Travel Insurance Is Critical For Any Trip Especially For Seniors Who Tend To Be At Higher Risk For Health Issues
Many people mistakenly mix up travel insurance with health insurance. Although they do share some commonalities, they arent the same thing.
Yes, its true that travel insurance often covers health expenses that you may run into, but thats not all it does.
Travel insurance also covers costs incurred for things like late flights or lost baggage. The best way to think about it is as insurance that can give you overall peace of mind during your trip.
Make Sure You Answer The Medical Questionnaire Correctly
If youre 60 years or older, youll likely need to complete a Medical Questionnaire to buy travel insurance. With TuGo, our Medical Questionnaire has 5 simple, straightforward questions that will determine your premium, and not whether or not youre eligible for coverage. For more details, read TuGos Traveller Medical Questionnaire: FAQs for Senior Travellers.
What happens if you dont answer the Medical Questionnaire correctly?
If you make an unintentional mistake, TuGo will apply a $15,000 USD deductible to your claim, so you dont get stuck with the entire medical bill. No question, the deductible is not cheap but considering how expensive medical treatment can be outside of Canada, Id still call it a bargain, especially if you have complicated health issues. Youll need to correct your answers to the MQ, and, if applicable, pay additional premium. Not many insurance companies are this forgiving some will void coverage if the MQ is not answered correctly. So regardless of which insurance provider you decide to go with, reading and understanding your policy is a must.
Latest News On Travel Insurance
- If youre ready to plan your next trip, we have an article on important travel insurance tips for a post-pandemic world.
- Labor shortages and flight cancellations have made for a very chaotic travel season. If you have upcoming travel plans, make sure you know how to get a refund if you were to need one.
- Read our article on how to nab the best post-pandemic cheap travel deals, which includes advice on how to avoid scams and other great travel hacks.
- And for the frequent travelers out there, our list of the best travel credit cards gives you an overview of six of the best travel rewards on the market, along with advice on how to maximize your rewards.
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Best Travel Insurance For Seniors 2022
Senior citizens may need more comprehensive travel insurance to cover their medical needs while overseas. However, many insurers tend to severely cut their medical coverage for seniors above the age of 70. To help elderly travellers, our team of travel insurance experts rounded up the best travel insurance plans for seniors after analysing hundreds of data points from 80 travel insurance plans.
*Please read the important travel updates regarding COVID-19 here.
Summary of Our Best Travel Insurance Plans for Seniors
- FWD Premium: Comprehensive medical coverage for competitive premiums
- Etiqa Basic: Modest medical coverage but offers ongoing promotions that make premiums very affordable
- HL Assurance Enhanced: Costlier than FWD and Etiqa but offers higher medical coverage
- Direct Asia 500: Affordable premium option
- Income Classic: Good option for travellers looking for medical coverage
- Aviva Plus: Offers flexible cancellation policies and good medical coverage
- Allianz Travel Silver: High value for money option for those looking for travel inconvenience benefits
- Aviva Plus: Doesn’t cut coverage for seniors over a certain age
- Income Superior Pre-Ex: Lets you claim for pre-existing conditions
- Allianz Gold: Offers highest trip inconvenience coverage on the market
- Aviva Prestige/Plus: Great options if you want to be able to cancel your trip for any reason
Many Destinations Require You To Have Travel Insurance To Enter
Another important reason to get a travel insurance policy is that you are required to have one to be let into the country, no matter how old you are.
Some of the countries that have this requirement include Germany, Belgium, Spain, France, Greece, Hungary, Iceland, Cuba, Venezuela, Australia, and Switzerland.
Its worth pointing out that many of the countries that I mentioned above are part of the Schengen zone, an agreement between various European countries that include particular immigration rules, including obligatory travel insurance.
Just keep in mind that the minimum insurance coverage to enter in the Schengen zone is 30,00 Euros, which is quite low for a policy.
But regardless of whether or not travel insurance is a requirement to enter the country youre traveling to, getting a policy is always a good idea.
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How To Get The Best Travel Insurance For Seniors
When looking for travel insurance for seniors, it is important to consider what type of coverage you need. Some seniors may only need basic medical coverage, while others may need more comprehensive coverage that includes emergency evacuation and trip cancellation.
Here are a few tips to get the best travel insurance for seniors:
1. Compare plans and prices from multiple insurers.
2. Make sure the plan covers pre-existing medical conditions.
3. Choose a plan with comprehensive coverage and a high medical limit.
4. Read the policy carefully to understand what is covered and what is not.
5. Ask about discounts for seniors.
6. Make sure the insurer has a good reputation and is financially stable.
How We Chose The Best Travel Insurance Companies
We used the following factors to evaluate and compare each company:
- Plans and coverage: We looked for insurers with a variety of plans and the ability to customize the policy with upgrades. Special consideration was given to companies offering unique add-ons, such as extreme sports coverage and coverage for lost gear or equipment.
