Travel insurers cut benefits for seniors and children in Hong Kong

Premiums ranged from $145 to $509 for a 7-day trip in Asia.

Nine in 10 travel insurance plans lowered their maximum benefit for medical expenses and/or personal accidents for seniors and children in Hong Kong, according to a recent survey by the Consumer Council.

The survey further found significant differences in coverage and benefits amongst single-trip travel insurance plans in Hong Kong, raising concerns particularly for seniors and children.

The study examined 27 plans offered by 11 insurance companies between February and March.

In some cases, reductions reached as high as 75%, or the coverage was excluded entirely.

Only three plans charged seniors higher premiums, ranging from 27% to 36% more, to maintain full benefits.

Meanwhile, 18 plans imposed a maximum enrolment age, generally between 79 and 85 years old, although three allowed enrolment up to age 120.

Premiums varied significantly. For a 7-day trip in Asia, excluding plans with senior-specific rates, premiums ranged from $18.85 (HK$145) to $66.17 (HK$509).

For a 14-day trip worldwide, the cost spanned $31.33 (HK$241) to $111.67 (HK$859). The survey showed that plans priced similarly could offer very different levels of protection.

The Council urged consumers to assess coverage and benefits carefully, especially for seniors and children, rather than choosing based on premiums or defaulting to familiar providers. It also recommended that insurers review benefit adequacy and consider raising enrolment age limits.

($1.00 = HK$7.76)