Senior citizens, due to their advanced age, have a higher risk of getting into medical emergencies. Nevertheless, the love for travel remains instilled in this social segment just like anyone else, and rightly so. Why be deprived of the best of life just because you are in your advanced age? So, to make the travel dreams of senior citizens a reality and to ensure a level of comfort and financial security during a trip, senior citizen travel insurance policies were introduced. These are customised travel insurance policies that cater to special risk coverage requirements of older people travelling to their desired locations.
These travel insurance plans are available for both domestic and international trips and are provided by several general insurance companies in India. With varying features and coverages these policies bring, it is pertinent to assess them based on a few essential factors. Here is a list of important things you should consider before the selection and purchase of a suitable travel insurance policy for senior citizens.
7 Essential Factors to Consider Before Purchasing a Senior Citizen Travel Insurance
- Types of coverage available
Usually, a senior citizen travel insurance provides extensive coverage for various travel risks. Some popular ones include journey-related losses like delay or cancellation of booked flights or loss of baggage, emergency medical assistance, cashless claims, emergency cash assistance, assistance for loss of documents, etc. An extensive list of the coverage types and the assistance available for medical emergencies primarily determine the suitability of a policy.
- Conditions related to pre-existing illnesses
In the case of an ideal travel insurance plan for senior citizens, the medical coverage should include various pre-existing illnesses. Not all would be included in many of the policies. So, you should check the inclusions to see if your pre-existing condition is covered and purchase a travel insurance policy accordingly.
- Age limitations and policy renewal
Some senior citizen travel insurance plans come with limitations to the minimum and maximum age covered. It is thus essential to check for the applicability of such restrictions and find a suitable plan that best fits your age. Similarly, requirements related to timely policy renewal also exist, typically where the trip lasts for more than the specified period.
- Waiting period for various illnesses
Under the medical coverage of these travel insurance policies, clauses also exist related to waiting periods for certain illnesses. These waiting periods function similarly to those under health insurance plans. You need to wait for the period to expire before making claims for specific illnesses.
- Co-payment and sub-limit caps
To make up for the increased travel risks of individuals in their advanced age, insurance providers also include the clause of co-payment. This requires the insured to contribute in part to the total amount claimed, for the remaining to be processed. Also, there are caps and sub-limits to certain coverage benefits, which you must be aware of before purchasing the travel cover.
- Sum assured and premium payable
You must also be aware of the sum insured under the senior citizen travel insurance plan. A high sum assured usually fits the increasing risks of travel that older individuals undertake. However, it also creates a load on the policy premium and thus must be assessed properly before going forward.
- Policy exclusions
Another crucial thing to check is the exclusions in these travel insurance policies for senior citizens. This can often be different from the regular plans. Keeping yourself informed of such exclusions helps plan for the travel better.
Once you have made these essential considerations, it becomes easy to find and purchase the best senior citizen travel insurance policy. You can also compare the policy offers available from different insurance providers and choose them based on their coverage merits and affordability. When selecting a general insurance company for buying travel insurance, it is advisable to check its market reputation and the claim settlement ratio to identify how easily and early it settles claims. It is also crucial to check the network hospitals of the insurer to make cashless claims without any difficulty. Accordingly, you can go for an easy online policy purchase.