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?

Fallacious.

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 severe medical emergencies.

That’s why, today, 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), but it surely ensures I’m made complete ought to one thing sudden occur.

Understandbly, I get a whole lot 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 whole lot 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 just a few 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 completely different, plan will embrace the next:

• Medical protection for a minimum of $100,000 USD ($250,000 USD can 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 in your electronics
• Protection for cancelations for inns, 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 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 offers 24/7 assist.

Essentially 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 is perhaps advantageous.

Personally, now that I’m older and journey with extra valuables (and generally e book nicer lodging), I prefer to have protection for my possessions and bookings too. Higher secure than sorry, if you happen to 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 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 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 typically have extra well being points than youthful ones, and since journey insurance coverage is a for-profit business, coverage prices are larger for older vacationers. It’s not truthful, I do know, particularly since a whole 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 differ based mostly 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 needs to be ready to spend a minimum of $125 USD per thirty days for a really fundamental 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 thirty days.
 

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

If cruises are your major journey fashion, these three corporations are value testing:

Journey Guard – Journey 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 particular cruise part that compares completely different plans, together with the favored SafeCruise plan by IMG. This plan is designed for cruise vacationers and contains 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 straightforward comparability format.
 

5. The Two Finest Firms for Older Vacationers

Since older vacationers have completely different wants on the subject of journey insurance coverage, it’s essential that you just discover a firm that covers these wants. Listed here are what I feel are the most effective journey insurance coverage corporations for older vacationers:

InsureMyTrip
InsureMyTrip is an insurance coverage aggregator that permits you to evaluate insurance policies from over twenty corporations. That is the most effective 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 supply “cancel for any cause” plans (an essential perk for any older vacationers with well being issues or who’re reserving costly journeys and don’t wish to threat shedding that cash).

Moreover, IMT additionally gives insurance policies that cowl sure preexisting situations (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 offer your declare a re-evaluation if you happen to assume it was unfairly denied

Medjet
Medjet isn’t an insurance coverage firm however somewhat a membership program that provides complete emergency medical transportation. As a member, you get 24/7 entry to lots of of air ambulances and professional medical transport escorts and employees, situated 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 harm, Medjet ensures you get residence. Meaning you received’t should spend time in a international medical facility and may 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 should evacuate you, forcing you to pay out of pocket if you happen to don’t really feel secure.

That’s not the case with Medjet. In case you really feel you should 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 business.

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 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 feel everybody can buy journey insurance coverage earlier than they journey — no matter age. Nevertheless, older vacationers particularly ought to be certain that 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.