Health Policy Glossary : Global Health Cover
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Health Policy Glossary


Beneficiary: The person or persons designated by the insured to receive the proceeds of an insurance policy upon the death of the insured.

Insurance Carrier: An insurance company offering Healthcare plans.

Co-Insurance: This is the percentage or amount of expenses that the insured pays (if any) after the deductible is satisfied. For example: Co-Insurance = 20% (80/20) means that the insurance company pays 80% of the charges, and the insured pays 20%. Usually there is a stop-loss or maximum out-of-pocket for the insured. 80/20 to $5,000 means that the insured will pay 20% of the next $5,000 of expenses (after the deductible) which equates to another $1,000 potentially out-of-pocket for the insured.

Chronic condition: A chronic condition is a medical condition that cannot be cured. Asthma is an example of chronic condition, it can be treated but not cured.

Deductible / Excess: This is the amount that the insured must pay before the insurance provider starts paying. Typically this is a per person deductible and is satisfied only once per policy period.

Emergency Reunion and Repatriation Benefits: Emergency reunion means covering the expenses for having a family member transported to the injured or ill insured during a medical emergency. The repatriation benefit pays the cost of preparing the body of a person who dies in a foreign country and returning the body to the deceased's home country.

Exclusions: These are the expenses that the insurance company or travel protection provider will not pay. Examples include: expenses resulting from illegal drug use, pregnancy, pre-existing conditions, participation in various dangerous activities, participation in certain types of sports, expenses resulting from acts of war, riot, insurrection, etc. See company brochures for details.

Hazardous Sports & Activities Coverage: Coverage for medical expenses and/or trip cancellation resulting from engaging in certain hazardous sports and activities is often excluded by international health insurance and trip protection plans; Many plans, however, will offer a hazardous sports rider at a small additional cost to offset some of these restrictions.

Maximum Policy Coverage: This is the maximum amount of money that the insurance provider will pay for covered expenses.

Premiums: This is the amount that you pay to purchase international health insurance or trip protection plans. Travel health insurance and trip protection plans are typically paid in full up front, whereas annual international health insurance plans may be paid annually, semi-annually, quarterly or monthly (in some cases).

Pre-existing Conditions: Medical conditions associated with the insured or other covered persons that existed before the plan or policy took effect are pre-existing conditions. See brochures for specific definitions.

Underwriting: The underwriting process evaluates the likelihood an insured event will occur, determines its likely cost, and whether or not the company should assume a particular risk.

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