What Is the Best Travel Insurance for Your Age?

Age is definitely a factor when you’re deciding on a premium for a travel insurance policy. However, there are other important considerations that come with it as well.

For example, do you want a single trip plan or an annual plan? What kind of coverage do you want in your policy? 

Before we find the best travel insurance for your age, take a look at the types of plans and coverage options so you can make a well-informed decision on which travel insurance policy to get. If you've got a kid in tow, check out the best travel insurance plans with pregnancy-related coverage!

There are two types of travel insurance plans based on frequency of travel. These are:

• Single trip plans
• Multi-trip plans or annual plans

These plans are offered to help economise the purchase of travel insurance plans. Let’s see exactly how this works. 

Single trip plans

A single trip plan provides coverage for just one trip in which you are departing and arriving from the same country. The maximum coverage duration for these plans is usually 180 days. Although the duration would ultimately depend on your insurer. 

You may avail single trip plans for individual, family, and group policies. However, all insured travellers with the family or group policy must have the same departure and return dates.

Annual plans

Annual travel insurance plans provide coverage for multiple trips within a single year. While you are allowed to make an unlimited number of trips, each trip duration cannot exceed 90 days. So, if you’re going on a long staycation in a single destination, this plan isn’t ideal for you.

Annual plans are offered for families and individuals as well. Unlike single trip plans, insured members aren’t required to travel at the same time or to the same destination. 

Annual travel insurance plans are the best for frequent travellers. You may take multiple trips throughout the year with all the basic coverage benefits. 

There are three types of insurance plans based on the number of people insured under a single policy. 

• Individual - Single traveller
• Family - Includes spouse, children, grandparents, in-laws, and/or siblings 
• Group - Two or more travellers 

Let’s compare these three types to see which one would be the best for your age: 

Individual	Family	Group
Covers a single traveller	Covers a couple or single parent along with their family members (children, grandparents, parents, in-laws, and/or siblings) Usually covers up to  five family members, although this may vary per insurer.	Covers two or more travellers, regardless of their relations
Available as single and annual trip plans	Available as single and annual trip plans	Only available as a single trip plan
Includes benefits such as trip cancellation/reschedule, baggage loss, personal accident.	Includes benefits such as trip cancellation/reschedule, baggage loss, personal accident. Children will be covered as per child benefits stated in the policy.	Includes benefits such as trip cancellation/reschedule, baggage loss, personal accident.
Anyone who is 18 and above can purchase this policy	Anyone who is 18 (can vary) and above can purchase this policy. Children included in this policy should be less than 18 years old, or a full-time student under 25 years old.	Anyone who is 18 (can vary) and above can purchase this policy.
	All insured members need not travel at the same time or to the same destination.  Exception: children below the age of 12 need parent or adult guardianship.	All insured members must travel at the same time to the same destination.
Best for adults and elderly travellers.  It works well for solo travellers. It’s also a great option when you need to buy insurance for one or two additional family members who are not part of an existing family plan for a single trip.	Best for child and adult travellers. It’s a comprehensive option for families. It includes both or single parents as well their children under the same plan.	Best for elderly and adult travellers travelling in a group. A group plan is ideal for any group of mixed ages travelling on holiday together. While group plan benefits cover all age groups, family plans are still better options for children.

Young adults tend to engage more in adventure sports on holidays. While not all insurance plans have coverage benefits for adventure sports within the policy, it can be purchased as an add-on.

Read the fineprint to see what exactly the policy considers as ‘adventure sports’. However, here are a few commonly insured activities: 

• Hiking and trekking
• Skiing
• Scuba diving 
• White water rafting 
• Ziplining

Do note, however, that some insurers may only provide benefits for accidents or injuries if you are doing these activities for leisure/non-competitive purposes under a licensed operator. Make sure you follow all safety instructions, guidelines, and regulations as your claims could be nulled otherwise.

Check with your insurer about any applicable exclusions. For instance, not all plans cover trekking beyond 3,000 metres above sea level. 

The main policy, however, must cover the following: 

• Medical coverage
• Trip cancellation or reschedule
• Baggage loss or damage

Policies to consider:

Policy	Adventure sports coverage	Medical coverage	Baggage loss or damage	Trip cancellation or reschedule
MSIG TravelEasy Elite	Yes	S$500,000	S$5,000	S$10.000
FWD Premium	Yes	S$200,000	S$3,000	S$7,500
Tokio Marine XPLORA Classic	Yes	S$300,000	S$5,000	S$5,000

An affordable plan with complete coverage is the best option for travelling as a family. Travelling with a lot of family members may definitely cost since the premium will be based on the number of people insured. 

If you are travelling with children, it’s important to go through the child benefits offered with the basic plan. There may be separate coverage benefits for adults and children under a single policy. 

Having good medical coverage is important too, especially when travelling with older family members. Furthermore, trip cancellation coverage is another important consideration in case anything pops up last minute with any family member. 

Family policies to consider:

Policy	Overseas Medical Coverage (Maximum Claimable Benefit under Family Plan)	Trip Cancellation (Maximum Claimable Benefit under Family Plan)	Baggage loss or damage (Maximum Claimable Benefit under Family Plan)	Personal Accident  (Maximum Claimable Benefit under Family Plan)
Allianz Travel Comprehensive Silver (single trip)	S$500,000 Includes dental sub limit of S$500	S$10,000	S$5,000	S$100,000 (per person)
FWD Travel Insurance First	S$2,500,000	S$37,500	S$18,750	S$1,000,000
DBS TravellerShield Plus Platinum	S$1,000,000 (per adult insured person)	S$45,000	S$8,000 (per insured person)	S$500,000 (per adult insured person)

As with any insurance plan, travel insurance for people above 70 entails higher premiums and lower coverage benefits. This can be frustrating especially since seniors are the most in need of extensive coverage. 

When buying insurance for yourself or someone above the age of 70, consider policies that offer the following: 

• Overseas medical coverage
• Emergency medical evacuation 
• Coverage for pre-existing conditions 

Policies to consider:

Policy	Pre-existing coverage option	Medical Coverage (over 70 years old)	Emergency Medical Evacuation (over 70 years old)	Trip Cancellation	Loss/Damage of Baggage
NTUC Enhanced PreX (Superior)	Available	S$300,000 Combined coverage limit per person	S$300,000 Combined coverage limit per person	S$10,000 (co-payment of 50% if the reason for cancellation is due to pre-existing illness)	S$5,000
TIQ Pre-Ex Savvy	Available	S$50,000 Includes overseas hospital allowance of S$200 every 24 hours limited to S$10,000	S$1,500,000 Includes repatriation of mortal remains to Singapore	S$5,000	S$2,000
Singlife Travel Insurance Plus	N/A	S$2,000,000 (non pre-ex) Combined coverage limit per person	S$2,000,000 (non pre-ex) Combined coverage limit per person	S$15,000	S$5,000

Policies offering coverage for elderly travellers with pre-existing conditions have different benefit limits than basic policies. So, be sure to read the policy document carefully before purchasing your preferred plan.