Travelling in old age involves uncertainties and demands responsibility. Everything needs to be ensured, from medical needs to comfortable check-ins. If you are a senior citizen or plan to travel with them, getting international travel insurance to protect and enhance your trip experience is recommended.
However, insurers often charge higher premiums than normal because of the uncertainties related to older travellers. This is not unwarranted; there are reasons behind it, and understanding them is crucial before buying insurance.
Reasons for Expensive Travel Insurance for Senior Citizens
Age of Individuals
The age factor is crucial in determining the cost of travel insurance for seniors. Most insurers provide travel insurance for people between the ages of 18 and 60, as they face fewer health-related risks.
However, people above the age of 60 years are prone to getting ill easily or are already suffering from pre-existing diseases. Thus, to provide them with the necessary medical care and emergency assistance during their trip, insurance companies curate specialised plans and charge higher premiums.
Decreased Daily Performance
In old age, routine tasks become difficult due to weak bones, eyesight and hearing abilities. Even a healthy adult needs assistance from time to time. These inabilities can make senior citizens more vulnerable to accidental injuries or getting lost in an unknown place while travelling in a foreign nation.
However, reliable travel insurance for senior citizens provides accidental coverage and travel assistance features necessary for their safety and comfort on the trip.
Prone to Financial Risks
Travel insurance premiums for senior citizens are quite high because they promise greater financial coverage. In foreign situations, senior citizens might fall for financial scams, forget travel documents or incur emergency medical costs. Travel insurance can cover all these losses, and senior citizens can avoid paying out of pocket.
Pre-Existing Diseases
In today’s time, ageing brings several diseases like diabetes, arthritis, weak eyesight and much more. In such situations, travelling with pre-existing diseases can be quite risky. That is why, before offering the best price for travel insurance for over 60 years individuals, insurers ask to fill out a questionnaire form to know all about pre-existing conditions.
As travel insurance does not cover pre-existing illnesses, medical coverage for such conditions requires an additional policy price.
Longer Duration Trips
Older people usually take international trips to relax for a longer period. In such situations, the average cost of travel insurance for over 80s or senior citizens over 60 years increases. Longer trips expose senior citizens to more health and financial risks. Insurers might ask for additional costs to provide complete protection for extended periods.
How to Reduce the Cost of Travel Insurance for Seniors?
- Buy Online Insurance: Buying travel insurance online is one way to get insurance at a reasonable price. In online insurance, there are no hidden charges or middleman’s commissions.
- No Sub-Limits: Senior citizens with pre-existing chronic illnesses, such as diabetes or arthritis, should buy travel insurance with no sub-limit. This way, their premium will be used to provide better coverage.
- Get Multiple Quotes: There are several travelling insurance providers in the market, so make sure to compare their plan coverage and premium prices and then choose the one with the best coverage at an affordable price.
- Utilise Insurance Premium Calculator: Before buying any policy, use the travel insurance premium calculator. Calculate the premium cost according to your budget and check whether it is accurate or in accordance with the coverage provided.
- Buy Multi-Trip Insurance: If you take multiple trips in a year, buying insurance for each trip can be expensive. Instead, choose a multi-trip travel insurance plan that provides all the necessary coverage in one policy and saves you money in taxes.
Summing Up
Although travel insurance for senior citizens might be more expensive than regular travel insurance, it ensures that older adults remain safe during their trips and covers their emergency medical expenses, delayed baggage check-in, accidental injuries and more.
Frequently Asked Questions
What age is insurance cheapest?
Getting insurance at a young age is ideal, as you not only get better coverage but also pay less premium.
Can senior citizens travel without travel insurance?
No, senior citizens should not travel without an adequate travel insurance plan. Moreover, travelling insurance is mandatory in some countries.
What is the best international travel insurance for seniors?
The choice of travelling insurance for senior citizens depends on individual coverage needs and premium budgets. However, the best insurance provides adequate coverage and has a good claim history.
