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This
is an Insurance article by an independent author and jml
Insurance takes no responsibility for its accuracy or content
Travel
Insurance Few Bargains for the over 65s
By
Michael
Challiner
At
last you've retired. It's now time to relax and experience
a slower pace of life. Even enjoy spot of gardening. But not
all of today's modern over 65's have heard the message! Retirement
is taking a new twist.
Less of the slower pace of life and substitute jetting around
the world! International travel for the retired is here and
booming!
It's all the result of a increased sense of adventure and
willingness to experiment, combined with more money in the
pocket. Cheaper air tickets have also helped! Even cruises,
once the territory of the seriously rich and famous, have
become affordable. An escape to Antigua and a fortnight in
the Canaries or a weekend in Stockholm are now firmly on the
over 65's travelling schedule.
Then a fly sticks in the ointment. Finding economical travel
insurance when you're over 65 is not easy. Insurance companies
recognise that people have healthier lives and are living
longer, and in recognition the insurers are offering far more
products for the older market. But with travel insurance,
the over 65's are still faced with exorbitant premiums.
Premiums
rocket as you get older and if you're looking for an annual
policy for an extended holiday or a series of holidays, the
problem becomes finding a policy at all rather than simply
finding the cheapest price.
The dilemma revolves around the costs of medical claims experienced
by the insurers. Over 65's are much more liable to make a
medical claim and the claim size is well above average too.
Against this, older travellers reportedly lose less luggage
— but these savings are counter-balanced by the fact their
belongings are liable to be worth more.
The result is that even if you are fit, the lowest priced
annual policy for the over 65's could cost £1,000 per person
– that could be more than the cost of the holiday itself.
Faced with these charges, the solution is to buy a separate
policy for each trip. But even with a good medical history,
the cost of insuring a 3-week holiday in the South of France
starts around £65, and rises enormously for destinations in
America and further a-field.
What's the solution? You're recommended to shop around. Your
travel agent may offer a quotation but don't snap his hand
off until you've got competitive prices. You'll almost certainly
find a much cheaper alternative through surfing the Internet
and buying online.
But don't make your final decision simply on the basis of
cost. Always examine the small print. Some travel policies
will insure you for up to 21 days, others up to 31 days or
45 days. Some policies will only cover you if you're staying
in booked accommodation rather than staying with friends or
relatives. No good for visiting family in New South Wales!
Then you need to ensure that you've got adequate cover for
medical and hospital expenses and don't spare the horses –
think of a high figure and triple it! You'll be amazed how
expensive quality medical attention can be whilst you're abroad.
Incidentally, it's important that your insurer will fly you
home to the UK if your medical condition demands. And don't
overlook comparing the excesses you have to pay per claim.
Finally, check that the policy pays medical costs direct to
the hospital rather than you paying first and having to reclaim.
And now comes the really good bit – jet off and ENJOY yourself!
Michael writes for Brokers Online who offer most UK financial
services including travel
insurance Travel
Insurance Topics Article Source: http://EzineArticles.com/?expert=Michael_Challiner
The
information supplied on this page is by a third party and
jml Property Services do not take any responsibility to its
accuracy ©jmlpropertyservices
11/06
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