Why seniors travel insurance is as essential as a passport

If you are travelling from Australia, here are some reasons why seniors travel insurance is as essential as a passport.

While medical expenses are a primary reason to get seniors travel insurance, other issues can arise, such as trip cancellations, delays or lost luggage.  If these events leave you out of pocket, seniors travel insurance can help cover those unexpected costs.


The Australian government won’t cover your overseas medical expenses.

If you get injured or sick while overseas, you’ll be responsible for hospital bills and the cost of flying home. In the worst-case scenario, this could cost you or your family hundreds of thousands of dollars.


Some countries won’t allow entry without travel insurance.

For instance, Singapore and the UAE require it, as do all 26 European countries in the Schengen Area if you’re applying for a visa to visit.


Reciprocal healthcare agreements

Australia has reciprocal healthcare agreements with several countries: Belgium, Finland, Italy, Malta, the Netherlands, New Zealand, Norway, the Republic of Ireland, Slovenia, Sweden, and the United Kingdom. If you have Medicare, you can receive subsidized treatment for essential services in these countries. This often raises the question of whether seniors travel insurance is still necessary.

The answer is yes, for several reasons:

  1. Limited Coverage: Reciprocal healthcare typically only covers urgent care that cannot wait until you return home.
  2. Medical Evacuation: Seniors travel insurance can pay for a medical escort to bring you back to Australia if you become seriously ill.
  3. Out-of-Pocket Expenses: You may still have to pay fees for treatment and medication. For instance, in New Zealand, reciprocal healthcare does not cover general practitioner visits or ambulance services.
  4. Additional Coverage: Seniors travel insurance also provides coverage for cancellations, delays, stolen items, and more.

Your seniors travel insurance premium is calculated on multiple factors.

  1. Destination: The cost of seniors travel insurance can vary depending on the region you’re traveling to. Insurers often apply policies to regions rather than specific destinations.
  • Asia Pacific: Includes destinations like New Zealand, Bali, Fiji, and Papua New Guinea.
  • Asia: Covers countries such as India, Indonesia, Thailand, Singapore, and Malaysia.
  • Europe: Encompasses destinations like the United Kingdom, Ireland, and Western Europe.
  • Worldwide: Includes all of the above regions, as well as North America, South America, Japan, and Africa.

These regional definitions can vary by insurer. For example, some insurers include Bali in their Pacific policy, while others categorise it under their Asia policy.

  1. Duration: Generally, the longer the duration, the higher the premium.
  2. Type of policy: Most seniors travel insurance providers offer a choice of plans depending on your situation and whether you will be travelling solo or with your partner or family.
  3. Age: Generally premiums will be higher for each year over 30.
  4. Pre-existing conditions cover: Some insurers don’t cover pre-existing conditions at all. Others may cover them for an additional fee and sometimes require a medical assessment. Some insurers automatically cover specific pre-existing conditions listed in their Product Disclosure Statement (PDS).
  5. Options: Include increased cover for Cancellation, Valuables and activities such as Adventure, Snow and Cruising.

Before you buy seniors travel insurance

Always read a seniors travel insurance supplier’s Product Disclosure Statement (PDS) before deciding to purchase your policy.

Table of Benefits: Provides an overall summary of your coverage.
Policy Cover Section: Essential reading, typically divided into “what we will pay for” and “what we won’t pay for.”
General Exclusions: Crucial to understand events not covered by any section of the policy.
Pre-existing Conditions: Important for anyone with a medical condition, no matter how mild, to review.
Word Definition Table: Check for definitions of terms like “relative” or “moped” to avoid surprises.
Claims Section: Offers tips and necessary actions if you need to make a claim, such as not admitting fault in an accident and gathering essential paperwork like police reports.
COVID-19 Cover Section: Details the medical, cancellation, and other coverages specific to COVID-19.
24-Hour Emergency Assistance Contact Number: Write it down and keep it handy for an emergency

 

Why seniors travel insurance is as essential as a password

Travelling soon and need cover? Get a free seniors travel insurance quote

About US
Boomers Travel Insurance provides travel insurance for the ever-increasing numbers of mature age Australians travelling domestically and internationally. In partnership with Allianz Global Assistance, our travel insurance features no age caps for our Comprehensive Plans for domestic and international travel, easy application to cover existing medical conditions online or over the phone, and 24/7 emergency assistance wherever you may be in the world.*

*Terms, conditions, exclusions, limits and applicable sub-limits apply. Please refer to the Product Disclosure Statement for full details.

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