For some this can involve investing in trips abroad – be it a relaxing cruise or an adventure sports holiday, involving activities such as bungee jumping and water skiing.
It certainly sounds like an ideal way to enjoy your retirement, especially for those still young at heart.
Yet whilst there are a growing number of over-55’s flocking to take part in extreme sports holidays, many do so without taking out suitable travel insurance beforehand.
According to a survey carried out by the Association of British Insurers (ABI) more than 20% of those surveyed admitted to taking risks whilst on holiday.
More than half of those surveyed admitted to partaking in more alcohol than usual whilst on holiday, with a further third saying they took the time to indulge more in all-inclusive resorts.
One in five couples said that either themselves or their partner had been injured whilst holidaying abroad, with one in ten admitting to not following safety advice that they would usually give their children during the holiday.
However, around 65% of those surveyed said they didn’t take out holiday insurance on their last trip. This can make worrying reading when you consider that the over-55 traveller makes, on average, three times as many claims whilst on holiday than younger holidaymakers.
Whilst holiday companies are not seeking to dissuade older holidaymakers from having fun on holiday, many find themselves being warned to just be careful on holiday.
In response to the ABI’s survey, and the increased risk factor, the Government has been prompted to re-write their advice aimed at the older holidaymaker. With the main focus about being careful and to ensure they take out suitable travel insurance before venturing abroad.