- Ease of use: We considered how easily you could request a quote and understand the policy information. Most of these companies either offer just a few plans to keep things simple or provide a comparison page where you can quickly spot the differences in each plan.
- Customer service and support: Factors like a 24/7 hotline and an established network of global resources to help in case of an emergency are some of the elements that indicate a company is well-prepared to respond to customer needs. Companies with mobile apps and multiple ways of accessing customer support also earned points, as did those with added perks like concierge and translation services.
- Reputation: To gauge each companys reputation, we evaluated factors like customer feedback and ratings, years in business and financial stability as shown by their ratings on major credit rating agencies, specifically AM Best.
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Why Seniors Should Buy Travel Insurance
Whether youre going on a European cruise to celebrate your retirement, visiting a childhood friend in another country, or heading off on a family vacation, you should consider getting travel insurance. While travel insurance offers all travelers peace of mind, its particularly important for seniors whose domestic medical insurance plan generally will not cover any unexpected healthcare costs when traveling abroad.
The U.S. Department of State recommends that everyone purchase insurance before overseas travel. The international travel section of its website points out that Medicaid and Medicare dont generally cover medical costs overseas, although some Medigap and Medicare Advantage plans do. Even if you have private insurance, your policy might not cover any medical care that you receive in another country.
Travel insurance can offer additional benefits as well. Depending on the policy, other things that might be covered include trip interruption or cancellation, lost or stolen luggage, rental car damage, or even legal assistance. For these reasons, travel insurance can be helpful even if you are traveling within the United States.
Travel Insurance A Necessity For Senior Travelers To The Us
The United States of America the quintessential land of immigrants and has been welcoming immigrants to the country since the founding days of the nation. As a result of this history of immigration, the US also receives millions of shorter terms visitors to the country who are parents, friends and family of these immigrants. While the early immigrants were from Western Europe like the UK, Germany, Netherlands and France, over time immigration was from southern European counties like Italy and Greece. Since 1965, when president Lyndon B Johnson opened immigration to Non Europeans, immigration has increased significantly Mexico, central and South America as well as from Asia. In Asia, the South Asian countries of India, Pakistan Bangladesh and Sri Lanka, and the east Asian countries of China, Vietnam and Philippines constitute a large number of new immigrants to the USA.
As opposed to many other developed economies like Canada, the UK and northern European countries, the US health care system is not government managed, is very expensive and intricately linked to having insurance coverage. Given this healthcare infrastructure, most US residents health insurance and get their insurance from their employers. Older US citizens who are pensioners get covered by the Government backed Medicare system.
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Whats Not Covered By Travel Insurance
No matter which policy you choose, it wont cover every situation that might arise. Exclusions typically include things like medical treatment for a pre-existing condition, injuries from participating in extreme sports, accidents that happen when you are drunk or under the influence of drugs, incidents that occur while you are participating in an illegal activity, and cancellations due to war or international conflicts. Some of these possible situations can be covered by purchasing a waiver or extended coverage for an additional cost. Read your policy carefully before making your final decision.
Best Travel Insurance Frequently Asked Questions
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The cost for travel medical insurance varies from provider to provider. On average, it can cost about $100 to $200 for large coverage amounts, depending on the provider and plan you choose.
Amie Clark
Amie has been writing about senior care products and services for the last decade. She is particularly passionate about new technologies that help improve the quality of life for seniors and their families. Seeing her parents and grandparents age made Amie ask herself, Would this be good enough for my loved ones? In her spare time, Amie enjoys outdoor adventures and spontaneous road trips. Learn more about Amie here
Information
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Common Terms For Older Traveler Insurance
Deductible is an amount to be paid by the insured for the medical treatment before the actual insurance starts to pay the healthcare services. This is in addition to the co-pay or coinsurance. The insured will need to pay medical fees up to the deductible amount. Therefore the lower the deductible in an insurance plan, the higher is the premium or cost of the insurance plan. The concept of deductible is used by insurance providers to prevent frivolous use of insurance since the customer is liable for the initial payment and will hence use the travel insurance plan judiciously
Co-pay or Copayment is the fixed amount that the insured will have to pay for the medical service availed. The amounts would usually differ depending on the service availed. The Co-pay and deductible will vary depending on the travel insurance plan chosen and travelers do have the option of No Co-pay and $0 deductible, however this will be more expensive that travel insurance with higher deductible.
Coinsurance is percentage of the total cost of the medical fee to be paid by the insured instead of paying a fixed amount. If the coinsurance is 10% on the travel insurance then the insured will have to pay 10% of the total cost of the bill. The Co-insurance is in addition to the deductible. The Co-insurance in travel insurance is typically capped 10% or 20% up to a certain amount of the medical bill and the insurance pays fully after that amount.
