Travel Insurance: Why You Shouldn’t Leave Home Without It

“Medicare doesn’t cover medical costs outside the U.S.”

That’s a good reminder from retirement expert Mary Beth Franklin on why you need travel insurance if you’re 65+.

Mary Beth spent years at Kiplinger’s Personal Finance magazine and started a late-in-life second career as a Certified Financial Planner and Social Security expert.

Travel insurance, says Mary Beth in a column for Investment News, includes “coverage for medical care in a foreign country and, if necessary, medical evacuation.”

“That’s critical because Medicare, the primary insurance for Americans age 65 and older, stops at the U.S. border, and even the most generous supplemental Medigap policy provides limited coverage overseas.”

In fact, travelers of all ages can benefit from travel insurance, including those with aging parents (or even pets!) staying home. Travel insurance can protect you if your luggage is lost, flights are cancelled, or if you need to cancel your entire trip due to a family member’s unexpected illness, or many other unforeseen events.

You can check out more travel tips from Mary Beth here.

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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