One of the benefits of reaching your later years is more time to travel. Those trips outside of Canada come with certain considerations, however. You might want a safety net in case you need medical attention. That's in addition to having some security in case you need to cancel your trip altogether.
But things are a bit different for older travellers. You may not have the same access to coverage as younger travellers, or your premiums may be more expensive. Before you take off for your next adventure, here are some things to think about when it comes to travel insurance.
Credit Card Limitations
Some travellers might assume they have adequate protection from their credit card company. But that insurance is likely limited. You may only be covered to a certain amount and in very limited circumstances. Before relying on your credit card insurance, check the details of what's included.
Coverage for Pre-existing Conditions
Many travellers have some medical issue they live with on a daily basis. Your insurer may want assurances this condition is stable before you can get coverage for medical treatment outside the country. The exact amount of time varies from policy to policy, but the company may want to see 90 or 180 days with no changes to your treatment plan before approving coverage.
High Cost of Medical Treatment
If you do get medical attention outside of Canada, the bill can be very high. Even a one-day hospital stay can run in the thousands of dollars, even you receive a prompt discharge. While some provincial plans may cover some of these costs, the reimbursement is often minimal. That means getting private travel insurance is almost a necessity.
Direct Payment to Providers
With private insurance, you often don't have to wait for reimbursement. A travel insurance policy may often provide direct payment at the time of treatment. That means you don't have to be out of pocket during a time of medical distress. Direct billing is an option not usually offered by government plans, and offers you additional financial security.
Different Plan Options for Older Travellers
Some private insurance providers offer special policies for those over the age of 60 or 65. These plans are tailored to the specific needs of snowbirds, who spend several months outside of Canada, and those who are just taking a quick trip outside of the country.
Some of these providers give you the option of whether or not to fill out a medical questionnaire. You can also choose single trip or multi-trip coverage, so you can save money on insurance even if you go in and out of Canada several times within a short time period. In other words, senior travellers should not assume they can't get comprehensive coverage for their time away; many insurers have such products available.
Research Your Options Online
For senior travellers who want peace of mind for their next trip down south, it's a good idea to review several different travel insurance policies. You don't have to look far. Find the latest travel insurance quotes on Rates.ca.