other time you see reality biting is at retirement. Along with the farewell party, you bid farewell to your medical cover from work. Getting a cover at age sixty is difficult. Lifestyle diseases like hypertension and diabetes may have set in, reducing the choice set of available medical plans. Companies are reluctant to cover older people, and for older people with a ‘pre-existing’ disease, the reluctance is even stronger. Also, most insurance companies will not cover your ‘pre-existing’ diseases and medical costs related to a pre-existing disease for a maximum of four years.
