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subject: Retirement Health Insurance Coverage [print this page]


Retirement Health Insurance Coverage

You would be wondering if there are options to buy health insurance covers for retired or senior citizens. Yes, the elder people now can get insurance coverage as there are many companies out there in the Insurance business market that specialize in providing various retired person health insurance policies. Here in this article Ive highlighted some reasons why retired people require a life insurance coverage tailor made for them.

Glimpses of hope in the health insurance business for the retired

Consider a scenario where you have taken a 25 year term health insurance policy at the age of 25 years. Obviously, by the time you are 50, your insurance policy gets expired. So after the age of 50, you will be living without any health insurance cover! In all practicality, this is the age when people actually start requiring the insurance cover most, as the probability of an eventuality is more during the life period after 50 years. But, without any insurance cover, they are helpless in such a situation and most people feel its a planning mistake on their part and try to go on living without the insurance cover. This is a case with most of the retired people. But there are glimpses of hope in the health insurance business for the retired and senior citizens now.

At the age of 50 your obligations will be less but it is good to have a health insurance to fight typical sustenance scenarios.
Retirement Health Insurance Coverage


In fact you would have retired and may be employed in some other company or many may not be employed at all. But you may still have to have some insurance cover to manage your medical urgencies that may come anytime at this stage of life. But what is the possibility of getting a good insurance cover? Most people would argue that at the age of above fifty, your obligations will be less and your dependents will not require that much amount from you in case you get ill. They would be able to pull on the urgencies with the savings you have. But this assumption is not true for everyone. This is especially true if you are in a late marriage and if your children have not grown up to earn the bread and butter for the home or for self sustenance. This is a typically tragic scenario! If you fall in such a scenario or something very similar, then you absolutely do require a health insurance cover.

A look at the present national economic scenario and global condition of commodity prices, with the rising inflation rates, higher priced essential commodities, high interest rates of mortgage and other personal loans, increasing rental charges, expensive medical expenses combined with increasing health disorders, how can any mediocre or low level people can save anything? In real life most employed people would be spending their hard earned money for their children's education, health maintenance and for setting up their own home. After all these expenses, there will be nothing left in the name of savings. By the time they retire, their savings will be nearly non-existent and more often than not, they will be struggling with bad credit lines.

Thus, I feel that health insurance cover for senior citizens and retired is a must!

by: Tony




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