Travel Insurance for Seniors in Canada

It’s probably a good idea for all travellers to think about travel insurance. But seniors are at more risk than most for things like illness or medical needs to arise while travelling. Without insurance, costs can be very high if you pay out of pocket for those emergencies.

And that’s if you’re still relatively healthy. If you have pre-existing medical conditions, it’s even more important to take precautions and pay for travel insurance that can help with costs, should you need them.

It really depends on your personal circumstances. Healthier, active people may not need as much as people with medical conditions. It also depends on the type of trip you are taking and where you are going. It’s best to talk to your travel insurance provider to see what is in your best interest.
 

You can but it will likely cost you more than travel insurance for other seniors. A pre-existing condition can be things like:

• Diabetes
• Heart Conditions
• MS
• Parkinson’s

The list is not exhaustive so it’s best to talk to your provider about how it interprets what a pre-existing medical condition may be. It’s important that you are honest with your provider when inquiring about travel insurance for seniors. If you leave information out, you may be at risk of not getting the coverage you need.

Many providers offering medical travel insurance for seniors will have what’s called a stability clause. This requires that your pre-existing condition be stable for a period of time (sometimes 90 days or more) prior to your trip.

Also, seniors with pre-existing medical conditions needing a more personalized travel insurance policy may find the costs higher than a 'standard' policy or one for people with no pre-existing conditions. It’s best to compare costs on sites like Rates.ca to see who offers the best travel insurance for seniors in Canada.

Travel insurance providers, like all insurance providers, are assessing risk. The greater the risk they are taking on related to your insurance, the greater the cost will be. For this reason, providers will look at several factors when considering what impacts your quotes.

This may include:

• Health: Obviously if you come to the insurance table with a pre-existing condition, you will face higher travel insurance costs.
• Destination: Higher risk parts of the world, with fewer resources and higher crime, for example, would influence the cost of your senior travel insurance. Make sure you read the Government of Canada’s travel advisories before booking any travel.
• What you are covered for: The more you get covered, the more your travel insurance will cost. Assess what you have versus what you want before embarking on your trip and insurance needs.
• Length of the trip: The length of your stay can affect your cost. The longer you are gone the higher the risk that something could happen to you, your luggage etc.
• Cost: An expensive trip will mean a higher cost for your travel insurance. It’s more risk for your provider especially for cancellation and interruption coverage.
• Age: With age comes wisdom. But also, health risks that your insurance provider will assess at a higher cost.

It can. Sometimes called annual plans, travel insurance companies will offer protection for muliple trips within a year. Often the duration of coverage is limited for those trips, sometimes for 30 days at a time. Talk to your provider about what they offer and if it covers your multiple trip plans.

The older you are, the more travel insurance for seniors will cost. So, if you are 90 or older it is possible to still travel. But you will likely have to fill out a medical questionnaire and if you have pre-existing conditions you may have to opt for higher priced plans. Compare rates and providers and see who offers the best coverage for age-appropriate travel insurance plans.