Regency medical Insurance for expats

[Happy happy]

A broker recently contacted me saying they offer a good deal for yearly medical insurance, I did some checking on internet= many complaints...

 

.... Anyone here know or have experience of this company?

[PJ71]

Been with the for about 4 years now, had an op last year that cost about 180K, no issues with them covering it.

 

I find them good to deal with.

 

I pay about 200K p.a. for myself and the wife.

[Etaoin Shrdlu]

Regency is itself another broker or intermediary and the actual coverage is provided by the insurance companies they have distribution or agency agreements with.

 

Claims-paying attitude and ability is largely a function of the insurer and not the broker/intermediary, so it can be difficult to comment unless one knows the identity of the underlying insurer. Regency's brochure for health insurance does not disclose the identity of the insurer or insurers they use.

 

Personally, I'm a bit leery of insurers that are incorporated in Caribbean tax havens or other places with lax regulatory oversight as well as insurers that don't have AM Best or Standard and Poor's financial strength ratings.

 

 

[brewsterbudgen]

I switched from Regency for Expats a few years ago, as they wouldn't pay for a private room for my child.  All rooms have to be "semi-private".  

[TantrikLvr]

Be very wary and avoid this slickly advertised 'too good to be true' company! Am an Expat living a long time in Thailand, where there are not strict rules or oversite on company's like these. Obviously there are to a discerning eye and mind, mostly fake, empty illiterate 5 star ratings online, to boost their averages. Reading carefully, almost all of those so called positive reviews, have no details and only say they are so kind and do whatever they are supposed to. This is called 'Astroturfing'! Look it up. Means planting fake positive reviews online, on review websites! After a few years with them, I can attest to the fact that they denied claims that the other legit companies all do cover, in my final case with them, an inguinal hernia, with no history or record of 'pre-existing'. They also denied payment for a kidney stone, also a first time with no history or reason, besides saying some med I might have taken 15 years ago, might have caused it.. Again several hospital's insurance departments told me that other companies generally always pay for this procedure! To mention also, the 'small print' that they will not cover any hospital inpatient stay and will reduce the total of all surgical and medical expenses by 20% if staying in a Private room, which many hospitals here only offer! After consulting Insurance departments of several major hospitals here, was told by several of them, that these people have a history of not paying, which is why they do not get pre approved, as other reputable company's do. They do not get back to you, as they advertise, in a 'timely manor' as they claim, unless it is to get more money from you! Had to wait 3 days in expensive hospital waiting to hear back from their so called in house 'expert', for their refusal to pay for kidney stone treatment. Was told they have an office here, but false. Was told they are backed by a known Brit and Hong Kong Re-assurance company, but also false! As mentioned many times here, they are only registered on Nevis, a small tax haven Caribbean Island. Very suspicious obviously. So that is where one must go to or complain to (try and find that phone number!)!? I also was shunted off to the infamous "Maria" in HK, who was very good at delaying and giving false hope of resolution, but just great at putting us off.. The original price was suspiciously inexpensive, but the annual fees jumped surprisingly fast once signed up, once i passed the 70 year old barrier to get any other company to provide cover! Shopping around for a real reputable company, have spoken with several agents who have inevitably heard about them and it is becoming more known in that industry, at least here, that these guys are complete phoney rip offs! Hopefully a Class Action Suit, will happen! There will always be ignorant fools and suckers who will empty their pockets and fall for these guys, enough to keep them in business. Further more, there is no objective comparative website (that doesn't sell and get commissions for selling for them) that ranks or reviews insurance company's with this group included, favorably. Please do careful diligent research before committing money in a once in a lifetime decision!

[Happy happy]

Hello TantrikLvr,

 

I would like to thank you very much for taking the time to tell me your view and experiences. Particularly the expression 'too good to be true' company  and "suspiciously inexpensive" are apt and explaining your own personal dealing are very revealing.

Its assisted me greatly about whether I want to pursue anything with this company.

 

take care.\Thx again,

 

🙂

[lordlert]

Get away from them. changed the benefits policy after you paid for all THAILAND's customers. no guarantee no lead-time of advance payment that you will be paid in advance for all cases.

!!! i am warning you. 

[global expat]

@Etaoin Shrdlu hi mate, what rating should the insurer have? At least A-?  

 

why only look at the financial rating of insurer and not insurance company? 

 

I have a new one with high deductible but I am thinking if I should buy another one just in case if one of them goes under. 

 

Thanks mate 

[Etaoin Shrdlu]

2 hours ago, global expat said:

@Etaoin Shrdlu hi mate, what rating should the insurer have? At least A-?  

 

why only look at the financial rating of insurer and not insurance company? 

 

I have a new one with high deductible but I am thinking if I should buy another one just in case if one of them goes under. 

 

Thanks mate 

 

The insurance company is the insurer. The terms are used interchangeably in the industry.

 

Perhaps you're thinking of the insurance broker. Insurance brokers won't be rated by AM Best or S&P as the broker is not responsible financially for claims payment. More relevant to a consumer would be the broker's reputation for market and technical knowledge as well as service capabilities. 

 

Personally, I would choose an insurance company with an AM Best rating of B+ or higher if possible.

 

 

[global expat]

@Etaoin Shrdlu  thanks man. I am referring to the insurance company.

 

How do you test if your broker is actually good? What questions to ask them? How do you ensure service is good? 

 

I had a broker misspelt my name.  That to mean is a red flag and he is from a reputable company too. 

 

Two brokers never showed up to our appointments and they are from reputable companies. They messaged me back to reschedule which I ignored. It shows bad service. 

 

Thanks mate 

 

 

 

 

[Etaoin Shrdlu]

15 minutes ago, global expat said:

@Etaoin Shrdlu  thanks man. I am referring to the insurance company.

 

How do you test if your broker is actually good? What questions to ask them? How do you ensure service is good? 

 

I had a broker misspelt my name.  That to mean is a red flag and he is from a reputable company too. 

 

Two brokers never showed up to our appointments and they are from reputable companies. They messaged me back to reschedule which I ignored. It shows bad service. 

 

Thanks mate 

 

 

 

 

 

One question to ask is whether the individual you are dealing with holds an insurance broker's license from the OIC, or, if the individual is a foreigner, if they were licensed in their home country before they came to Thailand and if they hold any professional designations or certificates. This helps to establish at least some technical knowledge and experience in the industry.

 

Also ask the broker which insurers their company has formal distribution agreements with. If they have agreements with larger insurers and the local operations of multinational companies, then you stand a better chance of having your risk placed with a financially sound insurer.

 

Then you can ask your friends and acquaintances or you can ask on a forum like this for others' experiences.