Finding the right travel insurance in the over fifty age bracket is vital when traveling overseas. Insurers pay little attention to how fit or young you may look, with some insurers adding significant 'age' loadings to policies which may restrict entitlements in the event a claim is made against the policy.
As we age, insurers increase the anticipated risk we are exposed to. Consequently, anyone over fifty years old will in general terms, pay more for their travel insurance policy.
As an example, a recent search of travel insurance providers showed the older we get, the more we pay. On a trip to Europe of two weeks duration showed a 50 year old can expect to pay upwards of $78 for a comprehensive travel insurance policy. A 60 year old on the same policy would expect to pay $88 and a 70 year old upwards of $97. A traveler over the age of 80 years of age could pay in excess of $210 for the same policy.
Fortunately harnessed by the power of the internet, insurance comparison websites can be a gold mine when it comes to reviewing and selecting the best travel insurance policy for your individual needs.
One of the best ways to find out if an insurance company is reputable is by good old 'word of mouth' reviews. Search travel insurance reviews to get an indication of the history an insurer may have in the market place.
Level Of Cover
3 main levels of cover are available to choose from
- Basic (or medical cover only)
- Comprehensive (mid range)
- Fully Comprehensive
Each level of cover is designed to suit the needs of different travelers. Always choose the cover that best meets the criteria for type of holiday and activities you have planned. Don’t purchase the cheapest and/or first policy you find, as you might miss out on the vital cover you need in consideration of your age and any types of existing or pre-existing medical conditions.
Pre-Existing Conditions
As we age, more cracks can start to appear in our overall health and well being. Most targeted 'seniors travel insurance policies' exist to cover for the unforeseen only, not conditions you are already aware of.
Insurers maintain a list of pre-existing medical conditions which are detailed in their product disclosure statement and are automatically covered for free. These tend to be things like high blood pressure, cataracts, mild osteoporosis and mild diabetes.
Those with more serious medical conditions may be required to complete a medical assessment prior to a policy being issued. Some insurers may automatically require a medical form once you’ve reach a certain vintage in life, regardless of the fact you may be in perfect physical condition.
In the event cover has been denied for a current condition, you can be completely covered for all unrelated medical emergencies. Some types of conditions are very rarely covered under a travel insurance policy including mental illness, alcohol or drug addiction, cancer or a terminal illness.
As with any type of insurance policy, its necessary to read and fully understand the insurers Product Disclosure Statement (PDS) to check if an existing condition is covered or otherwise from a policy.
Activities Cover
Most policies cover activities including bicycle riding, swimming, trekking, kayaking and other recreational sports including surfing.
Activities which are sometimes covered may include such things as rock climbing, off shore sailing bungy jumping and scuba diving.
Activities excluded by cover include, base-jumping, motorcycle or moped riding - depending upon the engine capacity. Check the policy for the requirement to have an International Driving Permit as part of a policy condition for motorcycle or moped driving.
Take The Grandchildren For Free!
Some policies allow for dependent children and grandchildren under the age of 21 (not involved in full time employment) to be covered for free under the same policy. Inquire with your preferred insurer to see if you qualify.
Insurance for the over 50's doesn't have to cost the earth - by using comparison websites its easy to compare multiple policies online. By taking advantage of comparison searching, travelers can find it easy to see which companies offer the most cover for the best price.