11 Senior Travel Insurance Features to Prioritize

5. Cancel For Any Reason (CFAR) Option

Cancel For Any Reason (CFAR) is an optional upgrade that reimburses a portion of trip costs when you cancel for reasons not covered by standard policies. CFAR typically reimburses 50% to 75% of the insured trip cost, and it must be bought soon after initial trip payment—commonly within 14 to 21 days. Additionally, insurers require cancellation at least 48 to 72 hours before scheduled departure. For older travelers who might face sudden health changes, CFAR provides flexible protection when pre-existing waivers or standard covered reasons don't apply. Keep in mind CFAR costs extra and is not available in all states or from every carrier, so compare the incremental premium to the potential payout. Practical rule: if nonrefundable trip costs are high and health uncertainties exist, CFAR can be a sensible investment. Source: Forbes Advisor