When signing up to our long term expat health, you will be given the option of a voluntary deductible.
But what exactly does this mean?
The price of your long term expat health insurance is based on a number of factors, including your age, which plan you choose (basic or premium), whether you include or exclude USA/Caribbean cover, and whether you choose a voluntary deductible.
The voluntary deductible is a way to lower your monthly cost for your insurance, however it is important to note why that is.
Lets say you want the cheapest possible insurance option and don't think you will use the insurance. Then you can select a voluntary deductible which would lower your monthly cost, however, it means that you would be out of pocket for the chosen amount before your insurance would kick in.
For example, if you select no voluntary deductible, your policy is then €189.92 per month, and there would be no additional out of pocket for your policy should you choose to submit a claim.
However, if you select a €750 voluntary deductible, then the policy comes down to €161.43 per month, but it means that you would have to pay €750 yourself first before the insurance would kick in. Meaning, if you submit a claim for €2,000, you would pay €750 yourself and your policy would then cover the remaining €1,250.
What should I choose?
In general, we recommend selecting no deductible, but for those who think they would only need the policy short term or are okay to take the risk of some out of pocket expenses in order to lower their monthly costs, they can consider a voluntary deductible option.