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CNBC
3 days ago
- Health
- CNBC
Why travel insurance is a must for seniors
Travel insurance can be a huge help to anyone, especially older travelers who may have a greater risk of health issues or unexpected travel disruptions and greater concerns about protecting their finances. CNBC Select explores why travel insurance is so important for seniors and the policies to consider if you're over 65. Whether you have private insurance or Medicare, your U.S. health care plan probably isn't valid abroad. That's where your travel insurance policy's medical coverage is invaluable. It will cover the cost of doctor's visits, hospital stays, prescriptions and more. If you need to be flown somewhere for treatment or get back home, a good policy will also cover the cost of medical evacuation. We recommend buying a policy with at least $100,000 in emergency medical coverage and $250,0000 in evacuation coverage. If you're visiting far-flung locales or are particularly concerned about your health, however, look at policies with higher limits. Travel Insured International has some of the highest limits we've seen. Plans cover up to $250,000 in emergency medical expenses and $1 million for evacuation or repatriation. Single-trip and multi-trip/annual policies and cruise insurance. Add-ons include Cancel for Any Reason coverage and a travel inconvenience benefit Add-on to Worldwide Trip Protector Deluxe or Platinum plan that reimburses 75% of nonrefundable costs when purchased within 21 days of initial trip payment Available if policy is purchased within 21 days of initial trip deposit. A standard travel insurance policy won't cover pre-existing conditions if they force you to change your plans or seek medical treatment. A pre-existing condition is any injury, illness or chronic condition that requires treatment or medication, including diabetes, arthritis, cardiac disease or COPD. If you file a claim, your provider will typically look back 60 to 180 days before you enrolled to see if there were any changes in your medical status. You can get a pre-existing condition waiver, however, which prevents your insurer from reviewing your records when processing a claim. Many companies offer waivers but require travelers to be medically able to travel and to buy their policy within two weeks of booking. We like Nationwide for its more generous 21-day window in which you can buy coverage and still receive a waiver. Single- and multi-trip plans and cruise insurance, plus add-ons like CFAR and rental car coverage. Add-on to Prime plan that reimburses 75% of nonrefundable trip costs if purchased within 21 days of booking (Not available in New York or Washington state) Available with single-trip plan purchased within 20 days of initial trip deposit (14 days for cruise insurance) Even if you don't have a medical issue on your trip, you might have to cancel your plans because of a health condition, death in the family or other emergency. Trip cancellation and interruption coverage are among the best reasons to get travel insurance. A comprehensive plan will reimburse up to 100% of your nonrefundable costs if you need to cancel and up to 150% if you need to cut your trip your policy's terms to see what events are covered, but common scenarios include: If you're concerned about your situation being covered or don't want to have to submit proof, a Cancel For Any Reason (CFAR) policy will refund a portion of your expenses, regardless of why you scraped your plans. Most CFAR plans limit you to 50% to 75% of your nonrefundable costs, but Allianz reimburses 80% of expenses. Single-trip and multi-trip/annual policies and a rental car plan. OneTrip Prime and Premier plans include coverage for one child 17 or younger when accompanying a covered adult. Reimburses 80% of nonrefundable trip costs if you cancel at least 48 hours before departure. Included if policy is purchased within 14 days of initial deposit Read our review of Allianz Travel Insurance Cruises are particularly popular with retirees, who enjoy the convenience, entertainment and relaxing atmosphere, and have the funds and free time to devote to an extended excursion. Viking, Holland America and Cunard all market cruises aimed at older come with specific risks, though, including the ship breaking down or you missing your connection. We love Seven Corners' cruise insurance policies, which include up to $250 a day for missed connections, $5,000 for an itinerary change and $250 each time the ship is disabled or misses a port of call. Plus, Seven Corners gives you 20 days to buy a policy with a pre-existing condition waiver and covers travelers up to age 99. The best way to estimate your costs is to request a quote Policies provide missed and delayed tour/cruise connection coverage. Cancel for any reason coverage and pre-existing conditions waiver are also available if you buy your plan within the specified time. ***CFAR and IFAR are subject to certain eligibility criteria and are not available in all states Yes Many travel insurance companies put age restrictions on their policies, limiting coverage to travelers under 79 or even 65. The cost of a policy can also be much more expensive for older travelers. Seven Corners will approve coverage for travelers