Not content with spending their holidays lazing on a beach for a couple of weeks, Britain’s golden oldies are now competing with fresh-faced students to become the gap-year generation.

Research from RIAS, the over-50s insurance specialist, suggests that as many as 775,000 of those aged 55 or over have taken an extended holiday abroad of six months or more, with two thirds choosing a long-haul destination such as Australia or New Zealand. A fifth of those surveyed said that an adventure holiday would be their preferred option, rather than a cruise or a cultural or beach holiday.

However, finding travel insurance for extended trips, especially if high-risk activities are involved, is not easy. The British Insurance Brokers’ Association (BIBA) claims that, even without factoring in adventurous pursuits, people aged 65 and over will be turned down for about 30 of the 140 annual travel insurance policies on the market. When they hit 70 they will find themselves excluded from more than 105 policies.

The situation is slightly better with single-trip policies, but even then the over-65s are excluded by about 30 of the 150 policies on the market. The over-70s have access to 80 policies at most.

Premiums can vary dramatically. Cover limits also differ widely, so always check the small print. Saga, for example, says that it would charge £222 for a worldwide annual travel policy for a 65-year-old, rising to £455 for a 75-year-old. Saga travel cover includes up to £5,000 if the trip has to be cancelled or cut short, up to £10 million for medical expenses and up to £2 million for personal liability. The policy excess is £50.

A Saga spokesman says: “This policy is for 90-day trips, which is the longest trip we cover. However, the customer is able to go on another 90-day trip after returning to the UK. Whitewater rafting, grades 1 and 2, is covered as standard, but we do not cover bungee-jumping.”

Preferential Insurance can provide cover for trips up to 184 days with its single-trip policy, but it does not provide as much cover as some others. For example, Preferential will pay out up to £1,000 for cancellation or curtailment and £1 million for medical expenses, while personal liability cover is capped at £2 million.

A Preferential spokesman says: “A 65-year-old woman or man on a single worldwide trip for 93 days would pay £274 for cover, which includes the excess waiver of £10. For 184 days, the cost is £555. A single-trip policy for someone aged 75 for 93 days would be £579, including the £10 excess waiver, or £1,180 for 184 days.

“However, we cannot cover any hazardous pursuits on a single-trip policy and the upper age limit is 80. You have to be medically screened, which may add a premium for medical conditions.”

RIAS says that it would charge £399 to cover a 65-year-old spending six months travelling the world. However, someone aged 75 would be able to obtain cover for a maximum of only three months, with the premium costing £835. This would provide up to £5 million of medical and evacuation cover and £2 million of personal liability cover. The excess is £40.

Travel insurance from Age Concern for a 150-day worldwide trip would cost £888 for a 65-year-old, or £1,463 for a 75-year-old, and provides medical expenses cover up to £10 million, cancellation or curtailment cover of up to £4,000 and £2 million of personal liability cover. There is a standard policy excess of £50, but you can opt for an excess waiver at £13 for a single person.

MRL Insurance launched its specialist cover, Senior Long Stay Travel Insurance, last year. The policy offers up to 12 months’ cover for people aged up to 74, although the maximum long stay for those aged 75 to 89 is three months. Worldwide cover for a 65-year-old for six months would cost £339. Cover for a three-month worldwide trip for a 75-year-old is £279.

Dave Foyle, of Bradford & Bingley, which recently increased its upper-age limits on single-trip and annual policies to 85 and 79 respectively, says: “The two age groups to show the steepest increase in international travel since 1993 are those aged 55 to 64, with a 140 per cent increase, and the over-65s, with a 110 per cent increase.

“The main reasons are that we are enjoying better health for longer, and this generation has more money to spend in retirement. We have lots of calls from retired people planning holidays that include activities such as swimming with dolphins or scuba diving. Many travel for a few months at a time, which used to be more common among those in their twenties or thirties.”

Check out different insurers before choosing cover. If you are still struggling to find one who will insure you, enlist the help of a broker. To do this, go to the BIBA website at www.biba.org.uk or contact the BIBA consumer helpline on 0870 9501790.

A BIBA spokesman says: “Don’t be put off by rejection. Many firms exclude customers on date of birth, but a broker can find the right policy for you. Make sure that you inform insurers of pre-existing medical conditions or you could invalidate your policy.

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