Q.I'm one of those older fathers sending a daughter to college in my 60s. I lost my job with insurance benefits and I'm going on to Medicare in a year. My wife has insurance through her job but can't bring on her family. That leaves our daughter "hanging in the wind." I bought a temporary individual policy for her but wonder what is really practical. The university offers a policy at a very low rate I can lock in for the next four years, but it has a $200,000 cap, and if she were to become seriously ill with something costing more than that, we'd be in trouble. Do you have a suggestion?
Ans. Try a search online of : Catastrophic Insurance Policies. You should find a low cost policy, called "an umbrella" to add to the university policy. Check also with your insurance agent. Your lucky the university offers this coverage that you can a add supplement to.