Travel among seniors (those aged 60 and above) has become an increasingly important aspect of the global tourism industry. In fact, some estimates suggest that over 35 million seniors in the United States alone travel each year, making up roughly 20% of all travelers.
Of course, this makes absolute sense. Retirees have a lot of time on their hands and demographically speaking, the boomer generation represents the most comfortable and affluent people in human history.
The powerful “gray dollar” has become an integral aspect of today’s tourism industry, estimated to be worth hundreds of billions of dollars globally.
Whether it’s bucket-list adventures, multi-generational family vacations, or wellness retreats, seniors’ travel preferences and economic influence make them a demographic that can’t be ignored by tourism businesses.
However, with age comes unique requirements and potential health risks and older travelers may find that travel insurance is not as straightforward as it used to be.
Travel insurers often charge additional, high premiums for covering senior travelers and even then, some write many exclusion clauses into the policy that the cover is barely even useful. Therefore we have created this post in order to help you find the BEST travel insurance for seniors.
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- Why Seniors Need Specialized Travel Insurance
- Is Regular Travel Insurance Suitable For Seniors?
- Things to Look for in Senior Travel Insurance
- Top 5 Best Senior Travel Insurance Plans
- What If You Can’t Get Insurance?
- Frequently Asked Questions (FAQs) About Senior Travel Insurance
- Final Thoughts on Finding The Best Senior Travel Insurance
- Buy Us a Coffee!
Why Seniors Need Specialized Travel Insurance
In this section, we will get into the details of why exactly it is that Senior travelers need to be very careful and attentive when choosing their travel insurance.
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Risk From Age-Related Health Concerns
A hard fact of life is that as the body ages, things start to go wrong. Regardless of how strong your genes are, how healthy you live, or how damned lucky you are, nobody gets to 60 years old without at least a little something not quite working as it used to (I’m 38 and can tell you this…).
Whether it’s aethertis, diabetes or heart disease, health conditions tend to accrue and accelerate as we edge towards our twilight years and most Senior travelers have at least one “pre-existing medical condition”.
If you’re travelling, consider that even some of the best travel insurance providers out there refuse to cover “pre-existing conditions”. This means that if a pre-existing condition flares up when you are travelling and you need medical assistance for it, it will not be covered.
This gets really macabre when we take into account “repatriation of remains”. Basically if your pre existing condition kills you on the trip, then you somehow need to find your own way home without the help of your insurer.
Some insurers will offer full cover for pre-existing conditions as long as you provide full, frank and clear information about it. They will however charge an additional premium for providing this cover.
Risks Associated with Long Flights and Changes in Environment
The next in our long list of hard facts about aging is that traveling becomes exponentially harder on the body the older we get.
The physical toll of long flights (including the risk of deep vein thrombosis) is higher for seniors. Changes in climate and altitude can also affect older adults differently.
Not only does all of this increase the risk of needing to claim on your insurance, but it could potentially exacerbate any pre-existing health issues.
High Risk Under Trip Interruption and Cancellation
Trip interruption and cancellation is a standard part and parcel of pretty much all travel insurance policies. To recap, this means that if you have to cancel your trip or if your trip is interrupted (you have to go home or miss the train from Germany to France) the insurance provider pays out.
However, Senior travelers are at greater risk of needing to claim under these clauses. For example, a Senior traveler is more likely to be too unwell (or worse…) to make the trip then a younger traveller. They are also more likely to have to end or delay trips owing to bouts of ill health.
Finally, older travelers are also more likely to go on high-end trips (like organized tours or luxury cruises) which means that any claim is likely to be larger than a bog-standard 2 week vacation.
All of this means that travel insurers may levy higher premiums for Senior travelers on the grounds that they represent a higher risk.
Is Regular Travel Insurance Suitable For Seniors?
Now that we have identified quirks and idiosyncrasies of Senior travel, we will examine whether regular, standard travel insurance is suitable for older travelers.
Age Limits
Most regular travel insurance policies have an age limit. This is usually around 65 years but in the past I have seen policies with cut-off ages of 60 and even 50. This makes a lot of standard travel insurance policies unsuitable for many seniors.
If you are traveling on a particularly long trip or on your birthday, then check whether the passing of that one additional year will tip you into the “not insured” category before you buy the insurance.
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Coverage for Pre-Existing Conditions
Standard travel insurance often excludes or offers limited coverage for pre-existing conditions, which can be a significant issue for older travelers.
