Yes, a 70-year-old can get travel insurance
Many people incorrectly assume that travel insurance becomes inaccessible after a certain age. The reality is that if you are healthy enough to travel, you can generally find a policy. While premiums increase with age, travel insurance marketplaces and specialized providers offer numerous options tailored to the needs of older travelers. Many companies offer plans with features addressing concerns such as pre-existing medical conditions and medical evacuation costs.
Factors affecting the cost and availability of senior travel insurance
Several factors influence the premium for travel insurance for a 70-year-old:
- Age: This significantly impacts the cost, as the risk of a medical event increases with age, leading to higher premiums.
- Health and pre-existing conditions: Standard policies often exclude pre-existing conditions. Many companies offer a waiver for an extra cost, typically requiring policy purchase soon after your initial trip deposit.
- Destination: Healthcare costs at your destination influence premiums. High-cost countries like the United States can increase the price.
- Trip duration and cost: Longer trips and more expensive non-refundable costs result in higher premiums.
- Coverage limits and deductibles: The level of medical coverage and your chosen deductible also affect the final price.
Comparing different types of travel insurance for seniors
When looking for a travel insurance policy, consider these plan types:
| Feature | Comprehensive Plan | Travel Medical Plan | Annual Multi-Trip Plan |
|---|---|---|---|
| Coverage | Trip cancellation, interruption, medical emergencies, medical evacuation, and lost luggage. | Primarily covers medical expenses and evacuation for incidents occurring abroad. | Covers multiple trips within a 12-month period, often with limitations on individual trip duration. |
| Best for | Most travelers seeking robust protection for a single, significant trip, especially with high upfront costs. | Individuals concerned primarily with emergency medical coverage while traveling, potentially forgoing cancellation benefits for a lower premium. | Frequent travelers, such as retirees or "snowbirds," who take several shorter trips per year. |
| Cost | Generally the most expensive option, as it covers the most possibilities. | Less expensive than comprehensive plans due to fewer covered benefits. | Often more cost-effective than buying multiple single-trip policies if you travel frequently. |
Important coverage for senior travelers
Certain coverage types are particularly important for senior travelers due to increased risks. Look for strong benefits in these areas:
- Emergency medical coverage: Medicare offers minimal coverage for international travel. Experts recommend at least $100,000 in emergency medical coverage.
- Emergency medical evacuation: The cost of evacuation can be very high, making robust coverage essential. Aim for at least $250,000.
- Pre-existing condition waiver: Necessary for coverage related to chronic health issues. Typically requires purchasing insurance soon after your initial trip payment.
- Trip interruption and cancellation: Covers non-refundable costs if unexpected health issues cause trip cancellation or interruption.
- 24/7 travel assistance: Provides peace of mind and help during medical emergencies abroad.
How to find the right policy
- Use comparison websites: Sites like Squaremouth, InsureMyTrip, and TravelInsurance.com let you compare quotes and options from various providers.
- Shop early: Purchase your policy soon after your first trip deposit for the best rates and eligibility for a pre-existing condition waiver.
- Read policy documents carefully: Review exclusions, age limits, and pre-existing condition waiver details.
- Consider annual versus single-trip plans: An annual plan may be better for frequent travelers, while a comprehensive single-trip plan might suit a single, expensive vacation with higher coverage needs.
Conclusion
Travel insurance is available and recommended for 70-year-olds. While requiring careful consideration due to age and health factors, many reputable companies offer suitable policies. By comparing options early, prioritizing high medical and evacuation coverage, and understanding pre-existing condition coverage, seniors can find a plan that protects their health and trip investment. Being proactive and informed is key for secure travels.
