Travel Medical Insurance: The Cost of Coverage

Submitted by Marlon Dirk

Whether you’re a professional on assignment or a tourist on vacation, getting travel medical insurance is probably one item you’ll want to add to your pre-departure checklist.

The prices for short term travel medical insurance coverage vary from person to person. Even if you ask an insurance agent, he or she will just tell you that there’s a formula involved. The Major Factors

The first and foremost factor that will go into the final cost of your insurance coverage is the amount of the coverage itself. The cost of coverage and the covered amount always go hand in hand; if one increases, so does the other.

Younger individuals, especially those between the ages of 20 and 30, can expect very cheap insurance rates. The rule applies to even the youngest side of the age spectrum. Traveling minors pay as little as half of what their 20-up counterparts shell out.

Of course, other factors are also involved when the insurance company eventually calculates how much you should be charged for your insurance. Prepare to Pay

Just because you’re covered by short term travel medical insurance doesn’t mean that you don’t have to be prepared for emergencies. Should any untoward incident occur, it’s almost certain that the insurance company won’t be paying for the costs immediately.

Insurance companies have something called a deductible, which is an amount that an insured individual must pay before the insurance company is obliged to pay for anything.

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Bailout, Banks And More Collapses

In Europe Belgium’s Fortis looks like becoming the first large European continental bank to fall victim to the credit crunch, as the global chaos continues with Britain’s Bradford & Bingley mortgage lender and American regional bank, Wachovia also teetering on the brink.

The Belgian central bank and the countryâ€^TMs regulator are paving the way for a bailout of the huge banking and insurance group, which has a balance sheet of well over $A1.1 trillion and a market value at last Friday of just over $A25 billion.

There were reports this morning that french bank, BNP, might mount a bid for Fortis.

The Dutch banking assets that Fortis bought as part of the deal are yet to be transferred out of the special company used to execute the deal, which is legally a subsidiary of RBS, which raised over $A24 million and has sold more than $A10 billion in assets in the past four months.

Fortis, which has 2,500 branches across Europe, replaced its chief executive last week which worried markets.

There’s talk the Luxemborg Government might take a stake in Fortis to support it.

Santander, the Spanish bank, is in negotiations to buy B&B, but it is insisting on conditions.

The UK government forced the merger between the country’s biggest mortgage lender, HBOS and Lloyds TSB.

Britain’s top five banks — HSBC, Royal Bank of Scotland, Barclays, Lloyds TSB and HBOS — and Santander already own about 30% of B&B between them after they stepped in to help save a rights issue that flopped in June.

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