Travel insurance can be termed as a protection or a cover given to an individual or a group of people for any travel inconveniences, accidents, and emergencies. If you are of the opinion that travel insurance isn’t mandatory, think again.
Most of us understand the importance of having travel insurance while we are travelling overseas. Let us discuss why a senior travel insurance plan is a must before starting your overseas trip.
Who can opt for senior travel insurance?
Any individual can opt for an insurance plan. Insurance companies have different age limits that are offered for different plans. The benefits and compensation options for the elderly varies depending on the plan they choose. While a few insurance companies consider 60 years (for their senior travel insurance), others consider 65 years.
Types of travel insurance
There are two types of insurance available. You can either opt for a single trip or a multi-trip insurance plans. A single trip travel plan can be opted when you are an occasional traveller or go on fewer trips a year. If you are a frequent traveller, you can opt for a multi-trip plan.
Please note that the benefits will vary from one insurance company to the other. Some of the common benefits offered by insurance companies include the following:
- Journey delay/flight delay compensations
- You will get 24x7 worldwide support
- Accidental death benefit (based on your plan)
- Disability and medical benefits
- Compensation for laptop loss
- Medical evacuation benefits
- If your journey is cancelled or there is a delay, you are eligible for a compensation
- Baggage delay and baggage loss is compensated
What is covered in my senior travel insurance plan?
The coverage offered is mainly dependent on the insurance plan you have opted for. Some of the common covers provided by the insurance companies are listed below:
- Pre-departure inconveniences (cancellation of your trip, alteration of your trip, replacement of traveller, travel cancellation due to insolvency)
- Medical emergencies while on the trip/after the insurance covered is in force
- Travel delay
- Personal liability
- Lost/misplaced baggage
- Personal accident
- Pre-existing diseases: If you are already suffering from any pre-existing health condition before the commencement of your overseas trip, you will not get coverage for the problems that could arise or manifest further from your existing health condition.
- Most insurance companies will not provide cover for injuries or accidents resulting from terrorism attack or war-like scenarios when you are overseas.
- Any road accident or injury sustained under the influence of alcohol or drugs will not be covered in the policy.
- If you are travelling overseas for the purpose of undergoing any cosmetic treatment, this will not be covered.
Insurance premium cost
A basic travel insurance plan is always cheaper. However, if you are opting for a travel plan that includes all your family members, the costs may go up. If you are travelling with family members, you can opt for a family plan instead that will cover all of you, although the cover for persons above 70 may be different/lower.
List of insurance companies that offer senior travel insurance in Singapore
- Tokio Marine
- Allianz Global Assistance
- Hong Leong Group
- American Express
- Direct Asia
How to apply for travel insurance?
Insurance companies in Singapore offer different travel insurance plans. You will need to compare these plans and opt for a plan that suits your budget and needs. Some insurance companies also offer add-on benefits or optional riders for an additional premium. These (add-on benefits) will give you the extra cover you need apart from the normal coverage available in the insurance policy.
Before finalising your plan purchase, it is advisable to compare all insurance plans that are currently available in the market. Once you decide on the plan, you will need to visit the respective insurance company’s website and follow the on-screen steps to purchase the policy online.
Elders travel insurance – FAQs
Q. What happens if my existing medical condition is not covered by my travel insurance policy?
A. If your existing medical condition is not covered by your plan, then any health related incidents caused by this medical condition will not be covered. Coverage for things such as loss of luggage and documents (as per the terms of the policy) will still be provided.
Q. What do I do if I lose my medication?
A. Always make sure that you carry your prescription along with you so that you can purchase your medication if you lose it. If you don’t have your prescription, then keep your doctor’s phone number handy so that you can receive medical assistance.
Q. If I am a senior traveller, is there a specific policy I need to buy before travelling?
A. There is no particular policy that you should buy. However, make sure that you have coverage for aspects of travel that are important to you.
Q. Is it possible to buy an insurance policy if I am already overseas?
A. No. You need to purchase your policy before you depart for your trip from Singapore.
Q. Is a medical certificate or information from my doctor needed if I make a claim?
A. Yes, most insurance providers will require you to produce a medical certificate or specialist report of your health or of the person whose health problem has resulted in the claim.