What is the difference between the scheduled benefits plan and a comprehensive plan?
Fixed Benefits Plan (Scheduled Benefits Plan) These policies are characterized by various benefit limits for each type of covered medical expense. These benefit limits typically are not the same as the policy maximum. For example, a policy with a $50,000 maximum limit may feature upto a maximum of $2000 for surgery, upto a maximum of $500 for diagnostic services (X-rays, scans) etc. The maximum amounts for different situations are detailed in the policy brochure. Typically you are required to pay an initial deductible for each injury or sickness and then the plan pays for the rest of the covered expenses. Scheduled Benefits Plans have the lowest premiums, but the consumer must be aware that the benefits offered are relatively limited as compared to the Comprehensive Coverage Plans. Examples of Scheduled Coverage Plans include ‘Inbound USA’ underwritten by Lloyds and ‘Visitors Care’ underwritten by Sirius International. Comprehensive Coverage Plan These policies typically do not have be
