<p>Tolerance to increasingly frequent, intense, and prolonged heatwaves depends on vulnerability, with elderly people being among the most vulnerable groups. However, many elderly people do not perceive themselves as vulnerable to heat. Vulnerability results from exposure, sensitivity, and adaptive capacity. This paper explores the factors influencing perceived vulnerability and aims to understand why elderly women often report low perceived vulnerability. For this purpose, semi-structured interviews were conducted with seven elderly women during the summers of 2022 and 2023. The analysis of interview transcripts aligns with existing literature: low perceived vulnerability is linked to a limited knowledge of heat-related risks, the relativisation of vulnerability through peer comparison, and the unrealistic optimism bias. Moreover, the factors influencing perceived vulnerability differ from those identified in epidemiological studies in their nature, effects, importance, and methods of assessment. Perceived vulnerability is shown to be personal, nuanced, and variable, and its study could offer insights for rethinking prevention.</p>