up to age 99 and Faye and Travelex don't have any age restrictions at all. One single-trip plan with optional add-ons for pet care, adventure sports and damage to vacation rentals Up to 75% reimbursement of nonrefundable trip costs if purchased within 14 days of initial trip deposit. Available if policy is purchased within 14 days of initial trip deposit. Essential, Advantage and Ultimate policies plus last-minute Travel Med Go plan and standalone plans for emergency medical and flight coverage. Upgrades include rental car, pet and adventure activities coverage Upgrade with Ultimate plan covering 75% of nonrefundable trip costs if purchased within 21 days of initial deposit and 31 days of departure. Included with Ultimate plan if purchased within 21 days of initial deposit Travel insurance averages between 4% and 10% of your total nonrefundable trip expenses. Because of increased risk, seniors pay on the higher end of that range. CNBC Select gathered rate quotes for a 65-year-old traveler and a 30-year-old traveler taking the same one-week $3,000 excursion to London and looking for $250,000 in medical coverage and $1 million in evacuation coverage. While the 30-year-old's rate was about 4.4% of their nonrefundable trip expenses, the 65-year-old was quoted a rate of about 7.3%. There can be a significant difference in price among carriers, so using a travel insurance marketplace like Squaremouth can help you compare rates in minutes. SquareMouth is a travel insurance marketplace that allows you can compare top-rated providers, including Berkshire Hathaway, Nationwide, Seven Corners and Tin Leg. Yes Read our SquareMouth travel insurance review The best policy for any traveler depends on your specific needs, the length and location of your excursion and other factors. Our top picks for travel insurance for seniors includes Travel Insured International, Nationwide, Seven Corners, Allianz and Faye. Some companies allow you to buy a policy up until a day or two before your departure, although enrolling within two weeks of booking ensures you have access to a pre-existing condition waiver and other benefits. Travel insurance typically costs between 4% and 10% of your nonrefundable trip expenses. For seniors, a policy will more likely be on the higher end of that range. We found coverage for a 65-year-old on a one-week vacation in London was 7.3% of the total expense. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every travel insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of travel insurance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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Business Standard
14-05-2025
- Business
- Business Standard
Indo-Pak conflict cancels flights: Does travel insurance cover costs?
As geopolitical tensions rise, travellers wonder if their insurance will cover flight cancellations if airports shut down due to conflict. Here's what you need to know about travel insurance. During India's Operation Sindoor, over 300,000 flight tickets were cancelled between May 7 and May 12, aviation industry sources told Business Standard. This is a common practice during such conflicts across the world. Force majeure? But what happens to the fliers' money in such a scenario? Does travel insurance cover flight cancellations if airports shut down due to conflict? The answer is not that straightforward. Standard policies often exclude war-like situations 'Flight cancellations caused by operational issues or sudden airport closures are generally covered under standard travel insurance policies,' says Sameer Mathur, MD and founder, Roinet Solution. 'However, if the disruption is due to an officially declared war, that falls under exclusions,' he said. Insurers typically classify events like war, terrorism, or civil unrest under 'force majeure' or 'exclusions,' meaning claims under such circumstances may be denied. 'Most standard travel insurance policies clearly state that losses due to geopolitical conflicts, such as war or terrorism, are not covered,' adds Manish Kumar Goyal, CMD, Finkeda. Special add-ons could offer some relief While base policies may fall short, some specialised products offer limited protection. 'There are add-ons like Cancel for Any Reason (CFAR) that allow partial refunds even in such situations, but they must be purchased early and come at an extra cost,' Goyal explains. Key features of CFAR coverage: Must be purchased within a set window after booking travel Costs more than regular insurance Allows trip cancellation for almost any reason Reimburses a portion (typically 50–75 per cent) of non-refundable expenses However, Mathur clarifies that in most Indian policies, no standard plans include war-related disruptions, and no add-ons currently cover full cancellation costs due to geopolitical conflict. If you're caught in such a scenario, it's vital to document everything. 'Travelers should keep tickets, identity proofs, and a cancelled cheque handy to submit claims,' Mathur advises. 'Each case is subject to evaluation, but basic documentation is essential.' Bottom Line Travellers must check the policy document thoroughly before purchasing and consider add-ons if travelling to or near conflict-prone regions. In uncertain times, preparation and awareness are the best safeguards.
