Travel Insurance: Why Is It A Must For Seniors

Almost all of us love to travel but in most cases cannot do so as we lack time. However this is not the case with elderly people. Many seniors take advantage of retirement and the extra time it provides by travelling, which is often a rewarding and life enriching experience. Of course, as with anything else, it also comes with a risk. Feeling secure during a vacation or trip can be very important to seniors, so many opt to purchase travel insurance. Usually these policies cover three major events:

Medical & Emergency Health Coverage - Typically, your existing medical/health insurance will not cover services provided in foreign countries. For example, in the US, both Medicare and most employer-sponsored plans will not cover medical expenses oversees. If you fall ill while traveling, you’ll have to pay the cost of seeing a doctor or visiting a hospital out of pocket, unless you purchase supplemental travel insurance. To determine your coverage needs, read all the fine print of your existing policies to determine what oversees coverage is available, if any. When taking out a policy, make sure it covers any pre-existing condition. Read the find print. Be honest about your medical history. If something happens and you do need to make a claim, the insurance companies will possibly look into your medical history to find information to justify refusing your claim. To avoid delays or complications, it’s best to have your ducks in a row from the very start.

Trip cancellation - Perhaps you booked a $5000 cruise with XYZ Cruiseline. Two weeks before the cruise was scheduled to embark, XYZ Cruiseline folds, the cruise is cancelled, and you’re stuck without a refund. Or, perhaps your spouse falls ill and is unable to make the trip. In both circumstances, travel insurance would have provided you with a refund of your investment.

Emergency Medical Transportation – Depending on where your travels take you, sufficient care may not be available. Emergency Medical Transportation covers the cost of transporting you to an adequate medical facility. This type of transportation can be life saving, but is rarely available or affordable without insurance.

What type of plan is right for you? The best strategy is to shop around with many of the top travel insurance companies to see what package best suits your needs. You can do some online comparisons at sites such as insuremytrip.com (http://insuremytrip.com). Some seniors who plan to travel extensively may benefit from a permanent plan, which offers continual coverage. Others may want to insure specific trips. In general, a policy should not cost more than 5-10% of the total cost of the trip. Look for special offers senior citizen advocacy groups, like the American Association of Retired Persons (AARP). Often discounts are available through such groups.

Roberto Rafael is author of article written on travel insurance & travel insurance. For more information, please visit :www.gotravelinsurance.co.uk

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