Benefits of Buying Visitor's Insurance For US travel.
So you are wondering if it is worth buying visitors insurance?
I have been wondering whether I should write this experience or not, however my wife inspired me to write it out to help everyone who is throwing money on visitor’s insurance.
The story is very simple,
My parents visited U.S. in 2009. I spent $1000 to buy best of the best medical insurance coverage for them so that pre-existing and everything is covered. The insurance was for only two months. The eight weeks passed by and I did not use even a single dollar of the coverage. In fact my father did feel one day a pain in his lower stomach, however he was not ready to goto doctor. In fact he had brought all his medicine; he took the prescribed medication and got settled by next day. So my $1000 did not come to use at all. After that my parents have visited two times and no problem at all.
How can I make a decision to buy or not to buy?
The decision making is simple 3 step:
1. Are your visitors healthy to an extent that they would not incur any medical condition other than regular fever, nausea etc.?
2. Are you ready to risk your money in a catastrophic medical condition of your visitor?
3. Are your visitors medication-aware?
If you answered “Yes” to all above three questions, then do not spend money. In any other situation, do buy basic or premium insurance depending upon preference if you would like to buy pre-existing condition or not
So why should I buy?
The standard visitor Insurance is great if your visitor guest gets sick to an extent of hospitalization for medical condition that is not pre-existing. At that point basic visitor coverage would cover up to $50,000.
In 99.9% cases , the condition is going to be minor and medical expense is going to be yours to pay. The insurance would not make a big difference.
However if you are unfortunate and a visitor does get sick, the chance is that you would repent not buying insurance.
Still visitor insurance does not cover:
1. Every visitor insurance contract clearly lays out exclusions. Even the premium plans exclude some specific medical conditions. Do read the fine print
2. The basic liability in all visitor insurance contracts is at least $50 in situations.
Is there an alternative?
Well consider personal umbrella policy and see if your guests are covered for medical condition in PUP. I know I am looking at one where I do not need to spend expensive on medical insurance for visitors.
Disclaimer: The article is purely intended to share information based on experience, Any decision taken based on this article is solely for the reader and does not constitute any legal opinion and hence obligation towards the Author.
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