Retirement no longer means putting down stakes. It’s about getting out. The heterogeneity of these goals could undermine the precepts of lifecycle consumption-saving theory, which is based on a universal desire for a date with leisure (Akerlof and Hahn 1966).3 Although it is difficult to generalize about post-retirement aspirations/activities, more than 65 percent of retirees ranked “leisure travel” as their top activity in retirement according to one 2024
Conference Board of Canada survey. With decades of pent-up vacation fantasies, retirees are driving a golden-age travel boom across Canada and well beyond.
But let’s face it: retirement travel isn’t only about booking flights and posting beach photos. As a Canadian retiree, you have to be strategic in your thinking — of money, safety, insurance and timing. Make one misstep, and the vacation bill could be much higher than anticipated or — not to get too dark on it — you might end up in a health emergency without adequate coverage.
Read on for five of the best retirement travel tips to help you make safe, seamless and budget-friendly trips.
1. Compare Travel Insurance Costs In Canada Before You Book
Most retirees know they need Travel Insurance, but few realize how much plans can vary.
Travel Insurance costs in Canada depend on:
- Your age
- The length of your trip
- Existing health conditions
- Type of plan (emergency medical, cancellation, multi-trip, etc.)
Some retirees have to pony up as little as $40 for a trip of several days, but others could see the cost soar above $300 for longer international stays with full coverage. For Canadians, we’re talking a billion-dollar industry: The Canadian Life and Health Insurance Association (CLHIA) says Canadians shell out in excess of $950 million a year for various types of Travel Insurance – and much of that could be avoided by shopping the market for quotes.
Pro Tip: Be sure to use a reputable comparison tool or work with a licensed advisor when comparing plans. Don’t just click the first ad you see (online). There are real gaps in coverage, particularly for travellers over 60.
2. Prioritize Travel Health Insurance Coverage That Matches Your Risk
Many retirees mistakenly believe provincial health plans will cover them abroad. Not true.
Once you leave Canada, your provincial coverage drops off dramatically. You may be reimbursed for a fraction of the cost—or nothing at all—especially in the U.S., where a one-day hospital stay could run over $10,000.
Travel Health Insurance Coverage should include:
- Emergency medical treatment
- Hospital and physician costs
- Prescription medication abroad
- Repatriation and air ambulance if needed
- Pre-existing condition stability clause
Important: Make sure your policy defines what counts as “stable.” If your blood pressure meds changed last month, that might void your claim.
3. Use Money Saving Retirement Travel Tips Without Sacrificing Comfort
Travelling smart isn’t about being cheap. It’s about knowing where to save and where to spend.
Top money-saving retirement travel tips include:
- Travel during shoulder seasons (April-May, Sept-Oct) to slash airfare and hotel costs
- Book longer stays in fewer destinations to cut down on transport expenses
- Use loyalty programs for hotels, credit cards, and airlines
- Join senior travel groups or packaged tours for group discounts
- Check for international travel passes (like Eurail or senior metro cards)
Bonus: Renting a condo with a kitchen saves money and lets you eat healthier.
4. Consider Travel Insurance For Business Or Volunteer Trips
Not all retirement travel is leisure. Some retirees consult, teach, or volunteer overseas. If that’s you, standard vacation coverage might not cut it.
Travel Insurance for business purposes often includes:
- Equipment protection (e.g., laptops, cameras)
- Higher liability coverage
- Trip interruption for work-related cancellations
- Extended stay coverage
Check with your provider to ensure your Travel Insurance covers any non-leisure activities, or you could be left exposed.
5. Pick Popular Travel Destinations That Cater To Senior Needs
Where you go matters just as much as how you get there.
Some popular travel destinations are especially senior-friendly, offering great medical access, walkable layouts, and discounts:
- Portugal: Affordable, safe, and mild climate
- Spain: Rich culture, excellent public transport, senior discounts
- Costa Rica: Excellent private healthcare, eco-tourism
- Italy: Senior-friendly rail system and cultural sites
- Canada (yes, at home!): For interprovincial trips with no insurance gaps
Before booking, research:
- Local hospital access
- Whether the area has travel advisories (check travel.gc.ca)
- Transportation ease (elevators, rail, walkability)
- Senior discounts and accessibility options
Final Thoughts
Retirement travel doesn’t have to be randomly drawn out of a hat. It involves planning for adventure and defence.
Get a Canada Travel Insurance quote online, and secure your Travel Health Insurance while you are there with some handy retirement savings on money-saving retirement travel tips that will help you make the most of your dollars without ending your fun too soon. If your trip is of the consulting or volunteering kind, promote to business (consulting and volunteering are not covered in Leisure+Travel Care). And, of course, always check the health resources for popular travel destinations that you and your level of activity are accustomed to.
The road ahead is yours. But with the right map, it’s way smoother — and with the right insurance, even better.
Learn More: Why Annual Multi-Trip Travel Insurance Is A Smart Choice For Frequent Travellers To Canada