As seniors come close to retirement age, they consider traveling the world. Insurance companies have noticed this trend and have introduced insurance packages for senior citizens. While travel insurance for over 65s was once hard to find now many insurance companies offer this product to their senior customers. However many policies do not offer the same features and benefits. Due to this, seniors will need to be aware of their options before purchasing cheap travel insurance for over 65s.
Traveling Within the United States
If you are traveling to areas that are considered to be within the United States territory, it would be wise to check whether the current medical insurance that the traveller has covers these areas.
Some policies will cover these areas and other will not. There is no sense in paying for events that are already covered by current policies.
If the current medical insurance the travel has does not cover these areas, they will need to look into best travel insurance for over 65s.
Traveling Outside U.S Borders
Those that are planning to travel outside of U.S borders will almost certainly need to take out a new travel policy. Most medical policies exclude coverage outside of the United States. The only exception to this will be when a home contents policy will cover luggage taken outside the country and when a credit card company offers free travel insurance to the users of the card. However if a home contents cover does insure goods taken out of the country, they will only pay for a limited amount of goods. In addition, medical issues will not be taken care of. Credit card companies over very basic travel cover so not all insurance events that occur overseas will be able to be claimed upon.
Annual Travel Insurance for Over 65s Vs One Time Cover
Seniors that travel regularly may save money when they get a multi-trip policy. However, those that only travel once in a while should purchase single trip cover. Single trip cover is cheaper for those who have one or two trips every couple of years.
Those that travel overseas more than once a year will save money by purchasing annual multi-trip cover. It will also save them filling out insurance declarations and forms every time that they go overseas.
Decide What the Insurance is Needed For
Not every insurance policy is the same. Different policies have different features and benefits. Travelers should assess what their traveling needs are before they look at insurance policies. An example of this is a pensioner who does not drive will not need cover for the loss of a rental car. There is no need to pay for features that one will not be using.
Before Signing the Insurance Papers
Before pensioners sign on the dotted line, there are a few things that they should do. Firstly, it is important that they make that the terms of the insurance policy are understood. These include things like what they are and are not covered for and what their deductible will be in the event of a claim.
In addition, pensioners should take the time to learn how to contact the insurance company if they run into any problems overseas. Many agents will have twenty-four hour help lines available. Some will even have branches all over the world that one can visit if the need arises.
How to Find Travel Insurance
Finding travel insurance online is not a difficult task. All one has to do is a quick search online for senior travel insurance. Once a list of agencies is obtained, the traveller can call them and ask for a quote. When talking to the agents seniors should ask what each policy covers and what it does not.
One easy way to save time is to look online at comparison websites. There are many websites that list the policies that each insurance company provides. They then compare travel insurance for over 65s, information such as the features of the policy and value for money are discussed.
Seniors should be aware that travel insurance will be more expensive once they are over the age of 65. This is a fact that cannot be avoided. The truth of the matter is when most people reach a certain age they become more prone to accident and illness. Due to this, seniors are a bigger risk to insurance companies than those that are aged under 65. This risk is reflected in both the price of the insurance and the deductible that is charged at claim time.
Many insurance companies do cover pre-existing conditions for those applying for travel insurance for over 65s. Seniors should list their medical issues. Lying and omitting information on an application form can lead to the insurance policy being voided and future claims being declined.