A new travel insurance company has launched to offer your over 50 clients an easier and simpler means of obtaining travel insurance.
Boomers Travel Insurance is an independent business that was established in response to what the new company’s managing director described as mistreatment by other insurers to the baby boomer market.
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Ian Jackson said despite the growing number of over 50 travellers (think about how quickly those river cruises are selling), they’ve been getting the ‘raw deal’ from insurers that aren’t accommodating to their requirements.
“They’ve been getting a raw deal… particularly if they have a relatively simple medical condition that shouldn’t stop them travelling.”
Ian Jackson, Boomers Travel Insurance managing director
So aside from saying they target the over 50s, what sets the company apart?
Boomers is underwritten by the world’s largest travel insurer, Allianz Global Assistance, and has no upper age limit for general policies. So your clients can potentially be one of the oldest people in the world and still have access to general coverage.
The company also offers automatic coverage for more than 30 of the most common types of pre-existing medical conditions, including high blood pressure and high cholesterol.
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And if your clients are worried those pre-existing approval processes will increase prices then think again.
A spokesperson told KarryOn prices are similar to other insurers, if not better.
Most approval procedures for travellers over a certain age are bypassed – meaning they won’t need to make unnecessary trips to the doctors.
Other features of Boomers Travel Insurance include lifestyle packs providing specialist insurance for cruisers, golf holidays, skiing and adventure activities.
There’s also free insurance for grandchildren travelling with policy holders.
“Boomers Travel Insurance will look at things differently and consider peoples’ situations properly. We’ll open the door for a lot of under-valued travellers.”
Ian Jackson, Boomers Travel Insurance managing director
Mr Jackson claims Australians aged over 50 account for about one-third of the population and make an average of about 2.8 million overseas visits each year, as well as estimated 4.3 million domestic trips.
NOTE: An earlier version of this story referred to Boomers as a subsidiary of Allianz Global Assistance. Boomers is not a subsidiary, however its insurance is underwritten by Allianz Global Assistance.