Certain Underwriters at Lloyds of London and Tramont Insurance Company Limited
A (excellent) by AM Best
Seven Corners
Individuals and their families travelling outside home country
People visiting USA the plan must be bought within 3 months of arrival
Unique Features
Separate policies for travel to the US (Plans A or B) and outside the US (Plan E or F)
Maximum of 3 plan life deductibles per family
The applicant can choose between coinsurance options as well as deductible and maximum
$5,000 pre-existing conditions coverage for US citizens age 70+ traveling outside US and Canada
$50,000 coverage for travelers in age group 70-79 years
Advantages
Available for US and Non US Citizens
Up to $150,000 pre-existing conditions based on chosen plan maximum for non US citizens
Extensive PPO is available Outside US and most of them have direct pay agreements
Covers hazardous sports at additional price
Dependent child is covered at a cheaper rate if one of the parents is covered
Disadvantages
For travel to US, the plan must be purchased within 3 months of arrival in US
After 187 days of coverage, the traveler must return to his home country for more coverage
Non US Citizens aged 70+ are not covered for pre-existing conditions in US
$15,000 coverage for travelers aged 80+
Coverage Example:
Policy maximum of the plan: $1,000,000
Deductible: $250
Coverage region: USA, claims incurred in the network hospital
First visit to the doctor due to sudden body pain and the expense incurred is $250
Second incident is a minor accident and get hospitalized and is undergoing surgery for which the expense is $65,000
The following table shows the amount paid by the plan and the customer:
Expense
Bill Amount
Customer pays
Plan Pays
First Visit to the Doctor due to body pain
$250
$250 (Since the deductible is $250)
0
Minor Accidental hospitalization
Hospital Room and Board
$25,000
$1,000
$4,000 (coinsurance: 80% of first $5,000) + $20,000
Other expense
$40,000
$0
$40,000
Total:
$65,250
$1,250
$64,000
The usage of deductible and coinsurance:
First time you visit the doctor with sudden body pain the bill amounts to $200 for a filling
You will have to pay the full $200 as the chosen deductible is $200
A few months later, you meet with a minor accident and get hospitalized to undergo a surgery for $65,000
Now the plan will pay 80% of the first $5,000. ie. Company will pay $4,000 and you will pay $1,000
The plan will then pay the remaining eligible expenses