Elderly struggle to find cheap travel insurance for over 65's
02 February 2009 15:31
A growing number of pensioners are finding it difficult to pay increased premiums for their private health, car and annual travel insurance, according to the Telegraph.
The newspaper reported that some older people are feeling forced into giving up cover because they cannot find affordable travel insurance for over 65's at a time in their lives when they might need cover the most.
Although most people look forward to travelling the world when they retire, nearly three quarters of providers refuse to cover people over the age of 75.
Lana Clements, spokesperson for More Than Insurance, explained to the Telegraph that this reluctance is a result of the fact that older people are more likely to need medical treatment while abroad.
However, the paper suggested that the most common cause for travel insurance claims is actually cancellations.
"When it comes to buying an insurance policy, people will often shop on price alone, but older customers need to consider more carefully the potential cost of what is not covered by the policy," it stated.
Last month, a new website, 65 Travel insurance, was launched to provide over 65's with detailed information and reviews on a range of different holiday products.