If you have a pre-existing condition, it is important to check that your senior travel insurer will cover this, and to declare it to them.
Sometimes the insurer may ask for additional information and even medical records. For this reason, it is worth initiating the process of getting your travel insurance at least one month before the trip starts.
Things to Look for in Senior Travel Insurance
Let’s now take a look at what Senior travelers should look for in trip insurance.
Comprehensive Medical Coverage
Getting sick and needing medical care in a foreign hospital can be seriously expensive, especially if you spend a length of time there.
Therefore it pays to look for policies that offer extensive coverage for medical expenses, including pre-existing conditions. Many policies offer medical coverage of up to $1 million.
Emergency Evacuation and Hospitalisation
These are vital components of travel insurance, especially for senior travelers who may be at a higher risk of medical emergencies while abroad.
Emergency evacuation coverage pays for the costs associated with transporting you to the nearest appropriate medical facility or back to your home country in extreme cases (war, natural disaster or death). This is particularly important if you’re traveling in remote areas or countries with substandard medical facilities.
Hospitalization cover, on the other hand, takes care of the medical costs incurred if you have to be admitted to a hospital during your trip. It usually includes expenses for treatments, surgeries, medication, and sometimes even ancillary costs like accommodation for a family member.
When looking for emergency evacuation and hospitalization cover, senior travelers should pay close attention to the details.
- Check the maximum coverage limits to ensure they are adequate; medical evacuations can be extraordinarily expensive, sometimes exceeding $100,000.
- Look for policies that cover any pre-existing conditions.
- Consider any geographic restrictions or exclusions that may apply, especially if your travel plans include remote or high-risk destinations or if you are going on a cruise (being helicoptered from the middle of the Ocean is costly!).
Trip Cancellation and Interruption
These are important components of a comprehensive travel insurance package, especially valuable for seniors who may face a higher likelihood of unforeseen circumstances that could disrupt their travel plans.
Trip cancellation coverage provides reimbursement for prepaid, non-refundable travel expenses like flights, hotels, and excursions if you have to cancel your trip for a covered reason before departure.
Covered reasons usually include things like serious illness or injury, the death of a family member, or significant events like natural disasters affecting your destination.
Trip interruption insurance, on the other hand, kicks in if you have to cut your trip short and return home for a covered reason. This coverage reimburses you for the unused portion of your trip and may also cover additional expenses for changing your return flight or other logistical costs.
For senior travelers, there are several factors to consider when selecting trip cancellation and interruption insurance.
- Carefully review what constitutes a “covered reason” in the policy terms, and see if it includes chronic or pre-existing medical conditions, as these are common concerns for older travelers.
- Take note of the deadlines for purchasing insurance; some plans require you to buy coverage within a certain period after making your initial trip deposit.
- Check the coverage limits and see if they match the total cost of your trip. Some high-end or specialized trips may require higher limits for adequate protection.
You may want to opt for a policy that offers “Cancel For Any Reason” coverage, which provides more flexibility but usually at a higher premium.
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Repatriation of Remains
Repatriation of remains travel cover is a specific type of travel insurance provision that caters to the transportation of a deceased individual’s body back to their home country.
When a traveler unexpectedly passes away during a trip abroad, the process of bringing their body home can be both emotionally taxing and seriously financially burdensome (while a seat on flight may cost $500, these are not available to dead travelers who will be forced to travel in the hold at cost of several tens of thousands…).
For senior travelers, repatriation of remains travel cover becomes especially vital. As individuals age, the risk of health complications tends to increase, and even if they are in good health, unforeseen incidents can happen. While it’s unpleasant to think about, being prepared for every eventuality is the hallmark of sound travel planning
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Buy on REIDuration and Geographical Coverage
Duration coverage specifies the length of time for which your insurance policy will be in effect, starting from the date of departure to the date of return. It’s crucial to ensure that the entire duration of your trip is covered, including any potential extensions or layovers.
Some policies also offer the flexibility to extend coverage while you’re already on your trip, which could be beneficial if your plans are somewhat fluid or if an emergency requires you to extend your stay.
Geographical coverage, meanwhile, outlines the regions or countries where your travel insurance is valid. While some policies offer worldwide coverage, others may exclude specific countries or regions, often those with higher risks or medical costs.
For senior travelers, it’s essential to verify that all destinations on your itinerary are included in your policy’s geographical coverage.
Top 5 Best Senior Travel Insurance Plans
Even though travel insurance for Seniors is kind of a niche and ‘non-standard’ financial product, there are nevertheless rather a lot of different policies on offer from a wide range of providers.
