For senior citizens, enjoying retirement means traveling to visit their families. In one study, the risk of critical illnesses like cardiovascular disease, paralysis, cancer, renal failure, increased by 14% in seniors. Traveling could further exacerbate the medical conditions of these vulnerable populations.
In 2017, the elderly were the second-largest contributor to the global travel insurance market. Seniors, in the past year, have increasingly taken up globetrotting. The segment of seniors who travel has grown by 15%. The consensus is that opting for medical travel insurance for seniors is a must.
Source: Market Research
Here are a few things to note about a typical travel insurance policy in India for seniors.
Often, senior citizen-oriented travel insurance plans in India are available for those aged between 60 and 99. However, some travel insurance policies may apply to those younger or older than this range. The cover is mainly for medical or dental assistance in case of an emergency. Doctor’s bills, over the counter medication, medical procedures, and medical aids are all covered by one’s travel insurance policy. Since the plans are created by insurance companies to cater to senior citizens, they cater to different age-related risks than standard travel insurance plans.
For instance, some senior citizen-friendly plans cover medical evacuation expenses. A medical evacuation is a case in which an elderly individual must be flown back to India due to health reasons. Their travel insurance will cover the costs of any unexpected changes in travel plans. Another cover specific to seniors is cashless hospital admissions. Seniors often receive the benefit of cashless hospital admissions throughout the world with their travel insurance.
One other unforeseen emergency is the sudden demise of a senior individual while they are overseas. Naturally, this tragic outcome has a higher incidence in the elderly. A good travel insurance plan for senior citizens anticipates this possibility. Typically, a travel insurance policy provides the necessary cover to repatriate the mortal remains of the deceased back to India.
Senior citizens should also be aware of exclusions in their travel insurance plan. Exclusions vary as per the policies. For instance, some policies will not offer a cover for passport loss if it was due to personal negligence or from the passport being detained by customs. Other exclusions might be that delay coverage won’t apply to baggage negligence at Indian airports.
Seniors should ensure that all their pre existing diseases are covered under the plan before purchasing travel insurance. Certain travel insurance policies may not include all pre-existing illnesses. If this is the case, then the insurance company is unlikely to provide compensation in case of an emergency related to a preexisting condition in a foreign company. Hence, reading the fine print and comparing policies is the best way to buy medical travel insurance for seniors.
Pre-Policy Medical Tests
To buy medical insurance when traveling, one needs to file claims. The claims involve medical tests that show the policyholder’s current health to the insurance company. This procedure is mandatory for all but seniors of a certain age. Depending on the travel insurance policy chosen, senior citizens may or may not be required to provide medical tests. To avoid one’s claim from being rejected, however, it is important to check that all necessary tests, if needed, are completed.
Medical tests help the insurance company to know whether someone requires a cover for a preexisting condition (which may not be offered according to the policy) or an unexpected medical emergency. It is a way of avoiding any fraudulent transactions. Hence, plans that mandatorily require tests are more likely to provide reimbursement to seniors by honoring the claims.
In conclusion, the average travel insurance policy for seniors will offer age-specific coverage like medical repatriation,and some or no medical tests. However, seniors should carefully read the terms and conditions of their travel insurance policy before they purchase it.
If you, too, are all set to go globetrotting, Bajaj Allianz Travel Insurance on Finserv MARKETS offers a variety of plans that you can choose from based on the goal of your trip. Whether you’re part of a jet-setting family, a student going backpacking with friends or simply a solo-traveler, you can opt for travel insurance for road trips, international holidays, backpacking trips, and many others. For low premiums, hassle-free settlements, and all the benefits mentioned above, choose from the range of Bajaj Allianz Travel Plans, only on Finserv MARKETS.
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