Travel Insurance

Why It Matters More After 60

Travel insurance is one of the most important — and most misunderstood — purchases a retiree can make before leaving Canada. Whether you're heading south for the winter, taking a cruise, or visiting family abroad, the right coverage can mean the difference between a minor inconvenience and financial catastrophe.

Canadian provincial health plans provide minimal coverage outside the country — often as little as $50-$200 per day for hospital stays that can cost $5,000-$10,000 per day in the United States. A single emergency room visit in Florida can generate a bill exceeding $50,000.

For seniors, the stakes are higher because the likelihood of needing medical attention increases with age. Pre-existing conditions, medication interactions, and the physical stress of travel all contribute to elevated risk profiles.

What to Look For

Essential Coverage Elements:

• Emergency Medical: Minimum $2 million for US travel; $5 million recommended
• Medical Evacuation: Air ambulance back to Canada if needed
• Trip Cancellation: Reimbursement if you must cancel due to illness
• Trip Interruption: Coverage if you must return home early
• Pre-Existing Condition Coverage: Critical for seniors with ongoing health issues
• 24/7 Assistance Line: Medical coordination services in your language

The Pre-Existing
Condition Trap

This is where most seniors get caught. Nearly every travel insurance policy has a stability clause — a requirement that pre-existing conditions must be stable for a specified period (typically 90-180 days) before departure.

If your doctor changes a medication dosage, adjusts a treatment plan, or orders new tests within that window, your coverage for that condition may be void.

Full Disclosure Required: You must declare ALL pre-existing conditions — even controlled ones. Non-disclosure voids coverage and claims. This is the single most common reason claims are denied for senior travelers.

Common Mistakes

• Assuming credit card coverage is sufficient
• Not disclosing all medications and conditions
• Choosing the cheapest policy without reading exclusions
• Waiting until the last minute to purchase
• Failing to carry policy documents while traveling

Tips for Saving:

• Compare quotes from at least 3 providers
• Consider annual multi-trip policies if you travel 2+ times per year
• Ask about group rates through your union or retirement organization
• Book early — some providers offer early-purchase discounts