International Medical Insurance vs. Travel Medical Insurance ... Which Plan Would You Recommend?

  • Originally published November 15, 2011 , last updated December 30, 2015
International Medical Insurance vs. Travel Medical Insurance ... Which Plan Would You Recommend?

This is a question we get quite often in our call center. The answer depends on a few factors, such as the client’s age, length of the trip, and benefit level desired.

International Medical Insurance is a great product. Medical benefits offered begin at $50,000 and go up to $2 million. You have a choice of six deductible levels, $0 to $2,500, and it has very competitive daily rates. These plans work well for clients traveling for longer periods of time. For a client who plans to live or travel overseas for a few months, up to a couple of years, and wants a product with a higher medical/evacuation benefit ($500K, $1M, or $2M) this coverage is ideal. Remember, International Medical Insurance is pretty much just that. It covers medical expenses and emergency medical evacuation for a person traveling outside of their citizenship country.

International Medical Insurance Sample Case

U.S. citizen — Traveling outside the U.S. — $2M medical/evacuation coverage — No deductible

Traveler Age Trip Length
3 Months 30 Days
Age 0 – 17 $176.25 $58.75
Age 18 – 29 $183.75 $61.25
Age 30 – 39 $243.75 $81.25
Age 40 – 49 $333.75 $111.25
Age 50 – 59 $517.50 $172.50
Age 60 – 64 $678.75 $226.25
Age 65 – 69 $821.25 $273.75
Age 70 – 79 (maximum benefit $50,000) $637.50 $212.50
Age 80+ (maximum benefit $10,000) $1,275.00 $425,00

You do have the ability to select deductible levels up to $2,500 and reduce the premiums up to 40%. Many Travel Protection Packaged plans that include the travel medical benefits have a $0.00 deductible. There aren’t a lot of other bells and whistles with International Medical Insurance plans. You won’t find travel benefits such as trip interruption, travel delay, baggage delay, ect. in the International Medical Insurance plan.

Now let’s compare the International Medical Insurance premiums with a Travel Protection Package plan. Travelex Insurance Services Travel Max plan offers $100,000 of primary medical coverage, $1 million emergency medical evacuation, and has no deductible. When calculating a Travel Protection plan quote you will be asked to enter a trip cost. If your goal is to purchase a plan primarily for the travel medical benefits, then enter a $0 into the trip cost calculator. This strategy eliminates the trip cancellation/interruption benefit but all other policy benefits remain and begin the day of departure.

The premium for the Travel Max plan does get expensive if you are traveling for a longer period of time such as three months. But if a trip is for 30 days or less, these premiums look pretty good and there are no reduction of benefits for older travelers. The medical coverage is primary ($100,000), includes emergency medical evacuation($1M), and coverage is available for both domestic or international trips.

Travel Medical Insurance Sample Case

Three months of coverage and 30 days of coverage with the Travel Max plan

Traveler Age Trip Length
3 months 30 Days or less
Age 0 – 34 $540 $44
Age 35 – 59 $549 $53
Age 60 – 69 $567 $71
Age 70 – 79 $587 $91
Age 80+ $719 $223

Just food for thought for the next time your customers ask for International Medical Insurance, Travel Medical Insurance, or Emergency Medical Evacuation coverage.