, allowing you the peace of mind with coverage.
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Other Considerations
Refundable PlansWe suggest you to be aware of cancellation & refund policies for different insurance plans. Some plans allow for pro-rated refund of the premium if the visitor has not filed any claims. Others do not allow for refunds after the effective date of the policy.
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Additional CostsCosts associated with application & filing fees, and processing fees may add up over time if you renew your policy month-to-month. We suggest if your visitor does not have a return ticket to purchase a minimum of 3 months, then extend month-to-month.
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