Over 65 Travel News

25 March 2006  Seniors desire disposable income
An increasing number of over 50s are planning leisure trips and cruises – a fact that could result in more of them needing adequate travel insurance.

A new survey for Friends Provident has shown that the strength of the "grey pound" is on the increase as growing numbers of those in their late 50s and early 60s are choosing not to retire due to the pleasure and choice that their disposable income brings them.

With their children having left home and many being at the top of their careers, the more mature members of society are purchasing 50 per cent of skincare products, 80 per cent of all luxury cars and 80 per cent of leisure cruises, resulting in an increasing demand for senior travel insurance.

"This is a consumer that came of age in the 60s. They believe in using their money for fun, enjoyment and new experiences. They don't want to give up work because they are uneasy about the thought of ceasing to function in society and as consumers," commented Jeremy Ward, head of pensions marketing at Friends Provident.

The trend forecasters The Future Laboratory projected that by 2020, of the 8.1 million 55 to 64 year olds that will make up society 64, per cent will be bridge careerists - choosing to stay in work as a result of economic pressures.




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