Travel insurance for seniors
Travel insurance for seniors
Catriona Rowntree’s top travel tips for seniors
Catriona Rowntree
Travel
Video Transcript
Hello, I’m Catriona Rowntree, host of Australia’s longest running travel and lifestyle show, Getaway. And today, I would like to talk to you about travel insurance in your later years. You know, it’s a common question. Can seniors even get travel insurance?
Well, of course, they can. Why should you get travel insurance? Well, it is one of the best ways to cover your trip. You can enjoy peace of mind if you become ill or injured while travelling or if you’re a victim of crime.
Now, when considering insurance, always look for a policy that allows you to declare any pre-existing medical conditions as part of your application. The insurer needs to know this information so it can be considered when your cover and premium are being determined. Now, if the insurer decides to cover the condition, you can rest easy knowing you have the cover you need, and there are no surprises if you’re injured or become ill while travelling. If your trip includes a cruise, an international travel insurance policy that includes cover for medical expenses is an important consideration.
Remember, you are not covered under Medicare benefits or private health insurance once you leave port. Even if you’re in Australian waters. Now to complement the medical cover, consider cover for if your trip is cancelled due to unforeseen circumstances and cover for your luggage and personal belongings. And finally, take photocopies of your travel insurance policy and your passport.
Bring a copy with you and leave a copy back home with someone you trust. So, if you lose the originals, you can at least still have access to everything that you need. You know, navigating what travel insurance is right for you. It doesn’t have to be difficult.
By comparing, you could save time and money. Compare the Market can help you compare travel insurance policies online in minutes. So you can travel with confidence.
Why take out travel insurance for seniors?
Travel insurance can help provide peace of mind that you may be financially protected if your trip goes wrong. If you’re unsure whether you need travel insurance for seniors, consider:
- Cancellation cover may protect you financially if an injury or illness keeps you from embarking on your trip (if this is included in your policy).
- Without travel insurance, you’d typically have to pay for any medical treatment yourself.
- Your insurer may provide 24/7 emergency assistance in the case of an emergency, which could be useful when in a foreign country with an unfamiliar healthcare system.
Choosing travel insurance for seniors
Depending on your insurer, your level of cover and even your travel destination, policies can look very different. Before you buy travel insurance, consider:
- The different types of travel insurance and what you want to be covered for
- If any exclusions or additional conditions apply to your policies due to age limits
- If your pre-existing medical conditions can be covered.
Expert tips for choosing the right travel insurance for seniors
Compare the Market’s Executive General Manager of General Insurance, Adrian Taylor, has a few tips for helping you get the most value out of your travel insurance.
Adrian Taylor
Executive General Manager – General Insurance
Consider adding cruise cover
If your trip involves a cruise, international travel insurance with cruise cover is ideal as it includes cover for medical expenses. Even when cruising around Australia on a domestic trip, you’ll still need an international policy that includes medical cover as Medicare benefits will not be available onboard your cruise ship.
Choose the right level of cover
Keep in mind the kind of cover you need for your travels. For example, if you want cover for medical expenses, cancellation fees, luggage and rental vehicle excess, a comprehensive travel insurance policy might be at the top of your list.
Decide if you need annual cover
If you’re looking to travel more than three times a year, an annual multi-trip policy may be of more value than several single trip policies. However, age limits and your planned trip durations may affect whether you’re eligible for annual cover.
Age considerations
Can I get travel insurance if I’m over 80?
Age limits may be a concern for older Australian travellers, but it’s possible for seniors over 80 to get travel insurance. Seniors up to 99 may have a choice of policies, such as basic, standard and comprehensive.
Not all insurers will have the same age limits and same levels of cover. Always read the Product Disclosure Statement (PDS) for full details on the inclusions, exclusions, limits and sub-limits, as well as the Target Market Determination (TMD) to check if a policy is right for you.
Is there an age limit for travel insurance?
