Can the over 50's get travel insurance?

When you retire, people seem to expect that you will spend your dotage nestling in your favourite armchair watching soap operas with a mug of cocoa, with occasional outings to the local shop to maybe buy some woodbines or some wool for the tea cosy you are knitting for your unsuspecting nephew.

Of course, that's not what is actually happening. For most people, retirement is the first time in their life that they've been able to live a life as adventurous as they want to. More and more people are taking up skiing over the age of 65. They need insurance, just like anyone else.

But the problem has been that a person's age can affect both their ability to get insurance and the price of it. Seems a cruel link, but in order to cover your arms and legs for adventurous pursuits, it may cost exactly that - an arm and a leg.

When people get insurance, and do a one-off offbeat sporting activity, like parachuting or a bungee jump, then they may be covered automatically on their standard travel insurance policy. But if the main purpose of your holiday is to pursue a "hazardous activity", which could be rock climbing or many other things, then you will have to negotiate cover and probably pay a higher premium. This premium is such that its sometimes better to buy an annual multi-trip policy should you be going skiing, as these include skiing for a set part of the year, so tend to be the cheapest way of insuring yourself for it.

Older travellers, though, tend to travel a lot more often, as they have more time to go. Thus they often find it hard to get annual policies. What's more, they are perceived to be at greater risk of requiring medical help during their travels, so are more likely to make claims. Thus, some travel insurers will make a cut off point for offering insurance, such as 75, or as low as 65. This includes specialist insurers who focus on the over 50s. Saga, for instance, doesn't offer annual cover at all, and RIAS has 75 as its age limit. However, Age Concern and Help the Aged have no age limit on their annual policies.

Nationwide, as a mainstream insurer, sticks out amongst them by offering cover to travellers on both a single trip and annual basis up to the age of 99, and even do it for a low cost. Insure and Go are even cheaper for those under 75

It pays to shop around carefully, as most travel insurers don't offer cover once you hit 65, or double their premiums. You can thus save a lot of money by doing your research and going to the right place.

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

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Can the over 50's get travel insurance?

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

Copyright