Health Insurance FAQ ?
- Q: Why should I buy Visitor insurance? Do I really need it?
- Q: Is the insurance premium refundable if my parents return home earlier than one year?
- Q: Can I purchase a policy for my family members who are planning to come for a visit?
- Q: What does Overseas Student Health Cover mean?
- Q: Why do I need any insurance?
Medical care in the USA is extremely costly and as a result, traveling abroad without medical insurance could be very expensive should any illnesses, accidents or any other health related problems arise. Purchasing visitors insurance is the best way to protect yourself from financial burden as well as provide you with overall peace of mind throughout your travels.
Many parents will come to visit for less than a year on their first visit, so being able to obtain a refund for the unused portion of their policy is an important consideration. Normally, the lower the deductible the better. However, if the 12 month policy costs $2000, and the visitor returns home after 6 months, then about $1000 will be refunded as long as no claim has been made on the policy. A policy with a $zero deductible (where the insurance immediately pays all eligible expenses), will cost more - but even if a small claim (ie. visit to a medical clinic) could be filed in the first six months, you may not want to file because the $1000 refund would be lost. So, it may be better to use a higher deductible to lower policy cost (by 20% or more) and pay any small expenses to keep the expected refund valid.
Almost all the policies offered here at BestQuote are partially refundable. The exception is the 'Annual Visitors to Canada' plan offered by GMS Insurnace which allows policy holders to return to their home country for a quick 'trip break' without the policy ending. So after 7 months if the parent returns home for two weeks, they can come back to Canada on the same policy, which would have 4 1/2 months remaining. GMS also offers their other visitors to Canada plan that is partially refundable, but no trip break is permitted. If a parent returns home on that plan, the policy will end, and they would need to buy another 365 day policy before returning to Canada.