Boomers are finally retiring, and with the extra time and cash will come more travel. Even though health care is better than ever, it is important for the over 65 group to make sure they are insured when they travel. There are a few reasons it is especially important for travelers in this age group to buy insurance.
Medicare provides no coverage outside the US
First, if you are depending on Medicare and plan on traveling abroad, you need to understand there is no Medicare coverage outside of the United States. Medicare will just does not provide any coverage abroad, and even a private plan will most likely not work outside the US. This is why is it important to purchase a travel insurance plan to cover you.
Over 65s have special medical coverage needs
Second, even though they are more active than any retiring generation in history, over 65s simply have greater medical needs than younger travelers. They are also more active and willing to get out and travel. Travel insurance is designed to give travelers from the US the same type of coverage they receive here at home. Don’t get stuck in a foreign country with the right kind of medical coverage.
Trip cancellation coverage protects your vacation investment
Finally, many things can go wrong before leaving for your trip, any one of them can cause you to cancel and lose your non-refundable trip payments. This can easily cost thousands of dollars, unless you purchase trip cancellation coverages. This insurance can cover cancellation due to an illness, accident, death in the family, or even a home fire. Trip cancellation coverage costs more than just medical coverage, but the extra premium can save you thousands of dollars.
Boomers have special considerations when shopping for travel insurance
- Shop online and compare different companies. Use a comparison site (see How to Compare Quotes with a Travel Insurance Comparison Site) where you can look at quotes from all insurance companies at once without visiting a dozen different sites.
- Travel insurance companies limit the amount of coverage depending on the travelers age. This lets the over 65 traveler get some level of coverage, and for a reasonable price.
- Pre-existing medical conditions can effect the policy coverage. Call the insurance company with specific questions if you have pre-existing medical conditions.