Over 50s Struggling To Get Travel Insurance, Lloyds TSB Discovers

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A quarter of holiday makers aged fifty and over are struggling to get adequate travel insurance. Worldwide travel insurance for a couple up to 79 years old available through Lloyds TSB added value current accounts.

Getting older is no longer a barrier to traveling the world, however over a quarter (26%) of adults aged 50 and over going on holiday are struggling to get adequate travel insurance for various reasons, says research from Lloyds TSB.

Nine out of ten (90%) British adults aged fifty and over say that they go on holiday, with almost half (49%) taking multiple holidays in a year on average. In addition around one third (32%) of holiday makers in this category say that they are travelling more now than in previous years. However, around one in four (26%) has experienced difficulties when buying insurance for their holiday.

The research reveals how the main cause for holiday makers aged fifty and over being refused cover is an existing illness or injury, with 15% being refused cover for this reason, rising to 16% for those 60 and over. Similarly over one in ten (11%) has difficulty buying insurance due to their age, rising to one in six (17%) for the 60 and overs.

Jatin Patel, director of personal current accounts at Lloyds TSB says:

“No one should be grounded from travelling because of their age. It is clear that age holds no barriers for those wanting to explore new frontiers, so age shouldn’t prevent older holiday makers from accessing adequate travel cover at a reasonable price.”

Lloyds TSB added value current accounts all come with comprehensive travel insurance policies which can cover customers up to the age of 79, making them a cost effective hassle free way for many to obtain difficult to come by travel insurance for this age group. The bank will also assist customers in getting a quality insurance cover up to an unlimited age on a freestanding single trip basis, with no additional commission costs. Furthermore when customers sign up for a packaged account they don’t need to register for their travel (or any insurance) cover, this is automatically done for them.

Top tips for ensuring you are covered:

1. Always check the terms and conditions of your policy in case there is an age limit.
2. Any pre-existing conditions should be declared before booking any travel, as they may be subject to an additional premium and if you have to treat a pre-existing condition that hasn’t been declared it is highly likely that your insurance will not cover any costs incurred. .

Notes to editors:

Silver - European Couple - Up to 65
Gold - Worldwide Couple - Up to 79
Platinum - Worldwide Family or Winter Sports - Up to 79
Premier - Worldwide Family or Winter Sports - Up to 79

Please visit Lloyds TSB Added Value Current Accounts for more information.

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2147 adults. Fieldwork was undertaken between 17th and 20th June 2011. The survey was carried out online. The figures have been weighted and are representative of all GB adults aged 50+.

Further information: contact Claire Barratt, media relations manager, Lloyds Banking Group: 020 7661 4668 / claire.barratt(at)lloydstsb(dot)co(dot)uk

For customers over 79 Lloyds TSB will also assist customers in getting a quality insurance cover up to an unlimited age on a freestanding single trip basis, with no additional commission costs.

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Nathan Hatch
Halifax
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