Journey Insurance coverage for Seniors: Continuously 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 means. 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, lately, 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), however it ensures I’m made entire ought to one thing surprising occur.

Understandbly, I get a number of 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 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 number of insurance coverage firms don’t even cowl vacationers over the age of 70!

So, that will help you plan your golden years of journey, listed below are a couple of of the most typical 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 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 on your electronics
• Protection for cancelations for inns, flights, and different transportation bookings you probably have a sudden sickness, loss of life 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 help.

Essentially the most bare-bones plans usually cowl medical emergencies, however not your bookings or possessions. In the event you’re a brilliant frugal younger traveler in your twenties, that is likely to 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 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 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 standard 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 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 honest, I do know, particularly since a number of 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 range primarily based 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 needs 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 purpose” protection, costs can leap to over $400 USD monthly.
 

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

If cruises are your major journey model, 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 totally different plans, together with the favored SafeCruise plan by IMG. This plan is designed for cruise vacationers and consists of every thing 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’ll be able to 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 Greatest Firms for Older Vacationers

Since older vacationers have totally different wants with regards to journey insurance coverage, it’s necessary that you just discover a firm that covers these wants. Listed here are what I feel are one of the best journey insurance coverage firms for older vacationers:

InsureMyTrip
InsureMyTrip is an insurance coverage aggregator that permits you to 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 be capable to seek for insurance policies that cowl these your age, in addition to supply “cancel for any purpose” plans (an necessary perk for any older vacationers with well being considerations or who’re reserving costly journeys and don’t need to danger dropping that cash).

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

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 provide your declare a re-evaluation in case 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 tons of of air ambulances and skilled medical transport escorts and workers, 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 damage, Medjet ensures you get residence. 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 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 need to 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 the event you really feel you should be evacuated, they’ll ensure you 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:

• 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 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 arduous means, and one I’m extra adamant about as I become old. I feel everybody can purchase 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 reasonably priced plans to make sure you are protected as you get pleasure from your golden years of journey.