Saudi Arabia – “Retirees” submit requests to Ministry of Finance
Monday, 10 12 2015, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Saudi National Retirees Association addressed the Ministry of Finance which supervises the health insurance sector in order to find solutions to the problems facing retirees. The large majority of health insurers decline coverage for individuals above age 65 and local banks also refuse to grant them loans.
The head of the Retirees Association in the Sharqiyah region Mr. Saeed Al Ghamidi said that the association is in the process of submitting requests to the Ministry of Finance in order to find solutions to a number of problems and difficulties that a large number of retirees face when they look for health insurance and personal loans. There are actually repeated complaints from retirees who say their health insurance applications are rejected. Moreover, banks refuse to offer them loans. The main reason for the refusal of insurers and banks to meet these requests is that they exceeded age 65 which represents big economic risks as suggested by these insurers and banks.
Source: Okaz Newspaper