Travel Insurance for Seniors

Travel insurance for seniors is an important part of ensuring seniors can access health care services when they are away from home. More seniors are enjoying the benefits of retirement and taking time to travel in their golden years. Like all travelers, they need the best medical emergency travel insurance they can find. Whether your loved one is a well-seasoned traveler or has been waiting for the adventure of a lifetime, itÕs important their journey is as safe and enjoyable as possible.

Travel insurance for seniors is usually more costly than regular travel insurance because of the increased risk involved due to advancing age and increased probability of pre-existing conditions. Some insurance companies consider individuals to be seniors at 50, while other companies deem "senior" at an older age. The cost of travel insurance for seniors typically goes up as the person ages, regardless of personal health history. For example, the cost of insurance often increases at age 60, then 65, then 70, and so on. Often seniors in their later years - 80 and above - cannot afford to travel or spend a whole season in another country simply due to the cost of medical travel insurance being so high.

Regardless of cost, it is crucial that seniors are adequately covered when travelling abroad. The risk of sky-high costs for medical coverage when travelling without travel insurance or having inadequate travel insurance certainly outweighs the cost of being covered.

Medical costs definitely won't be covered without travel insurance in most countries. If anything goes wrong while an individual is travelling and health care is required Ð the individual will have to pay out of pocket. In some countries, just spending one day in the hospital can cost around $10,000 US.

The type of travel insurance for seniors that is needed will depend on the type of trip. Certainly anytime a senior is going to leave the country; it is recommended that they have travel insurance. The type, even for seniors, depends on the type of travel; whether it is a weekend trip, a weeklong cruise or spending a whole season in a warmer climate. Most companies designate specific insurance policies to seniors, regardless of length of trip.

There are specific plans for senior citizens who travel out-of-country for a longer period of time, such as "snowbirds" who go from Canada to the US for most of the winter.

Emergency medical travel insurance for seniors plans are most often set up to cover sudden and unexpected illness or injury and are usually issued with fixed coverage amounts, for example 1 million dollars up to ten million dollars.

The amounts for premiums should be checked carefully as there is often little difference between a 1 million dollar coverage policy and a 5 million dollar coverage policy. If this is the case, it makes sense to purchase the insurance policy that will over a higher cost for emergency medical expenses.

The other option that may change the premiums on travel insurance for seniors is the deductible. Check with the provider on how changing the deductible may change your premium rate. Be careful of the wording around the deductible. Often insurance companies will use a statement such as per claim or per policy. If the plan has a deductible, you want the wording regarding the deductible to be per policy. That way, if you have to use the insurance more than once, you only have to pay the deductible once. If you had a deductible that was per claim, you would have to pay the deductible each time you use your travel insurance. This could become costly and is an unnecessary extra cost.

If a person is older than 55, they will most likely be asked to answer medical questions prior to purchasing travel insurance. The medical questionnaire will help the insurance agency to determine what rate will be paid. The rate category will be determined by health issues such as diabetes, heart conditions, lung conditions, stroke, cancer, illnesses that require strong medications, high blood pressure, and current health status including status regarding smoking. Each health category may have exclusions related to pre-existing conditions.

Though we all want to get the most affordable insurance, be careful to complete the medical questions as accurately as possible. If there are discrepancies between your health conditions as reported and what has been documented or reported in the past, this could make your medical travel insurance void.

Once placed in a health category, the senior citizen will have a better idea of what the insurance company defines as a pre-existing condition. Usually the condition can be deemed stable if the person has not changed medications, doses or treatments for medical conditions for a certain number of days, eg. 180 days.

It is very important the senior calls the insurance company immediately (or as soon as possible) if they suffer a medical emergency while on their trip. This will help them follow the proper procedures and will also help to put their mind at ease. Some claims can be submitted directly through the insurance agency or the bill may have to be paid first and receipts submitted after for reimbursement. Direct submissions should not be a problem at big centers or hospitals but travelers may have to pay first and submit later at small clinics or doctors' offices.

Always check insurance policies for extra bonuses for other travel-related insurance such as flight cancellations, theft, loss of belongings and personal liability. Certainly it's more important to ensure you have a quality plan that will protect you and ensure you financial security for the future, but a little extra here or there never hurts!

Quick Tips about Travel Insurance for Seniors:

• When choosing a coverage amount, be sure to check how much the premiums change when you increase the coverage amount. If it's not much, it may be very worth it to get a higher amount for coverage.
• If your travel insurance has a deductible, ensure your deductible is only charged per policy, not per claim.
• Be sure to apply for coverage early (~180 days or less before you head out)
• Review what your travel insurance company deems as stability (in regards to medical conditions) and pre-existing condition and review the policy wording before you depart to ensure there hasn't been any change from when you applied
• Call your insurance company immediately (or as soon as possible) if you suffer a medical emergency while travelling
• Carry your wallet card on you at all times while travelling. The hospital staff will need this if you are unable to provide them information due to incapacitation.