Catastrophic health insurance in Thailand?

[TyGrr]

I'm interested in getting catastrophic health insurance for use in Thailand for my family. I'm looking for coverage start at over 10 million baht or something like this. We can cover most things but if we get a crazy cancer or we all get messed up in a car accedent I'd like to have some help.

 

Is there such a thing in Thailand? I have looked for years with little success.

 

Thank you.

 

 

[simon43]

That would simply be a comprehensive medical insurance policy.  I insure with Davidshield, with 38 million baht annual cover for serious accidents, cancer etc (all the usual illnesses and accidents).

[TyGrr]

Your insurance pays up to 38 million? That is pretty reasonable. I send them an e-mail, thanks.

 

Before all the thai companies had limits of 5 million.

[simon43]

Before all the thai companies had limits of 5 million.

 

This is an 'expat' company, regulated by UK insurance rules.  Don't use Thai insurers - they can deny renewal of your cover if you make a claim - many posts about this problem.

[stevenl]

17 hours ago, simon43 said:

 

 

 

This is an 'expat' company, regulated by UK insurance rules.  Don't use Thai insurers - they can deny renewal of your cover if you make a claim - many posts about this problem.

Are you sure about that 'regulated by UK insurance rules'? David Shield is an Israeli company, headquarted in Cyprus. Why would their Thai insurance be regulated by UK rules?

 

They are a broker BTW, insurance company is Allianz.

[TyGrr]

I contacted David Shield and they will not work with me as I do not live in Isreal.

 

So I'm back where I started with no idea on how to get fair insurance.

[topt]

25 minutes ago, TyGrr said:

I contacted David Shield and they will not work with me as I do not live in Isreal.

 

So I'm back where I started with no idea on how to get fair insurance.

I am guessing you contacted the wrong bit as they definitely cover expats - as well as simon43 I also recently took out a policy with them and I am definitely not Israeli.

 

Have you attempted to read any of the posts in this thread - 

That will give you lots of ideas. You could also have a look at the attached which I stress is now 6 months old but has a list of compoanies you can consider. However note there are quite big differences in premiums between local and full international policies from supposedly the same companies for reason @simon43 alluded to above.

 

The other suggestion would be to go and talk to a broker and explain exactly what you are looking for. (The comparison sheet came from AA Insurance Brokers)

 

08-13-2018 comparison PDF.pdf

[TyGrr]

I will check out that thread. Thank you.

[simon43]

Are you sure about that 'regulated by UK insurance rules'? David Shield is an Israeli company, headquarted in Cyprus. Why would their Thai insurance be regulated by UK rules?

 

Firstly, it is not 'Thai' insurance - it is expat insurance, tailored for 'zone 5' (which covers the regions where I live and travel).

 

They are an Israeli company, but according to the policy documents that they sent to me, the policy is governed by UK law.  Specifically, the policy states that after being accepted for cover and having made the first monthly premium payment, the policy cannot be cancelled by Davidshield at any time or age in the future, or policy renewal refused (regardless of whether or not I have made a claim), unless I default on making the premium payments. 

 

Also specifically, my premiums cannot be increased individually in the future as the result of any claim that I might have made or illness that developed since the policy was started. The only price increase (which will definitely occur!), will be the annual price increase or age-band increase that is applied to ALL insurees of the same age.

 

Basically, so long as I continue to pay the premiums, I am covered for life and can claim for any in-patient treatment (no out-patient cover), with zero excess and zero co-pay.

 

I understand of course, that the premiums will increase as I get older.  I'm not in a financial position to self-insure, where one would need say 5 million baht in the bank and the means to replace that sum if it were used to cover a serious accident or illness.

 

But I can easily afford the monthly premiums - at 2 months before my 60th birthday, I'm fortunate to have zero pre-existing conditions ????

[Sheryl]

This idea that there is such as thing as "Thai insurance" seems to be a common misunderstanding among expats here, usually ones from countries with national health services and thus unfamiliar with health insurance.

