Annual Health Insurance policy from Allianz Ayudhya doubled this year!

[ScotlandtheBrave]

I have just received my annual renewal paperwork and found that this year it has risen to 88,000 Baht!!!!! I am 66 and have had a policy with this company for thirteen years and made very few claims. What is going on? This is a huge increase. Can anyone explain why this is happening? 

[bkk6060]

Too many unhealthy people making too many claims.  Add,  the cost of care here opposed to what some think, has increased greatly and is no bargain.

[blaze master]

Maybe your age had tipped a certain criteria ? As each year passes you are a higher risk right. 

[Denim]

39 minutes ago, ScotlandtheBrave said:

Can anyone explain why this is happening? 

 

As you get older you become a higher risk . If you have a serious health issue down the road they know it could cost them a lot. As you get older they see the chance of making a profit from you diminish and the chance of making a loss from you increase. The big increase has two functions. One , to help offset the cost of any future expensive treatment . 2 ) To ' burn you off ' as a customer before the higher risk becomes more inevitable. Insurance companies are not benign altruistic friends. Their prime concern is their profit not your health. Just the way it is.

[Callmeishmael]

66 is the magic number for most Thai Health Insurance providers.  They really don't pay any attention to health history or prior claims, age is the main factor they use when calculating premiums.   Most companies will cancel you outright at 75.

[BangkokHank]

My solution is a combination of self-insuring and taking better care of myself by making wise health decisions such as eating a healthy diet, exercising regularly, avoiding "vaccines", seeking out alternative/natural cures for my occasional ailments,  etc.

[sqwakvfr]

Does Allianz offer a deductible option in order to lower the premiums?  

[UWEB]

5 hours ago, ScotlandtheBrave said:

I have just received my annual renewal paperwork and found that this year it has risen to 88,000 Baht!!!!! I am 66 and have had a policy with this company for thirteen years and made very few claims. What is going on? This is a huge increase. Can anyone explain why this is happening? 

Here is an example when Health Insurances increasing the Premium, as you have written you are now 66 means Premiums going significantly up.

 

[ScotlandtheBrave]

Thank you all for your responses. I suppose I just have to enjoy the joys of getting old, and pay up. 

[jayboy]

On 1/1/2025 at 3:16 PM, BangkokHank said:

avoiding "vaccines", seeking out alternative/natural cures for my occasional ailments

 

That sounds like an excellent recipe for long life.

[howerde]

Thai health insurance jumps up a lot every 5 years so at 66 you have gone up a band (it will also go up a lot at 71) they yearly increases seem to be linked to inflation, though i am impressed they did not just add exclusions to your policy

[OJAS]

On 1/1/2025 at 6:56 PM, UWEB said:

Here is an example when Health Insurances increasing the Premium, as you have written you are now 66 means Premiums going significantly up.

 

 

"The premium for age over 65 years old is use for guidance only. The actual premium is subject to PCHI's underwriting results will be considerably higher."