When planning a holiday, the last thing anyone wants is to encounter unexpected medical costs abroad. However, for individuals with pre-existing medical conditions, securing adequate travel insurance can become a daunting task. Recent insights reveal that many travellers are either unaware of the risks or choose to forgo insurance altogether, potentially jeopardising their financial security during overseas trips.
The Rising Cost of Travel Insurance for Older Adults
Bernie Lawrence, a 77-year-old retiree from Fleet, Hampshire, has experienced firsthand the significant impact of health issues on travel insurance premiums. Once an active and fit individual, Lawrence faced a health crisis in 2018 when chest pains led to a quadruple bypass surgery. Prior to his surgery, he and his wife, Barbara, 79, typically paid under £100 for annual travel insurance covering Europe. However, following his medical intervention and advancing age, their premiums soared.
In 2022, they were charged £302 for the same level of cover. After a brief bout of atrial fibrillation, the couple received a staggering quote of £1,200 for their next insurance policy. “I was astounded,” Lawrence reflected. “All I needed was confirmation that my condition had stabilised.” Eventually, after paying for a private echocardiogram to expedite the diagnosis, their new premium rose to £584, with further increases leading to a £1,009 bill for their latest annual policy.
The Risks of Going Without Insurance
Compounding the issue is a troubling trend: millions of holidaymakers with pre-existing conditions are planning to travel without insurance. A recent survey by AllClear, a specialist insurer, indicates that 18% of Britons intend to skip this crucial safety net. This decision could lead to dire financial consequences, especially in countries like the United States, where medical costs can be astronomical. In 2022, insurers paid out £262 million for medical expenses incurred by UK travellers requiring emergency treatment while abroad.
James Daley, founder of Fairer Finance, emphasises the importance of securing appropriate coverage, particularly for those travelling to destinations lacking reciprocal healthcare agreements with the UK. “In the US, a medical emergency could result in costs reaching tens or even hundreds of thousands of pounds without insurance,” he warns.
How to Secure the Right Insurance
The cost of travel insurance varies greatly depending on several factors: the traveller’s age, medical history, destination, and duration of travel. While comparison websites can assist in finding policies that accommodate pre-existing conditions, it is vital to scrutinise the fine print. Ensure that any disclosed medical issues are explicitly included in the policy details before finalising the purchase.
If mainstream providers prove unhelpful, consider reaching out to specialist insurers or brokers, such as Medical Travel Compared or the British Insurance Brokers’ Association. When applying for coverage, be prepared to disclose any medical issues from the past five years, though some providers may require a longer history for serious conditions like cancer or heart disease.
Tommy Lloyd, managing director of Medical Travel Compared, advises that it is generally best for the entire travelling party to be insured under the same policy. “This ensures cancellation and curtailment cover is consistent across the group,” he notes. “While cost is a significant factor, the extent of coverage and implications for travelling companions with medical conditions are equally critical.”
The Challenge of Finding Affordable Coverage
Understanding the nuances of travel insurance can be daunting. Some common conditions, like asthma or anxiety, may only slightly increase premiums, while high-risk conditions can lead to significantly higher costs. In one case, a traveller diagnosed with angina faced an estimated 50% increase in their insurance premium.
Ian Wardle, a 68-year-old parish clerk from Essex, shared his own struggles with obtaining travel insurance. After being diagnosed with non-Hodgkin lymphoma in July 2020, he received quotes for up to £6,000 for a trip to the US. “I was incredulous,” he remarked. “How could I justify that expense for a week’s trip?”
After considerable searching, he successfully secured a more reasonable policy through AllClear Travel Insurance, which allowed him to travel without the burden of exorbitant costs.
Why it Matters
Navigating travel insurance can be a complex and emotionally charged experience, particularly for individuals with pre-existing medical conditions. While the costs may seem prohibitive, going without insurance can lead to devastating financial repercussions in the event of a medical emergency abroad. Awareness and proactive measures in securing appropriate coverage are essential for safeguarding not only one’s health but also one’s finances, ensuring that holiday plans do not turn into a source of stress and worry.
