Schengen visa insurance plans for Seniors

Factors determining the travel health insurance for Schengen visa cost

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.