Based on a research report titled 'Shaping the Future of Travel in Asia Pacific' by Frost & Sullivan and Amadeus, by 2030, 7.3 million senior citizens are expected to travel to foreign destinations. While these statistics make it clear that there is going to be a major surge in overseas travel, it also amplifies the need to make senior-citizen-friendly ecosystem that can mitigate the risks they currently face while travelling.
Until such time, senior citizens must be additionally careful and avail travel insurance that can safeguard them against unforeseen losses, delays, disruptions and medical emergencies while traveling abroad. Here are some key reasons why senior citizen travel insurance is absolutely necessary.
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Multiple Health Issues
Age and existing medical conditions can make senior citizens vulnerable to ill health during their overseas travel. They might not be able to adapt to sudden or severe changes in temperature, food and water. Such an inability to acclimatize and lowered immunity make them susceptible to diseases. Travel health insurance for senior citizens can cover the expenses incurred towards treatment and medical care abroad.
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High Medical Costs Abroad
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When travelling overseas, senior citizens might incur several medical expenses that are much higher than those in India. For e.g., while an X-ray report in India costs a few hundred rupees, in the UK it can cost up to 99 pounds (approximately Rs. 9800). Travel insurance can cover many of these medical expenses.
Choose a travel insurance plan with an adequate sum assured to cover yourself from financial shocks. Experts recommend that one should avail a minimum sum insured of USD 50,000 while traveling to Schengen countries.
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Accident and Mortality Risk
Senior citizens suffer from a higher risk of accidents due to a number of reasons. Their agility and movement is reduced due to:
- Declining eyesight
- Arthritis and other musculoskeletal challenges
- Reduced memory
- Poor concentration
- Other distractions
These accidents may result in disabilities. Based on the policy, travel insurance covers financial loss arising due to such disabilities. It also covers hospitalization expenses.
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Miscellaneous Risks
These accidents may result in disabilities. Based on the policy, travel insurance covers financial loss arising due to such disabilities. It also covers hospitalization expenses.
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Home Insurance within Travel Insurance
When senior citizens travel abroad, their homes are often unattended. In many cases, the entire family including senior citizens travel abroad, making their homes vulnerable to break-ins and burglary. Hence, a travel insurance cover is recommended. Opt for a comprehensive travel insurance plan, which also covers your home (structure as well as contents).
Availing travel insurance is easy online. You generally do not need a health check-up up to the age of 85 years. However, note that a claim due to or arising out of pre-existing medical condition/ailment whether declared or undeclared is generally not covered under the policy.
However, if an accident takes place in the non-covered zone, then your insurance claim is liable for rejection. For example, if the accident occurs on foreign soil, such as the Maldives, Sri Lanka or Pakistan, then your auto insurance claim will be rejected.
Key factors to look before opting for a travel insurance for senior citizens
A senior citizen travel insurance should include certain factors in their policy for a more enhanced coverage.
- Accidental bodily injury
- Tooth treatments due to injury
- Loss of checked-in baggage
- Emergency expenses made for medical evacuation to resident country
- Hijack distress allowance
- Facility to provide emergency cash in case of theft
- Expenses incurred if you miss connecting flights because of delay of more than 3 hours.
- Emergency medical expenses for any sudden illness, injury or death.
Learn more about Travel Insurance for Senior Citizens.