International travel is expensive, so any chance to save money is always welcome. If you’re traveling in a group, you may want to consider group trip insurance. It offers you two great ways to save money during your travels.
Travelers will save on the cost of insurance itself. By splitting the expense of group medical insurance across each person in your traveling group, you’ll find the individual cost to be lower than buying your own plan of comparable coverage.
Second, you can save money when you actually use your tour group travel insurance policy. Since the insurance policy you currently have probably doesn’t cover overseas activity, you’d face very high medical costs when traveling as an uninsured person.
But group travel medical insurance saves you from paying those high costs. It works just like your typical insurance policy, paying 100% of your coverage after the deductible has been met. And you can set your own deductible ranging from $0 up to $2,500, depending on what you’re comfortable with.
Group travel insurance is ideal for missionary groups of five or more people who may be concerned about the state of countries they are visiting. It covers standard medical expenses as well as extreme circumstances like evacuation expenses, terrorist attacks, and natural disasters.
Your travel insurance for groups policy will have a maximum coverage level that varies according to the age of people in your party. If all travelers are under the age of 70, the maximum coverage is $1,000,000. If travelers are between 70 and 79, the maximum coverage is $50,000. And for people 80 and over, the limit is $10,000.
Group travel medical insurance plans can be purchased in varying increments as well. For shorter term visits, you can buy a plan for as little as five days. For longer term stays, you can purchase up to 12 months worth of coverage.
You’ll find that for groups of five or more, group medical insurance is the most economical way to provide your party with healthcare coverage while traveling. Not only will you save on the cost of the plan itself, but you’ll avoid those high costs of service that come with being uninsured.