Daily Record
06-05-2025
- Daily Record
Brits urged to check crucial details to avoid extra costs on summer holidays
Brits are being urged to make a vital check when booking their summer holidays to avoid any unnecessary spending while they're away As the UK prepares for a summer getaway, numerous holidaymakers are about to book their holidays. But before you secure your spot on the next flight, it pays to consider a crucial step to avoid additional costs on holiday as unexpected setbacks, such as flight disruptions or health issues, can increase your holiday budget. Luckily, protecting yourself against these issues with a travel insurance plan is possible. And buying travel insurance early can be advantageous since coverage usually begins when you purchase, not just when you start your holiday. That means, if complications arise before departure, whether they are travel or health -related, you may be protected. Carefully reading the small print is crucial; every policy has exclusions that could impact your cover while abroad, reports the Express. ABI guidance advises: "When shopping around for travel insurance, make sure that the policy is right for your needs, and do not automatically opt for the cheapest. "This is especially important if you have any pre-existing medical conditions." The Foreign Office advises Britons to secure travel insurance when booking a holiday. Carry your policy details, including the policy number and emergency phone number, while travelling abroad. It's also a good idea to share these details with loved ones, in case they need to get in touch with your insurer on your behalf. Some holidaymakers might consider 'Cancel for Any Reason' (CFAR) insurance, which is often thought to provide a full refund if you have to cancel your trip. However, these policies can be pricier and usually only refund between 50% and 70% of the total trip cost. They also typically need to be bought well ahead of time to be valid. Remember, there's no such thing as a one-size-fits-all insurance policy, so it's worth taking the time to shop around to find the best fit for your needs. It comes after it emerged that blue and burgundy passport holders may find their holiday plans scuppered by a "secret" airport rule. UK tourists could be caught off guard by a lesser-known security regulation that could disrupt their travel even before they make it to the departure lounge. While most people's concerns revolve around lengthy security lines or strikes leading to missed flights, it is your smartphone that could throw a wrench in your holiday. Travel outfit WildPack American Summer Camps cautions against letting your mobile phone's battery die, as it could lead to being denied boarding or even having your device confiscated. You might be prohibited from boarding if your phone doesn't power on when asked. Airport personnel can request you demonstrate your device functions by turning it on. However, if it's broken or uncharged and you're unable to switch it on upon request, they may disallow it from being taken aboard the plane.
Daily Record
06-05-2025
- Daily Record
Brits heading abroad this summer should make simple check to avoid costly mistake
With the summer holidays just around the corner, many will be rushing to book their tickets so they can spend some time soaking in the sun. However, Brits should ensure they also make one vital check before jetting off With the summer holidays fast approaching, many are eager to secure their tickets for a sun-drenched getaway. Yet, before hastily proceeding to payment, Brits should remember to perform one crucial check that could save them from unexpected costs while abroad. A myriad of issues, such as flight delays, cancellations, or sudden health concerns, can arise even before you disembark. To mitigate these potential problems, securing a comprehensive travel insurance policy is a wise precaution. It's essential to arrange your travel insurance well in advance of your departure date, as most policies offer coverage from the moment of purchase, not just while you're overseas. This ensures that any disruptions like flight cancellations or medical issues related to pre-existing conditions may be covered. Check your insurance details Despite this, it's vital that you read all the small print before taking out a policy to ensure you're comfortable with any exclusion that could invalidate your cover while on abroad. Official guidance from the Association of British Insurers (ABI) states: "When shopping around for travel insurance, make sure that the policy is right for your needs, and do not automatically opt for the cheapest. "This is especially important if you have any pre-existing medical conditions." The Foreign Office similarly advises Brits to secure travel insurance as soon as they've booked their trip. It's also recommended to carry your insurance policy details, including the policy number and emergency assistance phone number, when travelling abroad. Sharing these details with friends and family is also advised in case they need to contact the insurer on your behalf. Some travellers may opt for 'Cancel for Any Reason' (CFAR) travel insurance, which many believe guarantees a full refund if you have to cancel your holiday. However, these specific policies can be pricier than other insurance options and could result in losing more money. Typically, CFAR policies refund between 50% to 70% of the total trip cost. These policies usually need to be purchased well ahead of time to be valid. It's crucial to remember that there isn't a one-size-fits-all insurance policy, so it's worth shopping around to find a policy that best fits your needs.
