What To Have In Mind When Buying Travel Insurance For Seniors
The internet allows us to compare prices and policies in the comfort of our own home. More and more people buy travel insurance online, including those that are buying travel insurance over 65.
You should always get quotes from few travel insurance companies and compare them rigorously. Comparing travel insurance is usually not straightforward thing to do. It is not enough to compare the price quoted. You must also compare what is included in the insurance policy and what is not. The cheapest quote is not necessarily the best option for you, as it can mean higher excess or exclusion of some or all pre-existing medical conditions.
The most important thing to compare is the level of cover, i.e. what is included and what is excluded. You will have to read the small print carefully for this. There are so many different exceptions and the language can be arduous read.
The level of medical cover is particularly important when buying travel insurance for senior citizens, especially the levels of cover offered for pre-existing medical conditions once you have declared them.
Your cover should include repatriation back home in the event of emergency and sufficient compensation, to protect your next of kin from financial deficit, in the event of death.
Your travel destination will influence the price of your travel insurance, i.e. the further a field and the less developed country you are traveling to, the higher the price. In addition, your travel destination should influence what kind of insurance cover you choose.
You should always research the standard of medical care at your travel destination prior to deciding on your medical cover. You should also compare the excess involved, i.e. the amount of any claim that you must pay before the insurance provider starts paying. The rule is the lower the excess the more you pay for your insurance.
If you travel frequently then you should compare annual multi-trip travel policies against buying single trip policy each time. Usually annual multi-trip is better value for frequent travelers but this is though not always the case when buying travel insurance over 65.
You might come across the term "OAP travel insurance" when searching to buy travel insurance online. This would be travel insurance for pensioners as OAP stands for Old Age Pensioner.
Lastly, make sure you buy your travel insurance as soon as you have booked your holiday. This will cover you in case of any need for cancellation due to unforeseen circumstances.
