The Advantage of Being Insured on Your 50s

Fifty is called the Golden Years not just because of age and the grey hair on your head. People in their 50s usually have grown up children already and have become more financially stable. Thus, most people in there 50s these days take up traveling and enjoying life.

Statistics have shown that 85 percent of people who are in their 50s are traveling. What’s more interesting is that these Golden Agers are getting more adventurous in their travel preferences, going to places that are off the beaten track and trying new things they might not have tried before when they were younger. That’s not surprising given the fact that people in their 50s these days are much more health-conscious and mindful of everything.

If you are in your 50s and you are one of the adventurous ones, go ahead, enjoy life, but don’t forget to have yourself covered with annual travel insurance. As someone who has already a wealth of experience, you already know the importance of getting the right cover and the costly repercussions if you don’t have any insurance to cover you.

So what is better for someone who is 8n their 50s — will you purchase annual travel insurance with a single trip policy or something with a multi-trip policy.

The Difference Between a Single Trip and a Multi-trip Policy

As the name implies, a single-trip policy only covers you for only one trip. This is ideal if you plan to travel only once a year. However, if you are someone who goes on a trip around two or three times a year, a multi-trip annual travel insurance policy is the one for you. Getting a multi-trip policy has the following benefits:

· It saves you the hassle of getting a policy every time you make a trip. With a multi-trip, you only apply once and you’re free to go anywhere you want without any worries about your cover.

· It is cheaper. Costs vary from insurance to insurance companies but if you do the math, multi-trips are cheaper. For example, a single-trip policy costs around $38 but the multi-city is around $108 covering several trips you’ll make.

To get annual travel insurance that fits you, here are some questions to ask.

· How long will I travel?

Most multi and single policies cover between 90 and 180 days. Annual travel insurance, on the other hand, covers up to 18 months.

· Do I need a specialist policy?

A specialist policy is for someone who has a pre-existing medical condition or for those who are more than 65 years old. If you have a pre-existing medical condition, tell your insurer. If you want to be covered for that, you need to pay more for the premium.

· What kind of sports or activities are you going to engage in?

There are still a lot of 50 year olds who travel and try extreme adventures. So if you are engaging in such activity, get yourself extra cover.