 

Along with that is the also incorrect idea that. because "Thai insurance" is needed, one has to get it from a Thai company. And that in turn is where a lot of the "insurance is not available for older people" or "policies end when you turn age X" etc comes from, because that is true of many Thai companies. It is not at all true of most international expat policies.

 

David Shield most definitely offers international expat policies. http://www.davidshield-intl.com/pages/37.aspx

 

[stevenl]

13 hours ago, simon43 said:

 

 

 

Firstly, it is not 'Thai' insurance - it is expat insurance, tailored for 'zone 5' (which covers the regions where I live and travel).

 

They are an Israeli company, but according to the policy documents that they sent to me, the policy is governed by UK law.  Specifically, the policy states that after being accepted for cover and having made the first monthly premium payment, the policy cannot be cancelled by Davidshield at any time or age in the future, or policy renewal refused (regardless of whether or not I have made a claim), unless I default on making the premium payments. 

 

Also specifically, my premiums cannot be increased individually in the future as the result of any claim that I might have made or illness that developed since the policy was started. The only price increase (which will definitely occur!), will be the annual price increase or age-band increase that is applied to ALL insurees of the same age.

 

Basically, so long as I continue to pay the premiums, I am covered for life and can claim for any in-patient treatment (no out-patient cover), with zero excess and zero co-pay.

 

I understand of course, that the premiums will increase as I get older.  I'm not in a financial position to self-insure, where one would need say 5 million baht in the bank and the means to replace that sum if it were used to cover a serious accident or illness.

 

But I can easily afford the monthly premiums - at 2 months before my 60th birthday, I'm fortunate to have zero pre-existing conditions ????

The policy you have is insurance for people living in Thailand, therefor Thai insurance. Now you can start arguing semantics.

 

Yes, Israeli company headquarted in Cyprus.

[simon43]

The policy you have is insurance for people living in Thailand, therefor Thai insurance. Now you can start arguing semantics.

Yes, Israeli company headquarted in Cyprus.

 

I will clarify my policy.  I can live in any country in 'Zone 5', such as Laos, Myanmar, Vietnam etc with full cover.  It is not a Thailand-only policy.

 

I'm aware that Davidshield is an Israeli company. That's not relevant.

 

The important facts (and I quote from my policy) "The policy is issued by Hauteville Insurance Limited, a subsidiary of Allianz and licenced by the Guernsey Financial Services Commission.

 

The laws of the UK shall apply to the policy, and to any dispute that is derived from it..."

[scubascuba3]

  

 

Tapatalk is playing up.

 

Heard of any big claims going through David Shield?

[Sheryl]

The policy you have is insurance for people living in Thailand, therefor Thai insurance. Now you can start arguing semantics.
 
Yes, Israeli company headquarted in Cyprus.

It is a policy for expatriates (people living outside their country of nationality) and in no way specific to or limited to expats in Thailand. And the cover is not limited to care received in Thailand.

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[simon43]

Heard of any big claims going through David Shield?

 

No, why?  I did my research and Davidshield seemed to have a reputation as a fair policy, similar to the other 2 policies on my shortlist (HCI and Cigna).

[scubascuba3]

 

 

Heard of any big claims going through David Shield?

 

 

No, why?  I did my research and Davidshield seemed to have a reputation as a fair policy, similar to the other 2 policies on my shortlist (HCI and Cigna).

 

TAPATALK is mucking up the quotes so ignore the format.

 

 

i had a search last year and couldn't find reviews or anything. I would like to have seen 100s of ratings and good reviews talking about claim experience. I wonder how big and stable the company is and who underwrites all their claims

 

[simon43]

...and who underwrites all their claims

 

Looks to be Allianz, who are well-established and with a good reputation.

[stevenl]

On 3/11/2019 at 11:04 AM, simon43 said:

 

 

 

I will clarify my policy.  I can live in any country in 'Zone 5', such as Laos, Myanmar, Vietnam etc with full cover.  It is not a Thailand-only policy.

 

I'm aware that Davidshield is an Israeli company. That's not relevant.

 

The important facts (and I quote from my policy) "The policy is issued by Hauteville Insurance Limited, a subsidiary of Allianz and licenced by the Guernsey Financial Services Commission.

