Are you 70+ and looking for a comprehensive travel insurance policy for your next holiday? AIG might be for you
Most of us have some sort of travel plans booked in and fantasised about, to make our ‘golden years’ really sparkle. When the mortgage is paid off, the kids are off the pay roll, you’re working less and have more time free, you deserve to be able to relax and enjoy all of those experiences you’ve always dreamed about, or revisit all of your favourite places from a lifetime of travel.
While you may feel free, younger than ever and certainly younger than your parents were at the same age, that doesn’t mean you are immune from the pressures, delays and accidents which can occur when you travel, so to make sure your travel plans go as planned, make sure you look out for specific mature age travel insurance and tick it off your list before you take off.
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What are the benefits of taking out Mature Age Travel Insurance with AIG?
You are able to apply for the specifically tailored AIG Mature Age Travel Insurance policy if you are 70 years or older at the date of your departure. If you are 85 years or older, AIG will complete a Mature Age Assessment before providing cover under this policy. You may not be covered for claims resulting from existing health disorders and cover can not be extended past the original term of the policy. You must also be an Australian permanent resident to apply for cover.
You will then need to select the right policy for your destination and if you are travelling to multiple destinations, choose the travel plan for the destination where you will be spending the majority of your time. If you are planning to spend more than 96 hours on the continents of North America, South America or Antarctica you must take out the Platinum Plan. With the AIG Mature Age Travel Insurance policy you will not be covered for travel in, to or through Afghanistan, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, Sudan, or Syria.
What's covered in this policy?
- Cancellation fees and lost deposits. AIG will reimburse you for any charges you incur as the result of a cancellation outside of your control, such as the result of accident, retrenchment or strike. This feature includes cover for travel agent fees, as well as for lost frequent flyer points.
- Overseas medical expenses. AIG will cover the costs of eligible medical, dental and accommodation costs, as well as the costs to return you to Australia for medical reasons if required.
- Cash in hospital. AIG will pay you a $50 benefit for every 24 hours you are confined to hospital, after an initial 48 hours period. This benefit can help pay for out of pocket expenses associated with your hospitalisation and make you or your travelling companion more comfortable.
- Loss of luggage. Pays a benefit for the accidental loss, theft or damage of your luggage, including any duty free items. This feature also includes a benefit for the loss or fraudulent use of your credit cards.
- Sport equipment. If you are travelling with sporting equipment such as surf boards, boogie boards, skis, snowboards or tennis racquets, AIG will cover you for the loss or theft of these items under your luggage limit, while golf clubs will be covered under a higher limit plan. AIG will also pay for the hire costs of golf clubs or ski equipment if your luggage is delayed.
- Specified luggage items. You can also specify individual luggage items to AIG when you travel and have these insured at a maximum of $4,000 for any one item, or up to a maximum of $8,000 in total. There is an added premium of 4% and you must provide valuation details or receipts.
- Emergency expenses. Covers additional accommodation, meal and travel costs if your trip is disrupted, including cover for the cost of personal emergency calls.
- Resumption of trip. If you make an eligible return to Australia because of the death, or serious illness or injury to yourself or your travelling companion, relative or close business associate, AIG will cover the expenses needed for you to resume your trip, excluding when you are travelling on a one way ticket.
- Home help. AIG will provide you with housekeeping services up to the value of $1,500 on a single policy and up to $3,000 on a family policy, if you have been hospitalised for more than 10 days overseas and AIG have repatriated you home. This benefit does not include cover for home nursing.
- Accidental death. AIG pays a death benefit under your travel insurance if your death is the result of an accident or terrorist attack while you are travelling. This feature also covers your liability for causing loss or damage to property, injury or death and protects you from liability for injuring another person, causing damage to their property and for any legal expenses.
- Rental vehicle excess. Pays the excess on your rental vehicle if it is damaged or stolen, up to the value of $4,000, with the option to increase this cover amount to $6,000 for an additional $15 per $500 of benefit.
- Financial default. If your travel services provider, excluding your travel agent, goes into default, AIG will reimburse you for the costs of assisting with alternative arrangements.
- Cruise liner travel. If you are travelling on a domestic cruise liner, you may be able to take out Bronze Cover with AIG, as there are some instances where overseas medical cover can be provided. For example, if you are travelling on a cruise liner on the South Pacific, you should take out Bronze Cover. If you are cruising in other worldwide locations, you will need to take out the plan specific to the port of departure.
Interesting in applying?
If the benefits of the AIG Mature Age Travel Insurance Policy make this policy sound like a suitable option for your next trip away, you can follow the secure link from the finder.com.au website through to the AIG website to learn more about the policy and begin your application. Once on the AIG website you will be able to access the product disclosure statement for the policy which will cover each of the cover features, exclusions and other terms and conditions you may need to consider prior to application. It might be worth reviewing AIG's conditions on pre-existing medical conditions for senior travellers just so you know you have the right level of cover in place. Once you are satisfied that this is the right policy for you, you can begin your online application and get your cover in place.