Over 85 travel insurance news
From 31st March 2013, banks and building societies selling packaged accounts will have to adhere to new rules just published by the Financial Services Authority (FSA).
Around one in five UK adults have a packaged account, which is current account bundled up with a range of insurance policies and other features.
The regulator wants to increase the level of consumer protection in the market, so banks and building societies will have to:
1. Check whether the customer is eligible to claim under each policy and share that information with them.
2. If the sales adviser is recommending policies in the package, they must establish whether each policy is suitable for the customer and alert them if some are not.
3. Provide customers with an annual eligibility statement setting out the requirements to claim each of the benefits under each insurance policy in the package, which should prompt customers to check whether their circumstances have changed and whether the policies continue to meet their needs.
Watch out for mishaps!
There are a number of other mishaps that may arise on holiday, the Fair Investment Company said, so being prepared is of utmost importance.
Rachael Stiles, Personal Finance Editor at the firm, said: "The volcano might have caused mass disruptions, but this will not make any difference to other factors which continue to cause people to claim on their travel covers every day."
She explained that this may include illness, delay, injury and cancellation, which unfortunately are still realities of heading overseas.
In Scotland the idea of a gapper being a young twenty something is being thrown out of the window because it is now the Over 60s that are making up the biggest chunk of gap year people!
The scottish tourist office have announced that there has been a decline in the number of younger people taking gap years, this is mainly due to the credit crunch and the fact more and more older people are spending the kids inheritance!
EHIC is still essential for the over 85s heading to Spain
Don't be put off by the news that the Over 85s are being turned away from Spanish hospitals beause this is totally illegal under curent European law.
You have every right to health treatment in the same way a Spanish person would have on the NHS so stand up for your rights.
That said you should always travel with over 85s insurance too as a backup for any medical complications for for baggage or missed departure too.