Journey Insurance coverage for Seniors: Often 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 method. I imply, I most likely 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 undoubtedly had loads of mishaps too, from missed flights to damaged gear to critical medical emergencies.

That’s why, today, 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 entire ought to one thing sudden occur.

Understandbly, I get loads of questions on journey insurance coverage. It’s a fancy matter (and, if we’re being sincere, 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 usually skyrocket when you hit 65, and loads 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 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 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 forth.
• Some protection on your electronics
• Protection for cancelations for motels, flights, and different transportation bookings if in case you have a sudden sickness, dying 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 might be 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 typically cowl medical emergencies, however not your bookings or possessions. Should you’re an excellent frugal younger traveler in your twenties, that could be superb.

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 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 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 trade, coverage prices are larger for older vacationers. It’s not truthful, I do know, particularly since loads 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 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 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 purpose” protection, costs can bounce 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 model, 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 contains every part 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 may 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 straightforward comparability format.
 

5. The Two Finest Firms for Older Vacationers

Since older vacationers have completely different wants with regards 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 perfect 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 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 purpose” plans (an necessary perk for any older vacationers with well being issues or who’re reserving costly journeys and don’t need to threat dropping that cash).

Moreover, IMT additionally affords insurance policies that cowl sure preexisting situations (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-examination in case you suppose it was unfairly denied

Medjet
Medjet isn’t an insurance coverage firm however fairly a membership program that gives complete emergency medical transportation. As a member, you get 24/7 entry to a whole bunch of air ambulances and professional medical transport escorts and employees, situated all around the world.

Why do I believe 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 need to spend time in a international medical facility and may get again to your major care doctor instantly.

Second, most journey insurance coverage firms 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 in case you don’t really feel protected.

That’s not the case with Medjet. Should you really feel it’s essential 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:

• In depth medical transport protection
• Presents 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 realized the exhausting method, and one I’m extra adamant about as I grow old. I believe everybody can buy journey insurance coverage earlier than they journey — no matter age. Nevertheless, 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 dearer (and generally much less strong), there are nonetheless loads of inexpensive plans to make sure you are protected as you get pleasure from your golden years of journey.