Journey Insurance coverage for Seniors: Continuously 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?

Flawed.

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 depart dwelling with out journey insurance coverage. Not solely does it supply 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 quite a lot of questions on journey insurance coverage. It’s a posh matter (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 typically skyrocket when you hit 65, and quite a lot 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 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 totally different, a very good plan will embody the next:

• Medical protection for at the very least $100,000 USD ($250,000 USD can 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 many others.
• Some protection in your electronics
• Protection for cancelations for motels, flights, and different transportation bookings when you have a sudden sickness, loss of life within the household, or different emergency
• Protection for political emergencies or pure disasters which will trigger you to move dwelling early
• Monetary safety if any firm you’re utilizing goes bankrupt
• 24/7 buyer help

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

Essentially the most bare-bones plans typically cowl medical emergencies, however not your bookings or possessions. When you’re an excellent frugal younger traveler in your twenties, that could be high-quality.

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 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 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 quite a 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 at the very least $125 USD per 30 days for a really fundamental plan.

If you’d like extra complete medical protection, in addition to “cancel for any motive” protection, costs can bounce to over $400 USD per 30 days.
 

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

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 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 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 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 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 relating to journey insurance coverage, it’s vital that you simply discover a firm that covers these wants. Listed below are what I feel are one of the best 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 one of the 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 supply “cancel for any motive” plans (an vital 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 provides insurance policies that cowl sure preexisting situations (which is a large 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-examination in the event you suppose it was unfairly denied

Medjet
Medjet isn’t an insurance coverage firm however fairly a membership program that provides complete emergency medical transportation. As a member, you get 24/7 entry to a whole bunch 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 firms ensure you get to the “nearest acceptable facility” after an harm, Medjet ensures you get dwelling. Meaning you received’t should spend time in a overseas medical facility and might get again to your main care doctor immediately.

Second, most journey insurance coverage firms will solely evacuate it is best 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 should 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 have 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 business.

Right here’s a fast overview of Medjet:

• In depth 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 overseas medical services
• Each short-term and annual plans
• Out there 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 discovered the exhausting approach, and one I’m extra adamant about as I become older. I feel everybody can buy journey insurance coverage earlier than they journey — no matter age. Nevertheless, 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 generally much less sturdy), there are nonetheless loads of inexpensive plans to make sure you are protected as you get pleasure from your golden years of journey.