Travel insurance costs rise for pensioners

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Travel insurance is an essential item for anyone visiting another country. However, it has just become harder for elderly people with certain medical conditions to get access to affordable insurance because some premiums have gone up by as much as 90% over the previous year.

The news, reported in The Telegraph, has left age charities shocked and claiming that it is a blatant example of age discrimination.

One reason for the large hikes is due to the rising cost of medical treatment in Europe and the USA over the past year. For many people with certain medical conditions, this has led to an almost doubling of the price of cover in a single year.

This is bad news for an ageing population which is keen to travel and see the world. In fact, over 75s are travelling more than ever according to the article in The Telegraph, so it is going to come as a major blow that many of them will now have less to spend on their holidays because they have spent more on their travel insurance.

Those travelling to the USA will be affected the most. According to figures from Columbus Direct highlighted in The Telegraph, a 69-year-old with diabetes travelling to the USA for two weeks has seen a hike from £134 last year to £248 this year for travel insurance.

A 79-year-old traveller with angina making the same trip can now expect to pay £576 for insurance, up from £303.

The Association of British Insurers (ABI) says foreign hospitals are now charging more for treatment than they were last year, and it also blamed bad currency exchange rates and the higher cost of aviation fuel for the increases.


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