Jane Dotson
When it comes to travel insurance for seniors, there are a few key considerations to keep in mind. Firstly, travel insurance for older individuals can be more expensive, with rates for seniors being higher due to insurance companies viewing them as higher risk. Additionally, certain companies implement age limits on who they will approve for coverage. It is also important to consider the specific needs that may arise with age, such as coverage for pre-existing medical conditions and high coverage limits for medical emergencies and evacuation. Other optional add-ons to consider include trip cancellation or interruption coverage, baggage protection, and rental car coverage. When choosing a travel insurance plan, it is essential to review the coverage limits, exclusions, and customization options to ensure they align with your requirements.
| Characteristics | Values |
|---|---|
| Company | Seven Corners, PrimeCover, Travel Insured International, Allianz, Faye, Nationwide, Travelex, GoReady by Aegis, Trawick International, GlobeHopper Senior Travel Medical Insurance |
| Coverage | High limits for emergency medical and evacuation coverage, trip cancellation, pre-existing conditions, trip interruption, baggage protection, accidental death and dismemberment, sports equipment rental, event ticket coverage, rental car coverage, pet kennel benefit, change fee compensation |
| Customer Service | 24/7 assistance, multilingual, responsive, assistance with filing claims |
| Add-ons | Cancel For Any Reason, Interruption for Any Reason, protection for rental cars, sports equipment and event tickets |
| Cost | A standard travel insurance policy costs between 4% and 10% of the total non-refundable trip costs. A Cancel For Any Reason policy can increase the cost by 40% to 50%. |
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What You'll Learn
Comprehensive trip protection plans
- High coverage limits for medical emergencies and evacuation. This is especially important for seniors, who may be more likely to require medical care while travelling.
- Coverage for pre-existing medical conditions. Many travel insurance companies exclude pre-existing conditions from their coverage, so it's important to find a plan that specifically includes this.
- Trip cancellation and interruption coverage. This can provide reimbursement if you need to cancel or interrupt your trip due to a covered reason, such as a medical emergency.
- Lost or delayed luggage coverage. This can provide reimbursement for lost or delayed luggage, which can be crucial for seniors who may rely on certain medications or medical devices.
- 24/7 customer service. Having access to assistance at any time of day can be invaluable when facing travel disruptions or medical emergencies.
When considering a comprehensive trip protection plan, it's important to keep in mind that the cost of these plans can be significantly higher than basic travel insurance. Additionally, some plans may have age restrictions, so it's important to review the fine print carefully.
Some highly-rated comprehensive trip protection plans for seniors include:
- Seven Corners' Trip Protection Choice Plan: This plan offers high coverage limits for trip cancellation, travel accidents, and emergency medical and evacuation coverage. It also includes optional add-on coverage for rental cars, sports equipment, and event tickets.
- John Hancock's Silver and Gold Plans: These plans offer comprehensive coverage, including trip cancellation, trip delay, and emergency medical coverage. The Gold Plan provides higher coverage limits for medical expenses and evacuation.
- Allianz Travel Insurance: Allianz offers affordable and comprehensive coverage for medical emergencies, trip delays, cancellations, baggage issues, and more. Their plans also include coverage for rental cars and medical evacuation.
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Medical coverage
Seniors should opt for travel insurance policies with high medical evacuation benefits and high limits for travel medical insurance. While $250,000 per person in medical expense coverage is considered excellent, some companies offer up to $500,000. Evacuation coverage is also vital, with recommended coverage of at least $500,000 per person.
When it comes to medical coverage, Seven Corners stands out for its comprehensive benefits. Their Trip Protection Choice plan, also known as Trip Protection Elite, offers high coverage limits for emergency medical situations and evacuation. Additionally, they provide coverage for pre-existing conditions if specific criteria are met, including purchasing the plan within a specified timeframe and having a doctor's assessment deeming you medically fit to travel.
Other notable mentions for medical coverage include PrimeCover, which received a five-star rating, and Nationwide, which offers cruise travel insurance plans with medical coverage and cruise-exclusive benefits such as missed connection coverage and prepaid excursion reimbursement.
When selecting a travel insurance plan, it is important to consider your specific needs, including the type of trip, your health, age, and budget. While medical coverage is a key component, other factors such as trip cancellation, baggage protection, and customer service should also be weighed when making your decision.
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Pre-existing conditions
Seven Corners, which offers single-trip, annual and student plans, is a good option for seniors. Its Trip Protection Choice Plan includes coverage for pre-existing conditions, but you must meet certain criteria. You must purchase the plan within 20 days of the initial trip deposit, be medically cleared to travel when you pay for the plan (based on a doctor's assessment), and update all coverage to include the added cost of various travel activities and arrangements within 15 days of paying the vendor.
PrimeCover is another excellent choice for seniors, offering comprehensive coverage for pre-existing conditions. It received five out of five stars in a Forbes Advisor analysis of 26 policies. Forbes recommends policies with a minimum of $250,000 per person in medical coverage and $500,000 per person in medical evacuation benefits.
Other companies that offer travel insurance for seniors with pre-existing conditions include Travel Insured International, Allianz, Faye, Nationwide, Travelex, and GoReady by Aegis. These companies provide affordable and dependable coverage, but it's important to review their specific policies and exclusions regarding pre-existing conditions.
