Given the high cost of medical bills and repatriation, false declaration however is seriously false economy. New technology will help make it easier for customers to take out travel insurance and make it crystal clear that medical conditions need to be declared to be covered.
(PRWEB UK) 18 January 2018
The FOC survey also shows that 77 percent of over 55s are planning a summer getaway in 2018 and 1 in 20 of them with a pre-existing medical condition will knowingly not declare it on their insurance. Policy cost is often cited as the reason for non-declaration, but Aquarium says everyone needs to think twice before invalidating their insurance in this way.
A survey undertaken on behalf of Aquarium reveals that 60 percent of over 55s are always covered by travel insurance. This is nine percent above the national average, but taking the FOC survey into account, some of these people may be buying travel insurance not worth the paper it is printed on and the small print needs to be checked carefully. In November last year, a JustGiving page was launched for Adam Teale, who fell ill abroad without insurance and £100,000 is needed to fly him back to the UK. On the flip side, a man with ‘comprehensive cover while cycling’ found his claim rejected, as the small print excluded damage to bikes.
“Our YouGov survey showed 46 percent see travel insurance as a ‘necessary evil’, so it is not surprising it is not afforded ‘priority’ status when planning a holiday,” said Aquarium Software Director, Mark Colonnese. “Given the high cost of medical bills and repatriation, false declaration however is seriously false economy.
New technology will help make it easier for customers to take out travel insurance and make it crystal clear that medical conditions need to be declared to be covered,” Colonnese concluded.
Aquarium Software is used by a number of niche general insurers, specialising in travel and pet as well as other consumer service providers and affinity partners in the UK, Europe, USA and Canada. For further information contact Aquarium Software on +44 (0)161 927 5620 or visit http://www.aquarium-software.com