Zawya
30-04-2025
- Business
- Zawya
Jazeera Airways partners with HTS to introduce game changing products first time in the Middle East
Kuwait – Jazeera Airways and HTS, the B2B division of Hopper, have joined hands to introduce Cancel For Any Reason (CFAR) and Disruption Assistance For Any Reason (DAFAR) on the airline's direct channels. Jazeera will be the first airline in the Middle East to introduce these two fintech products. Slated to launch this year on the Jazeera Airways' mobile app and desktop channels, CFAR and DAFAR will offer a new level of flexibility and confidence for travelers. Cancel For Any Reason (CFAR) from HTS offers a la carte flexibility on non-refundable fares, truly for any reason. It allows travelers to instantly cancel their flight up to 24 hours before departure and receive a predetermined percentage (typically 80% or 100%) of their ticket cost back — no questions asked. Disruption Assistance For Any Reason (DAFAR) is a novel travel fintech product that addresses customer concerns around delays and cancellations on the day of travel. If a traveler's flight experiences a qualifying disruption (typically a delay of 2+ hours or cancellation on the day of travel), the passenger is immediately notified and can rebook a new flight to their destination on any airline. If they're not satisfied with their options, they can receive a 100% refund of their flight. Barathan Pasupathi, Chief Executive Officer, Jazeera Airways said, "At Jazeera Airways, our focus is on delivering innovative and customer-centric solutions that enhance the travel experience. Unexpected travel disruption and flexibility are key considerations for our passengers, and HTS' proven, data-driven approach enables us to address these needs effectively. With HTS's seamless integration and experience, we can further elevate convenience and reliability for our customers." This marks HTS' first partner in the Middle East, as the company continues to sign and launch partnerships across the globe. 'By offering premium add-ons that are popular and profitable, airlines can simultaneously delight customers and increase ancillary revenue,' said Dakota Smith, President & Co-Founder of Hopper. "As we continue to expand globally, we are thrilled to partner with Jazeera Airways to offer these solutions to millions of customers in the Middle East.' About Jazeera Airways Founded in 2004, Jazeera Airways is a leading low-cost carrier based in Kuwait, serving over 5 million passengers across a network of more than 60 destinations in the Middle East, Central and South Asia, Africa, and Europe. Dedicated to offering affordable, high-quality air travel, Jazeera Airways caters to business, leisure, religious, and weekend travelers, all while maintaining the highest standards of safety and customer service. Jazeera Airways currently operates a modern and efficient fleet of 24 Airbus A320ceo and A320neo aircraft, enabling it to optimize fuel efficiency and reduce environmental impact. 26 new aircraft from its order book, 18 A320neos and 8 A321neos are expected to arrive in 2027 onwards. The only publicly traded airline on the Kuwait Stock Exchange (Boursa Kuwait), Jazeera Airways was recognized as a Fortune 500 Arabia company and named 'Great Place to Work' in 2023. A trailblazer in the aviation sector, Jazeera Airways has introduced several digital initiatives to its customer experience and is one of the first to design, build, and operate its own terminal, Jazeera Terminal 5 (T5), at the Kuwait International Airport. For more information visit: About HTS HTS is the B2B division of Hopper, a global travel platform that uses data to bring transparency, flexibility, and savings to travelers globally. The company has developed several unique fintech ancillaries that address everything from pricing volatility to trip disruptions. Working with the world's leading banks, airlines and travel providers, HTS supercharges its partners' direct channels with its travel fintech, e-comm and payments products. To find out more about HTS, visit
