Travel Insurance for Retirees

Senior couple standing beside the wall near a beach

For many, retirement is a period of exploration, fun, and seeking out new experiences. Without the constraint of a full-time job or small children to look after, retirees are free to travel at their leisure.

While traveling the world is an exciting prospect, retiree travel and medical insurance coverage is essential for those who are retired and continue to travel. Traveling as a retiree means taking extra precautions and having peace of mind while away from home or when making a foreign country your new home.

With the right travel insurance policy, retirees can enjoy their time away without having to worry about unexpected costs and can get the same level of health insurance coverage that they have come to rely on at home.

When it comes to travel insurance for retirees, there are a few key points to consider. You’ll need to determine what level of coverage you need for areas you plan to stay in, along with coverage to ensure you can get the healthcare you need.

old man sailing boat

Finding the Coverage You Need

The most important thing to remember is that selecting the right type of coverage is essential. You’ll want to make sure your policy offers enough coverage in case anything unexpected were to happen while on vacation, such as a flight delay or medical expenses should you become ill or injured during your trip.

The type of coverage you need will depend on where you plan to go and how long you are staying. If you’re planning a longer trip or a more costly one, it’s important to make sure the coverage you select is adequate for your needs.

Be sure to look at all of your options carefully before making a decision so that you know exactly what kind of coverage you’ll be getting. When choosing a plan, it’s important to consider the length of your trip and any activities you may be participating in that could increase your risk of injury or sickness.

It’s also important to review the exclusions on any policies that you’re considering. Most insurance policies will have some form of exclusion, and it is important to know exactly what these are so that you can make sure they don’t affect your travel plans. Make sure to read over the details carefully before making a final decision.

old couples walking near the sea

Get Coverage for Where You’re Going

When choosing a travel health insurance plan, it’s important to make yourself aware of any laws or regulations in the country you are travelling to before purchasing an insurance policy.

Some countries, international cruises, and regional areas may require certain types of insurance coverage in order for non-citizens to visit or reside in that country. For example, the Schengen region, which is comprised of 27 European countries, requires travelers to obtain travel insurance prior to obtaining a visa to visit.

As a result, it’s a good idea to research whether insurance is required to visit a foreign country and what policy limits or stipulations must be met prior to selecting a policy.

Additionally, some countries have better healthcare infrastructure than others. You may want to purchase a more comprehensive health and travel insurance plan in a country that is not well-known for universal healthcare, or for those without a large network of medical facilities compared to what you are used to in your home country.

traveling person looking at plane

Types of Travel Insurance

Retiree travel insurance is designed to give retirees the peace of mind that comes with knowing their travels are covered no matter what happens. Retires have a few different options when it comes to choosing a travel insurance plan to cover them while outside of their home country.

Travel insurance can be used to protect your investments in your travel plans, international health insurance offers comprehensive health care coverage, and emergency medical travel insurance can provide you with medical care and financial security should something unexpected occur while you are away from home.

We recommend international health insurance for most retirees to ensure that they have adequate health care coverage, no matter where they are living or what may occur. The peace of mind that comes with a comprehensive health care plan can’t be underestimated. Travel insurance is also a great way to protect your travel plans and prevent financial loss if plans change or get altered at the last minute.

man counting coins

Compare Policy Costs

Typically, the older you are and the more health concerns or pre-existing conditions you have when you purchase travel insurance, the higher your premium will be. Even though retirees may have more medical and financial reasons to be covered while traveling, they can still find an affordable policy.

It’s best to select an insurance policy that will fully cover you, even if it comes at a slightly higher cost. Any medical care costs that are not covered in your insurance policy will only serve to cut into your retirement savings and your travel fund!

The best way to ensure you are getting the best coverage for your money is to compare companies and plans with equivalent benefits, policy limits and terms, and premiums. By following these tips and researching your options carefully, you can find a policy that meets your needs while also staying within budget.

an old man trucking in wood's

Compare Insurance Companies

If you aren’t sure exactly what coverage you need or want personalized tips on getting the best price on health and travel insurance, it can be helpful to compare the various companies that offer international travel and medical insurance.

Friendly Global has over 25 years of unbiased insurance advisement and can help you find the right company with the benefits you need, whether you are planning to retire abroad and explore the world or just want to see the world at your own pace. We’ve done a fair bit of traveling ourselves and researched the best insurance companies based on their ratings, offerings, history of paying for medical bills, and are here to help customers compare insurance benefits to buy the right coverage.

Friendly Global is ACA certified, fully licensed, and contracted with leading insurance carriers, so you know you are getting the best coverage options and advice from travel insurance experts.

We are committed to simplifying the process of finding reliable international health and travel insurance for retirees and cater to a wide demographic of customers. To learn more about the top-rated insurance companies and compare benefits with our helpful comparison chart, take our easy online insurance quiz!