WRLife

[bradiston]

1 hour ago, scubascuba3 said:

Usually just check how the premium increases for each deductible increase, circ 40k baht deductible was the best value, i tried it with April

Did you mean how the premium decreases for each deductible increase? That's easy enough as WRLife provide a table of example figures.

 

My conclusion is, electing to pay a deductible only makes sense if you feel you are not at risk of incurring overwhelmingly hefty hospital fees any time in the near future. It simply lowers the premium, but incurs the risk of having to shell out up to $5000 each time you end up hospitalised.

 

[bradiston]

11 minutes ago, brewsterbudgen said:

If you can afford the Premium without any deductible, I'd do that (in fact I did).  

As it happens, I can too. But I'm paying for "cover" which only extends to IP critical injury/disease, and where I end up paying for every OP (surgical or otherwise) procedure which can be critical in its own way but is automatically excluded. Ok, I only save 40k THB pa in premiums with the maximum deductible, but that almost pays for a single cataract operation (cheapest I've found is 45k THB) which WRLife don't cover in their main package. Even with their extra packages (dental/optical) you only get $1000 worth of optical treatment, 33k THB, plus the added expense of the additional cover. It doesn't even cover one operation, and they could argue it's OP, so no cover at all.

 

I'll probably opt for the maximum deductible, and if the worst does come about, pay whatever I have to, up to $5k. I've looked at one other insurer, and have yet to decide whether to jump ship from WRLife.

[bradiston]

58 minutes ago, Etaoin Shrdlu said:

What probably matters more than trying to find the theoretical actuarial sweet spot in terms of optimizing premiums and deductibles would be to choose a deductible and premium level that fits best within your financial situation.

 

 

 

 

Good comment. I hadn't thought of lowering my level of cover. I'll look into it.

[scubascuba3]

1 hour ago, bradiston said:

Did you mean how the premium decreases for each deductible increase? That's easy enough as WRLife provide a table of example figures.

 

My conclusion is, electing to pay a deductible only makes sense if you feel you are not at risk of incurring overwhelmingly hefty hospital fees any time in the near future. It simply lowers the premium, but incurs the risk of having to shell out up to $5000 each time you end up hospitalised.

 

so what's the best value deductible? should be easy to work out and won't be $5000.

 

Maybe better to gamble with a higher deductible when younger and lower deductible when older when claims are more likely

[Etaoin Shrdlu]

2 hours ago, bradiston said:

Good comment. I hadn't thought of lowering my level of cover. I'll look into it.

Lowering the amount of insurance should probably come second to finding a deductible and premium trade-off that works for you. Find a deductible that you can handle, and if you can, use some of the premium savings to get higher limits.

 

Better to have high limits for catastrophic accidents or illnesses because that's what one really needs cover for. 

[bradiston]

2 hours ago, Etaoin Shrdlu said:

Lowering the amount of insurance should probably come second to finding a deductible and premium trade-off that works for you. Find a deductible that you can handle, and if you can, use some of the premium savings to get higher limits.

 

Better to have high limits for catastrophic accidents or illnesses because that's what one really needs cover for. 

Ok, first the good news. WRLife has appiinted AA world as their agents. They have a well attended phone number and people who can respond to questions like "Can I lower my cover/increase my deductible" efficiently and quickly. Their number is +66 2 821 6776. They have a website which is still being built at aa-world.com.

 

So they sent me figures for various deductible amounts and also a sample of lowering my cover, from $400k to $200k. The latter makes remarkably little difference in terms of premiums. I would save in the region of $170 pa. Peanuts. So it doesn't look worth doing.

[Hummin]

5 minutes ago, bradiston said:

Ok, first the good news. WRLife has appiinted AA world as their agents. They have a well attended phone number and people who can respond to questions like "Can I lower my cover/increase my deductible" efficiently and quickly. Their number is +66 2 821 6776. They have a website which is still being built at aa-world.com.

 

So they sent me figures for various deductible amounts and also a sample of lowering my cover, from $400k to $200k. The latter makes remarkably little difference in terms of premiums. I would save in the region of $170 pa. Peanuts. So it doesn't look worth doing.

Can someone explain what being part of AA world meaning? Is it a proof of being an acceoptable and reliable insurerer? 

 

I want to know who is the backig group of WRLife and their solidity. 

[scubascuba3]

41 minutes ago, Hummin said:

Can someone explain what being part of AA world meaning? Is it a proof of being an acceoptable and reliable insurerer? 

