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 means. I imply, I most likely I wasn’t even going to even want it, proper?

Unsuitable.

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

That’s why, nowadays, I by no means depart residence with out journey insurance coverage. Not solely does it supply peace of thoughts (to each me and my family members), however it ensures I’m made entire ought to one thing sudden occur.

Understandbly, I get a lot of questions about travel insurance. It’s a posh subject (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 a variety of insurance coverage corporations 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 number 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 very good plan will embrace the next:

• Medical protection for a minimum of $100,000 USD ($250,000 USD could be higher although)
• Emergency evacuation protection (a minimum of $250,000 USD)
• Protection for misplaced, broken, or stolen possessions, like jewellery, baggage, paperwork, and so forth.
• Some protection on your electronics
• Protection for cancelations for lodges, flights, and different transportation bookings in case you have a sudden sickness, loss of life within the household, or different emergency
• Protection for political emergencies or pure disasters that will trigger you to move residence 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 offers 24/7 help.

Probably the most bare-bones plans usually cowl medical emergencies, however not your bookings or possessions. When you’re a brilliant frugal younger traveler in your twenties, that is likely to be positive.

Personally, now that I’m older and journey with extra valuables (and generally e book nicer lodging), I wish 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 corporations often 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 standard firm I’ve used for many years, has an age cap of 70.

Because of this, 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 trade, coverage prices are greater for older vacationers. It’s not honest, I do know, particularly since a variety of older vacationers are completely wholesome. However that’s simply one thing to bear in mind when evaluating plans.
 

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

Costs differ primarily based in your age, vacation spot, and the place you reside, so there’s no “one worth matches all” reply. Nevertheless, vacationers of their sixties and above ought to be ready to spend a minimum of $125 USD per 30 days for a really fundamental plan.

If you would like extra complete medical protection, in addition to “cancel for any purpose” protection, costs can bounce to over $400 USD per 30 days.
 

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

If cruises are your major journey type, these three corporations are price 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 contains every thing you may want, together with the add-on for “cancel for any purpose” protection.

InsureMyTrip – InsureMyTrip is one other insurance coverage market with a cruise-specific part. You possibly can put in your dates, vacation spot, and the price of your journey, and it’ll pull up a wide range of plans with pricing and protection listed in a straightforward comparability format.
 

5. The Two Finest Firms for Older Vacationers

Since older vacationers have totally different wants with regards to journey insurance coverage, it’s vital that you just discover a firm that covers these wants. Listed here are what I feel are the very best journey insurance coverage corporations for older vacationers:

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

Moreover, IMT additionally affords insurance policies that cowl sure preexisting circumstances (which is a large plus and one thing most different corporations don’t embrace).

Right here’s a fast overview of IMT:

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

Medjet
Medjet isn’t an insurance coverage firm however moderately a membership program that provides complete emergency medical transportation. As a member, you get 24/7 entry to a whole bunch of air ambulances and skilled medical transport escorts and workers, positioned everywhere in the world.

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

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

Second, most journey insurance coverage corporations will solely evacuate it’s best to 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 should 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. When you really feel you want to be evacuated, they’ll be sure to get residence safely.

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

Right here’s a fast overview of Medjet:

• In depth medical transport protection
• Gives 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
• Accessible to residents of the US, Canada, and Mexico

I by no means depart residence with out journey insurance coverage. It’s a lesson I’ve realized the laborious means, and one I’m extra adamant about as I grow old. I feel everybody can buy journey insurance coverage earlier than they journey — no matter age. Nevertheless, older vacationers specifically ought to be sure that they’ve the protection they want in case one thing goes awry. Whereas the coverage choices are dearer (and generally much less strong), there are nonetheless loads of inexpensive plans to make sure you are protected as you get pleasure from your golden years of journey.