Journey Insurance coverage for Seniors: Often Requested Questions

Once I was a younger backpacker, I didn’t suppose 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 severe medical emergencies.

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

Understandbly, I get numerous questions on journey insurance coverage. It’s a fancy matter (and, if we’re being trustworthy, a boring one which most individuals don’t need 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 numerous 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 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 embody 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 to your electronics
• Protection for cancelations for lodges, 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 house early
• Monetary safety if any firm you might be utilizing goes bankrupt
• 24/7 buyer help

Briefly, you desire a coverage that covers medical emergencies, your possessions and purchases, and gives 24/7 help.

Probably the most bare-bones plans typically cowl medical emergencies, however not your bookings or possessions. In case you’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 typically guide nicer lodging), I prefer to have protection for my possessions and bookings too. Higher secure than sorry, in case 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 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 in style 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 numerous 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. Nonetheless, vacationers of their sixties and above must be ready to spend at the very least $125 USD per 30 days 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 per 30 days.
 

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

If cruises are your main journey type, these three firms are value 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 consists of every part 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 possibly can 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 relating to journey insurance coverage, it’s vital that you simply discover a firm that covers these wants. Listed here are what I believe are the most effective journey insurance coverage firms for older vacationers:

InsureMyTrip
InsureMyTrip is an insurance coverage aggregator that lets you 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 have the ability to seek for insurance policies that cowl these your age, in addition to provide “cancel for any cause” plans (an vital perk for any older vacationers with well being issues or who’re reserving costly journeys and don’t need to danger shedding that cash).

Moreover, IMT additionally affords insurance policies that cowl sure preexisting circumstances (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 offer your declare a re-examination in case you suppose it was unfairly denied

Be taught Extra!

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 a whole lot of air ambulances and knowledgeable medical transport escorts and workers, situated everywhere in the world.

Why do I believe it is 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 house. Meaning you gained’t should spend time in a overseas medical facility and may get again to your main 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 should evacuate you, forcing you to pay out of pocket in case you don’t really feel secure.

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

Right here’s a fast overview of Medjet:

• In depth medical transport protection
• Provides 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 services
• Each short-term and annual plans
• Out there to residents of the US, Canada, and Mexico

Be taught Extra!
***

I by no means depart house 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. Nonetheless, older vacationers specifically ought to be certain 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 get pleasure from your golden years of journey.