Journey Insurance coverage for Seniors: Regularly Requested Questions

After 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?

Flawed.

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 matter (and, if we’re being trustworthy, a boring one which most individuals don’t wish to analysis).

The place issues get particularly sophisticated 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 sophisticated (although it’s). It’s as a result of costs typically skyrocket when you hit 65, and quite a lot 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 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, plan will embody the next:

• Medical protection for no less than $100,000 USD ($250,000 USD could be higher although)
• Emergency evacuation protection (no less than $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 resorts, flights, and different transportation bookings you probably have a sudden sickness, dying within the household, or different emergency
• Protection for political emergencies or pure disasters which will trigger you to move residence early
• Monetary safety if any firm you might be utilizing goes bankrupt
• 24/7 buyer help

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

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

Personally, now that I’m older and journey with extra valuables (and generally ebook nicer lodging), I wish to have protection for my possessions and bookings too. Higher protected than sorry, should you ask me!
 

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

Sadly, journey insurance coverage firms 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 common firm I’ve used for many years, has an age cap of 70.

Consequently, costs skyrocket when you hit 65. Since older vacationers typically have extra well being points than youthful ones, and since journey insurance coverage is a for-profit trade, coverage prices are larger for older vacationers. It’s not honest, I do know, particularly since quite a lot 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 fluctuate based mostly in your age, vacation spot, and the place you reside, so there’s no “one worth suits all” reply. Nonetheless, vacationers of their sixties and above ought to be ready to spend no less than $125 USD per thirty days for a really fundamental plan.

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

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

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

Journey Guard – Travel Guard has particular cruise insurance coverage insurance policies, which makes it less complicated 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 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 Finest Corporations for Older Vacationers

Since older vacationers have totally different wants in relation to journey insurance coverage, it’s necessary that you simply discover a firm that covers these wants. Listed here are what I believe are the perfect journey insurance coverage firms for older vacationers:

InsureMyTrip
InsureMyTrip is an insurance coverage aggregator that lets you examine insurance policies from over twenty firms. That is the perfect place for older vacationers to buy round to get a quote. You’ll have the ability to seek for insurance policies that cowl these your age, in addition to supply “cancel for any cause” plans (an necessary perk for any older vacationers with well being issues or who’re reserving costly journeys and don’t wish to danger shedding that cash).

Moreover, IMT additionally provides insurance policies that cowl sure preexisting situations (which is a big 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 provide your declare a re-examination should 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 lot of air ambulances and professional medical transport escorts and employees, situated all around the world.

Why do I believe this can be a must-have for older vacationers?

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

Second, most journey insurance coverage firms will solely evacuate you need 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 must evacuate you, forcing you to pay out of pocket should you don’t really feel protected.

That’s not the case with Medjet. In case you really feel you have to be evacuated, they’ll be sure you 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:

• Intensive 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 residence with out journey insurance coverage. It’s a lesson I’ve realized the arduous method, and one I’m extra adamant about as I grow old. I believe everybody can buy journey insurance coverage earlier than they journey — no matter age. Nonetheless, older vacationers particularly ought to ensure that they’ve the protection they want in case one thing goes awry. Whereas the coverage choices are costlier (and generally much less sturdy), there are nonetheless loads of inexpensive plans to make sure you are protected as you take pleasure in your golden years of journey.