Journey Insurance coverage for Seniors: Incessantly 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 critical medical emergencies.

That’s why, as of late, I by no means go away 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 complete ought to one thing surprising occur.

Understandbly, I get numerous questions on journey insurance coverage. It’s a posh subject (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 usually skyrocket when you hit 65, and numerous 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 couple 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, an excellent 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 resorts, flights, and different transportation bookings when you’ve got a sudden sickness, loss of life within the household, or different emergency
• Protection for political emergencies or pure disasters which will trigger you to go dwelling early
• Monetary safety if any firm you’re 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. For those who’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 typically guide 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 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 common 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 usually 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 numerous 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 primarily based in your age, vacation spot, and the place you reside, so there’s no “one value suits all” reply. Nevertheless, vacationers of their sixties and above needs to be ready to spend at the very least $125 USD monthly for a really fundamental plan.

If you need extra complete medical protection, in addition to “cancel for any cause” 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 main journey type, these three firms are price trying out:

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 every thing you may 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 quite a lot of plans with pricing and protection listed in a straightforward comparability format.
 

5. The Two Greatest Corporations for Older Vacationers

Since older vacationers have completely different wants in the case of journey insurance coverage, it’s vital that you simply discover a firm that covers these wants. Listed below are what I feel are the very 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 the very best 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 provide “cancel for any cause” plans (an vital perk for any older vacationers with well being issues or who’re reserving costly journeys and don’t wish to danger shedding that cash).

Moreover, IMT additionally provides 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 provide your declare a re-assessment in the event you assume it was unfairly denied

Medjet
Medjet isn’t an insurance coverage firm however relatively a membership program that gives complete emergency medical transportation. As a member, you get 24/7 entry to lots of of air ambulances and skilled medical transport escorts and employees, positioned all around 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 damage, Medjet ensures you get dwelling. Which means you received’t need to spend time in a international medical facility and might get again to your main care doctor straight away.

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 need to 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. For those who really feel it is advisable 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
• Gives 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
• Accessible 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 approach, and one I’m extra adamant about as I grow 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 costlier (and typically much less strong), there are nonetheless loads of reasonably priced plans to make sure you are protected as you get pleasure from your golden years of journey.