SilverbackPeru wrote:Thanks Alan. So it should be possible for a couple get get a good second tier coverage for $1000 a year?.
Is it easy to cancel health insurance and then get another one later on a few years later. I've heard that it starts to become difficult to get a new insurance the older you are and depending on your health you might not get insurance at all. Is there any truth in this? It's a concern as i'm almost reaching the 50 mark.
Does health insurance get cheaper if you are older or as i've been told "it gets more expensive cos more things can go wrong with you!", any truth in this?
How would you be able to cover health insurance in older life as pensions are a lot lower than an income, can you trust pension schemes in Peru? (As my in-laws lost all of their pension money) how can you cover against this?
Does health insurance include retirement homes or do you need to plan for that seperately? Are returement homes affordable?
Is it possible to save for any of this on an average income of $3500 to $6000 a year income?
1. Don't think it is possible for $1,000 a year for a couple.
2. You can cancel and buy again if you are healthy/can pass underwriting and buy a policy before you turn 65.
3. Health insurance cost increases at intervals as you are younger and then yearly as you get older. Prices max out at age 70 and then become fixed for the rest of your life.
4.From Pensions,investments,savings or work. To avoid this you could purchase a deferred fixed annuity that would start paying you at the same time as your pension, but now you are taking on insurance company risk.
5. No and Hell No!
6. See answer #5.