Grey market travel insurance costs push silver surfers' trips into the red - InsuranceNewsNet

InsuranceNewsNet

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading newswires
Topics
  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property & Casualty
  • Advisor News
  • Washington Wire
  • Fiduciary Rule
  • INN Exclusives
  • Newswires
  • INNsider
  • INN Exclusives
  • NewsWires
  • Magazine
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • ★ Regulation News
  • Podcast
  • Magazine
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Susbcribe

Get Social

  • Facebook
  • Twitter
  • LinkedIn
  • Google+
Insider
newswires
newswires RSS Get our newsletter
Order Prints Share
August 3, 2018 newswires No comments Views: 3

Grey market travel insurance costs push silver surfers’ trips into the red

PR Web

U.K. (PRWEB UK) 3 August 2018

Many problems confronting the NHS face the insurance sector and just as the NHS is treating an ageing population, the insurance market faces a similar dilemma.

The delivery of affordable premiums to an increasing section of society with pre-existing medical conditions should be a concern for all. 54 percent of over 55s see insurance as a necessary evil and remain unaware of the cost of medical treatment abroad - something the industry must work harder to communicate, according to Aquarium.

"There is an argument that Brits brought up with the NHS have no idea of the true cost of healthcare and the true value of travel insurance," said Aquarium Software Director, Mark Colonnese. "We face a stark choice about long-term travel insurance costs in the face of an ageing population; exactly the same challenge we face with the NHS. Premiums must be realistic yet affordable and technology has a key role to play in keeping prices as low as possible," said Mark. Over the next 15 years, the number of over 65s will increase by 4.4 million. Many with medical conditions will want to travel. The blunt view is premiums must rise to reflect the increased risk, but such candour risks turning people off travel insurance altogether.

"Expecting consumers to pay more for travel insurance than the holiday itself will see more take chances and travellers won't be truthful about medical conditions if unaffordable premiums are the only reward. This is the reality we face. We don't have all the answers, but we do encourage urgent national debate. Technology offers some of the solutions for sure - tailoring cover to individuals and specific trips and activities, helping to keep premiums low and encouraging honest declarations. Kick starting a conversation on this needs to happen sooner rather than later," concluded Colonnese. Aquarium Software is used by a number of travel insurers; pet insurers; and other consumer service providers and affinity partners in the UK, Europe, USA and Canada. For further information visit http://www.aquarium-software.com

Read the full story at https://www.prweb.com/releases/2018/08/prweb15666140.htm

Older

Firm crusades for insurers to cover alternative therapies

Newer

Best’s Briefing: Insurers Step up Brexit Plans in Absence of Clarity

Advisor News

  • Going Broke Remains Top Concern In Retirement: CPA Survey
  • More Than 1 In 4 Americans Would Consider Divorce Over A Financial Secret
  • Financial Advisors Can Do Some ‘Life Coaching’
  • Commonwealth Financial Network Licenses Its 360° Software To MassMutual
  • The Way We’ve Always Done It Won’t Work With Millennials
More Advisor News

Annuity News

  • Securian Financial Posts Solid 2018
  • SEC Extends Comment Period For Proposed Rules On VA And Variable Life Disclosures
  • ‘Dream House’ Raffle Winner Choice: Historic California Home Or $5M Annuity?
  • RGA Announces Longevity Transaction With Manulife
  • Jackson National Inks Deal To Distribute Annuities To RIAs
More Annuity News

Health/Employee Benefits

  • Insurance Networks, Doctor Referrals Don’t Always Offer Full Picture
  • What Medicare For All Might Look Like If It Really Happened
  • Furloughed Workers Withdrew From Retirement Funds: Study
  • Democrats Roll Out Bill To Let Americans Buy Into Medicare At 50
  • Survey Finds Health Plans Are Struggling With Value-Based Reimbursement
More Health/Employee Benefits

Life Insurance

  • Securian Financial Posts Solid 2018
  • Understanding The Benefits Of Whole Life Insurance
  • Allianz Life Reports Solid 2018 Financial Results
  • Man Who Defraud Union In Life Insurance Scam Sentenced To Probation
  • SEC Extends Comment Period For Proposed Rules On VA And Variable Life Disclosures
Sponsor
More Life Insurance

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.
select Newsletter Options

Most Popular

  • What If The Market Goes Up? Why An FIA Is Better Than Stocks
  • NAIC Group Puts IUL Illustration ‘Multipliers’ Under Microscope
  • Understanding The Benefits Of Whole Life Insurance
  • NAIC To Begin Debate On IUL Illustrations
  • 3 Life Settlement Trends To Watch In 2019

Featured Offers

Text Ads

Press ReleasesAll press releases

  • Great American’s Annuity Customers Share Their Secrets to a Great Retirement
  • Securian Financial Introduces Affordable, Protection-Focused IUL with No-Lapse Guarantee
  • TD Ameritrade Institutional Integrates with iPipeline to Automate New Account Opening
  • RFP R2019-78
  • Bunker Launches Live Certificates of Insurance, A Modern Solution to Insurance Fraud and Non-Compliance
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty News
  • Advisor News
  • Washington Wire
  • Regulation

Top Sections

  • INN Exclusives
  • INN Insider

Our Company

  • About
  • Editorial Staff
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter Google+
© 2019 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.