Why is age important when purchasing travel insurance? Published by Chris Harvey August 11, 2008 When purchasing travel insurance. the premium is based on the insured’s age, trip cost and trip length. Related articles: Can I get live assistance with a quote or purchase? Are there medical conditions that are not covered by travel insurance? Should I consider extending my return date to accomodate any unforseen delays in my return home? What other coverage is typically included in an AIG Travel Guard travel insurance plan? What is covered under the "Cancel for Work Reasons" benefit?