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Travel Insurance for Those in Their Silver Years

Finally planning a trip with your parents or grandparents after over two years of wanderlust hiatus? It is true that mature travellers are itching to get back out and travel again.

According to AARP’s 2022 Travel Trends report, 66% of people over 70 years old are prepared and wanting to travel this year. Of course, travel destinations should depend on an individual medical assessment, as well as the capacities of the travelling companions.

We’re pretty sure you’ve got the itinerary planning all handled, but you might not have the time to consider which travel insurance to get to cover the older folks on your trip.

Is there a difference?

Here’s something not everyone might notice; insurers actually drastically reduce their travel insurance coverage for those 70 years old and above. This poses a problem as you would most likely want an insurance that ideally covers as much as possible.

Pre-existing health conditions like diabetes or heart ailments are becoming increasingly common among all age-groups, especially in a post-pandemic world. But these conditions still predominantly fall in the latter age groups, to which not all travel insurance would cover fully.

To add to that, there are some plans that do not have COVID-19 coverage, which is rather strange considering this post-pandemic world. Others have reduced medical expenses overseas and in Singapore.

Read More: Look for travel insurance for the whole family too

Elderly travel insurance refers to plans that cater to those specifically above the age of 70.

Top 5 senior travel insurance

We’ve compiled the key benefits of the five most appropriate elderly travel insurance plans. Do note that the amounts listed cover those 70 years and above.

Travel InsuranceEmergency medical evacuationMedical expenses (overseas)
Medical expenses (Singapore)
NTUC PreX Basic$300,000* (overseas medical & evacuation combined$2,000
Singlife with Aviva Lite$250,000 (overseas medical & evacuation combined$10,000
OCBC Starter$1,000,000$90,000$4,500
Citibank DirectAsia Classic$250,000$100,000$2,500
Allianz Silver$1,000,000$1,000,000N.A

*Sublimit of $100,000 for pre-existing medical conditions

Confused about all the different terminologies? Fret not, we’ve got you covered:

Emergency medical evacuation: The cost of sending you home for treatment via an air ambulance in an emergency.

Medical expenses (overseas): Reimbursement for hospital and medical expenses incurred overseas during your trip.

Medical expenses (Singapore): Reimbursement for medical expenses in Singapore when you return from your trip (within a stipulated time frame).

  1. NTUC PreX Basic

Probably the largest travel insurer in Singapore, NTUC needs no introduction. We’ll focus on the PreX plan as it covers pre-existing medical conditions like diabetes and high blood pressure, which is definitely a big plus for seniors. Aside from the $300,000 combined overseas medical & evacuation coverage, here are the other coverage limits:

Personal accident (death or TPD): $100,000

Medical expenses (Singapore): $2,000

Chiropractor or TCM: $500

Medical expenses due to COVID-19 (overseas): $150,000

Emergency medical evacuation due to COVID-19: $150,000

One thing to note is that NTUC Enhance PreX plans are expensive. For comparison, a week’s coverage in ASEAN starts from $102 – very much higher than the usual $30+ you’d usually pay for regular travel insurance. That said, NTUC is the only insurer that provides adequate coverage for seniors with medical conditions.

  1. Singlife with Aviva Lite

This travel insurance is probably the most neutral of the list as its medical coverage does not discriminate against our senior travellers at all. On top of the $250,000 combined overseas medical & evacuation coverage, here are the other coverage limits:

Personal accident (death or TPD): $10,000

Medical expenses (Singapore): $10,000

Chiropractor or TCM: $250

Medical expenses due to COVID-19 (overseas): $50,000

Emergency medical evacuation due to COVID-19: $250,000

While the personal accident limit might be less than ideal, the local medical expenses limit is very high for seniors, which comes in very handy should there be any ailments post-holiday. To add to that, Aviva travel insurance is relatively affordable as well. Enjoy a 30% discount should you or an immediate family member be an existing Aviva policyholder.

  1. OCBC Starter

It might seem strange to associate a bank with travel insurance but OCBC is legit as it is insured by Great Eastern, OCBC’s insurance arm.

Off the bat, OCBC travel insurance has the highest emergency medical evacuation benefit of $1,000,000. Separately, this plan comes with $90,000 of medical expenses (overseas). Here are the other coverage limits:

Personal accident (death or TPD): $75,000

Medical expenses (Singapore): $90,000

Chiropractor or TCM: $600

Medical expenses due to COVID-19 (overseas): $7,500* (upgrade to Essential/Ultimate plans)

Emergency medical evacuation due to COVID-19: N.A

You should consider this plan if the medical infrastructure at your destination is under or undeveloped. When faced with any medical emergency, you’re more likely to be evacuated home than rushed to their nearest hospital.

OCBC travel insurance plans are rather affordable in part due to discounts but the cheapest Starter plan does not offer any COVID-19 coverage. Upgrade to the Essential and Ultimate plans for COVID-19 benefits.

  1. Citibank DirectAsia Classic

Citi is another bank that offers surprisingly good travel insurance for senior travellers. They partner with Direct Asia for their Trip Saviour plans, which are split into 3 tiers – Classic, Deluxe and Platinum.

We will look at the cheapest Classic plan, which comes with $250,000 of emergency medical evacuation and $100,000 of medical expenses (overseas). Here are the other coverage limits:

Personal accident (death or TPD): $75,000

Medical expenses (Singapore): $2,500

Chiropractor or TCM: $300

Medical expenses due to COVID-19 (overseas): N.A

Emergency medical evacuation due to COVID-19: N.A

Unfortunately, all 3 tiers of Trip Saviour plans do not include COVID-19 coverage and it is not an optional add-on. To add to that, the plans are a little on the pricier side unless there’s a good promotion going on.

  1. Allianz Silver

Although not as popular as the other brands in this list, Allianz is a powerhouse in Europe. Unfortunately, the cheapest tier of their travel insurance (Bronze) is rather scant. As such, we’ll focus on the next best option, which is their mid-tier Silver plan that comes with $100,000 of emergency medical evacuation and $1,000,000 of medical expenses (overseas). Here are the other coverage limits:

Personal accident (death or TPD): $80,000

Medical expenses (Singapore): N.A

Chiropractor or TCM: N.A

Medical expenses due to COVID-19 (overseas): $1,000,000

Emergency medical evacuation due to COVID-19: $1,000,000

What sets Allianz apart from the other insurers is their plans’ benefit limits are the same across all age groups. However, this plan does not cover pre-existing conditions and it does not cover medical expenses when you return to Singapore. The redeeming quality is the high coverage for COVID-related and overseas medical expenses.

Plans may fail, but never fail to plan

Planning ahead is key for traveling with your elderly folk and reducing stress for everyone. That said, although thinking ahead provides a crucial framework, being flexible is equally important.

Sure, you might need to adapt and change your itinerary along the way, but what truly matters is having a good time and creating memories together.

Click here to request for the most appropriate elderly travel insurance for your family’s needs and safe travels!

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