Journey Insurance coverage for Seniors: Often 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 means. I imply, I in all probability I wasn’t even going to even want it, proper?

Mistaken.

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 critical medical emergencies.

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

Understandbly, I get lots of questions on journey insurance coverage. It’s a posh subject (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 usually skyrocket when you hit 65, and lots of insurance coverage corporations don’t even cowl vacationers over the age of 70!

So, that will help you plan your golden years of journey, listed below are a couple of of the commonest 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 superb plan will embrace the next:

• Medical protection for at the very least $100,000 USD ($250,000 USD could be higher although)
• Emergency evacuation protection (at the very 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 accommodations, flights, and different transportation bookings you probably have a sudden sickness, demise within the household, or different emergency
• Protection for political emergencies or pure disasters that will trigger you to move dwelling early
• Monetary safety if any firm you’re utilizing goes bankrupt
• 24/7 buyer help

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

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 perhaps advantageous.

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

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

Sadly, journey insurance coverage corporations normally have age caps on their insurance policies: 65–69 for many, although some provide 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 widespread firm I’ve used for many years, has an age cap of 70.

In consequence, 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 lots 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 fluctuate primarily based in your age, vacation spot, and the place you reside, so there’s no “one worth suits all” reply. Nevertheless, vacationers of their sixties and above ought to be ready to spend at the very least $125 USD monthly for a really primary plan.

If you would like extra complete medical protection, in addition to “cancel for any cause” protection, costs can leap to over $400 USD monthly.
 

4. I Need 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 – Journey 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 particular cruise part that compares totally different plans, together with the favored SafeCruise plan by IMG. This plan is designed for cruise vacationers and consists of all the things 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 may 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 simple comparability format.
 

5. The Two Finest Corporations for Older Vacationers

Since older vacationers have totally different wants in terms of journey insurance coverage, it’s necessary 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 have the ability to seek for insurance policies that cowl these your age, in addition to provide “cancel for any cause” plans (an necessary perk for any older vacationers with well being considerations or who’re reserving costly journeys and don’t wish to threat dropping that cash).

Moreover, IMT additionally affords insurance policies that cowl sure preexisting circumstances (which is a big 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-examination when you assume it was unfairly denied

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

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

First, whereas most insurance coverage corporations ensure you get to the “nearest acceptable facility” after an harm, Medjet ensures you get dwelling. Which means you gained’t need to spend time in a international medical facility and might get again to your major care doctor immediately.

Second, most journey insurance coverage corporations 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 need to evacuate you, forcing you to pay out of pocket when you don’t really feel secure.

That’s not the case with Medjet. When you really feel it is advisable to be evacuated, they’ll ensure you get dwelling 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 international medical amenities
• Each short-term and annual plans
• Obtainable to residents of the US, Canada, and Mexico

I by no means depart dwelling with out journey insurance coverage. It’s a lesson I’ve realized the exhausting means, and one I’m extra adamant about as I grow old. I feel everybody can purchase journey insurance coverage earlier than they journey — no matter age. Nevertheless, older vacationers specifically 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 reasonably priced plans to make sure you are protected as you take pleasure in your golden years of journey.