Previously the Government and the insurance industry agreed that insurers will ‘signpost’ customers who are turned down because of their age – by referring them on to an insurance broker or another provider who might be able to offer coverage.
However, according to the mystery shopping survey conducted, 15% of people aged 85 or above are not given phone or online quotes for motor insurance because of their age. A further 80% of those are not directed on.
People believe that these results prove the new agreement introduced in April 2012 by the Association of British Insurers does not seem to work effectively.
The findings suggest that a lot of older people are being denied the right to drive and deprived of their independence, purely on the basis of age rather than actual risk.
As a result, age discrimination in insurance and other financial services is legally permitted to continue.
Our experience have taught us that it is feasible to provide successful insurance products to the market without upper age limits or any hidden charges.
Research involved 175 older people aged 60 and over shopping for phone or online quotes from 39 leading insurance companies.
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