Many enjoy travelling in their retirement years, and those who are physically and financially capable may even have multiple trips every year. What is the secret to an enjoyable trip? While some may say travelling is all about having a good time, we believe that having a suitable travel insurance policy in place will give you the peace of mind you need to fully enjoy every memorable, fun-filled moment.
However, some travellers may take out a policy without fully understanding its coverage, terms and suitability. For elderlies, careful consideration should be given to the following when taking out a travel insurance policy.
Retirees who travel multiple times a year may consider taking out an annual travel insurance plan rather than a single-trip one. However, they should note that an annual travel insurance plan does not provide a 365-day insured period as most of these plans have a designated insured period. Also, the maximum benefit for certain items in an annual travel insurance plan may be less than that of a single-trip travel insurance plan.
Many travel insurance plans have an upper age limit ranging from 70 to 85 years old. The elderly may have less coverage than younger people under the same plan, such as the maximum death benefit and benefits on medical expenses.
Like any other insurance, you should be sure that the coverage meets your needs. You should pay attention to the maximum benefit for medical expenses, including emergency evacuation and repatriation services, hospital deposits, and treatment expenses after returning to Hong Kong. Exclusions and any age limits on protection for high-risk sports and activities should never be overlooked.
Travel insurance protection usually takes effect immediately upon purchase and covers certain events causing delays or cancellations. Therefore, you should take out a policy beforehand and never wait until the last minute.
A proper travel insurance policy can protect you against unexpected medical expenses and property loss, so you should always choose carefully.
13 June 2024
