Journey Insurance coverage for Seniors: Steadily 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 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 positively had loads of mishaps too, from missed flights to damaged gear to severe medical emergencies.

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

Understandbly, I get a whole lot of questions on journey insurance coverage. It’s a fancy subject (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 typically skyrocket when you hit 65, and a whole lot of 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 a number 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 superb plan will embrace the next:

• Medical protection for not less than $100,000 USD ($250,000 USD could be higher although)
• Emergency evacuation protection (not less than $250,000 USD)
• Protection for misplaced, broken, or stolen possessions, like jewellery, baggage, paperwork, and so on.
• Some protection on your electronics
• Protection for cancelations for lodges, flights, and different transportation bookings when you 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’re utilizing goes bankrupt
• 24/7 buyer help

Briefly, you desire a coverage that covers medical emergencies, your possessions and purchases, and gives 24/7 assist.

Probably the most bare-bones plans usually cowl medical emergencies, however not your bookings or possessions. Should you’re a brilliant frugal younger traveler in your twenties, that could be wonderful.

Personally, now that I’m older and journey with extra valuables (and typically ebook nicer lodging), I prefer 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 corporations 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 well-liked firm I’ve used for many years, has an age cap of 70.

In consequence, 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 increased for older vacationers. It’s not truthful, I do know, particularly since a whole 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 fluctuate primarily based in your age, vacation spot, and the place you reside, so there’s no “one value matches all” reply. Nonetheless, vacationers of their sixties and above needs to be ready to spend not less than $125 USD monthly for a really fundamental plan.

If you would like extra complete medical protection, in addition to “cancel for any motive” protection, costs can bounce to over $400 USD monthly.
 

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

If cruises are your main journey model, these three corporations are price 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 totally different plans, together with the favored SafeCruise plan by IMG. This plan is designed for cruise vacationers and consists of all the pieces you would possibly want, together with the add-on for “cancel for any motive” protection.

InsureMyTrip – InsureMyTrip is one other insurance coverage market with a cruise-specific part. You possibly can 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 totally different wants in terms of journey insurance coverage, it’s necessary that you just 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 motive” 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 affords insurance policies that cowl sure preexisting circumstances (which is a big plus and one thing most different corporations don’t embrace).

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 offer your declare a re-evaluation for those who assume 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 lots of of air ambulances and knowledgeable medical transport escorts and employees, positioned everywhere in the world.

Why do I believe this can be a must-have for older vacationers?

First, whereas most insurance coverage corporations ensure you get to the “nearest acceptable facility” after an harm, Medjet ensures you get house. Meaning you received’t must spend time in a international medical facility and might get again to your main care doctor immediately.

Second, most journey insurance coverage corporations 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 must evacuate you, forcing you to pay out of pocket for those who don’t really feel protected.

That’s not the case with Medjet. Should you really feel it’s good to 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 international medical services
• Each short-term and annual plans
• Obtainable to residents of the US, Canada, and Mexico

I by no means go away house with out journey insurance coverage. It’s a lesson I’ve realized the exhausting approach, and one I’m extra adamant about as I become older. I believe everybody can purchase journey insurance coverage earlier than they journey — no matter age. Nonetheless, 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 costlier (and typically much less sturdy), there are nonetheless loads of inexpensive plans to make sure you are protected as you get pleasure from your golden years of journey.