5 things pensioners applying for a loan should remember

Written by Nicholas Cameron

Are you a pensioner applying for a loan? Here are 5 things you should remember

As a pensioner, applying for loans and finance can be problematic. Some ofrepparttar best deals inrepparttar 151101 market may be unavailable to you because you do not meetrepparttar 151102 ideal criteria that lenders look for. For example, because of your situation you may no longer be able to generate income. To make up for this, you need to make sure that other aspects of your loan application are presented strongly to allow you to obtainrepparttar 151103 loan most suited to you.

Your age may make you a credit risk

In general,repparttar 151104 main thing that lenders consider when reviewing a credit application is risk. Your credit history, income and age may all point to you being a high credit risk and lenders may consequently decline your application. Because of these factors, senior citizens and pensioners may experience greater difficulty in obtaining a loan. However, if you can show that you are able to service your loan forrepparttar 151105 duration ofrepparttar 151106 term, or even prepayrepparttar 151107 interest, you still have a good chance of succeeding in your application.

You need to demonstrate loan serviceability in your application

Regardless of your age and employment status,repparttar 151108 main thing you need to show is that you can actually pay backrepparttar 151109 loan you wish to take out. Ifrepparttar 151110 lender decides that you will have no difficulty makingrepparttar 151111 scheduled repayments forrepparttar 151112 term ofrepparttar 151113 loan, you will probably be successful in your application. Any information you can provide regarding your assets and income will obviously be relevant.

Canada’s Aging Baby Boomers: Planning Health Insurance for the Future

Written by Anna Dorbyk

The first of Canada’s aging baby boomers are poised to turn 65, and with this milestone birthday comes a variety of new health care concerns. In response to these changing medical needs,repparttar Canadian health care system is preparing to handle some 10 million boomers whose reasons for visitingrepparttar 151078 hospital will range from hearing loss to long-term care. The aging of this Canadian demographic is inevitable, but falling into financial debt in order to pay for these services can be avoided. By thinking ahead to what medical services may be required, individuals are able to customize their health insurance accordingly.

Living in a country like Canada where health care is provided for all is an undeniable luxury. Yet, despiterepparttar 151079 many benefits of Canadian health care, there are gaps that exist in coverage. These gaps dictaterepparttar 151080 need for supplementary health insurance. Sadly, there are many instances where people have met with unexpected illness, but there are also many health issues that can be planned for. Aging is one such issue.

Some ofrepparttar 151081 most common services required by seniors include: x-rays for weakening bones, a visit torepparttar 151082 podiatrist for any number of foot related issues and testing and fitting hearing aids for hearing loss. Each of these services may be an inevitability forrepparttar 151083 aging individual, but they may not all be covered byrepparttar 151084 Canadian government. Provincial health plans vary from province to province with certain provinces offering a proscribed amount of money yearly for various necessities, such as a trip torepparttar 151085 podiatrist. A visit to a specialized doctor orrepparttar 151086 purchase of a hearing aid can be very costly, and with little to no coverage, people are often left with a substantial financial burden. Supplemental health insurance isrepparttar 151087 best way for seniors to plan for and minimize these costs.

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