In fact, there are so many different Senior insurers out there that choosing between them can prove to be nothing short of overwhelming. However the good news is that we have looked at a LOT of these policies and can wholeheartedly recommend that you start your enquiries by checking out the ones below.
These are our top personal picks for the Senior travel insurance.
SafetyWing
SafetyWing’s Nomad Insurance offers a flexible and comprehensive insurance option that may be suitable for seniors.
The medical cover and flexibility SafetyWing offers are great and they do cover pre-existing conditions (subject to assessment). They also offer insurance to travelers up to the age of 74.
The downsides are that they are primarily medical cover providers and so do not offer the best trip interruption and cancellation cover. If you end up missing a flight or have to cancel the whole trip, then you could end up out of pocket.
So, if cancellation and delay is not a concern for you or if you will be spending some considerable time on your trip, then consider SafetyWing travel insurance.
VisitorsCoverage
VisitorsCoverage is an insurtech company primarily known for providing travel insurance solutions for international travelers.
Founded in 2006 and headquartered in Santa Clara, California, the company offers a broad range of travel insurance policies catering to various needs, from trip cancellation to medical emergencies.
VisitorsCoverage have created a Senior-only travel insurance package. The “Globe Hopper Senior” cover is available from between 5 – 365 days, offer some coverage from acute and pre-existing conditions, and provides medical coverage during travel including up to $100 in dental cover!
Faye
Faye is a US based, fin-tech-travel-insurer whose industry leading innovative platform was created to be efficient and user friendly placing an emphasis on resolving claims fast.
Users can buy and manage their Faye policy without the need for any paperwork whatsoever by downloading the Faye app. The app allows them to interact with Faye in real time, and successful claims are paid out almost instantly to travelers’ e-wallets.
Faye offers comprehensive insurance that simplifies the sign-up process for travelers. Through the Faye app, users experience quick claims processing, ensuring speedy reimbursements.
If a policy is purchased within 14 days of the initial trip deposit, travelers will be eligible for Faye’s full coverage protection, which uniquely includes coverage for pre-existing medical conditions.
Notably, Faye’s coverage extends up to $250K for emergency medical expenses on international trips, and all our policies comprehensively cover emergency medical situations.
HeyMondo
HeyMondo provides whole-trip travel coverage and care that brings out the best in each journey. It’s an app-based company that uses industry-leading technology that enables smarter and smoother assistance with faster claims resolutions.
Their travel insurance covers your health, your trip and your gear, all via an app that provides real-time proactive solutions, quick reimbursements and 24/7 customer support.
HeyMundo are a good option for Senior travelers guests as they offer medical evacuation of up to $500k as well as excellent trip delay and trip interruption coverage.
However, they do NOT cover pre-existing conditions and the upper age cut-off limit for cover is 68 years old for American citizens and 69 for citizens of other countries.
What If You Can’t Get Insurance?
What should you do if you are simply ‘too old’ to get travel insurance or if you have a pre-existing condition that travel insurers consider to be too risky to cover?
Well, you’re probably thinking, do I really need travel insurance? You’re free to travel without it. However, the potential financial consequences of traveling uninsured can prove severe.
As health vulnerabilities increase with age, unforeseen medical emergencies can arise, potentially leading to exorbitant out-of-pocket medical expenses abroad.
Furthermore, certain destinations may have limited medical facilities, necessitating emergency evacuations which, without insurance, can cost tens of thousands of dollars. In addition to medical concerns, disruptions like trip cancellations or lost baggage can impose unexpected financial burdens.
It’s not just about securing insurance, but also about choosing the best destinations for senior travelers that align with their health and mobility considerations. For example, hot and humid developing world destinations with bad air quality and reckless driving standards are not a good idea.
On the other hand, Northern Europe with its moderate climate, clean air and ‘free-to-use at the point of service’ health care systems, makes a lot more sense.
Frequently Asked Questions (FAQs) About Senior Travel Insurance
Let’s keep the ball rolling. Here are some frequently asked questions about senior travel insurance.
Final Thoughts on Finding The Best Senior Travel Insurance
In summary, specialized senior travel insurance can offer the peace of mind to enjoy your travels fully. Look for comprehensive medical coverage, flexibility in trip cancellation, and additional features that cater to your specific needs.
Whether you’re cruising through the Caribbean or exploring a remote village, the right travel insurance plan can make all the difference.
Photo: @Lauramcblonde
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