Travel insurance for seniors can typically insure those up to 99 years old. However, it’s important for older travellers understand that:
- Travel insurance companies may have different age limits, and not all will provide cover up to 99 years of age.
- Your travel insurance policy may be more expensive as you get older.
- Age limits on policies refer to your age when the Certificate of Insurance was purchased, so your cover won’t be affected if you have a birthday while travelling.
Inclusions, exclusions and pre-existing conditions
Inclusions
You never know what might happen on your travels, so it can be a good idea to find a comprehensive policy with the following common inclusions:
- Overseas medical costs (notably emergency assistance, hospital expenses, medical evacuation and repatriation)
- Lost deposits and cancellation fees if you cancel due to unforeseen circumstances
- Additional expenses you incur if your planned transport is cancelled or delayed
- Loss, damage and theft of luggage and personal items including cash, credit cards and travel documents
- Personal liability (e.g. legal expenses if you accidentally injure another person).
If you’re a grandparent travelling with dependants, many travel insurers will automatically cover dependent grandkids for no additional cost (subject to the conditions of the policy) as long as:
- They meet the age limits of your insurer
- They’re not working full-time
- They’re financially dependent on their parents or grandparents.
Exclusions
Like any insurance product, each travel policy will come with some exclusions. Some of the following exclusions can apply to any travel insurance policy, whether you’re a senior or not:
- Unattended luggage. Your insurer may not cover your claim where luggage is left unattended in public.
- Third-party compensation. If you’ve already been compensated for a loss by a third party, like your airline or tour operator, your insurer will not compensate you again.
- Influence of alcohol or drugs. If a loss was caused by or impacted by you being affected by alcohol or other drugs, your insurer may not cover your claim.
Pre-existing medical conditions
Not all pre-existing medical conditions can be covered by travel insurance. When taking out travel insurance, always declare your pre-existing conditions to your insurer so they can assess if they can offer you cover. Otherwise, they may refuse to compensate you for any claim that’s related to your condition.
When you disclose your pre-existing medical conditions, your insurer can factor this into your policy (although an additional premium may apply). A travel insurance policy covering your pre-existing conditions can be a huge relief for travellers.
How much does travel insurance for seniors cost?
As you get older, you may need to pay a little bit more for travel insurance compared to what younger travellers are paying. However, insurers will have different rating factors, excess options and premiums. This makes it even more important to compare travel insurance quotes so you can find an affordable but valuable policy that provides travel insurance for seniors.
Travel companions for seniors
Types of travel companions for seniors
- Family and friends. For seniors who are primarily looking for companionship and a shared travel experience.
- Medical travel companions. For seniors who require medical care for their entire trip, such as those who have special needs or a disability.
- Travel clubs and tours. These can be a great way for older adults to enjoy a guided trip with like-minded travellers.
The benefits of seniors having travel companions
Selecting the right travel companion for your trip could have several benefits, including:
- Better security. Depending on where you’re travelling, travelling with a group could be safer than going solo. It may also give your loved ones peace of mind knowing you’re travelling in a group.
- Travel assistance. If you require help during your flight’s check-in process, carrying luggage or have other personal care needs, a companion may be able to assist you.
- Shared expenses. Having a travel partner or a group of people with you on your trip to share costs can work out cheaper than solo travel. This could be especially useful if you’re retired and on a limited income.
Can I add travel companions to my policy?
Yes, multiple people can be added to one travel insurance policy. This may include your family members and friends, or even travel buddies you’ve met from travel groups or meetup sites, depending on your policy.
Meet our travel insurance expert, Adrian Taylor
As a General Insurance expert with over 13 years’ experience in financial services, Adrian Taylor believes in educating customers about the importance of travel insurance so that anyone can kick back and make the most of their time away from home. While no one wants a disrupted holiday, a suitable travel insurance policy can provide a financial safety net for yourself, your belongings and your trip in case things go wrong.