Understanding What is a Deductible and How Does It Affect Travel Insurance Cost
The video will help you understand the term "Deductible", Why is Deductible so important and how does deductible affect your travel insurance cost or premium? It will also show case how much Deductible should you select while buying a travel medical insurance.
Deductible is the amount of money you are responsible for, before the insurance company starts paying for any covered expenses.
There are two types of deductible
1) Deductible per incident
2) Annual Deductible or Deductible per policy period
It is important to pay attention to what deductible to choose while buying a travel medical insurance as higher the Deductible, lower the insurance cost (Premium) and visa-verse. If you would like to keep your out-of-pocket expenses low, you may want to buy a travel medical insurance policy with low deductible.