Travel Insurance for Seniors: Frequently Asked Questions

Once I was a younger backpacker, I didn’t assume a lot about journey insurance coverage. I browsed a pair plans, purchased one, and went on my method. I imply, I in all probability I wasn’t even going to even want it, proper?

Incorrect.

Whereas most of my travels over the previous seventeen years have gone easily, I’ve positively had loads of mishaps too, from missed flights to damaged gear to serious medical emergencies.

That’s why, as of late, I by no means depart house with out journey insurance coverage. Not solely does it supply peace of thoughts (to each me and my family members), nevertheless it ensures I’m made complete ought to one thing surprising occur.

Understandbly, I get a lot of questions about travel insurance. It’s a fancy matter (and, if we’re being sincere, a boring one which most individuals don’t wish to analysis).

The place issues get particularly difficult is when older vacationers attempt to discover a plan. Each week, I get emails from vacationers of their 60s, 70s, and past asking for enter on their coverage choices. This isn’t simply because insurance coverage is difficult (although it’s). It’s as a result of costs usually skyrocket when you hit 65, and loads of insurance coverage firms don’t even cowl vacationers over the age of 70!

So, that can assist you plan your golden years of journey, listed here are a couple of of the most typical questions I get about journey insurance coverage for older vacationers:

1. What Does Journey Insurance coverage For Older Vacationers Cowl?

Whereas each coverage is totally different, a great plan will embody the next:

• Medical protection for at the least $100,000 USD ($250,000 USD could be higher although)
• Emergency evacuation protection (at the least $250,000 USD)
• Protection for misplaced, broken, or stolen possessions, like jewellery, baggage, paperwork, and so on.
• Some protection on your electronics
• Protection for cancelations for motels, flights, and different transportation bookings in case you have a sudden sickness, dying within the household, or different emergency
• Protection for political emergencies or pure disasters that will trigger you to go house early
• Monetary safety if any firm you’re utilizing goes bankrupt
• 24/7 buyer help

In brief, you need a coverage that covers medical emergencies, your possessions and purchases, and supplies 24/7 assist.

Probably the most bare-bones plans typically cowl medical emergencies, however not your bookings or possessions. In the event you’re a brilliant frugal younger traveler in your twenties, that may be fantastic.

Personally, now that I’m older and journey with extra valuables (and typically guide nicer lodging), I prefer to have protection for my possessions and bookings too. Higher protected than sorry, in the event you ask me!
 

2. What’s the Age Restrict for Journey Insurance coverage for Older Vacationers??

Sadly, journey insurance coverage firms normally have age caps on their insurance policies: 65–69 for many, although some supply insurance coverage for these 70–75.

For instance, SafetyWing, my private go-to journey insurance coverage firm, caps its plans at age 69. World Nomads, one other well-liked firm I’ve used for many years, has an age cap of 70.

Consequently, costs skyrocket when you hit 65. Since older vacationers usually have extra well being points than youthful ones, and since journey insurance coverage is a for-profit business, coverage prices are increased for older vacationers. It’s not honest, I do know, particularly since loads of older vacationers are completely wholesome. However that’s simply one thing to remember when evaluating plans.
 

3. How A lot is Journey Insurance coverage for Older Vacationers?

Costs differ based mostly in your age, vacation spot, and the place you reside, so there’s no “one value matches all” reply. Nonetheless, vacationers of their sixties and above ought to be ready to spend at the least $125 USD per thirty days for a really primary plan.

If you’d like extra complete medical protection, in addition to “cancel for any cause” protection, costs can leap to over $400 USD per thirty days.
 

4. I Wish to Go on a Cruise. What Journey Insurance coverage Firm is Greatest?

If cruises are your major journey type, these three firms are value testing:

Journey Guard – Travel Guard has particular cruise insurance coverage insurance policies, which makes it easier than looking for an add-on to a different non-cruise-centric coverage. It covers any emergency journey help, journey interruption, delay, and cancelation.

VisitorsCoverage – VisitorsCoverage is an insurance coverage market with a specific cruise section that compares totally different plans, together with the favored SafeCruise plan by IMG. This plan is designed for cruise vacationers and consists of the whole lot you would possibly want, together with the add-on for “cancel for any cause” protection.

InsureMyTrip – InsureMyTrip is one other insurance coverage market with a cruise-specific part. You’ll be able to put in your dates, vacation spot, and the price of your journey, and it’ll pull up quite a lot of plans with pricing and protection listed in a simple comparability format.
 

5. The Two Greatest Corporations for Older Vacationers

Since older vacationers have totally different wants on the subject of journey insurance coverage, it’s vital that you simply discover a firm that covers these wants. Listed below are what I feel are the most effective journey insurance coverage firms for older vacationers:

InsureMyTrip
InsureMyTrip is an insurance coverage aggregator that permits you to evaluate insurance policies from over twenty firms. That is the most effective place for older vacationers to buy round to get a quote. You’ll be capable of seek for insurance policies that cowl these your age, in addition to supply “cancel for any cause” plans (an vital perk for any older vacationers with well being considerations or who’re reserving costly journeys and don’t wish to danger dropping that cash).

Moreover, IMT additionally gives insurance policies that cowl sure preexisting situations (which is a large plus and one thing most different firms don’t embody).

Right here’s a fast overview of IMT:

• Comparisons of plans from over 20 firms
• Assured low costs
• Protection for vacationers over 65
• “Anytime advocates” ask the insurer to present your declare a re-evaluation in the event you assume it was unfairly denied

Medjet
Medjet isn’t an insurance coverage firm however somewhat a membership program that gives complete emergency medical transportation. As a member, you get 24/7 entry to lots of of air ambulances and professional medical transport escorts and employees, positioned all around the world.

Why do I feel it is a must-have for older vacationers?

First, whereas most insurance coverage firms be sure to get to the “nearest acceptable facility” after an damage, Medjet ensures you get house. Which means you gained’t must spend time in a overseas medical facility and may get again to your major care doctor immediately.

Second, most journey insurance coverage firms will solely evacuate you must there be turmoil or a pure catastrophe if the federal government says issues are unsafe. If the federal government doesn’t declare an emergency, journey insurance coverage doesn’t must evacuate you, forcing you to pay out of pocket in the event you don’t really feel protected.

That’s not the case with Medjet. In the event you really feel you might want to be evacuated, they’ll be sure to get house safely.

Lastly, it has a excessive age cap (with protection as much as age 84), which is uncommon within the journey insurance coverage business.

Right here’s a fast overview of Medjet:

• In depth medical transport protection
• Affords common protection as much as age 74 (with prolonged protection as much as age 84)
• Protection for COVID-19
• Restricted time spent in overseas medical amenities
• Each short-term and annual plans
• Obtainable to residents of the US, Canada, and Mexico

I by no means depart house with out journey insurance coverage. It’s a lesson I’ve discovered the arduous method, and one I’m extra adamant about as I become old. I feel everybody can purchase journey insurance coverage earlier than they journey — no matter age. Nonetheless, older vacationers specifically ought to make sure that they’ve the protection they want in case one thing goes awry. Whereas the coverage choices are dearer (and typically much less sturdy), there are nonetheless loads of reasonably priced plans to make sure you are protected as you take pleasure in your golden years of journey.