Senior travel insurance in Australia. How does it work

Australians are impressively responsible when it comes to travel insurance with an estimated 8 in 10 travellers purchasing a policy before departing overseas.¹

For older Australians, not only is this a wise choice, but it is also one that needs to be carefully considered as many insurers shift their offerings based on age – no matter how healthy or physically fit you may be.

If you’re over 65 who is about to travel outside of Australia and is seeking guidance on senior travel insurance, this article will walk you through why it is important, what are the various insurance providers and types, inclusions and what to watch out for.

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Senior travel insurance in Australia

Senior travel insurance is travel insurance that covers older travellers. The age range for these types of policies can vary quite a bit between providers but it is usually for those between 65–99 years of age.

Similar to standard travel insurance policies in many ways, the key difference is that senior insurance factors in your age and the risk factors associated.

Insurers see older travellers as higher risk in terms of claims, especially those related to health, and recognise that they will often require higher claim limits as a result.

Some benefits of having insurance when travelling

Travel insurance is highly recommended for several reasons, even with a basic level of coverage you can expect to benefit from:

• Peace of mind and the confidence that comes from knowing help is available if something goes wrong or you’re sick or injured
• Access to quality healthcare services with reduced or no out-of-pocket costs
• Additional coverage for travel delays, theft, lost luggage and other travel-related mishaps
• A dedicated emergency helpline with access to nurses and doctors or staff that can help you locate a hospital with an English-speaking doctor²

What types of offers are available - what are your options

When it comes to selecting the right senior travel insurance policy, you have three options to choose from.

1. Work with a standard insurer

Not all insurance providers have a clear cut-off for coverage based on age. Many will offer coverage all the way up to 99 years of age and simply require you to perform a medical check-up and declare any pre-existing health conditions.

The cost of your policy is then calculated based on the provided information with an additional premium potentially charged to cover these.

2. Seek out a senior travel insurance specialist

In Australia, there are a few dedicated insurers for seniors. Opting to pursue a policy with these providers can make the process of securing insurance much simpler.

Typically, these types of insurers will offer policies with no upper age limit while also offering automatic coverage for most pre-existing medical conditions.

3. Contact your private health insurer

Another avenue that is often overlooked is speaking with your private health insurer. Several private health providers in Australia also offer coverage for overseas travel - including for things unrelated to your health.

Helpfully, as they are already familiar with your medical history the process of securing the right coverage is often simpler.

What are some conditions for getting senior travel insurance

To be eligible for seniors insurance in Australia providers will require you to meet one or more of the following conditions:

• Be an Australian citizen with a valid Australian medicare card or be currently living, working or studying in Australia under an approved visa
• Be aged between 65-99 years of age
• Be cleared for travel by your General Practitioner (GP)
• Be approved for declared pre-existing conditions and have paid any additional premiums for these as necessary

What are pre-existing medical conditions in insurance

Pre-existing medical conditions refer to any health concerns or conditions, physical or mental, that are known to you prior to getting an insurance policy.

Often excluded from coverage, these include diabetes, cancer, heart conditions, kidney or liver conditions, circulatory or blood conditions and mental health concerns among others.³

You may be able to obtain coverage for an additional premium, however, this will be at the discretion of the insurer.

If coverage for a pre-existing condition is declined, it is often still possible to purchase insurance, you simply aren’t covered for any events that occur as a result of this.

What to look for in a Health insurance package for seniors. Useful tips

As policies between providers can significantly vary in terms of benefits, coverage and pricing, we suggest using this checklist to help you find the right fit.

• Ensure that your age, duration of trip and destination are permitted and included in the policy pricing
• Confirm whether the policy also covers any family travelling with you
• Review whether any pre-existing conditions are included, excluded or require approval
• Determine if there is an excess and if so, how much and when is this paid?
• Check claim limits related to hospital care and repatriation
• Consider their available customer support and whether this is sufficient

As insurers offer a range of tiers in terms of coverage, exactly what is included or excluded in your chosen policy will differ. We’ll break this down for you next.

What is usually included in most senior travel insurance packages.

Below is a comparison of the different tiers of insurance and their key inclusions as offered by Covermore, a well-known provider of travel insurance in Australia that offers coverage up to 99 years of age. ⁴

As seen on 12 OCT 2023

Additional benefits and coverage are available within these tiers with some extras, such as cancellation or amendment, offering adjustable limits tailored to your needs. ⁴

Where to get senior travel insurance

As noted above, Covermore is one option for senior travel insurance in Australia. Other accredited insurance providers in this space include.

• National Seniors Insurance
• InsureandGo
• Australian Seniors Insurance
• Southern Cross Travel Insurance (SCT)
• Allianz
• Bupa
• Medibank

This list is by no means exhaustive and there are many trusted providers in Australia to choose from. Just be sure to do your research and check the fine print before purchasing your policy.

Keep in mind

Insurance can be a little bit of a minefield at times with a huge number of terms and conditions associated and variations in what's covered.

To avoid complications with regard to claims or securing assistance while travelling it's important to do the following.

• Check for age limitations and exclusions in cover related to this before purchasing a policy
• Where exclusions apply, ask about the possibility of paying an additional premium to cover what is necessary
• Be upfront and honestly disclose to the best of your knowledge any health conditions and treatment details. Failure to do so could see you denied help from your insurer during a crisis.
• Shop around. The most expensive policy does not necessarily mean the best, compare coverage and service as a priority

Lastly, be sure to read the product disclosure statement and policy agreement in detail. This is the best way to familiarise yourself with what you are covered for and learn what is expected of you by your insurer to uphold this coverage.

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