Medical Cost Insurance is only valid in Iceland and is adjusted to a clause of the Icelandic Social Security Act No. 117/1993 and the Act on Foreigners No. 96/2002 and regulation 53/2003 which determines that an individual is required to have obtained such insurance upon arrival in Iceland.
- The cover is mainly like the Social Security Health Insurance Scheme (SSI) although with certain restrictions, which are included in the insurance terms.
- The insurance is only for short term use and is issued for a six month period. The insurance period begins when the insured arrives in Iceland and is valid for six months or until the insured has gained access to the SSI or departs Iceland.
- The insured amount is optional but the minimum insured amount is ISK 2.000.000 The deductible is ISK 50.000 on combined/aggregate costs according to terms.
- The premium is a minimum premium for a period of up to six months. It is based on the insurance amount and of the insured.
- To obtain a confirmation of the insurance, the policy must be paid in full.
- You can buy the insurance online. Sjóvá accepts Visa and MasterCard credit cards.
Further information regarding this insurance can be obtained at our service center and our agents.