SMART MONEY: Health insurance for all
DEAR BRUCE: Is cancer, heart attack and stroke insurance a worthwhile purchase or a waste of money?
We have health insurance now.
My husband is 69 years old and I am 58.
We are both in good health and are at a loss about whether this is necessary or not. — K.B.
DEAR K.B.: You ask a very good question, and the answer is relatively simple.
If the health insurance you carry offers adequate coverage for all illnesses, then there is no reason to buy a specific policy.
If it doesn’t offer coverage for all illnesses, then you are advised to find a policy that does offer that specific coverage.
Policies that offer specific coverage for such illnesses as heart attacks or strokes are not worthwhile and generally expensive. You want to be covered by one policy for all of these events, and that is by far the best way to go.
DEAR BRUCE: Back in the mid-1990s, I purchased 18 shares of a company.
The problem is I have no idea where this certificate is. I have moved since the purchase and possibly lost this in the move.
I have heard this company no longer exists as it was bought out by another company.
Can you point me in the right direction to find out how to recapture this money? — E.S.
DEAR E.S.: You mentioned that the company has been absorbed by another company. The first step is to find the new company that absorbed the old one.
If the old shares were replaced by the new company and it was a recent event, you should have no problem having them replaced.
The money may have been given to the state if the new company could not find you.
In this case, the shares would be called escheated funds, and if money is due to you, it will be returned without interest.