Top packaged bank account to stop insuring over 70s unless they pay more - MSE News

Former_MSE_Naomi

Nationwide is to lower the maximum age covered by its packaged bank account travel insurance from 75 to 70, while raising the surcharge paid by older customers from £50 to £65...

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'Top packaged bank account to stop insuring over 70s unless they pay more'

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colsten

Nationwide. [STRIKE]On your side.[/STRIKE] Thorn in your side.

badger09

I'm waiting for my Nationwide travel insurance policy to settle my claim for recent hospital stay in Thailand. Husband's has already been paid, but he wasn't as ill as me:cool:

We're already expecting a substantial increase in the premium at renewal, so this news is a double whammy:(

pinkdalek

Good for them.

badger09

pinkdalek wrote: »

Good for them.

Why?
additional characters

roddydogs

And if youve had the slghtest health problem in the last year its even dearer.

apt

When Lloyds introduced age limits for travel insurance for packaged bank account holders they allowed existing customers to continue without age limits. Nationwide proud to be different.

miller

This would explain why those on the legacy (free) European insurance with FlexAccount haven't had their renewal notification yet which usually arrives in September.

Might be worth redesignating to FlexDirect for some, potentially £125 in interest towards their travel insurance.

Peter668

Be aware that Nationwide charge extra for anyone with a pre-existing medical condition. Several years ago I considered a FlexPlus account for the travel insurance benefits. I was 55 at the time and on medication to control blood pressure and cholesterol. Nationwide wanted an extra £48 pa to provide me with travel cover, even though I have never claimed on travel insurance. As many people over 70 will have some form of medical condition, they may need to pay extra charges on top of the new £65 pa. That may mean that Nationwide's packaged insurance looks costly compared to other options.

harz99

Peter668 wrote: »

Be aware that Nationwide charge extra for anyone with a pre-existing medical condition. Several years ago I considered a FlexPlus account for the travel insurance benefits. I was 55 at the time and on medication to control blood pressure and cholesterol. Nationwide wanted an extra £48 pa to provide me with travel cover, even though I have never claimed on travel insurance. As many people over 70 will have some form of medical condition, they may need to pay extra charges on top of the new £65 pa. That may mean that Nationwide's packaged insurance looks costly compared to other options.

As do pretty much every other Bank/Insurance company - you are a bigger risk, why wouldn't they charge more to take that risk?

harz99

I have had a Flexplus account for many years, having maintained it simply for the WW Travel Insurance and to avoid any complications with my medical conditions being accepted by a new insurer.


I shall get caught for this extra £65 on next renewal in August, after that I'll shop around because my days of long distance travelling will be pretty much at an end.


For a lot of us oldies reducing the value of or taking away this, the best "free" benefit of the account, will also see us leaving Nationwide to go elsewhere.