Travel insurance for seniors: Frequently asked questions

When I was a young backpacker, I didn’t think much about travel insurance: I browsed a few plans, bought one and was off. In fact, I probably didn’t even need it, right?

You’re wrong.

Most of my travels over the past 17 years have been smooth sailing, but there have undoubtedly been plenty of hiccups, including missed flights, damaged equipment, and serious medical emergencies.

That’s why I never leave home these days without travel insurance – not only does it give me peace of mind (for both me and my loved ones), but it also covers me if the unexpected happens.

Naturally, I get a lot of questions about travel insurance, which is a complex subject (and, let’s be honest, a boring subject that most people don’t want to look into).

It gets especially complicated when older travelers are looking for coverage. Every week, I get emails from travelers in their 60s, 70s and older asking for my opinion on their insurance options. This isn’t just because insurance is complicated (although it is), it’s because prices often skyrocket once you turn 65, and many insurers don’t cover travelers over 70.

So, to help you plan for travel in retirement, here are some of the most common questions I get asked about travel insurance for senior travelers.

1. What does travel insurance for senior travelers cover?

While policies vary, a good plan will include the following:

Medical coverage of at least $100,000 ($250,000 is better) Emergency evacuation coverage (at least $250,000) Coverage for loss, damage, or theft of your possessions, such as jewelry, baggage, and documents Coverage for your electronic devices Coverage for the cancellation of hotel, flight, and other transportation reservations in the event of a sudden illness, death in the family, or other emergency Coverage for political emergencies and natural disasters that may require you to return home early Financial protection if the company you use goes bankrupt 24/7 customer support

This means you need insurance that covers medical emergencies, your possessions and purchases, and provides 24/7 support.

The most basic plans generally cover medical emergencies but not your booking or belongings, which might be fine if you’re a very frugal young traveler in your 20s.

Personally, as I’m getting older and travelling more with more valuables (and sometimes booking nicer accommodation), I’d like to be covered for my possessions and bookings too. For me, safety first!

2. What is the age limit for travel insurance for senior travelers?

Unfortunately, travel insurance companies usually have an age limit for their policies: most are between 65 and 69 years old, but some also offer policies for people between 70 and 75 years old.

For example, my personal go-to travel insurance company, SafetyWing, has an upper age limit for their plans of 69. Another popular insurer I’ve used for decades, World Nomads, has an upper age limit of 70.

As a result, premiums skyrocket once you turn 65. Older travelers often have more health problems than younger travelers, and because travel insurance is a for-profit industry, older travelers pay more. I know this isn’t fair, since many older travelers are in perfect health, but it’s something to keep in mind when comparing plans.

3. How much is travel insurance for senior travelers?

There’s no “one size fits all” answer, as prices vary by age, destination, and where you live, but travelers over 60 should be prepared to pay at least $125 per month for a very basic plan.

If you want more comprehensive medical coverage and “cancel for any reason” coverage, the price can jump to more than $400 a month.

4. I want to go on a cruise, which travel insurance company is best?

If cruises are your primary travel style, these three companies are worth checking out:

Travel Guard – Travel Guard has specific cruise insurance policies that are easier to find than looking for add-ons to other policies that aren’t cruise-centric. They cover emergency travel assistance, trip interruption, delays, and cancellations.

VisitorsCoverage – VisitorsCoverage is an insurance marketplace with a specific cruise section where you can compare different plans, including IMG’s popular SafeCruise plan. This plan is designed for cruise travelers and includes everything you need, including the added option for “cancel for any reason” coverage.

InsureMyTrip – InsureMyTrip is another insurance marketplace with a section dedicated to cruises. Enter your dates, destination, and trip costs, and you’ll see a variety of plans with prices and coverage listed in an easy-to-compare format.

5. Two great companies for senior travelers

Senior travelers have different needs when it comes to travel insurance, so it’s important to find a company that covers those needs. The best travel insurance companies for senior travelers are:

Insure My Trip
InsureMyTrip is an insurance aggregator that allows you to compare policies from over 20 insurers. It’s a great place for older travelers to get quotes. You can search for policies that cover your age group, and they also offer “cancel for any reason” plans (an important perk for older travelers with health concerns, or who have booked an expensive trip and don’t want to risk losing their money).

Additionally, IMT also offers insurance to cover certain pre-existing conditions (which is a huge benefit and something most other companies don’t offer).

Here is a summary of IMT:

Compare over 20 plans Low prices guaranteed Covers travelers over 65 years old “Anytime advocates” ask insurers to reconsider claims if they believe a claim has been unfairly denied. Learn more here.

Megett
Medjet is not an insurance company, but a membership program that provides comprehensive emergency medical transport services. Membership gives you 24/7 access to hundreds of air ambulances and specialized medical transport escorts and staff around the world.

Why do I think this is a must-have for older travelers?

Firstly, while most insurance companies make sure you go to the “nearest appropriate facility” after you’re injured, Medjet guarantees you’ll be sent home, meaning you’ll be seen by your doctor right away, without having to spend time in a medical facility overseas.

Secondly, most travel insurance companies will only evacuate you if the government says it’s unsafe, in the event of chaos or a natural disaster. If the government doesn’t declare an emergency, the travel insurance company isn’t required to evacuate you, so you’ll be paying out of pocket if you feel unsafe.

That’s not the case with Medjet – if they feel an evacuation is necessary, they’ll make arrangements to get you home safely.

Finally, it has a high age limit (coverage up to 84 years), which is unusual in the travel insurance industry.

Here’s a quick rundown of Medjet:

Comprehensive medical transportation coverage Standard coverage up to age 74 (extended coverage up to age 84) COVID-19 coverage Limits length of stay in overseas medical facilities Both short-term and annual plans Available to residents of the US, Canada and Mexico Learn more! ***

I never leave home without travel insurance. It’s a lesson I learned the hard way, and it’s been ingrained in my mind more and more as I get older. I believe everyone, regardless of age, should purchase travel insurance before traveling. But older travelers especially need to be sure they have the coverage they need in case something goes wrong. While insurance options are more expensive (and sometimes less robust), there are plenty of affordable plans out there that will ensure you’re protected while you enjoy traveling in your golden years.