It is possible to extend the insurance cover by renegotiating the policy agreement?

[jazz90]

Victoria

I would like to know about the insurance cover. It is possible to extend the insurance cover by renegotiating the policy agreement or not? Is it applicable to every type of insurance policy or it is somewhat subjective?

[Friend In Court]

It would help if you were more specific about what you meant by :renegotiating the policy agreement."

Policy terms and conditions are made up by the company's team of lawyers and actuarial accountants are not subject to modification for one client. They base their rates on anything but subjective theories and hunches -- but on statistics -- their policies standard, not subject to change for one person.

[Lexus]

I would like to say that if you own your own individual health insurance policy, continuing your coverage is usually not a concern: Just keep paying your premiums until age 65, at which time you will usually qualify for Medicare. If you get your insurance via a workplace group insurance plan and lose your coverage, the situation is more complicated. You can purchase an individual policy on the open market. You can convert your group policy to an individual policy in some states.

[Friend In Court]

Originally Posted by Lexus I would like to say that if you own your own individual health insurance policy, continuing your coverage is usually not a concern: Just keep paying your premiums until age 65, at which time you will usually qualify for Medicare. If you get your insurance via a workplace group insurance plan and lose your coverage, the situation is more complicated. You can purchase an individual policy on the open market. You can convert your group policy to an individual policy in some states.

Lexus, this poster is in Australia, not the U.S. So Medicare is inapplicable.

[jay82]

What would be the procedure if the same PI insurance policy you talking about renegotiating was taken in combination with another policy, for instance public liabilty policy?

[sandyclaus]

Originally Posted by jay82 What would be the procedure if the same PI insurance policy you talking about renegotiating was taken in combination with another policy, for instance public liabilty policy?

What's the basis for your question?

In general terms, I'd think that any insurance coverage, whether taken alone or in combination with another policy, could be extended through renegotiation.

Is there a specific question you have with regards to this?

[jazz90]

Thanks for the overwhelming response, my internship made me delayed in responding to forum and long weekend as well.

Originally Posted by Friend In Court Lexus, this poster is in Australia, not the U.S. So Medicare is inapplicable.

True for Victoria, here Medicare is unavailable.