Journey Insurance coverage for Seniors: Incessantly 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 method. I imply, I in all probability 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, nowadays, I by no means depart house with out journey insurance coverage. Not solely does it provide peace of thoughts (to each me and my family members), nevertheless it ensures I’m made entire ought to one thing sudden occur.

Understandbly, I get numerous questions on journey insurance coverage. It’s a fancy 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 numerous insurance coverage corporations don’t even cowl vacationers over the age of 70!

So, that will help you plan your golden years of journey, listed below 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, an excellent plan will embody 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 on.
• Some protection to your electronics
• Protection for cancelations for inns, flights, and different transportation bookings you probably have a sudden sickness, demise within the household, or different emergency
• Protection for political emergencies or pure disasters that will trigger you to go house early
• Monetary safety if any firm you might be utilizing goes bankrupt
• 24/7 buyer help

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

Probably the most bare-bones plans usually cowl medical emergencies, however not your bookings or possessions. If you happen to’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 typically e-book nicer lodging), I prefer to have protection for my possessions and bookings too. Higher protected than sorry, when you ask me!
 

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

Sadly, journey insurance coverage corporations normally 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 standard 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 greater for older vacationers. It’s not honest, I do know, particularly since numerous 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 fluctuate primarily based 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 per 30 days for a really primary plan.

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

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

If cruises are your main journey fashion, these three corporations are value 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 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 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 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 believe are the very best journey insurance coverage corporations for older vacationers:

InsureMyTrip
InsureMyTrip is an insurance coverage aggregator that means that you can evaluate insurance policies from over twenty corporations. That is the very 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 provide “cancel for any purpose” plans (an vital perk for any older vacationers with well being issues or who’re reserving costly journeys and don’t wish to danger dropping that cash).

Moreover, IMT additionally presents insurance policies that cowl sure preexisting situations (which is a big 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-assessment 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 a whole lot of air ambulances and professional 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 be sure to get to the “nearest acceptable facility” after an harm, Medjet ensures you get house. 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 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 protected.

That’s not the case with Medjet. If you happen to really feel you could be evacuated, they’ll be sure to get house 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 house with out journey insurance coverage. It’s a lesson I’ve discovered the arduous method, and one I’m extra adamant about as I grow old. I believe everybody should purchase 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 typically 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.