Traveling exposes us to the world’s beauty and broadens our horizons. But it’s essential to have protection, especially when healthcare abroad can empty pockets. For those over 65, travel insurance is indispensable. Instead of procuring separate policies, why not use credit card travel insurance? It’s often complimentary and just as comprehensive, albeit with certain nuances.
Best Credit Card for Travel Insurance Over 65
There are numerous cards out there, but some stand out for their travel insurance provisions. Let’s explore the top contenders:
1. Chase Sapphire Reserve®
- Trip cancellation: Up to $10,000 per person and $20,000 per trip with a maximum benefit of $40,000 in a 12-month period.
- Lost luggage: Cover of up to $3,000 per passenger.
- Rental car insurance: Up to $75,000 coverage.
2. Chase Sapphire Preferred® Card
| Benefit | Coverage |
| Trip delay | Up to $500 per ticket for delays exceeding 12 hours. |
| Lost luggage | Up to $3,000 per passenger. |
| Rental car insurance | Up to the actual cash value of the car. |
3. Marriott Bonvoy Brilliant® American Express® Card
- Trip delay insurance: Coverage of up to $500 per trip with a maximum yearly benefit of $1,000.
- Trip cancellation: Up to $10,000 per trip with a maximum of $20,000 annually.
- Annual Fee: $650.
4. Marriott Bonvoy Boundless® Credit Card
- Baggage delay: Daily coverage of $100 for five days in the case of delays over six hours.
- Damaged luggage: Compensation of up to $3,000 per passenger.
- Annual Fee: $125
5. Southwest Rapid Rewards® Plus Credit Card
Offering benefits like baggage delay compensation of up to $100 for three days and lost luggage coverage of up to $3,000 per passenger, this card ensures you’re covered during your travels.
6. United℠ Explorer Card
With robust protections including trip cancellation coverage of up to $6,000 per trip and travel accident insurance of up to $500,000, the United Explorer Card is a strong contender in this list.
How Does Travel Insurance Work on Credit Cards?
Each credit card differs in its travel insurance provisions. Generally, to avail of the benefits, you must make the relevant travel purchase using the card. In case of mishaps, cardholders must file a claim, providing necessary evidence supporting their claims.
Pros and Cons of Credit Card Travel Insurance
Pros:
- Often no additional charge (though high annual fees might apply).
- Automatically applies when travel is booked with the card.
- Sufficient coverage for most needs.
Cons:
- Not customizable.
- Policy limits might not match your requirements.
- Doesn’t cover as many activities as independent insurance.
How To Pick a Credit Card for Travel Insurance?
Having travel insurance is reassuring. But, remember, not all credit card insurance is made equal. Here’s what you should consider:
- Type of Benefits: Understand what’s most crucial for you. Some cards may only offer basic benefits.
- The extent of Coverage: Assess the coverage limits against your travel expenses. You may need supplemental policies in some cases.
- Applicability: Ensure your card’s insurance applies when you need it. For instance, rental car coverage might not cover all vehicle types.
Most importantly, always scrutinize the fine print. This could be the distinction between a stress-free trip and out-of-pocket expenses.
Takeaway
For the over 65, the perfect credit card with travel insurance can be a safety net on adventures. It’s an uncomplicated way to protect oneself without the hassle of separate policies. Choosing the right credit card for your travel insurance needs requires diligence. Ensure you’re familiar with all terms and conditions to get the most out of your card’s offerings. Safe travels! However, it’s vital to be discerning, understand your needs, and pick the best fit. Travel with peace and return with memories!
Frequently Asked Questions
1. Can you get travel insurance if you are over 70?
Yes, most insurance companies offer plans for senior citizens, covering individuals over 71 and even into their 80s and beyond. Designed specifically with seniors in mind, this policy addresses challenges seniors might face on their journeys.
2. Can we travel without travel insurance?
It depends on the country you are traveling to and its rules. Some countries like the US, the UK, Switzerland, etc make it mandatory to have travel insurance as a condition for the grant of a Visa. Other countries like Indonesia, Thailand, and Maldives, allow travel without insurance.
Travel insurance is a shield against unforeseen travel hassles. It ensures that mishaps like baggage loss, medical emergencies, or even flight delays don’t spoil your journey. Here’s what a typical travel insurance policy covers:
- Emergency medical expenses: Covers medical costs from sudden illnesses or accidents.
- Personal Accident: Covers accidental death or permanent total disability.
3. Who is not eligible for a credit card?
Your credit score holds the key. Often, a poor credit score can shut the door to a credit card. Generally, a CIBIL score of 750+ is considered favorable. But certain actions can dent your score:
- Loans from multiple lenders
- Multiple credit card applications
- Delayed EMI payments
- Previous loan defaults
Ensure you maintain a good credit score to keep your options open and benefit from credit card perks!
