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

Improper.

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 critical medical emergencies.

That’s why, today, I by no means go away residence 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 sudden occur.

Understandbly, I get a number of questions on journey insurance coverage. 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 typically skyrocket when you hit 65, and a number of insurance coverage firms don’t even cowl vacationers over the age of 70!

So, that will help you plan your golden years of journey, listed here 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, an excellent plan will embrace the next:

• Medical protection for not less than $100,000 USD ($250,000 USD could be higher although)
• Emergency evacuation protection (not less than $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 when you’ve got 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’re utilizing goes bankrupt
• 24/7 buyer help

Briefly, you desire 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. If you happen to’re a brilliant frugal younger traveler in your twenties, that may be effective.

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 secure than sorry, for those who 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 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 standard firm I’ve used for many years, has an age cap of 70.

In consequence, 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 greater for older vacationers. It’s not honest, I do know, particularly since a number 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 range based mostly in your age, vacation spot, and the place you reside, so there’s no “one value suits all” reply. Nevertheless, vacationers of their sixties and above needs to be ready to spend not less than $125 USD per 30 days for a really fundamental plan.

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

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

If cruises are your main journey model, these three firms are price trying out:

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 contains every little thing you would possibly 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’ll be able to 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 Greatest Firms 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 below are what I believe are one of the best 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 one of the best 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 provide “cancel for any purpose” plans (an necessary perk for any older vacationers with well being considerations or who’re reserving costly journeys and don’t wish to danger shedding that cash).

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

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-examination for those who assume it was unfairly denied

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

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

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

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 for those who don’t really feel secure.

That’s not the case with Medjet. If you happen to really feel it’s essential be evacuated, they’ll ensure 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:

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

I by no means go away residence with out journey insurance coverage. It’s a lesson I’ve realized the exhausting approach, and one I’m extra adamant about as I grow old. I believe everybody should purchase journey insurance coverage earlier than they journey — no matter age. Nevertheless, older vacationers specifically ought to ensure they’ve the protection they want in case one thing goes awry. Whereas the coverage choices are costlier (and generally much less strong), there are nonetheless loads of reasonably priced plans to make sure you are protected as you take pleasure in your golden years of journey.