Travel Insurance
A significant number of over 50s are being held back from going on holiday due to difficulties with getting suitable travel insurance, new research from Lloyds TSB has found.
The firm found that a little more than a quarter (26%) of over 50s have experienced travel insurance issues, with a variety of different factors causing these difficulties. 15% were refused cover due to an existing illness or injury, a figure which rises to 16% for the over 60s. I have seen at first hand just how difficult it can be – my own father underwent a couple of complex medical procedures last year, and I know that it was far from easy arranging cover for their recent holidays.
Around 11% of over 50s have had their applications for insurance turned down due to their age, rising to 16% for those over 60.
The trouble is that for many over 50s, this is the stage in their life when they are finally free to do a bit of travelling. The kids have left home (hopefully) and they have a little cash in their pocket. But suddenly travelling the word is logistically problematic.