Older travellers still face sharp increases in travel insurance premiums when they turn 65, research has revealed.
When pensioners take out insurance to travel in Europe there is a 174% increase and 131% increase for worldwide destinations, compared to those aged 64.
Travel is a huge priority for retirees and people 65 or over, but those seeking to enjoy their pension years should brace themselved for a shock at the cost of their annual multi-trip travel insurance policies when they turn 65.
The research conducted by moneysupermarket.com also shows that there are further considerable hikes as people get older.
For instance, when you turn from 65 to 66 years of age there is another average increase of 46% and when you turn 71 there is once again a further 20% hike.
Bob Atkinson, travel expert at moneysupermarket.com, said: 'Anyone who is planning to spend their retirement seeing the world should prepare themselves for the shock of being penalised for turning 65, and this is repeated when you turn 66 and then 70.
'My advice to travellers who find themselves in this situation is to shop around as the difference in premium can vary considerably between providers.
'You should always take out travel insurance no matter how high the premium may seem, as the cost of medical treatment or repatriation would be considerably higher and would leave you with some expensive bills to pay.'
People in the UK are living longer and many pensioners now have far more disposable incomes in which to travel with. The increased levels of price for travel insurance when you hit retirement age doesn't seem to fairly reflect the risk people over 65 pose when going abroad.
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