Travel insurance 'vital for 'grey gappers''

Older people heading off on a gap year should take out travel insurance.

Travel insurance is an essential purchase for any older Britons considering heading off on a gap year in the near future, a specialist has insisted.

Research published yesterday (September 20th) by Post Office Travel Insurance revealed that 25 per cent of over 55s are thinking about the possibility of enjoying an extended single trip travel excursion around the world in the next two years.

Gap years are traditionally thought of as something more popular among the younger generation, but the study revealed that just 19 per cent of student account holders are planning to go away at present due to financial restraints.

However, this trend is seemingly changing as so-called "grey gappers" are eager to experience destinations like Australia and New Zealand.

Sarah Munro of the Post Office reminded such people that taking out travel insurance prior to leaving the UK is vital.

This comes after a survey by Fair FX found the majority of holidaymakers want to see the term "zero per cent commission" banned in the foreign currency exchange market.

By Nate Sawyer