Travel Insurance Niall Palmer Saga Insurance Overview About Saga - - PowerPoint PPT Presentation

Travel Insurance Niall Palmer – Saga Insurance

• About Saga
• Types of Travel Insurance
• What Travel Insurance covers you for
• Preparing to travel
• Where to buy Travel Insurance
• Dos and don'ts
• Case Studies

Overview

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About Saga

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• British company based

in Folkestone, Kent for 65 years

• Focused on serving the

needs of those aged 50 and over

• Started out as a Holiday

company and soon became a pioneer of holidays in Europe later expanding into the financial and insurance markets

The Saga Group

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Types of Travel Insurance

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• Single trip Suitable if you only have one trip

booked and do not intend on travelling again soon after

• All Saga Travel policies are designed for family

travel.

• Along as the policyholder is over 50 then up to 9
• ther people can be named of any age.. They

will also be able to travel independently (Annual

• nly)
• No upper age limit for Saga
• Annual cover (Multi trip) Suitable if you have

more than one holiday booked or know that you will be travelling abroad throughout the year

• Included with your holiday
• Bank policies
• Often have an upper age limit
• Not all conditions covered
• May require conditions to be declared
• If you rely on a bank account policy it may be best

to check the terms

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What Travel Insurance covers you for

• Cancellation cover commences from the

moment you buy your Travel Insurance or the date your annual policy starts

• Cover is provided in line with the following:
• This must be as a direct and necessary result of

any cause outside of your control, which was unforeseen at the start date of your policy or at the time of booking your trip, whichever is the later.

• This will cover all costs paid prior to departure

– flights, accommodation, hire car, parking, excursions etc.

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Cancellation & Curtailment

• You will be covered for expenses incurred abroad
• Once back in the UK any further care will fall into the NHS
• r Private Medical Insurance if you have a policy that

covers this

• Slip , trips and falls will all be covered – Not just

declared conditions

• Saga provide cover for a plus one to travel to you

should it be medically necessary

• Insurers will always try to pay the hospitals on your

behalf

• Sometimes this is not possible and we will look to refund

you as soon as possible should you be out of pocket

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Emergency medical expenses

• With Saga you will only have to pay one excess per

claim (£70) – even if you are claiming under more than

• ne section
• It is worth checking how your excess works when you

purchase your insurance as they do differ

• Missed departure
• Delayed departure
• Baggage
• Enforced stay
• Loss of Passport / possessions
• Policies will have limits applied to what will be paid for an
• item. The best way to cover an expensive item is through your

home insurance

• Personal money
• End supplier failure
• This is not standard on every policy and covers you in the

event of a hotel or airline (EG Monarch) going bust

Other cover areas

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• Across the market there are products that

will mix & match all of the covers mentioned

• For example - There are policies that will

exclude pre- existing medical conditions and only offer cover for new conditions for the same or a lower premium

• Would you buy a policy that excluded your pre-

existing medical conditions?

• Saga have recently allowed flexibility in

the cover limits

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Ensure the cover is suitable for you

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Preparing to travel

• Ensure you have enough medication in the

event of your trip being unexpectedly extended

• If you have a portable converter don’t forget to

charge it or take additional batteries

• Will you require Oxygen/ Medication on the

plane?

• If you require oxygen whilst flying your airline or

travel agent will be able to arrange this (4L max)

• Airline policies relating to carrying and using
• xygen will vary so it is always best to check at the

time of booking – For example they may want you to confirm your fitness to fly.

• If you are taking medication, again it is best to

check with the airline to avoid any delays at the airport

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• Next of kin details in passport
• Share your travel plans and contact

details of any accommodation with your friends and family

• Research where you are travelling to
• Will you require medication on

any day trips?

• Are the surrounding areas easily

accessible with or without oxygen

• BREXIT

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Where to buy Travel Insurance to cover medical conditions

• There are different ways Insurance companies

carry out medical screening, knowing this may help you find the policy that best suits your needs

• Saga use a system whereby we ask what your medical

condition is and will then ask you questions about that

• This will be the same as what you find on the

Aggregator sites such as Compare The Market

• Others such as Travel Insurance Facilities or Boots will

ask you what medication you are taking

• This will then go into a detailed question set that can

take more time due to the number of questions asked

• Due to the difference in screening this can result in

different premiums and also different terms on the policy being applied.

• An example of this is that where Saga has one excess

across the policy, Boots may apply a higher excess to the medical aspect in order to be able to provide cover.

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Do’s and Don’ts

• Do…
• Purchase your insurance as soon as you book your

holiday to ensure you are fully covered

• Declare all medical conditions and refer to your Doctor

for a letter should you need to take medication abroad

• Remember to call your travel insurers if your conditions

change before your travel date

• Consider where you are going for medical services /

How the climate could effect you / Flight duration

• Research or ask questions of your travel firm to ensure

that any special requirements can be catered for

• Be confident that as long as your Dr says you are fit to

fly and you are aware of, and arrange, any specialist requirements travelling with Pulmonary Fibrosis or other airway conditions, should not be a problem

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• Don’t…
• Travel against your Dr’s advice – It

sounds obvious but some people do and it will invalidate any Travel Insurance you have

• Wait until the last minute to buy your

travel insurance.

• Always buy your insurance as soon

as you book your holiday

• Be tempted to just go for the cheapest

insurance you find.

• Although many cheaper policies are

comprehensive, be sure to confirm that any medical conditions are covered in full and that the policy suits your needs

• Although a phone call may take time

you will be able to ensure you are fully covered for everything you wish to do

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Case studies & Stats

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• 70 Year old Male – California
• COPD / Hypertension / Recent chest

infections

• Required 1 week in hospital and a Dr

escorted repatriation

• Total cost £80,000
• 60 year old female – Texas
• Emphysema / Hypertension
• Suffered respiratory failure and bronchitis

whilst away

• Requires 8L of oxygen so required a

specialist air ambulance home

• Total cost £130,000
• 68 year old male – Turkey
• No existing conditions
• Started to have chest pains and admitted

to ICU with suspected heart attack

• Total cost £25.000
• 82 year old male - Spain
• Tripped whilst in bathroom resulting in a

broken leg requiring an operation

• Total cost £36,000

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• 25% of adults travelled uninsured in 2017
• £385 million was paid out by travel insurers

in 2017

• The largest claim was for what amounted

to a medical bill of £760,000 while visiting America. Between 1st April 2017 – 30th March 2018

• Average cancellation claim £1,561
• Average medical claim in Spain £4,541
• Average medical claim in USA £14,245
• Average medical claim all countries £5,255

Above figures from Finder.com 24

Country Cost of hospital bed per day Average cost

• f 5* hotel

Spain £332 £161 France £428 £232 U S A £482 £344 Greece £287 £108 Italy £365 £188 Portugal £215 £119 Thailand £29 £119 Turkey £83 £78 Cyprus £299 £151 Netherlands £533 £116

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Questions