Senior Travel Insurance Pros and Cons

As a senior over 70 travel insurance is a something that you should have whenever you travel alone or even when you choose to be part of a group tour. However do you really need to take a travel insurance and this really important?

In your travels there is always the risk of you getting hospitalized, flight cancellations, natural disasters occurring, you getting sick, and you losing your luggage to thieves. Having an over 70 travel insurance reduces the amount of money you are going to spend when these things do happen as you travel.

Being insured as you travel is sharing the risks mentioned above with your insurer. Hopefully, the scenarios below will help you understand the why you a senior over 70 need to have travel insurance.

For instance, as you are vacationing at a beach resort when a strong earthquake suddenly occurred and you found yourself in danger of becoming a victim tsunami. If in your policy you are insured for natural disasters, you are helping yourself and your family deal with the consequences afterward especially if the consequence is accidental death or permanent disability if this is part of your over 70 travel insurance policy.

In the recent eruption of Iceland’s long dormant volcano, many flights were canceled and travelers became stranded in various airports all over Europe. There were many travelers who did not have insurance thinking it was expensive. Still some of those who were insured found their coverage not enough for hotel accommodations simply because such a thing was not expected to happen.

It’s you and your wife’s first time visiting a non English speaking country and your passport and wallet with your money and credit cards in it were stolen. You can call your bank for wire transfer but essentially how can you arrange this when you cannot speak a foreign language? This is where your travel insurance becomes very useful.

You were traveling alone and were suddenly taken ill and had to be hospitalized? You found out your health insurance does not cover you outside of the United States, how do you take care of your medical bills then? If you are covered for this eventuality in your over 70 travel insurance policy then the insurance company will take of these things for you, if medical evacuation or being reunited with a loved one in a foreign hospital is covered so much the better right?

Your daughter who is traveling with you figured in an accident at a ski resort further you found out that medical services are not adequate in that area or they are too expensive. How can you bring your daughter home for the proper medical attention she deserves?

Perhaps you are waiting for the cons? There are no cons really, its just that many seniors do not appreciate the importance of having insurance in their travels because they do not put into consideration the number of things that could happen to them in their travels.

Mind you it is not only important to be insured, it is also important that you understand how to make your over 70 travel insurance policy work. So, before embarking on your next trip to Hawaii discuss with your insurance company what to do in cases of emergency.

Types of Worldwide Travel Insurance

For those who are looking to travel a lot in the coming years, knowledge about worldwide travel insurance is mandatory. The travel insurance schemes have many benefits and travelers must invest some time thinking about what is the right kind of insurance for them and what would they need to pay on a monthly basis or in a onetime payment. This insurance gives a person lot of peace of mind and it usually decides on factors like time period of stay, uncertainty of stay, amount of travel etc. There are many types of travel worldwide insurance.

Worldwide Travel Insurance by Location

The insurance benefits are different for different people. This means the cost and the coverage would vary from person to person hailing from different parts of the world. A good example is the insurance for European Union residents which is different from the insurance for non-European Union residents. For European residents, the policies are priced in terms of Euros which makes it easy for the tourists.

Sports Insurance

If you are an adventure enthusiast, worldwide travel insurance has many schemes which will provide you with sports insurance and also a flexible cover for participation either casually or in a competitive scenario.

Winter sports Insurance

Policy holders of worldwide insurance should also enquire and avail the benefits of risky winter sports that include heli-skiing, parapenting, off-piste, snowboard and generally skiing. Most of these policies are taken by families as a whole and children get coverage free of cost and the premium is paid for the adults.

Long stay Travel Insurance

In this case, the traveler needs a worldwide travel insurance to stay for a period as long as 18 months. This insurance in some cases also covers adventure sports during the stay and saves money for extra insurance like winter sports or skiing insurance.

Travel worldwide insurance can also be single or multi-trip. Although multi-trip would be slightly more expensive, it means you will have coverage for a given period of time and you can make as many trips to that place as you need to and your policy will still be valid. If someone toggles between two countries once a month or so, to take care of family and business, this kind of insurance is ideal as it doesn’t take the number of trips during a period into account and bulk payment is always less than individual policies for every single trip. However, if one has only one or two planned flights, then applying for a multi-trip insurance is really not advisable as it will prove more expensive. Some people prefer to take the annual insurance and then one can fly back and forth as many times as required.

Although a few people due to emergency situations or last minute decisions fly without an insurance it is easy to procure the insurance once a person reaches or in the middle of the stay too. The same is the case when the insurance of a person expires in the middle of a trip.

Why Travel Insurance is Important Before Planning a Tour

Travel insurance is designed to provide any financial benefits while traveling overseas or within your own country. The insurance policy can be taken by dedicated companies, at the point of booking the holiday, travel agent, booking agent etc.

Travel insurance covers all your risks like holiday cancellation, theft, loss, damage to personal possessions and money, medical expenses in abroad, overseas funeral expense, accidental death, injury benefits, legal assistance, delayed departure at the airport or sea port etc. After taking travel insurance which covered maximum benefits you can feel free to travel across globe.

There are several different travel insurance policies available in the market that can be purchased. Annual insurance will cover you for 12 months. In this, you can choose any time for traveling within a year and you don’t need to take it again and again. Single trip insurance will cover for a specified time period and tour. This is beneficial if you are traveling occasionally. Multi trip insurance will cover a set amount of tours. In this, your time will be saving, you don’t need to take insurance before each tour. It is good for those who travel frequently. Backpacker insurance provides service when you traveling alone with no fixed hotel or travel plan. Ski and Snowboarding insurance require for high risk sports. If you are planning your tour with exotic sports this travel insurance will cover that risk also. Student insurance has a different policy for younger travelers.

Travel insurance is just like other insurance in which you have to pay premium and get all benefits of policy. Premium can be one time payment or in installment depending upon policy. If your policy is single trip insurance then you have to pay full premium at once and in annual insurance it can be payable in installment also. In multi trip insurance you can pay in installment and take all benefits of insurance.

Finally, insurance provides you tension free and better trip. There are also some intangible benefits in insurance it gives you satisfaction that you are safe from all hazardous and your trip is hassle free.

When you are planning to go abroad for vacation you should search the best possible travel insurance before booking your tour with travel agents. There are many companies claiming that they will provide you the best insurance for all types of travel, but are these companies really offering the best and economical deal to you.