Additionally, consider the time sensitivity of pre-existing condition waivers. Buying travel insurance early can extend the validity of your policy and increase your chances of obtaining a waiver for pre-existing conditions.
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Trip cancellation
A standard travel insurance policy typically costs between 4% and 10% of the total non-refundable trip cost. A "Cancel for Any Reason" add-on can increase the cost of a policy by 40% to 50%. For example, a 65-year-old traveller going on a one-week $3,000 excursion to the UK with $250,000 of medical coverage and $1 million in evacuation coverage would pay around $220 for insurance, or 7.3% of the total non-refundable trip costs. The same coverage for a 30-year-old traveller would cost $133, or about 4.4% of non-refundable trip costs.
When considering trip cancellation coverage, it's important to read the fine print and understand the specific terms and conditions of the policy. Some policies may only offer a fixed amount of reimbursement for trip cancellations, while others may provide a percentage of what you've paid. It's also worth noting that some annual multi-trip travel insurance plans do not include trip cancellation coverage, although some may offer it as an optional extra for a fee.
When shopping for trip cancellation coverage, it's a good idea to look for policies that offer comprehensive coverage, high coverage limits, and specialized coverage options. For example, some policies may include coverage for pre-existing conditions, rental car damage, accidental death and dismemberment, sports equipment rental, and event tickets. It's also important to consider the issue age limits of the policy, as some plans may have lower age caps for older travellers.
Some recommended travel insurance providers for seniors that offer trip cancellation coverage include:
- Seven Corners: Offers single-trip, annual, and student plans with optional "Cancel for Any Reason" and "Interruption for Any Reason" (IFAR) coverage. Reimburses up to 75% of non-refundable trip costs if purchased within 21 days of booking.
- WorldTrips: Offers a variety of plans, including medical-specific, group, and cruise travel insurance, as well as single-trip and annual travel insurance. The Atlas Journey Elevate plan includes high coverage limits for trip cancellation and allows travellers to purchase a "Cancel for Any Reason" rider for 50% or 75% reimbursement.
- IMG: Offers plans with trip cancellation or interruption coverage and extensive medical benefits for seniors, especially those with pre-existing conditions. The iTravelInsured Choice plan provides $100,000 in Emergency Medical coverage and $500,000 in Medical Evacuation coverage, with no age limits.
- Tin Leg – Luxury: Provides comprehensive coverage, including $100,000 in Emergency Medical and $250,000 in Medical Evacuation coverage, at a lower price than many top-tier plans. Offers 100% reimbursement for covered cancellations and 150% Trip Interruption coverage.
- John Hancock: Offers three straightforward plans with trip cancellation coverage, trip delay coverage, and emergency accident and sickness medical coverage. Plans purchased within 14 days of booking offer the best coverage options.
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Medical evacuation
When choosing a travel insurance plan with medical evacuation benefits, it is important to consider the coverage amount. The maximum coverage amount varies by policy, with some plans offering up to $1 million per person for medical evacuation. It is recommended to opt for a higher coverage amount to ensure you are adequately protected in case of an emergency. Additionally, some plans may also cover the cost of changing your flight or booking new travel arrangements if you need to return home for treatment.
For seniors, it is crucial to select a travel insurance plan that meets their specific needs. Some key considerations include coverage for pre-existing medical conditions, high coverage limits for medical emergencies and evacuation, and responsive customer service. Seniors should also look for plans that offer add-ons such as "Cancel for Any Reason" coverage and protection for rental cars, sports equipment, and event tickets.
When reviewing travel insurance plans, it is important to read the fine print and understand the exact terms of the medical evacuation coverage. This includes clarifying what constitutes an adequate" treatment center and whether the policy covers transportation back to your home country for treatment. By carefully reviewing the policy details, you can ensure that you have the necessary coverage in case of a medical emergency during your travels.
Some recommended travel insurance providers for seniors include Seven Corners, Travel Insured International, Allianz, Faye, Nationwide, Travelex, and GoReady by Aegis. These companies offer comprehensive coverage, including medical evacuation benefits, and have been recognized by reputable sources for their dependability and affordability. When choosing a plan, it is essential to consider your specific needs, budget, and the type of trip you are taking to make an informed decision.
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Frequently asked questions
There are several companies that offer good medical travel insurance for seniors. Forbes and NerdWallet have rated PrimeCover and Seven Corners as the best travel insurance for seniors. Other good options include Travel Insured International, Allianz, Faye, Nationwide, Travelex, and GoReady by Aegis.
Seniors should look for high medical evacuation benefits and high limits for travel medical insurance. The best policies have at least $250,000 per person for medical expenses, although some competitors provide up to $500,000. Seniors should also consider their coverage for pre-existing conditions, trip cancellation, and interruption, as well as lost or delayed luggage.
The cost of travel insurance for seniors can vary depending on the company and the level of coverage. A standard travel insurance policy typically costs between 4% and 10% of your total non-refundable trip costs. For seniors, rates tend to be higher, with a 65-year-old traveller paying around 7.3% of their total non-refundable trip costs for a one-week trip to the UK with $250,000 of medical coverage and $1 million in evacuation coverage.
When choosing a travel insurance plan for seniors, it is important to consider your specific needs and the type of trip you are taking. Consider factors such as your health, age, budget, trip duration, and destination. Compare different companies and plans to find one that offers comprehensive coverage, including medical expenses, trip cancellation, interruption, and baggage protection, at a price that fits your budget.
