Healthcare Insurance

[Etaoin Shrdlu]

36 minutes ago, nofarang said:

My insurance company is MUANG THAI LIFE INSURANCE, they offer health insurance combined with life insurance. (life insurance is just a small amount, I think it is due to company regulations). I entered at 71, two years ago, inpatient premium is 135.000 Baht, i have no preexisting issues. Premium is modestly increased every five years.

 

The company was founded in 1951 and "was the first life insurance company to be appointed under the royal patronage of King Bhumibol Adulyadej", Wikipedia. Where I live, the insurance company has a very helpful English-speaking representative. Anyone interested may send me a board mail.

 

Life insurers in Thailand offer life insurance with an endorsement that adds medical coverage. Typically a significant portion of the annual premium goes towards the life insurance component of the coverage. This is fine if you want life insurance coverage, but bear in mind that life insurance tends to be fairly expensive, especially for older people.

 

The limit of liability for medical expenses under a life policy is sometimes the same as the life insurance amount, which may make getting adequate limits for medical cover expensive. What limit does your policy provide under the medical cover endorsement? 

 

There is also another catch: Thai life insurers tend to offer only whole life policies. These are life policies with a cash value. This can present issues for Americans because the cash value counts towards the aggregate $10,000 FBAR filing threshold and may therefore require reporting. Not only that, but the investment or interest income paid by the insurer on the cash value, unlike US whole life policies, is taxable income under IRS regulations. Not all life insurers provide a sufficiently detailed breakdown of investment income for a policyholder to be US tax compliant.

 

Insurance agents are often only trained to sell the product of the insurer they represent and can't give you options from other insurers. They are also the legal agent of the insurer and have fewer obligations to provide advice or to look after the interests of the policyholder than an independent broker does.

[scubascuba3]

9 hours ago, nofarang said:

My insurance company is MUANG THAI LIFE INSURANCE, they offer health insurance combined with life insurance. (life insurance is just a small amount, I think it is due to company regulations). I entered at 71, two years ago, inpatient premium is 135.000 Baht, i have no preexisting issues. Premium is modestly increased every five years.

 

The company was founded in 1951 and "was the first life insurance company to be appointed under the royal patronage of King Bhumibol Adulyadej", Wikipedia. Where I live, the insurance company has a very helpful English-speaking representative. Anyone interested may send me a board mail.

At 71 I'd expect them to find pre-existing conditions when you claim, fingers crossed🤞 

[jori123]

Best and cheapest is just two hours away from bkk,anything and everything,India, calcutta saved my life early diagnosis of cancer,fraction of price Thailand,,about 140 pounds return

[scubascuba3]

49 minutes ago, jori123 said:

Best and cheapest is just two hours away from bkk,anything and everything,India, calcutta saved my life early diagnosis of cancer,fraction of price Thailand,,about 140 pounds return

Did you arrange everything in Thailand before you went?

[nofarang]

11 hours ago, Etaoin Shrdlu said:

 

Life insurers in Thailand offer life insurance with an endorsement that adds medical coverage. Typically a significant portion of the annual premium goes towards the life insurance component of the coverage. This is fine if you want life insurance coverage, but bear in mind that life insurance tends to be fairly expensive, especially for older people.

 

The limit of liability for medical expenses under a life policy is sometimes the same as the life insurance amount, which may make getting adequate limits for medical cover expensive. What limit does your policy provide under the medical cover endorsement? 

 

There is also another catch: Thai life insurers tend to offer only whole life policies. These are life policies with a cash value. This can present issues for Americans because the cash value counts towards the aggregate $10,000 FBAR filing threshold and may therefore require reporting. Not only that, but the investment or interest income paid by the insurer on the cash value, unlike US whole life policies, is taxable income under IRS regulations. Not all life insurers provide a sufficiently detailed breakdown of investment income for a policyholder to be US tax compliant.

 

Insurance agents are often only trained to sell the product of the insurer they represent and can't give you options from other insurers. They are also the legal agent of the insurer and have fewer obligations to provide advice or to look after the interests of the policyholder than an independent broker does.

Thank you for your remarks.

I am covered up to 5 million Baht per inpatient hospitalisation per year.

No deductible.

 

[jerrymahoney]

3 hours ago, scubascuba3 said:

At 71 I'd expect them to find pre-existing conditions when you claim, fingers crossed🤞 

Since one has been subject to a detailed medical underwriting in order to get the life insurance in the first place, that there will be some 'newly discovered' condition upon submitting a claim is not the same as with the initial health insurer underwriting.

[jori123]

1 hour ago, scubascuba3 said:

Did you arrange everything in Thailand before you went?

Need visa, about 40 pounds,knew where to go by scanning the web

sonascan  was recommended, truly well impressed,book hotels thru booking.com ,may go over next week for check up

[Etaoin Shrdlu]

48 minutes ago, nofarang said:

Thank you for your remarks.

I am covered up to 5 million Baht per inpatient hospitalisation per year.

No deductible.

 

 

That's a reasonable limit for the premium mentioned.

 

[scubascuba3]

23 minutes ago, jori123 said:

Need visa, about 40 pounds,knew where to go by scanning the web

sonascan  was recommended, truly well impressed,book hotels thru booking.com ,may go over next week for check up

Good, let us know how you get on, better still start a thread about it, many will be interested 

[buddy2010]

A good friend in Jomtien, with PACIFIC CROSS for 6 years.
Sum insured per year 5 mill. deductible 40.000.-THB 
Back pain last year, goes to the BKK hospital,
Diagnosis CYSTE.
Inpatient admission and surgery = approx. 180,000 THB
When planning the operation, they discover: difficult position of the cyst, a piece of bone has to be removed first.
New costs: 260,000 baht.
After the operation: Pacific Cross pays “only” 100,000 baht and deducts a 40,000 baht excess.
Conclusion: the insured person pays 200,000 baht himself.  Premium increase of 30%.
Then what is no exception here...the “notification” from the PC 
From now on the back is no longer insured!

[bradiston]

3 hours ago, jori123 said:

Best and cheapest is just two hours away from bkk,anything and everything,India, calcutta saved my life early diagnosis of cancer,fraction of price Thailand,,about 140 pounds return

Early diagnosis of cancer could be anything. An annual check up, for instance. Was it the treatment that cost a fraction of the Thai price? Weren't you insured?

[bradiston]

14 minutes ago, buddy2010 said:

A good friend in Jomtien, with PACIFIC CROSS for 6 years.
Sum insured per year 5 mill. deductible 40.000.-THB 
Back pain last year, goes to the BKK hospital,
Diagnosis CYSTE.
Inpatient admission and surgery = approx. 180,000 THB
When planning the operation, they discover: difficult position of the cyst, a piece of bone has to be removed first.
New costs: 260,000 baht.
After the operation: Pacific Cross pays “only” 100,000 baht and deducts a 40,000 baht excess.
Conclusion: the insured person pays 200,000 baht himself.  Premium increase of 30%.
Then what is no exception here...the “notification” from the PC 
From now on the back is no longer insured!

Wrlife... In the last month, 9 days inpatient treatment for cellulitis, 250,000 THB, covered. One night colonoscopy and associated treatment, 115,000 THB, covered. Waiting to hear about possible next procedures. Up to 30 days follow up costs, and all meds covered.

 

10,700 THB pm. Age 75. 2 year moratorium on Afib, now completed, so now covered. Good customer service on Thai number, non Thai CS personnel. To date, no complaints, but as they say in the investments trade, past performance is not a guarantee of future performance. And of course, as always, YMMV.