Though the current economic crisis creates a financial burden for many individuals, one cannot avoid buying an international travel medical insurance policy. People are on constant look out for ways of bringing down the premium amounts.
Generally, the premiums are lower in case of international insurance policies that have higher deductibles. You need to evaluate whether risking a higher deductible amount may be beneficial for you in the long run.
Deductible is the amount initially paid by the insured before the insurance provider starts reimbursing for the expenses. For example, let us assume you buy an international health insurance plan and the deductible is amount is $250. If you undergo any treatment that costs $1000, you need to bear $250 which is the deductible amount and you would be reimbursed $750.
If you can comfortably pay a higher deductible, it may work better to choose such high deductible policies in some cases. This is because, you would be paying lower premiums on a monthly basis and incur a huge expense only if you meet with an accident.