score:1
Yes, travel health insurance is usually that cheap (at least in Europe/Germany). Most policies are valid for one year after you take them, and renew after each year.
You can cancel it after the first year, but given the low price for this essential insurance, it makes often sense to just keep it.
People here won't read all those policies for you. You'll have to check the terms on your own and see what works for you - or you can check if some consumer group in your country did a comparison.
Some things you can you look out for in general:
How easy it is to get services depends on the country you're in, and the facilities that you use. Your travel insurance can't really change the level of medical care in the country that you're in; although they may have a hotline that may offer some assistance in finding a doctor. That's why it is important that they cover transport back home if needed.
The insurance may also not be able to directly deal with all doctors or facilities, at which point you may have to pay on your own and later claim the money back from the insurance.
You don't usually have to call first before getting treatment. However, for anything more than minor problems it makes sense to get in touch and work with them to do things "right", and also to arrange payment for things you can't cover by yourself.
You should always collect all documentation and make your claim as soon as possible in any case.
Finally, if you have specific questions, there's an easy solution: Just ask. Email the company and ask if they cover x and y, and if the can confirm that to you in writing, before you take the contract.
Don't let them upsell you, though. Insurances would rather like you to take out a much more expensive "package" with baggage insurance, cancellation insurance and whatnot. Just stick with the things you really need.
Be careful with insurance options included in credit cards. They often have more limitations than a good "normal" insurance.
Upvote:5
In the end, I took Ergo Direkt (going by averells answer). And I needed a helicopter rescue, although having had several acclimatization days and a guide. Insurance-wise, everything worked fine.
What to learn from this:
While I was waiting in Lukla for the second helicopter flight to the hospital in Kathmandu, I've heard a pilot answer a request for a luxury flight. He wanted 1500 USD for a flight from Lukla to Gorak Shep and back. Just that you have a ballpark estimate how expensive that rescue flight might have been. I'm really happy I was insured. And really happy that Ergo Direkt turned out to work that well.