Journey Insurance coverage for Seniors: Regularly Requested Questions

After 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 most likely 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 undoubtedly had loads of mishaps too, from missed flights to damaged gear to critical medical emergencies.

That’s why, today, I by no means depart dwelling 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 entire ought to one thing surprising occur.

Understandbly, I get quite a lot of questions on journey insurance coverage. It’s a posh subject (and, if we’re being sincere, 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 corporations 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, a very good 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 many others.
• Some protection on your electronics
• Protection for cancelations for inns, flights, and different transportation bookings in case you have a sudden sickness, dying 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

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

Probably 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 is likely to be effective.

Personally, now that I’m older and journey with extra valuables (and typically e book nicer lodging), I wish to have protection for my possessions and bookings too. Higher secure than sorry, when you ask me!
 

2. What’s the Age Restrict for Journey Insurance coverage for Older Vacationers??

Sadly, journey insurance coverage corporations 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 fashionable firm I’ve used for many years, has an age cap of 70.

Consequently, 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 increased for older vacationers. It’s not honest, 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 fluctuate based mostly in your age, vacation spot, and the place you reside, so there’s no “one worth matches all” reply. Nevertheless, vacationers of their sixties and above ought to be ready to spend at the very least $125 USD per thirty days for a really fundamental plan.

In order for you extra complete medical protection, in addition to “cancel for any purpose” protection, costs can bounce to over $400 USD per thirty days.
 

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

If cruises are your major journey model, these three corporations 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 consists of all the things 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 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 Finest Firms for Older Vacationers

Since older vacationers have completely different wants relating to journey insurance coverage, it’s necessary that you simply discover a firm that covers these wants. Listed below are what I believe are the most effective journey insurance coverage corporations for older vacationers:

InsureMyTrip
InsureMyTrip is an insurance coverage aggregator that permits you to examine 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 to 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 issues or who’re reserving costly journeys and don’t wish to threat dropping that cash).

Moreover, IMT additionally provides insurance policies that cowl sure preexisting situations (which is a large plus and one thing most different corporations don’t embody).

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 provide your declare a re-evaluation when you suppose it was unfairly denied

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 lots of of air ambulances and knowledgeable medical transport escorts and employees, positioned all around the world.

Why do I believe it is a must-have for older vacationers?

First, whereas most insurance coverage corporations ensure you get to the “nearest acceptable facility” after an damage, Medjet ensures you get dwelling. Which means you gained’t need to spend time in a international medical facility and may get again to your major care doctor straight away.

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 need to evacuate you, forcing you to pay out of pocket when you don’t really feel secure.

That’s not the case with Medjet. When you really feel it is advisable 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 trade.

Right here’s a fast overview of Medjet:

• Intensive 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 international 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 realized the onerous approach, and one I’m extra adamant about as I grow old. I believe everybody can purchase journey insurance coverage earlier than they journey — no matter age. Nevertheless, older vacationers specifically ought to ensure that they’ve the protection they want in case one thing goes awry. Whereas the coverage choices are dearer (and typically much less strong), there are nonetheless loads of inexpensive plans to make sure you are protected as you take pleasure in your golden years of journey.