Cutting costs by sacrificing travel insurance is a 'false economy' for the over 50s, according to new advice from RIAS.
Older travellers should view adequate insurance as an "essential" pre-holiday purchase akin to foreign currency and vaccinations, RIAS has said.
The over 50s insurance specialist has advised mature consumers against cutting bank on the cost of overseas trips by choosing the cheapest cover option. While the price of the minimum cover package may seem attractive, it could provide insufficient protection.
New advice from RIAS suggests that as well as choosing the most appropriate travel insurance policy, the over 50s should inform providers of any pre-existing medical conditions and also ensure that their package offers protection against cancellation.
"It is essential to be familiar with the terms of the policy in order to know exactly what cover you are getting for your money" the firm's managing director Janet Connor said. "This is particularly the case with travel insurance for the over 50s as there is often the important consideration of pre-existing medical conditions."
"When buying insurance consumers should think of a policy as something they need to tailor, rather than buying a one-size-fits-all product," she added.
A recent poll from Saga found that 25 percent of the over 65s have had travel insurance applications rejected.
