It is an uninteresting subject to study and read about, and many low-cost passengers do not look forward to paying for it. It is unlikely that anything will go wrong, right?Why not just put the money aside and use it for additional travel?
Unfortunately, things can go wrong at any time, as many people—including myself—have discovered the hard way. I have needed emergency medical assistance while traveling on several occasions, had my bags misplaced, and had brand-new equipment broken.
These are only the “serious” incidents. Additionally, I have encountered numerous flight cancellations and delays, which are also covered by travel insurance.
To put it briefly, accidents can and will occur while traveling. Why not ensure that you are ready?
For senior tourists in particular, this is crucial.
There are frequently health and medical concerns to take into account, even though older travelers tend to have a little more common sense than younger backpackers (when was the last time you saw a 65-year-old jumping a burning skipping rope at the Full Moon Party in Thailand or bombing down Death Road in Peru?).
Purchasing travel insurance is an essential part of your preparation, even if you are a healthy 55+ traveler. Injuries, cancellations, delays, and worse will all be covered. It is a safety net for you and your loved ones that will help you avoid huge medical costs and provide you peace of mind so you can travel worry-free.
I never leave home without it. You shouldn’t either.
Here’s everything you need to know about buying travel insurance as an older or senior traveler.
What to Look for in a Comprehensive Insurance Policy
Everyone wants a piece of the billion-dollar insurance industry. As a result, you deal with an incredible amount of businesses and regulations, some of which have jargon that can be daunting and perplexing.
What should you do, then?
First, confirm that a large coverage limit for medical expenses is offered by your travel insurance. $100,000 USD of coverage is sufficient for the majority of tourists. However, you could desire more ($250,000–500,000 USD, in my opinion) if you are older or have a medical condition.
High coverage limits are crucial since you want to make sure your expensive hospital expenditures are covered in the event that you become ill, are hurt, or require medical assistance. Going cheap and purchasing an insurance with a $20,000 USD coverage limit, then breaking a leg and reaching that limit before they are finished caring for you, is the worst thing you can do.
Second, you should confirm that emergency care and evacuation are covered by your travel insurance policy independently of your medical coverage. For instance, your policy should cover your evacuation to the closest suitable medical institution if you break your leg while hiking in the wilderness.
Your plan should also cover the cost of evacuation in the event of a natural disaster, ideally up to $300,000 USD.
Additionally, make sure you know if your evacuation coverage will pay for your transportation home or if it will only transport you to the closest suitable facility. For instance, most insurance plans will cover your hospital expenses if you break your leg while traveling. However, since your injuries is not life-threatening and does not require advanced care, they will not cover your transportation costs.
A flight home is often only covered by standard emergency evacuation coverage if your present facility is insufficient or if it is “medically required.”
To put it briefly, confirm if your employer will pay for your return flight if necessary.
If you’d prefer not to stay in a foreign hospital for treatment and recovery, you should look into a medical transport membership program like Medjet, which ensures that, should you be hospitalized abroad, you’ll be able to be repatriated — something many travel insurance policies can’t guarantee
Third, great travel insurance plans always include the following provisions:
- Coverage for most countries (including the places you plan on visiting)
- Coverage for injury and sudden illnesses
- Coverage for lost, damaged, or stolen possessions, like jewelry, baggage, documents, etc.
- Some coverage for your electronics (and the option for a higher coverage limit)
- Coverage for cancelations for hotels, flights, and other transportation bookings if you have a sudden illness, death in the family, or some other emergency
- Coverage for political emergencies, natural disasters, or strife in the country that may cause you to head home early
- Financial protection if any company you are using goes bankrupt and you are stuck in another country
- 24/7 assistance (you don’t want to call to be told to call back later)
A quick note on electronics: Most companies only have a small limit (usually up to $500 USD per item), as part of their basic coverage. You can often buy supplemental insurance for more coverage. If you’re traveling with lots of expensive gear, make sure you buy supplemental coverage.
Additionally, as an older traveler, you may also want:
- Policies that cover preconditions (if you have them). Since most policies exclude these, you’ll need to shop around for a plan that will cover them.
- Insurance plans that include a “cancel for any reason” clause. If you think you may need to cancel your trip before you depart and don’t want to risk losing your money, find a policy that offers this. It’s less common (and more expensive), but it might be useful if you have a medical condition that might impact your trip.
The Best Travel Insurance Companies for Senior Travelers
Medjet
Medjet isn’t an insurance company per se. Rather, it’s a membership program that offers comprehensive medical transportation services all around the globe. Members have 24/7 access to hundreds of air ambulances and expert medical transport escorts and staff, located all over the world. While most insurance companies make sure you get to the “nearest acceptable facility” after an injury, Medjet ensures you get home.
Here’s a quick overview of Medjet:
- Extensive medical transport coverage
- Offers regular coverage up to age 74 (with extended coverage up to age 84)
- Coverage for COVID-19
- Limited time spent in foreign medical facilities
- Both short-term and annual plans
- Available to residents of the US, Canada, and Mexico
Insure My Trip
Insure My Trip is an insurance aggregator that compiles policies from over twenty different companies to help you find the best policy for your needs and budget.
As an older traveler, this is the best place for you to shop around and get a quote. You’ll be able to find policies for travelers over 70 as well as plans that have a “cancel for any reason” clause. It also offers policies that include coverage for certain pre-existing conditions.
Here’s a quick overview of IMT:
- Comparisons of plans from over 20 different companies to ensure you get the best one
- Guaranteed low prices
- Coverage for travelers over 65
- “Anytime advocates” ask the insurer to give your claim a second look if you think it was unfairly denied
A Note on COVID-19 (and Other Pandemics)
As many travelers learned the hard way in 2020, most travel insurance policies historically did not cover pandemics. Until recently, that really wasn’t a concern for most travelers, including me. Prior to 2020, I never really gave the “pandemic clause” much thought when reading my insurance policies.
Fortunately, insurance companies have adapted and most companies now provide limited coverage for COVID-19. This limited coverage usually includes trip cancellation or delay, though some also have medical coverage for COVID or transportation home (as is the case with Medjet).
Before you buy a plan, read the fine print regarding pandemics and COVID-19. Make sure you fully understand what is and is not included so you can take appropriate action should a situation arise. When in doubt, call them and speak to a representative. Don’t risk your health on assumptions!***
Everyone should buy travel insurance before they leave home — regardless of their age. While most travelers only experience minor hiccups, such as delayed flights or lost baggage, it’s always better to be safe rather than sorry should a health emergency arise.
However, older travelers in particular should make sure they have the coverage they need in case something goes awry. While their options are usually less robust (and more expensive), there are still plenty of affordable ones to ensure you are protected as you enjoy your well-earned travels.
