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

Unsuitable.

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, nowadays, I by no means go away dwelling 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 complete ought to one thing surprising occur.

Understandbly, I get a variety of questions on journey insurance coverage. It’s a fancy subject (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 usually skyrocket when you hit 65, and a variety 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 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 embody the next:

• Medical protection for a minimum of $100,000 USD ($250,000 USD could 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 on.
• Some protection on your electronics
• Protection for cancelations for motels, flights, and different transportation bookings when you have a sudden sickness, demise within the household, or different emergency
• Protection for political emergencies or pure disasters that will trigger you to go dwelling 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 offers 24/7 assist.

Essentially 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 likely to be superb.

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, in the event 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 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 business, coverage prices are greater for older vacationers. It’s not honest, I do know, particularly since a variety 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 matches all” reply. Nonetheless, vacationers of their sixties and above ought to be ready to spend a minimum of $125 USD monthly for a really primary plan.

If you would like extra complete medical protection, in addition to “cancel for any motive” 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 fashion, these three firms 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 completely different plans, together with the favored SafeCruise plan by IMG. This plan is designed for cruise vacationers and contains every part you may want, together with the add-on for “cancel for any motive” 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 straightforward comparability format.
 

5. The Two Finest Corporations for Older Vacationers

Since older vacationers have completely 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 feel are the perfect 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 perfect 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 motive” 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 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 present your declare a re-assessment in the event you suppose it was unfairly denied

Medjet
Medjet isn’t an insurance coverage firm however relatively 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 skilled medical transport escorts and employees, situated everywhere in the world.

Why do I feel 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 dwelling. Which means you gained’t must spend time in a international medical facility and might get again to your major care doctor instantly.

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 in the event you don’t really feel protected.

That’s not the case with Medjet. When you really feel you must 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 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
• Out there to residents of the US, Canada, and Mexico

I by no means go away dwelling with out journey insurance coverage. It’s a lesson I’ve discovered the exhausting method, and one I’m extra adamant about as I become older. I feel everybody can purchase journey insurance coverage earlier than they journey — no matter age. Nonetheless, older vacationers particularly ought to be sure 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.