For the over 70's Health Insurance Provider ? Possible?

[ronaldjp]

Lately have been hearing about a company called WrLIFE  offering health insirance to the over 70s  whose payments are guaranteed by a local company  Assist International Services associated with the Thonburi Hospital Group.  Would be interested if anyone has experience  with this company!

[Sheryl]

New , seems to be small and I am not sure how stable it is financially.

 

Some limited reports here

https://www.expat.com/forum/viewtopic.php?id=782986

 

I advise anyone selecting health insurance to work through a good broker.

 

Cigna Global is a solid option for people over 70, they will insure at any age.

[Pilotman]

5 minutes ago, Sheryl said:

New , seems to be small and I am not sure how stable it is financially.

 

Some limited reports here

https://www.expat.com/forum/viewtopic.php?id=782986

 

I advise anyone selecting health insurance to work through a good broker.

 

Cigna Global is a solid option for people over 70, they will insure at any age.

at a price that is unreachable for many. 

[Sheryl]

16 minutes ago, Pilotman said:

at a price that is unreachable for many. 

 

For a 74 year old:

 

About 20,000 baht/month if no deductible. Less with deductible or copay.

 

Not cheap but if one meets the retirement financial criteria of at least 65K/month income, certainly possible.

 

And if you cannot afford this how will you afford to pay for a major hospitalization, which can easily run to over a million baht?

 

The simple truth is that there are people living here who cannot afford to. They may be able to afford daily food and rent, but they cannot manage major health care costs which is same thing as not being able to afford to be here.

 

 

[Pilotman]

9 minutes ago, Sheryl said:

 

For a 74 year old:

 

About 20,000 baht/month if no deductible. Less with deductible or copay.

 

Not cheap but if one meets the retirement financial criteria of at least 65K/month income, certainly possible.

 

And if you cannot afford this how will you afford to pay for a major hospitalization, which can easily run to over a million baht?

 

The simple truth is that there are people living here who cannot afford to. They may be able to afford daily food and rent, but they cannot manage major health care costs which is same thing as not being able to afford to be here.

 

 

There is a whole lot of difference between having the necessary funds available to deal with health emergency events against knowing that you are paying upwards of 220,000 in lost money, but maybe a lot more than that, a year for something you may well never need. Insurance of whatever type is often a probability scam for the companies to reap the rewards while never having to pay the price.  Health insurance is no different.  No wonder insurance actuaries and loss adjusters are highly paid. 

Edited December 7, 2019 by Pilotman

[Sheryl]

It is highly unlikely that a person aged over 70 will never need to use their health insurance. Almost certainly they will, and more than once.Which is why premiums are so much higher at older ages.

 

Now if they are lucky they will indeed pay more in premiums than the policy pays out for them. This is the case with most people and the basis on which insurance works. It is not a "scam". It is risk pooling.  If they are unlucky, their policy will pay out far more than they paid in premiums.

 

And one cannot know which group one will fall into.

 

In my experience most people who claim to have enough money to deal with health emergencies, do not. And those who do, often prefer to insure to protect their assets rather than risk having them wiped out in one fell swoop.

[Neeranam]

Get insurance, despite the cost.

I thought I wouldnt need class 1 for my new car but after 2 minor incidents, the cist was 100k, 5 years of my 20k a year.

Same with health. If you are over 70, definitely get insurance. You have an average of 10 years left, whats 200k baht.