LGM health insurance

[Kenny202]

Read on another forum today about LGM and a special policy they have for compulsory medical insurance for OA retirement visa people. The price has certainly come down in my case (57yo) about 6000 baht yearly with a 200k deductible. It certainly has came down I think when I first enquired over a year ago minimum insurance you could get then around 50k a year. I am on a Parent visa so it isn't required for me.

 

But I thought maybe for me would be better than nothing for me? Although it is only 400k cover which is probably not enough (but would help) in the case of heart treatment or a serious operation. A proper policy here or from back home just impossible for me at 50k plus per year and increasing every year as I age. I see providing you join before you are 75 they will insure up until 100yo but.......

 

I read their T&C's and looks like, as I have seen with most Thai policies they can boot you at anytime, particularly if you have a long and prolonged illness.

 

Renewal year premium will be adjusted according to increasing age of each insured person. Each insured person may be charged higher, up to 100 percent of standard premium, according to claims experiences (Loss Ratio) of the previous policy year or not to renew each insured person in the renewal year with 30 days prior notices.

 

I have seen similar clauses on other policies in Thailand. I queried one agent about it and he simply said, "oh yes but they would never do that". He went on to say even if they did decide to boot you they would give you your current years premium back lol. So they have the choice of covering you for that long and expensive cancer treatment or giving you your years premium back hahaha.

 

Anyone here can recommend a decent good value medical insurance policy with a trusted company that has a good track record?

 

[alyx]

hey 

Is it LGM or LMG as I have searched it and found LMG. 

Otherwise what does LGM stands for ?

Thanks

[Kenny202]

9 minutes ago, alyx said:

hey 

Is it LGM or LMG as I have searched it and found LMG. 

Otherwise what does LGM stands for ?

Thanks

LMG sorry

[alyx]

Thank you 

[Sheryl]

Thai insurers most definitely DO raise premiums on an individual basis (on top of the age related increase) if you have a large claim.

 

This is because Thai insurance regs allow it whereas the regs in Western countries do not.

 

And it is why I always advise people to get an international expat policy instead. However these aren't accepted for O-A extensions.

 

Among the Thai-based insurers, as far as I know the only one that does not raise premiums on an individual basis is April Thailand, which is "community rated". They still have the language in their policies that allow increases based on claims because the Thai insurance commission requires it, but they have historically never done this.

 

While April is not on the approved list they are underwritten by LMG and to my understanding you can get a certificate from LMG accordingly which will meet the O-A requirement.  It costs more than the LMG O-A policy you refer to but gives substantially higher coverage.  https://lp.april-international.com/th/international-health-insurance/?bodytxt=solution-designed-for-expats-and-Thai-citizens&conjoin=an&header=for-Individuals-and-Families&keyword=International-Health-Insurance&source=Website

 

I recommend to buy through a broker specializing in expat policies and familiar with the OA requirement.

 

In your particular case, not on an O-A visa, you can get an international policy and should. You are young enough to have a wide range of choice.  I would consult a broker like AA and look specifically into David Shield and April international .   Could also look into Ciogna Close Care.

 

www.aainsure.net

 

A 400K policy with a 200K deductible means you only have 200K insurance. Not worth having unless just for visa purposes, there is a reason people refer to this as a "throw away" policy.  A single hospitalization in Thailand can exceed 3 million baht in a private hospital and 1 million in a government hospital. If you want the option of a private hospital then you need cover of at least 4million per event of 10 mullion a year.  Can reduce premiums by taking a deductible in whatever amount you can easily afford to pay.

 

 

 

 

[Kenny202]

1 minute ago, Sheryl said:

Thai insurers most definitely DO raise premiums on an individual basis (on top of the age related increase) if you have a large claim.

 

This is because Thai insurance regs allow it whereas the regs in Western countries do not.

 

And it is why I always advise people to get an international expat policy instead. However these aren't accepted for O-A extensions.

 

Among the Thai-based insurers, as far as I know the only one that does not raise premiums on an individual basis is April Thailand, which is "community rated". They still have the language in their policies that allow increases based on claims because the Thai insurance commission requires it, but they have historically never done this.

 

While APril is not on the approved list they are underwritten by LMG and to my understanding you can get a certificate from LMG accordingly wi]hioch will meet the O-A requirement.  It costs more than the LMG O-A policy you refer to but gives substantially higher coverage.  https://lp.april-international.com/th/international-health-insurance/?bodytxt=solution-designed-for-expats-and-Thai-citizens&conjoin=an&header=for-Individuals-and-Families&keyword=International-Health-Insurance&source=Website

 

You can get an individualized quote from the link above. But I recommend to buy through a broker specializing in expat policies and familiar with the OA requirement.

 

A 400K policy with a 200K deductible means you only have 200K insurance. Not worth having unless just for visa purposes, there is a reason people refer to this as a "throw away" policy.

 

but

I don't actually need compulsory OA insurance Sheryl, not at this stage anyway. I'm on a parent visa but wouldn't surprise me if we all needed insurance sooner or later. I am however interested in getting low cost medical cover of some description and stumbled onto this but someone recommending it as a cheap OA insurance. 

 

I didn't understand 400k / 200k deductable meant you pay the first 200k and they would pay up to 200k more? I thought you pay 200k and they pay up to 400k more. In that case essentially good for nothing apart from satisfying the OA requirement. Typical Thai double talk / smoke screen. 

[Sheryl]

5 minutes ago, Kenny202 said:

 

 

I didn't understand 400k / 200k deductable meant you pay the first 200k and they would pay up to 200k more? I thought you pay 200k and they pay up to 400k more. In that case essentially good for nothing apart from satisfying the OA requirement. Typical Thai double talk / smoke screen. 

 

It means you pay the first 200 and they pay another 200k (assuming total bill was over 200k). Indeed virtually worthless. People do it solely to meet O-A requirement. Especially people who already have good international policy that they want to keep.

 

I know you don't need O-A which is why I advised you to look at international policies.

[Kenny202]

Any recommendations Sheryl? I think last time I checked Bupa seemed the best value and providing you sign up before I think it was 60yo they would guarantee to insure you for life

[Sheryl]

17 minutes ago, Kenny202 said:

Any recommendations Sheryl? I think last time I checked Bupa seemed the best value and providing you sign up before I think it was 60yo they would guarantee to insure you for life

 

Again, I strongly urge you to go through a broker. It does not cost more and they will not only provide you info to base your decision on but also help afterwards with any claims issues. I use AA  www.aainsure.net and very happy with them

 

As mentioned, I would look at: April International. David Shield, Cigna Close Care and there may be others given your comparatively young age.  Tell them you want :

• hospitalization only but including outpatient care for cancer and dialysis
• guaranteed lifetime renewal
• no increase based on claims history
• direct billing arrangements with Thai hospitals

and option of X amountdeductible (according to what you can afford)