 

 

No proof at all. wrlife is just popular with expats because it's cheaper than the others, so AA wants a piece of business

[Etaoin Shrdlu]

47 minutes ago, Hummin said:

Can someone explain what being part of AA world meaning? Is it a proof of being an acceoptable and reliable insurerer? 

 

I want to know who is the backig group of WRLife and their solidity. 

I suspect that AA World is an insurance broker.  WR Life is also an insurance broker according to their website.

 

There are other threads discussing WR LIfe and the possible location and financial status of the insurance company actually providing the coverage under the policies they issue. So far, this remains an unanswered question as far a I can tell. Perhaps someone could ask AA World to provide information as to the identity and financial status of whichever insurance company WR Life the insurance broker places their clients' business with.

[jerrymahoney]

33 minutes ago, scubascuba3 said:

No proof at all. wrlife is just popular with expats because it's cheaper than the others, so AA wants a piece of business

So now the expats are just going for cheap-as-chips policy  -- last time for you it was:

 

"TBH those signed up already haven't done due diligence, it appears they were intoxicated by the lower premiums"

 

https://aseannow.com/topic/1268153-wrlife-medical-insurance-experiences/?do=findComment&comment=17530780

 

[scubascuba3]

17 minutes ago, jerrymahoney said:

So now the expats are just going for cheap-as-chips policy  -- last time for you it was:

 

"TBH those signed up already haven't done due diligence, it appears they were intoxicated by the lower premiums"

 

https://aseannow.com/topic/1268153-wrlife-medical-insurance-experiences/?do=findComment&comment=17530780

 

Yep, all correct, nothing has changed, of course it's the cheaper premiums causing the interest

[jerrymahoney]

8 minutes ago, scubascuba3 said:

Yep, all correct, nothing has changed, of course it's the cheaper premiums causing the interest

Right and you are already on record regarding any money that might be spent on WrLife

 

"I reckon your gut feeling is right on that, i feel the same, money better spent elsewhere."

 

https://aseannow.com/topic/1281012-wrlifeany-more-info-or-updates-regarding-trust-and-claims/?do=findComment&comment=17795234

 

[brewsterbudgen]

39 minutes ago, scubascuba3 said:

Yep, all correct, nothing has changed, of course it's the cheaper premiums causing the interest

Cheaper premiums and age-friendly policies regarding increases, together with good communication.  I'm still waiting for the horror stories about claims refusals, but so far, so good!

[jerrymahoney]

6 minutes ago, brewsterbudgen said:

Cheaper premiums and age-friendly policies regarding increases, together with good communication.  I'm still waiting for the horror stories about claims refusals, but so far, so good!

And as I have commented before, the main impetus for my looking for alternatives to my 5 years with Gigna Global was that I was moving to a new province with no CG direct payment hospitals. And the procedures with both emergency and elective IP procedures with no direct payment was just not acceptable for me.

[bradiston]

18 hours ago, bradiston said:

Ok, first the good news. WRLife has appiinted AA world as their agents. They have a well attended phone number and people who can respond to questions like "Can I lower my cover/increase my deductible" efficiently and quickly. Their number is +66 2 821 6776. They have a website which is still being built at aa-world.com.

 

So they sent me figures for various deductible amounts and also a sample of lowering my cover, from $400k to $200k. The latter makes remarkably little difference in terms of premiums. I would save in the region of $170 pa. Peanuts. So it doesn't look worth doing.

Just a note on the small savings to be made by reducing cover in my case. My 400k cover was taken out last year. So comparing it to this year's 200k cover will reflect this year's 200k premiums v last year's 400k premiums. As an aside, premiums for new applications do rise every year, I guess by 3%.

[brewsterbudgen]

17 minutes ago, bradiston said:

Just a note on the small savings to be made by reducing cover in my case. My 400k cover was taken out last year. So comparing it to this year's 200k cover will reflect this year's 200k premiums v last year's 400k premiums. As an aside, premiums for new applications do rise every year, I guess by 3%.

Is that 400,000 Thai baht cover, or $400,000 ?

[bradiston]

55 minutes ago, brewsterbudgen said:

Is that 400,000 Thai baht cover, or $400,000 ?

$

[bradiston]

On 5/18/2023 at 10:42 AM, bradiston said:

$

Following on from my attempted cover reduction and deductible increase. Neither is possible without reapplying. So that's that! Imagine, higher premiums and start the existing conditions exclusions all over again. I'm going to lie down.