The world maybe your oyster, and all that. You’re able to travel, and you’ve planned your trip. So why is travel insurance difficult to obtain, or so darn expensive for older people? The people at moneymagpie.com put it this way:
‘It’s because you become more susceptible to medical conditions, many of which could make you a higher risk when travelling, and particularly flying.
Nevertheless you’ve got to have it, so you need to make sure you choose a policy best suited to your needs without having to pay too much for unnecessary extras.
Factors affecting travel insurance for the older generation
•The over 60s have more time and money to travel than ever before. Because you’re more active and living longer, travel insurance policies specifically designed for the older age groups are becoming increasingly popular. Of course this is good news; it means there is more competition, so better prices are available.
•When you’re travelling, insurers are aware that you’ll be taking far fewer risks than say, the backpacker who plans to jump out of an aeroplane! This acknowledgement should be reflected in your policy and hopefully help to decrease your costs.
So, how do you get the best deal?
Unfortunately, unlike life insurance, you have to fully declare any existing medical conditions for all travel insurance policies. However, there are some companies out there who won’t increase their premiums when you declare certain pre-existing medical conditions.
Once again, it’s essential to shop around for the best deal. Which? Money reliably informs us that buying your policy online is almost always cheaper, so get checking on our comparison pages.
With the help of some research carried out by our friends at Which?, we’ll now show you a few of the very best deals around. Just make sure you read all the terms and conditions carefully to check the level of cover you are getting with each policy. And bear in mind that these premiums may increase for anyone with pre-existing medical conditions.’
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