Pensioners may much more for travel insurance

Thu, 11 Mar 2010

British pensioners face high travel insurance costs when they reach the age of 65, according to moneysupermarket.com.

The website says those hitting their 65th birthday and travelling within Europe will see a 174 per cent increase in their travel insurance multi-trip policy and those choosing the worldwide equivalent will fork out 131 per cent more.

Bob Atkinson, travel expert at moneysupermarket.com, describes it as a penalisation of elderly European travellers. He said: "With people in the UK living longer, and with many pensioners having far more disposable income which enables them to travel more, insurers need to change their attitude." He suggests that the premium should be a fair reflection of the risk that travellers pose and anyone wishing to travel overseas should shop around and find the best price available between the different providers.

A recent study conducted by Scottish Widows revealed that more than half of pre-retirees want to travel once they reach retirement age, but 36 per cent of pensioners did not believe that they had adequate funds.
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