Travel Insurance Options for Senior Citizens
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Travel can become a vital part of a senior citizen's life for those with the mental, mobile, and monetary means to embark on a new journey. Few things are as rewarding as experiencing a new culture, socializing with like-minded travelers, and navigating the unknown while abroad.
Unfortunately, travel plans can unravel due to unforeseen circumstances. We are all familiar with common issues like cancelled flights, lost baggage, natural disasters, and missed connections—any of which can significantly impact your trip.
Let’s look at some additional unique challenges senior citizens face while travelling abroad.
Why is travel insurance important to senior citizens?
Travel insurance can provide coverage for non-refundable trip costs, medical costs, and personal items, while also providing invaluable services related to travel, medical, concierge, and identity theft.
Not surprisingly, seniors often consider medical related coverage and services as the most important coverage options. These may include:
Medical emergencies
AD&D
In addition to medical coverages, seniors can obtain coverage for:
Trip cancellation
Trip interruption
Missed connections
Lost luggage
These options provide added flexibility and security:
Cancel for interruption
Cancel for work
Do Senior Citizens Have Unique Travel Needs?
YES
Let’s look at some of the challenges faced by senior citizens.
①
Health and Medical
Seniors often need to accommodate their health needs when making travel plans. This can include packing prescription medications, obtaining a pre-existing condition travel insurance waiver, maintaining a list of emergency medical contacts, and ensuring access to medical care.
②
Mobility and Accessibility
Mobility and accessibility challenges can impact every aspect of a trip including:
Transportation
Accommodation
Communication barriers
Lack of accessible information
Discrimination
These challenges can be overcome by working with a travel agent, conducting proactive research, and contacting all service providers directly to confirm their ability to accommodate mobility and accessibility needs.
③
Dietary Restrictions
Packing and planning for special dietary needs can be challenging, whether you're traveling from one place to another or navigating the diverse cuisine of a foreign country. It is common to require adherence one or more of the following diets:
Diabetic
Low fat
Low sodium
Gluten free
Lactose free
Proactive steps like researching restaurants, embracing mobile apps, and communicating any unique needs to a travel agent can help maintain health and enjoyment during the trip.
④
Financial / Budget
Seniors often live on a fixed budget with limited ability to accommodate significant financial fluctuations. We highly recommend that everyone maintains a comprehensive budget and a separate detailed travel budget.
At a minimum, the travel budget should include the costs of airport transfers, flights, trains, ridesharing, checked baggage, tips, accommodation, restaurants, food, attractions, souvenirs, and travel insurance. Be sure to include a cushion for emergencies and factor in the impact of foreign exchange rates.
Always look for senior discounts and consider traveling during the off-season to stay within your budget.
⑤
Safety and Security
Seniors may prioritize destinations and itineraries that minimize risk related to things like:
Healthcare access
Crime rates
Political unrest
Unreliable transportation systems
⑥
Travel Insurance
We consider travel insurance essential for every traveler. If you can't afford travel insurance, you should reconsider whether you can afford the trip. The potential costs of medical emergencies can be astronomical and could lead to personal bankruptcy in extreme cases.
Let’s look at how travel insurance can mitigate these financial risks while providing additional services to ensure a memorable stress-free trip.
Which travel insurance features should seniors consider?
The travel insurance industry is highly competitive, offering a wide array of choices for consumers. Comprehensive policies are available in different tiers, along with standalone medical or travel plans, often with various optional upgrades. These features are typically combined with robust service offerings.
Let’s look at some of the key features seniors should consider.
①
Pre-existing Conditions
Pre-existing conditions are not covered by standard travel insurance policies. Coverage can be obtained if a waiver of pre-existing medical conditions is purchased in conjunction with the main policy.
Read the policy details carefully as such waiver will need to be purchased within a certain period from the initial policy date.
②
Medical Evacuation
Medical emergencies in remote destinations or where medical services are lacking may require this type of coverage to ensure transportation to the nearest adequate medical facility.
Emergency medical evacuation may include air ambulance or repatriation to your home country, if necessary.
③
Trip Cancellation & Interruption
This covers prepaid non-refundable expenses that are forfeited if a trip is cancelled or interrupted trip. Unforeseen events can trigger a claim including things like illness, injury, natural disaster, or other significant emergencies.
It ensures reimbursement for pre-paid travel costs.
④
Lost / Delayed Baggage
This coverage can provide reimbursement for personal items lost, stolen, or delayed in transit. Read the policy carefully as there is usually an overall item and a per item limit. Expensive mobility devices or medical equipment may exceed the per limit threshold.
⑤
24/7 Multilingual Assistance Services
Travel insurance companies provide an array of services that complement the insurance policy. These services may include:
Medical
Travel
Concierge
Identity theft
Access to these services can be utilized throughout your trip and prove to be a lifeline when trying to deal with a crisis in a foreign country.
⑥
Delays & Missed Connections
This benefit covers additional expenses related to a significant travel delay or missed connection. Each policy will have its own time specific delay thresholds before coverage kicks in.
Coverage can include things like meals, accommodation, and transportation.
⑦
Cancel or Any Reason
Some travelers want more freedom than what is provided by the trip cancellation and interruption coverage described above.
Cancel for any reason INSERT LINK coverage provides maximum flexibility and allows cancellation for reasons like:
Change of mind
Personal preferences
Personal reasons
Family issues
Financial hardship
Feeling unsafe
Change in weather
and more
This coverage comes with a premium price and typically provides coverage for 50-75% of the non-refundable trip costs.
FINAL THOUGHTS
By considering these unique challenges and the importance of travel insurance, senior travelers can embark on their journeys with greater confidence and security.
Wishing you safe and memorable travels!
