New Farang Insurance

[sanuk711]

A group of Swedish Guys from the Issan area (U.T.) have been Liaising with their government for some time on the possibility of insuring  Swedish nationals when aboard--as they do all pay tax on Pensions etc. They haven't had a lot of luck --and so have moved on to looking at insurance for all foreign nationals living in Thailand.

They sent out correspondence to-day to say they feel they are close to achieving  this with the help of BKK Insurance Brokers. Depending of course on the number they can get to respond.

At  premium of aprox max 2,000 baht a month for a 500,000baht policy-with an additional extra 500,000 baht  if required. No age limit. Treatment is at Thai Government hospitals.

some info below if you require more feel free to e-mail the main guy  with questions.

 

Letter sent to me

Proposal of new Affordable Thai Health Insurance
SAMS (Thailand Federation of Swedish associations) is working with Bangkok Insurance Brokers
Co. Ltd (BIB) to initiate The Largest Health Insurance Group For Foreigners In Thailand. An
affordable insurance for all foreigners regardless of age cover with full cover for accidents and
sickness. Very few sicknesses excluded, cover for most pre-existing medical conditions of the
policy holder. The premium is estimated to start just over 2.000 baht/month.
The highlights of the proposal is available in Proposal of new Thai health insurance .
If you are interested in this health insurance and with a high probability will sign up for it if
available submit your name at:
www.insurance-in-thailand.com/affordable-health-insurance-for-anyone-in-thailand/
Any questions can be mailed to [email protected] .
Please share this with all your friends, Facebook/Forum friends and groups.

 

 

Health Insurance Proposal
Plan Summary:
 2 levels of cover; 500,000 Baht basic cover and 500,000 Baht OPTIONAL additional cover.
 This insurance only pays for treatment at Thai government hospitals, private hospital treatment
is not covered.
 All foreigners and Thai nationals of all ages can join (men, women and children).
 Renewal is guaranteed for life, no cut-off age for renewals.
 Only inpatient cover for sickness and accidental injuries.
 No outpatient cover.
 No cover outside Thailand.
Basic level of cover:
1. 500,000 Baht annual limit.
2. Inpatient cover only.
3. Cover for all pre-existing medical conditions.
4. Standard waiting periods apply (30 days for all medical claims and 180 days for short-list of
medical conditions*).
5. Fixed premium for all ages.
6. All ages can apply for basic cover.
7. No individual premium loading is applied after high claims.
8. Optional cover for motorcycle injuries and certain dangerous sports at extra cost.
9. Standard medical exclusions apply.**
OPTIONAL 500,000 Baht additional cover:
1. 500,000 Baht annual limit.
2. Inpatient cover only.
3. 80% of actual medical costs covered.
4. Fixed premium for all ages.
5. All ages can apply for optional cover.
6. No individual premium loading is applied after high claims.
7. Full medical declaration required.
8. Medical underwriting will exclude certain pre-existing medical conditions.
9. Standard waiting periods apply (30 days for all medical claims and 180 days for short-list of
medical conditions*).
10.Optional cover for motorcycle injuries and certain dangerous sports at extra cost (extra
premium revised annually to cover these claim costs).
11.Standard medical exclusions apply.**

 

Background
With over 20 years of experience in the business of insurance,....the management of Bangkok
Insurance Brokers Company has noted a distressing trend. Health insurance is gradually becoming
more and more expensive. International insurance companies are gradually pricing themselves out of
the market. More and more customers are downgrading their policies to stay within their
budgets......some are even canceling their insurance because it is too expensive. Health insurance is a
product that helps to prevent financial disasters in the event of a sickness or accident. But if the
insurance premiums become unaffordable, the insurance then becomes part of the problem and not part
of the solution to financial problems.
It is no secret that private hospitals all around the world do their best to maximize their incomes.
Private hospitals are particularly good at this when it comes to negotiating with offshore insurance
companies. Offshore insurance companies pay medical bills at local hospitals with the help of 3rdparty-
administrators to process the claims. These 3rd-party-administrators have no incentive to save
the insurance companies any money on claims costs. In addition to this, the management of insurance
companies are obligated to manage the company to make a profit for the shareholders. Each year, the
cost of medical claims rise ever higher, reducing the net profit margin of the insurance company. To
counter this drop in net profit, the management increases insurance premiums each year. Customers
complain each year about the annual premium increases, but are powerless to do anything about
it..........except vote with their feet. Customers either accept the premium increases or refuse to renew
their policies. As premiums rise ever higher, a greater percentage of customers will take action. The
never-ending cycle of annual premium increases cannot be broken. The only way to solve the problem
is to attack it at the root-cause............control the cost of medical claims.
Bangkok Insurance Brokers Company will launch a group health policy loosely based on the highly
successful Swiss health care system. This group health policy will ultimately become the largest group
insured in Thailand. Anyone is welcome to join this group, the more the better. Several insurance
companies will be underwriting the policy with identical benefits and premiums. Membership to this
insurance group will be available through;
 A select group of insurance brokers.
 30 chambers of commerce in Thailand.
 Multiple registered associations and clubs in Thailand.
 And in the near future, the Thai Bureau of Immigration and multiple government offices.
The primary objectives of this group policy is to:
1. Offer highly competitive premiums to attract as many people to join the group as possible.
2. Use the collective power of a giant group to offer health insurance at a very low premium rate
(20,000 - 25,000 Baht/year).
3. Offer 2 choices of cover to help families stay within their budgets.
4. Keep the insurance affordable by only covering medical treatment at over 1,000 Thai
Government Hospitals.
If you are interested in joining this group, kindly submit your confirmation at our website.
http://www.insurance-in-thailand.com/affordable-health-insurance-for-anyone-in-thailand/

 

 

[Thanyaburi Mac]

This topic is already running in the INSURANCE sub-forum here:

 

Mac