Key Terms and Definitions

In order to help you more accurately understand your international medical insurance policy we have provided a list of the more common terms and phrases along with their definitions.

Acute Condition: An acute condition is characterized by a rapid onset or display of symptoms and a short term course of infection or impact. Acute conditions have the potential to be severe; however, this does not mean that all acute conditions are life threatening.

Anniversary Date: This is the date that the international medical insurance plan is due for renewal. The anniversary date will usually occur every 12 months.

Applicant: An individual who is named in the application documents as applying for insurance.

Application: The completed forms and documents that are sent to an insurance company in an attempt to obtain insurance.

Claim : When a policyholder makes a request to be reimbursed for treatment this is known as a claim.

Commencement date: This is the date that the policy will officially begin to provide cover. The commencement date will be stated in the policy schedule.

Deductible: This is the total amount of money that a policyholder will pay towards the cost of any claim. The policyholder must have reached the deductible limit before any monetary reimbursement is made by the insurance company.

Documents: Any and all written information from the insurance company pertaining to an active policy. This information may include, but is not limited to, bills, brochures, and policy schedules.

Due date: The date that payment for the policy should be made.

Hospitalization: Any surgery or treatment that requires an overnight stay in a medical facility or hospital is referred to as hospitalization, see also in-patient treatment.

In-patient treatment: In-patient treatment is defined as treatment where it is medically necessary to be hospitalized overnight.

Insurance: The transfer of risk from one entity or individual to another for a fee. The insurance company will protect the policyholder from financial loss for an agreed premium.

Insured: The named policyholder and/or any other individuals that may be named in the policy documents.

Outpatient: Any treatment or surgery where it is not necessary for overnight hospitalization.

Policy conditions: The terms and conditions of all aspects of the policy. The policy conditions will usually be located in the policy schedule.

Policyholder: The person named as owning the plan in the policy schedule.

Policy schedule: The policy schedule contains all the policy information, including the benefits, waiting periods, anniversary date, the policyholder, the premium, and any special terms that the policy may have.

Pre-existing conditions: Any illness or injury that has manifested symptoms or is known to an individual prior to the start of a policy is deemed to be pre-existing.

Reimbursement rates: The total amount of money that will be reimbursed to a policyholder in one policy year as stipulated in the policy conditions.

Region: The geographical area of coverage as stated in the policy schedule.

Renewal: The process of applying for continued cover of an international medical insurance policy. Renewals will normally happen on the anniversary date.

Serious injury: A serious injury is an injury that may require months of rehabilitation or have the ability to incapacitate the policyholder. Only after the attending physician and the insurer's medical consultant have come to a consensus shall a serious injury be said to exist.

Special Terms: Any restrictions or unusual additions to a policy. If a policy has any special terms they will be located in the policy schedule.

Standard Terms: The normal restrictions, limitations or conditions of an international medical insurance policy.

Subrogation: Subrogation is where the rights of claim against a third party are transferred from the policyholder to the insurer in the form of a monetary reimbursement.

Surgery: Any invasive procedure to correct a medical condition. Surgeries do not include endoscopies or scans although these procedures may require anesthetics.

Terminal phase: When it appears that death is imminent and active treatment of the condition is rejected in favor symptom relief and therapy, the patient is in the 'terminal phase'.

Waiting period: The period of time from the start of a plan where the policy holder is not entitled to make any claims for a particular benefit.