Holiday insurance key for 'second generation' backpackers
Tue, 07 Feb 2006
Changes to the pension rules could mean that more "second generation" backpackers will be seeking holiday insurance.
From April, people eligible to draw on their pension will be able to withdraw up to 25 per cent of the money in their unused pension funds tax free and around 35 per cent said they plan to use this lump sum to go travelling.
However, anyone planning to take a trip to see the world should ensure they have adequate insurance cover before jetting off on holiday – just in case the worst should happen. The policy should be able to cover any unexpected medical treatment costs as well as protecting possessions against theft or damage.
Mark Cheshire, chief executive, Lloyds TSB Private Banking said: "The changes to the pension rules will give people much more financial freedom and flexibility.
"Whether it’s been your lifelong ambition to explore the world or you simply want to pay off the mortgage, the options are open." 
© Adfero Ltd
An online quote will take less than a minute, and you can see just how much you could save.
About this policy
Travel Information
- Holiday Insurance Guide
- Holiday checklist
- Sonar Travel FAQ
- Foreign Money Tips
- Travel Tips with small children
- E111 Form
Sonar Direct Media Centre
- Holiday Insurance Industry News:
- June 06
- May 06
- April 06
- March 06
- February 06
- January 06
- December 05
- November 05
- August 05
- July 05
- June 05
- April 05