WEALTH CARE
Health insurance in the sunset years, Abiding the taxman
- Published: 5 Nov 2012 at 00.00
- Newspaper section: Business
I'm 62, and my insurance policy finished a few months ago. I want to buy health insurance, because I'm high-risk at this age and I don't want to burden my family. I saw a TV commercial for insurance for retirees. I don't have any and am not sure that's a good thing.
_ ChatriANSWERED BY...Teera Phutrakul, CFP, Chairman, TFPA When you say you are in a "high-risk" category, I assume you are referring to your age and not your health. Given your age, it is standard protocol that most insurers will insist on a medical check-up before they accept you as a client.
However, if you are in poor health or have what insurance companies like to call pre-existing conditions, which simply means any medical condition with signs or symptoms up to five years prior to the first policy effective date that would cause a reasonable person to seek diagnosis, care or treatment, then chances are you will be turned down.
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