Annual Trip Insurance Policies
 

We are 74 olds with pre-existing conditions & generally get trip insurance quickly after booking any new trip. Rates are getting high for individual trips at our age. Any experiences with Annual plans?

Much depends upon in which country you live. I am based in the UK where there is a huge market for travel insurance because few travel with out it. Rates do rise with age, exponentially , once past 70 for obvious reasons. That said, some pre existing conditions hour be factored in to the standard rates. e.g few people past that age will not have hypertension or high cholesterol. It is essential to disclose EVERY condition no matter how minor it may seem unless expressly stated in te T&C that you don't need to. My in laws hit 80 this year and I was quizzing them on there travel insurance for a forthcoming trip. FIL assured us that he had fully disclosed everything (which he had) and that he was fully covered (which he most definitely wasn't!). Turns out that he didn't want to pay the higher premium. The lower premium which excluded any medical conditions caused by hypertension of high cholesterol which expressly included cardiac arrest, stroke etc. etc. i.e. the most probable causes of death in that age group. Effectively he was covered for travel delays, loss of baggage, accidents etc all of which were minoring finaclial terms compared with the cost of hospitalisation, treatments and repatriation in te event of death. MIL was not best pleased when she found out!

In terms of annual plans v single trip plans, I just renewed mine and did look at both as we are not travelling as often as we used to. A single trip policy for 30 days cost more than an annual policy covering multiple trips of 30 days in a one year period.

If you do have any specific existing conditions such as diabetes ,previous heart attacks, stroke or cancer etc.there are often specialist insurers that can prove more cost effective

I agree with Crellston that insurance plans vary a great deal depending on your country of residence. We are Canadians and have had an annual plan since my husband retired and was able to sign on to a group extended health plan for his unions' retirees. It has been wonderful for us over the years. Although we have never had to use it, except once for an emergency dental appointment, we also have never had to add insurance costs to the cost of our trip. It is essential, however to understand the terms of any insurance policy. Most importantly for me a preexisting condition has to have been stable for a specified time, usually three months, prior to booking the trip, with no investigations underway. As we age we have to pay close attention and I make a point of re-reading the fine print before I book an expensive trip. I travelled once when I was awaiting surgery for a condition that could have required emergency treatment, and I went knowing I wouldn't be covered if that occurred.. It was a calculated risk, post covid when I was desperate to visit my daughter and family overseas, and I had a general idea how much I could be paying out of pocket. I would never travel to the US without coverage as costs can be astronomical.