From bucket-list trips to impromptu getaways, travel can represent endless possibilities for adventure, especially among mature travellers who, after years in the working world, are fulfilling long-held dreams of discovering the globe.
On average, 14 per cent of Canadians aged 55+ plan trips from two to six months in advance. When they do, they tend to splurge, spending close to $4,000 annually on travel experiences.
These may vary from seasonal trips down south to more extravagant adventures such as culinary explorations of Southeast Asia, eco-excursions in the Patagonian rainforest and luxury cruises along the Volga River. While mature travellers might not realize it, preparing for unexpected events is as important as planning for those journeys they have been looking forward to for a lifetime.
More than medical insurance
When seniors plan a holiday months ahead, they may only think about securing medical travel protection for that one “big trip”. But what if they also decide to hop across the border for the weekend, snap up a last-minute seat sale, or drop a small fortune on another bucket-list trip within the same year?
“Fortunately, seniors are among the most aware of the medical benefits of travel protection, and many do plan accordingly,” says Dan Keon, vice-president, market management. “However, they also need to view their getaways as investments to be protected from financial loss – much like auto, home or life insurance.”
An easy, convenient and affordable way to also cover those spontaneous trips is with multi-trip travel insurance. Travellers who take two or more trips in a year can benefit from the fact that one policy provides 365 days’ worth of coverage on unlimited trips of up to 125 days each. For seniors, that also means the freedom, flexibility and security of knowing they’ll get the help they need for planned – and unplanned – travel.
Expect the unexpected
Besides thinking about what could happen during their trip, mature travellers also need to consider that the time between when they book and when they arrive at their destination increases the possibility of something happening to jeopardize their investment. Sudden and unforeseen health, legal, external and work-related situations could ruin their exotic 16-day trip to Borneo, Malaysia and Singapore, for example, and force them to forfeit $16,000 in pre-paid costs for flights, hotels, tours, and more.
Trip cancellation insurance can help offset such losses as well as out-of-pocket expenses for meals and accommodations when a flight has been delayed or in the event of a missed connection.
“We always encourage Canadians of all ages to review their credit card, workplace and any other coverage they may have before travelling to understand their benefits, be they for emergency hospital and medical travel insurance or trip cancellation and interruption insurance,” says Keon. “We also recommend consulting a trusted travel insurance advisor to confirm they have appropriate coverage in place for their travels.”
With seniors starting to plan their winter getaways now, this is also the time to ensure they have the right protection to help them enjoy the experience of their dreams.
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