Aegon targets over 50s with pay per day travel cover

As a specialist insurance provider for the older traveller, it plans to offer a range of products including new and pay per day cover.

Its website www.gnuinsurance.co.uk goes live tomorrow.

Paul Thilo, general manager at Gnu Insurance, said: "The older you get, the more difficult it is to buy travel insurance as many mass market travel insurers exclude on the basis of age or pre-existing medical conditions. The reality is that as we age, the desire for travel does not simply diminish; in fact as the market makes it harder to get cover, the need for comprehensive travel insurance increases.

"As lots of over 50s make the most of their freedom by increasingly travelling to far flung destinations, we wanted to provide them with a tailored solution for their unique needs.

He added: "Pay per day is a smarter kind of travel insurance, perfect for the spontaneous holidaymaker. With one initial payment and no need to commit to a destination, travellers get the security and reassurance of year round cover with the benefits of a single trip policy.

"It's great for people who are likely to go on holiday more than twice a year but aren't sure enough of their plans to invest in annual cover. Essentially, it means older travellers can get the right cover at the right time and only pay for what they need."