Over 80s Denied Holiday Insurance

Posted on: 10 June 2008 by Gareth Hargreaves

According to a recent survey, 97% of travel insurance policies have an age restriction.

Many travellers aged 80 or over are being refused holiday insurance as more and more insurance companies shy away from offering cover for the older traveller.

A survey conducted by Defaqto for Help the Aged in 2007 examined 495 policies which were a combination of single-trip and annual multi-trip travel insurance policies.  They found that 97 per cent of travel insurance policies are imposing an upper age limit.  A quarter won’t cover those aged 65 or over, and three-quarters won’t cover those aged 75 and over, despite indications that the number of travellers in this group is increasing year on year.

As more people elect to work until 70 and chose to buy properties abroad, it may come as a surprise that those insurance providers who are tied to agreements with UK travel agents, do not provide cover over the age of 79, whilst many policies for the over 65s have low restrictions on the number of pre-existing medical conditions that they will cover. 

Stuart Castledine, Managing Director of Intune, a provider of financial products and services owned by Help the Aged says that many insurance companies fight shy of cover for the over 80s because of the perceived higher likelihood of claims.

“Customers over 85 are eight times more likely to make a travel insurance claim, and over 65s three times more likely than customers aged 35 and under,” he says.

“However, the volume of enquiries we are receiving suggests people over the age of 70 are travelling in greater numbers than ever before, and the travel agent whose insurance provider cannot accommodate their needs is missing out on a significant business opportunity."

“We have found that older people holiday more widely than younger age groups, and for longer at a time.  More than 121,000 trips of 3-6 months have been taken by this age group over the last year. The over 80s traveller has particular requirements which need accommodating, but they do not want a system which writes them off at a time when they should be enjoying life to the full.”

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Intune is a financial services company owned by Help The Aged.  They have no upper age limit on their travel insurance and cover many pre-existing medical conditions.  Customers who have pre-existing medical conditions that Intune has agreed to cover will not be penalised with increased premiums, but pay the same premium as customers with no conditions.

As well as their oldest customer of nearly 101, currently Intune’s oldest person with winter sports cover is 81. Intune provides single trip and annual policies, providing cover for travel in Europe or worldwide. 

For further information visit www.intunegroup.co.uk or call the travel telephone number on 0800 030 4829.

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