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Overall Maximum Benefit
All international medical insurance plans have a maximum financial limit that cannot be exceeded. This amount varies based on the insurance company and the insurance plan.
It is important to note that this annual limit is typically very high (above USD1m) and, as such, is unlikely to be a limiting factor as to why treatment is not covered. Notwithstanding, it is important to understand your medical plan
Generally there are two types of annual maximum benefits:
- Annual maximum benefit: is the maximum amount per person per policy year. Annual benefit amount is renewed at the same time as the policy, so claims incurred in one policy year do not impact the following policy year.
- Lifetime maximum benefit: is the maximum amount an insurance company will pay per insured person during the lifetime of the policy.
In additional to an annual maximum limit, insurers sometimes place ‘sub-limits' for individual types of treatments such as organ transplants, maternity, chronic conditions etc. These sub limits are normally set to appropriate and reasonable levels to cover treatment but they prevent abuse of the policy and therefore escalation of insurance premiums. It is advisable that expats check the specific details of any policy before they decide to take out coverage.
If you would like to know more about overall maximum benefits, or would like to receive a free international medical insurance quote, please contact us.