 

The laws of the UK shall apply to the policy, and to any dispute that is derived from it..."

It being an Israeli company headquartered in Cyprus is relevant.

 

Which reputable insurance company operates that way, and is licensed by the Guernsey Financial Services Commission?

[stevenl]

On 3/11/2019 at 11:59 AM, simon43 said:

Looks to be Allianz, who are well-established and with a good reputation.

Yes, Allianz underwrites. Which means with policies like this that Allianz is the risk bearer, and issues guidelines to DavidShields which risks can be accepted, which not and for which they have to contact Allianz first.

[scubascuba3]

It being an Israeli company headquartered in Cyprus is relevant.
 
Which reputable insurance company operates that way, and is licensed by the Guernsey Financial Services Commission?

Its probably a tax thing. The Guernsey financial service commission usually copies UK regs

[simon43]

and issues guidelines to DavidShields which risks can be accepted, which not and for which they have to contact Allianz first.

 

I have already been accepted by Davidshield (and therefore by Allianz), with no exclusions whatsoever.  I have my policy documents.  The laws of the UK govern my insurance policy, as clearly stated on the policy.  Davidshield (and Allianz) both have a good reputation.

 

You seem to be suggesting that this company/insurance policy is 'dubious'.  Please provide evidence or links to support your statements.  Thank-you.

[stevenl]

23 hours ago, simon43 said:

 

 

 

I have already been accepted by Davidshield (and therefore by Allianz), with no exclusions whatsoever.  I have my policy documents.  The laws of the UK govern my insurance policy, as clearly stated on the policy.  Davidshield (and Allianz) both have a good reputation.

 

You seem to be suggesting that this company/insurance policy is 'dubious'.  Please provide evidence or links to support your statements.  Thank-you.

Any financial institution that has its headquarters on Cyprus and chooses the easy route of Guernsey in stead of UK regulations should be looked at with great care. There is a reason many of the Russian laundering banks are headquartered in Cyprus.

[simon43]

...in stead of UK regulations should be looked at with great care

 

I already told you that my policy wording specifically states that the policy and any 'disputes' etc are covered by the laws of the UK, - not of Guernsey, not of Cyprus, not of Israel, but of the UK.

 

You don't happen to work for Cigna do you? ????

 

 

[stevenl]

On 3/16/2019 at 11:33 AM, simon43 said:

I already told you that my policy wording specifically states that the policy and any 'disputes' etc are covered by the laws of the UK, - not of Guernsey, not of Cyprus, not of Israel, but of the UK.

 

You don't happen to work for Cigna do you? ????

Just many years of experience in the insurance industry. I have learned to distrust Cyprus and Guernsey as legal base for companies.

[hioctane]

I was looking into this as well. None of these comments answers the original question.  I am not looking for comprehensive coverage because the whole point of catastrophic insurance is to cover the expensive stuff ONLY which means cheaper premiums. Is there such a thing in Thailand or anywhere... and what are the costs?

[scubascuba3]

I was looking into this as well. None of these comments answers the original question.  I am not looking for comprehensive coverage because the whole point of catastrophic insurance is to cover the expensive stuff ONLY which means cheaper premiums. Is there such a thing in Thailand or anywhere... and what are the costs?

April International Thailand will cover 16m baht, if big $10k deductible, premium was 18k baht a year

[hioctane]

April International Thailand will cover 16m baht, if big $10k deductible, premium was 18k baht a year

You mean 10k baht deductible correct?


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[scubascuba3]

You mean 10k baht deductible correct?


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No USD10k, the point is it brings the premium to a low amount but will cover for the very expensive catastrophic events. You can reduce the deductible but of course the premium will go up to something like 40k baht a year for a 45-49 age

[hioctane]

No USD10k, the point is it brings the premium to a low amount but will cover for the very expensive catastrophic events. You can reduce the deductible but of course the premium will go up to something like 40k baht a year for a 45-49 age

That is still not bad for what amounts to around $500 a year.


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[GregTN]

Cigna global does a $500,000 annual max, $7500 deductible for $1200/year age 58.