Twenty years ago, the price of travel insurance would be the same for anyone under the age of 65 but the day they went over 65, the price would double and sometimes triple. This was based on the premise that the older you became, the more prone you were to illness and therefore required higher medical costs.
In recent years, the way that travel insurance manages the age of customers has improved and become more scientific but it still remains a bone of contention. From the age of 45 and above, there is evidence to show that the risk of getting ill becomes higher and that the costs of treating any illness abroad increase as customers get older, particularly over the age of 70-75. Online medical screening has made the assessment of those with a pre-existing condition that much quicker and cost-effective and thus more accessible.
However, many of the big travel insurance brands are more cautious about older travellers and limit the age at which they are willing to sell an Annual Multi Trip policy, and in some cases, this can be as low as age 65. In other cases, companies will limit the age for selling Single Trip travel insurance or choose to only sell to customers who do not have any pre-existing medical conditions.
However, there are a number of travel insurance specialists such as InsureForAll, AllClear Travel Insurance and goodtogoinsurance.com which are aimed at offering travel insurance to older travellers and those with pre-existing medical conditions. These companies will offer cover to those up to, and sometimes, over 100 years of age and others are able to even cover terminal illness although customers must expect to pay a higher price in most cases.
Customers should always declare any pre-existing medical problems when taking out travel insurance and it is always wise to contact your insurer if you have a change in your health after taking out your travel insurance but before you travel. Ultimately, if you have a claim and have not declared it in advance, the insurer may not pay the claim and this can cost thousands. A heart attack in the USA can costs up to £100,000 if it involves weeks of intensive care treatment and an air ambulance back home.
The message from Columbus Direct is that travel is to be enjoyed by anyone and that there is travel insurance available in the market for 99% of those that want to travel. Our role in the year ahead is to ensure that, wherever we are unable to offer travel insurance, we will always point customers in the direction of a company that may be able to help. Whatever happens, we strongly advise that customers should never travel without travel insurance. Despite all of our best efforts, accidents do happen, illnesses do occur and the unexpected is not always in our control as the recent Italian cruise tragedy and Icelandic volcanoes have shown. Customers cannot avoid or plan for the unexpected but they can ensure that they have support and help when it is required.
Greg Lawson,
Head of Retail at Columbus Direct
