Credit card insurance is one of those things…
You never want to have to use it, but having it ‒ or not having it ‒ can really make or break your trip.
It can help you save time and money, plus avoid some serious headaches.
While there are many credit cards that carry some type of insurance (even many no fee ones), credit cards with insurance that cover you if you’re over 65 years old are much fewer in number.
Which is why we decided to do the research and compile a list of credit cards, that do offer this feature, for our readers.
Credit Card Travel Insurance
The first thing you need to keep in mind when looking for credit card travel insurance is to ALWAYS read the fine print.
There are always exceptions and things to remember, so it’s best to know all the “rules” so you aren’t left without coverage.
Purchasing your trip using your card
In order to be covered by your credit card’s insurance, many cards will require you to purchase 100% of your flight on your card.
However, some cards will only require 75% of your cost to be charged to your card…
And other cards, still, will require you to use your credit card rewards in order to be covered.
Whatever the case, you’ll find that information on your card’s insurance certificate.
The length of your trip
Credit cards that offer travel insurance will often only cover cardholders for a set amount of time.
This time period could be anywhere from 3 to 60 days of travel.
However, that time is shortened quite a bit if you are over the age of 65 and the highest coverage you’re likely to find in Canada is 15 days.
Any pre-existing medical conditions
Another common exception for credit card travel insurance is a cardholder with pre-existing medical conditions.
If you have a pre-existing medical condition, your chances of being covered by your credit card insurance, are slim…and even more so if you’re over 65.
So, something to keep in mind.
The Best Insurance Packages If You’re Over 65
Even with exclusions and conditions, complimentary travel insurance is still valuable for many people ‒ and thankfully there are a few cards that will extend past the age of 65.
15 days of travel coverage for 65+
The best credit card travel insurance packages available for Canadians who are over 65, come from National Bank…
These cards will cover cardholders, who are over 65, for up to 15 days of travel. In other words, you get 2 weeks of worry-free travel.
Plus, both of these cards are premium travel credit cards, so they come with many other benefits.
The World Elite version comes with:
- up to $250 in annual travel fee reimbursements,
- 24/7 concierge access, and
- unlimited airport lounge access when you’re visiting the Montreal Airport…
…making that $150 annual fee easier to stomach. And, until December 31, 2018, National Bank will reimburse the annual fee when you spend $3,000 in 3 months.
Plus, both the World and World Elite version have the best purchase insurance available. Extended warranty and purchase protection that is twice as long as most credit cards – 2 years and 180 days respectively.
So even if you don’t travel super often, you can still put these cards to good use.
10 days of travel coverage for 65+
The next best complimentary travel insurance package for Canadians over 65 years old, would be coverage for a 10 day trip.
There are four credit cards on the market right now that include this feature:
Scotiabank Passport Visa Infinite Scotiabank Gold American Express Scotiabank Platinum American Express CIBC Aerogold Visa Infinite Privilege
With annual fees ranging from $99 to $399, hopefully, one of these cards will suit your needs.
One really nice thing about the Scotia Gold card from American Express is that it has the lowest of the annual fees and the lowest minimum income requirement. So, if you’re retired or only working part-time with a lower income, this card would be a good one to consider.
Plus, this is a solid card that rewards you 4x more when you’re spending on gas, groceries, restaurants, and entertainment.
The Scotiabank Passport Visa Infinite also has a lot of great features, including the fact that it is one of the few credit cards in Canada that currently waives the 2.5% foreign transaction fee when you’re making purchases in a foreign currency.
If you travel outside the country a lot, or even shop online, this is a great feature that will save you big time.
While it does have a higher annual fee, there are ways to get that fee reduced by either:
- spending $40,000 annually on your card to receive an annual bonus of 10,000 Scotia Rewards Points (worth $100 in travel), or…
- having your account as part of a Scotia Total Equity Plan, your annual fee will be reduced to $69.
Or even better…you could do both.
This is a premium card with solid insurance that is worth a closer look.
7 days of travel coverage for 65+
There are a good number of credit cards that will give you insurance anywhere from 3 days to 7 days if you are over 65.
So, if you usually take shorter trips, one of these cards could be a good fit for you:
RBC Avion Visa Infinite Privilege RBC British Airways Visa Infinite Privilege
Last but not least, we wanted to mention the
We thought these cards deserved honourable mentions because they are currently the only no fee credit cards in Canada that offer insurance that extends past the age of 65.
While the Rogers card is a World Elite card, it does require you to have a minimum income of $80,000, the Scotiabank card is a great option if your income isn’t that high.
Related: Best Low Income Credit Cards
Top 5 Credit Cards with Travel Insurance for Over 65
There you have it.
A run down of the some the credit cards in Canada with travel insurance that extends past the age of 65.
Here’s one more look at our top 5:
|Credit Card||# of Days Covered||Min. Income Requirement||Annual Fee|
|15 days||$80K personal / $150K household
$25K charged to card annually
|15 days||$60K personal / $100K household
$15K charged to card annually
|10 days||$60K personal / $100K household||$139|
|10 days||$12K personal||$99|
|10 days||$200K household||$399|