Many over 60s are not prepared to sacrifice holidays despite credit crunch

Not all older people are cutting back on holidays despite the credit crunch according to a new study out today. According to a poll by Intune*, the financial products and services provider set up and owned by Help the Aged, 80% of respondents aged over 60 now take at least two foreign holidays a year, while nearly one in six enjoy more than four trips abroad. The findings show that while much of the population tightens its belt as the economy clouds over, a significant proportion of older people surveyed are not prepared to stint on their weeks in the sun and want to live a more jetset lifestyle in retirement. Less than 1% of those polled now holiday in the UK each year.

Stuart Castledine, Managing Director of Intune said the findings highlight that many older consumers are not prepared to sacrifice their holidays once they retire. “Nearly half of respondents surveyed said they regretted not travelling more when they were younger with 52% citing cost as the main reason and 19% saying they were too busy. Now they have the time and often the money to go on holiday they are determined to enjoy as manytrips away as possible during their retirement.

“However, many companies make it more difficult for older people to go on holiday by imposing an upper age limit on their travel insurance products. Intune provides single trip and annual insurance policies for travel in Europe or across the world. The policies have no upper age limit and pre-existing conditions may be covered,” he added.