How Does Travel Insurance Work?
Unlike traditional insurance that will require an exam, getting approved for a travel health insurance policy is going to be fast.
Since you will not be required to do an exam, you will get only one of two answers:
Approved: You have been medically approved for the policy and can pay for it for immediate coverage.
Declined: You have not been medically approved for the policy and have to find coverage though another company.
But here’s the thing: “No Medical” doesn’t mean “No Underwriting”, you are still going to go through a real-time underwriting that will include:
- MIB Check – This is going to check to see if you have any history with past insurance companies or have applied for coverage recently.
- MVR Check – This will be used to determine if you are a reckless or crazy driver. Mainly looking for things like a DUI or DWI.
- Prescription Check – This check will be used to make sure your statements match the prescriptions you take.
These reports are used together to determine your insurability based on the guidelines given to the insurance company for what risk is acceptable and what risk isn’t.
The no exam product that we have does this in “Real Time”, so while you are completing your application it is running the checks in the background.
By the time you complete the application you will already have an answer on if you have been approved or not.
It costs you nothing but 5 minutes to find out if you have been approved and you decide if you want to purchase the policy after you get an answer.
