Why long-term expats in Thailand say insurance is worth every baht

4 hours ago, Dilligaph98 said:

To be clear, I paid in for more than 20 years, and the premiums were not really bad - considerng I had my wife and son covered too. During that time we had a couple of major claims, all paid promptly (less excess) but the premiums did not jump horrifically. With son overseas, wife covered for the day-to-day by the state scheme, and me getting ancient, the equation changed. Any minor problem was not worth claiming (excess again); I had done heart ops and cancer; and as I think I said before, the kind of stuff that happens as you wear out (cataracts are good example) are not covered at all. I just have to avoid getting hit by a bus.

All insurance is a gamble and I eventually figured the odds were not strong enough. 

I will name what used to be Bupa, more recently something else (Zurich?), because they were ok with payouts and cancelled without problems, much to my surprise.

Hospitals less exemplary. Sikarin (BKK, Srinakarin) actually held me prisoner on a Saturday morning when I tried to discharge myself after an op. unitl the cheque arrived from the insurer! Noever, ever use that place even in an emergency!!

yours is a good example ( family, not yet old , and i assume working)  where the premiums , especially 10 to 20 years ago , could be "reasonable"  .   And,  your choice to give it up , and the reasons, make sense .

Many of the members on this forum probably fit into the category where they are single, or have Thai families that are covered by the Thai system .   For those who are "ageing" and living on a fixed income, and investments ,  well........ insurance has gotten exhorbitant, and less and less is covered .   It's then that one has to assess their own health condition,  lifestyle, and whether or not their stable income can keep up with the voracious appetites of the insurers .   

Some people live a 9 to 5  worklife for most of their best years,  save what they can, and feel safe living with the fruits of their labors.   And insured . 

Others are maybe more "risktakers" ....... retiring early to enjoy a more vibrant life while they can .   It takes all kinds .   Some risktakers manage to learn and adapt to not using first class hotels and very expensive hospitals .   IF they have saved , and enjoy a "modest" but free and easy (compared to their homelands)  lifestyle ...... and often they are more creative moneywise than the work till 70 retirees......  then having a decent nest egg which can take care of MOST  medical situations  (no, not triple bypass with double amputations)  ,  is a great way to enjoy life while it is still enjoyable.       

Works for some.   Just as paying large premiums yearly works for others.   Seems like the ones with the most problems are the insurance advocates .   Maybe so,  until their exclusions outweigh what they're covered for .    lol