International Health Insurance plans can be extremely flexible when it comes to payment. The policyholder can choose the currency, frequency of payment, and the method used to pay. Policies can be paid for in USD, EUR, GBR, and RMB, and payment can be in the form of a bank transfer, credit card, cheque, or cash.
To make payment easy, many international health insurance plans will offer you the choice of paying monthly, quarterly, semi-annually, or annually. However, many insurers, as a way of encouraging annual payments will increase the premium by up to 7% if you choose to spread the cost of the plan throughout the year. There may also be a slight increase in a plans premium if you choose to pay by credit card.
Some insurance companies will give a policyholder a few weeks from the start of a plan to pay the premiums, whilst other companies will not issue the policy until it has been paid for. If you are having difficulty paying for a plan, or need time to arrange your finances, we can help advise you on suitable solutions.
If you require more information about the various payment options, or would simply like to receive more information about an international health insurance plan, please contact us.