Travel insurance unfair for pensioners, expert claims

Wed, 20 Sep 2006

Many pensioners could be paying too much for their travel insurance, an expert has claimed.

UK adults over the age of 65 are the victims of "discrimination" when it comes to travel insurance, stated Moneysupermarket.com.

Some pricing structures for travel insurance will see premiums double for UK residents after turning 66, which the company claims is incongruous with new legislation over age discrimination which is set to come into effect on October 1st 2006.

Richard Mason, director of insurance at Moneysupermarket.com, stated that many UK pensioners could be in for a travel insurance "shock" when turning 66.

"Most insurers will increase their price for those over 65, no doubt hiding behind the senseless reasoning that the risk of claims soars.

"It may well rise, but to suggest such a divide between the ages of 65 and 66 is ridiculous."

He added that older adults should not be "penalised" when taking out travel insurance.

Recent research from pension provider Prudential revealed that inflation is the greatest risk faced by adults after reaching retirement.


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