Travel insurance for seniors - Guide to coverage, providers, and more

For seniors planning a trip, travel insurance is an essential safeguard. Medical emergencies, cancellations, and lost belongings can quickly become costly setbacks, so choosing the right policy helps protect you against the financial hardship these events can bring.

This guide is going to take a look at travel insurance specifically for seniors, looking at what is and isn’t typically covered, some popular providers, and a few things to be aware of like pricing and the impact of pre-existing conditions. As a bonus we’ll also introduce you to Wise, a travel companion to help you save money when spending abroad.

What does travel insurance cover?

Travel insurance is there to cover those unexpected events that can take place when you travel. What it specifically covers depends on the provider, but these are some things you can expect to see covered in a comprehensive travel insurance policy.

• Emergency medical expenses if you fall, are unwell or injured
• Emergency dental care
• Trip cancellations and interruptions in case illness or unforeseen events force you to cancel
• Lost or stolen belongings including luggage, passports and travel documents
• Missed connections
• Emergency medical evacuation, including needing to be repatriated home
• Liability coverage

There also tend to be add ons that expand your coverage, for example cruise cover.

What typically isn’t covered by travel insurance

The policy disclosure statement (PDS) for an insurance policy outlines everything that is and isn’t covered, including general exclusions. It’s something you want to read carefully before buying a policy, because it’s also where you’ll find any age limits that apply.

Common things that appear on the list of exclusions include the following.

• Pre-existing medical conditions unless it was approved for coverage in advance
• Chronic illness
• Self-inflicted injuries
• Travelling abroad specifically to seek medical treatment
• Travelling against the advice of a doctor or relevant medical professional
• Natural disasters, terrorism, pandemics or war

Things to know when buying travel insurance for seniors

When deciding which is the best travel insurance policy for a senior, there are a few key factors to consider.

• The limits that apply to medical coverage
• What excess needs to be paid to access cover
• Any age restrictions that apply
• If and how pre-existing conditions are covered
• How medical evacuations work if you needed to be moved to somewhere with better facilities
• How the claims process works and what claim support there is for medical emergencies

Best travel insurance providers for seniors in Australia

To get you started in your search for Australian seniors travel insurance, here’s a few popular companies offering international coverage for seniors and how they compare.

Pre-existing conditions and travel insurance

Most travel insurance providers don’t cover pre-existing conditions unless it’s automatically covered under their set list of pre-existing conditions or coverage has specifically been sought and granted prior to departing for the trip.

Some insurers will cover pre-existing conditions at an additional cost, while others aren’t willing to take the risk. When that happens you could choose to take the risk and accept that you would be paying if something happened in connection to the pre-existing condition, or search for other insurance options that would be willing to cover it. Even if you’re not able to get your pre-existing condition covered it’s still a good idea to get travel insurance, as you’ll still be covered for everything else.

Depending on where you’re travelling, a bilateral agreement between Australia and the destination country may also be in place that allows you to use the public hospital system for emergencies without paying. This includes for emergencies arising from pre-existing conditions.

How age affects policy coverage and pricing

Age can impact whether or not you can even get travel insurance coverage, with some companies imposing age limits on people aged over 70, 80 or 90. Premiums can also increase with age, for example this is what Fast Cover quoted for a 2 week comprehensive travel insurance policy for a trip to the UK.

As you can see the cost for seniors is significantly higher than young people and this could go up even more if you need coverage for a cruise or pre-existing condition. If you want to try to cut the cost a bit, consider these tips.

• Compare providers to see who offers the most competitively priced travel insurance for seniors
• Increase the excess as this can lower the premium
• If you’re a frequent traveller consider whether an annual multi-trip policy would be cheaper over time
• See if you’re eligible for complimentary credit card travel insurance
• Check for family or couples discounts

Emergency medical evacuation

If something were to go wrong medically and you were somewhere remote or with limited healthcare options, you want to ensure you have coverage for medical repatriation. Without it, you could be looking at thousands of dollars in medical transportation costs.

Some travel insurance policies come with this as part of their comprehensive policy so be sure to check the benefits in the PDS. If for some reason it’s not available to you it’s also possible to buy international evacuation from specialist companies like Global Rescue.

Travelling somewhere? Safeguard yourself from hidden fees with Wise

Traveling with peace of mind starts with the right insurance. Once you’ve got your travel insurance lined up, it’s time to work out the best way to spend when you’re overseas. Meet the Wise account and card.

Open a Wise account online or in the Wise app, add money in AUD right from your bank account, and switch to any of the supported 40+ currencies with the mid-market exchange rate. That can mean you save significantly compared to using your bank, as you’ll avoid foreign transaction fees and rest assured you’re getting one of the fairest exchange rates out there along with low, transparent fees. You’ll also be able to get a linked Wise card to use for contactless payments, add your card to a wallet like Apple Pay, or make ATM withdrawals when you need cash. Since it's a debit card, there are no interest charges or late fees, just straightforward, hassle-free spending wherever you go.

No matter where you’re headed, take Wise with you, and save up to 7x when you spend internationally.

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Savings claim based on our rates vs. selected Australian banks and other similar providers in Jan 2025. To learn more, please visit https://wise.com/au/compare

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