Buying travel insurance over 70

If you’re over 70 and you enjoy traveling the world, whether to visit family and friends or to experience new and exciting destinations, it’s not a bad idea to consider purchasing travel insurance.

Holiday insurance is often a valuable investment at any age, but statistics show that aging increases the risk of experiencing difficulty while traveling.  This should come as no surprise, as the risk of medical emergencies, automobile accidents, falls, and other hazards increases with age.  For many holiday travelers over the age of 70, travel insurance makes good sense.

You can purchase single trip travel insurance if you travel rarely, but if you’re like many retirees who travel regularly, annual multi trip holiday insurance might be a better investment.  Such policies cover multiple trips abroad every year, each enjoying the same financial coverage in the event of hardship or unfortunate circumstance while traveling abroad.

As you consider whether to purchase travel insurance, keep in mind that many travelers over 70 feel more comfortable on holiday when their coverage includes reimbursement for expenses incurred as a result of:

  • Repatriation or medical evacuation in the event of a medical emergency
  • Lost or stolen luggage or personal effects
  • Lost or stolen money (cash, cheques, or credit cards)
  • Cancellation fees, lost deposits, and alternative transportation arising from itinerary changes
  • Alterations due to natural disaster, political unrest, or adverse weather
  • Prescription medication replacement due to loss, theft, or simply running out

There are also coverage options available that pay an accidental death stipend to your survivors in the unfortunate event that you pass away while on holiday.  This may help defray additional costs your loved ones incur.  In a similarly unsavory vein, you may purchase permanent disability insurance for financial coverage in the event you become disabled while on vacation.  Such occurrences are quite rare, but many travelers over 70 feel the coverage is worth the expense.

While insurance is readily available for vacationers over 70, you should be prepared to pay higher premiums than your younger vacationing counterparts.  Insurers incur greater risk when they write policies covering older travelers, and that risk is reflected in higher premiums.

As always, be sure to perform your own due diligence before you buy travel insurance.  But for many, the small expense is a good investment.