Journey Insurance coverage for Seniors: Often 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 manner. 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 positively 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 depart house 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 complete ought to one thing surprising occur.

Understandbly, I get quite a lot of questions on journey insurance coverage. It’s a posh matter (and, if we’re being trustworthy, a boring one which most individuals don’t wish 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 quite a lot 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 below 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 embrace the next:

• Medical protection for at the least $100,000 USD ($250,000 USD can be higher although)
• Emergency evacuation protection (at the least $250,000 USD)
• Protection for misplaced, broken, or stolen possessions, like jewellery, baggage, paperwork, and so forth.
• Some protection to your electronics
• Protection for cancelations for motels, 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 house 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 gives 24/7 help.

Essentially the most bare-bones plans typically cowl medical emergencies, however not your bookings or possessions. When you’re a brilliant frugal younger traveler in your twenties, that is likely to be superb.

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, for those who ask me!
 

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

Sadly, journey insurance coverage firms normally 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 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 larger 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 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. Nonetheless, vacationers of their sixties and above needs to be ready to spend at the 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 soar to over $400 USD per thirty days.
 

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

If cruises are your main journey model, these three firms are value trying out:

Journey Guard – Journey Guard has particular cruise insurance coverage insurance policies, which makes it easier 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 little thing you may 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 simple 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 just discover a firm that covers these wants. Listed here are what I believe are the very best journey insurance coverage firms for older vacationers:

InsureMyTrip
InsureMyTrip is an insurance coverage aggregator that means that you can 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 to seek for insurance policies that cowl these your age, in addition to supply “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 threat dropping that cash).

Moreover, IMT additionally presents insurance policies that cowl sure preexisting situations (which is a big 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 present your declare a re-assessment for those who suppose it was unfairly denied

Medjet
Medjet isn’t an insurance coverage firm however slightly 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 workers, 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 damage, Medjet ensures you get house. Meaning you gained’t need to spend time in a overseas medical facility and might get again to your main care doctor instantly.

Second, most journey insurance coverage firms will solely evacuate it’s 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 for those who don’t really feel protected.

That’s not the case with Medjet. When you really feel you could be evacuated, they’ll ensure you 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 overseas medical services
• Each short-term and annual plans
• Obtainable 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 onerous manner, and one I’m extra adamant about as I become older. I believe everybody should purchase journey insurance coverage earlier than they journey — no matter age. Nonetheless, older vacationers particularly ought to ensure 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 take pleasure in your golden years of journey.