Gone are the days when retired people were expected to sit at home or potter around the garden. We’re all living longer than ever, and enjoying an active retirement with lots of foreign holidays and exotic travel. Many older people find that their insurance premiums increase rapidly as they hit the age of 70, and if they have underlying medical conditions, in some cases the cost of insurance can outstrip the cost of the holiday. So what are the options for these older travellers?

Specialist Insurance

Insurance is all about assessing risk, working out how likely a customer is to make a claim, and setting the premium accordingly. Statistically, older people are more likely to make a claim for either falling ill on holiday, or falling ill before a holiday and having to cancel. Mass market insurers are all about keeping prices for the majority of their customers as low as possible, and older travellers are unlikely to get the best deal from them. Better prices are available from insurers who cater specifically for an older clientele. Look for companies online, or ask an insurance broker to help.

Pre-Existing Medical Conditions

One of the factors which bumps up the prices for older travellers is health problems. Travellers have to tell insurers about any illnesses or medical conditions, and as we get older it is far more likely that we develop problems with blood pressure, diabetes, heart or other major organs. Some insurers will just refuse to cover any claim connected with these illnesses, others will just charge a hefty premium for doing so. It’s worth investigating insurers which give discount for having EHIC cover. Unlike medical cover as part of a travel insurance policy, EHIC will allow over 70s to seek state medical care for ongoing or pre-existing healthcare issues while on holiday. EHIC won’t provide extra cover to get you home if you have to rearrange your flights and won’t get you treatment in a swanky private clinic, but is a good way of reducing travel insurance costs in many cases and means that people with lifelong medical problems can still enjoy their trips overseas, safe in the knowledge that they have the safety net of basic medical cover should they need it.

Single Trip or Annual Policy?

Often tour operators will try to sell you insurance when you book your holiday, but often this isn’t the cheapest way of buying insurance. If you are an older traveller, make sure that your needs are covered by any policy offered by the travel agent before signing on the dotted line. If you are planning more than one holiday over the course of the year, it might work out cheaper to buy an annual policy rather than two or more single trip policies. A joint couple policy may also be better value than two individual policies. Don’t go with the first quote you are given, and shop around for the best prices. Reaching a milestone birthday doesn’t mean you have to give up on those foreign holidays you enjoy so much.