Schengen visa insurance plans for seniors, Travel insurance for European travel for seniors

Factors determining the cost of travel health insurance for Schengen visa for senior citizens

The cost of cheap travel insurance for Schengen visa for senior citizens plan depends on the following:

1. The age of the traveler: The older the Schengen visa holder, the more expensive the monthly plan cost.
2. The maximum medical coverage selected: The options range from $50,000, up to $1,000,000, the higher the coverage amount, the higher the premium.
3. The selected deductible: A 'deductible' is the amount of the medical costs the customer pays before the insurance plan provides any coverage. Most plans provide several options ranging form $0 to $2500 (travelers over age 60 years may not have the $0 deductible option). The lower the deductible, the higher the premium.
4. The co-insurance on the plan: 'Co-insurance' is the percentage on medical expenses borne by the customer AFTER the deductible is paid. The cheapest travel health insurance for schengen visa will have the highest co-insurance.
5. The insurance underwriter: There are different underwriters such as AIG, Lloyds, Nationwide, etc. Premium will vary for different underwriter.