Do I Need To Buy Travel Insurance For Every Trip
Not necessarily. Youll need to decide for yourself if the price of the policy is worth the peace of mind it will give you. If youre taking an international flight that cost thousands of dollars or staying at an expensive resort, the cost of travel insurance is quite reasonable compared to the financial loss you would suffer if you had to cancel your trip. On the other hand, it probably doesnt make sense to buy travel insurance for a short trip on a budget airline.
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Benefits Of Choosing Seniors Travel Insurance
Pre-existing medical condition cover
Even with certain pre-existing medical conditions, you may still be eligible for cover for selected benefits under a Comprehensive, Multi-Trip or Domestic travel insurance plan. Just use the Seniors Travel Insurance online medical assessment and get an instant answer.
Proud Allianz Global Assistance partner
To make sure you have all the support and care you need while travelling, Australian Seniors has partnered with emergency medical assistance provider, Allianz Global Assistance. Allianz Global Assistance is part of the Allianz group, which is owned by Allianz SE.
Simple claims process
Our online portal makes claiming simple and gives you the flexibility to make a claim at your convenience. You can also choose to lodge a claim while youre still travelling or wait until after youve returned home.
24/7 emergency assistance
Ensure You Have The Best Benefits And Features Available
You may be thinking, I have a great credit card that covers me for my travels. But have you read the fine print? , especially when you look at emergency and claims assistance, pre-existing medical conditions, benefit limits and more.
With TuGo, our Emergency Medical Insurance covers all ages. Our travel medical insurance provides coverage for hospitalization and treatment for medical emergencies, including COVID-19.
Other important benefits to ensure youre covered are:
- Ambulance services
- Return of your travel companion
- Air travel delay expenses, including MyFlyt
- TuGo Telemedicine, when youre visiting the US
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Aig Travel Guard A Good Basic Travel Insurance For Seniors
AIG Travel Guards Essential plan is perfect for any retiree looking for reliable travel insurance for seniors over 65. This plan not only provides a decent amount of coverage in all categories, but it also features a $0 deductible for medical expenses.
Moreover, the Essential plan includes COVID-19, pre-existing conditions, and cruise coverage. Best of all, travelers of any age can purchase this plan, since customers aged 100 and over are covered.
Even with all of these benefits, you can, in fact, get senior travel insurance with a higher amount of coverage for a more affordable price with Trawick. As such, I would only recommend purchasing travel insurance for seniors from AIG if you are over the age of 100 since Trawick only covers customers up to age 100.
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Plan For Medical Evacuation Coverage
If you require an emergency airlift back to the United States, it could easily cost $100,000 or more for private, emergency transport. Emergency medical evacuation insurance pays to move you to a medical facility with appropriate and necessary care if the facility where you are located is unable to provide the level of care needed for your medical condition, says Murchland.
You can find travel insurance plans with up to $1 million in coverage for emergency medical evacuation.
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Are There Location Restrictions When It Comes To Travel Insurance
Its important to note that your travel insurance policy might not cover your visits to certain locations. In fact, most U.S. insurance providers will not cover locations that are currently under a State Department travel advisory or where there is political unrest. Among the countries usually excluded by providers are Russia, Ukraine, Belarus, Iran, Syria, North Korea, Myanmar and Cuba.
What Are The Benefits Of Travel Insurance For Seniors
Some benefits of travel insurance for seniors include:
1. Coverage for pre-existing medical conditions:
Many seniors have pre-existing medical conditions that may not be covered by their regular health insurance. Travel insurance can provide coverage for these conditions so that seniors can travel without worry.
2. Coverage for unexpected medical expenses:
Seniors are more likely to experience a medical emergency while traveling than younger people. Travel insurance can help cover the costs of unexpected medical care so that seniors can focus on enjoying their trip.
3. Evacuation coverage:
If a senior becomes sick or injured while traveling, travel insurance can cover the cost of evacuating them to a medical facility. This can be especially important if the senior is traveling to a remote or dangerous location.
4. Lost baggage coverage:
Travel insurance can reimburse seniors for the cost of lost or damaged baggage. This can be helpful if a senior is traveling with expensive items, or if they need to replace essential items such as medication.
5. Trip cancellation coverage:
If a senior needs to cancel their trip due to illness or another emergency, travel insurance can reimburse them for the cost of their ticket. This can be helpful if a senior has non-refundable travel expenses.
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Whats The Most Important Insurance Coverage For Senior Travelers
Seniors should put priority on the medical coverage within a travel insurance policyspecifically travel medical insurance and emergency medical evacuation coverage. This is especially important if youre traveling outside the U.S., where Medicare will work only in very limited situations.
Look for high maximum limits for these two coverage types. For example, you can find plans that offer $500,000 for medical expenses and $1 million for emergency medical evacuation.