The retired and newly retired generation of today expect more out of life, they are more adventurous and want to travel and enjoy their retirement. The problem is travel insurance over 70 is more difficult to get and is generally more expensive to acquire.
More and more people of a certain age are choosing to travel whether it be to go an holidays, cruises or visit relatives abroad. This is the time of life when you have less worries and commitments and you want to enjoy your retirement. Unfortunately you need travel insurance to travel and if you are 70 or over getting insured by many of the insurance brokers or companies can be difficult.
Insurance is all based on the level of risk, as we get older the risk of us falling ill or having an accident or more precisely we are more likely to come of worse if we do have an accident. This means that every additional year over the age of retirement the premiums for holiday insurance goes up.
The insurance companies want to protect themselves against the additional claims made by this age group. All is not lost and you do not have to pay over the odds when travelling.
Not everyone is the same, you may be 70 but you may also be fit, active and healthy. You have no serious existing or previous medical conditions and so are theoretically less likely to become ill whilst abroad.
Over 70s travel insurance covers more than just the cost of medical cover, rescue and repatriation. It also covers the cost of cancellations, lost or stolen luggage and belongings and even personal liability and legal costs.
Getting the cheapest travel insurance, over 70 year olds should not just look at price. Many low cost travel insurances may have a high excess, this means that if you do have to make a claim you could be liable for the first few hundred pounds or even more. Always check the level of excess you are willing to accept.
