Multiple Insurances For The Same Risk. Who Pay Out?

[coalminer]

Hi,

I have a specific question about Insurances in Thailand to which I couldn't find an adequate response.

Suppose a family, a man, a wife and some children.

The man is subscribed to a Health Insurance package for his family.

The man has also a full-risk car Insurance which takes care of the driver and passengers in case of an accident.

The children have each a personal accident Insurance with the school.

The father has also an Insurance/savings plan for his children with the Bank.

Suppose now, while driving the kids to school, an accident happens and the whole family or some of the family members are being hospitalized (driver is not in fault).

Normaly, the family can launch a hospitalization claim with the Bank, the school, the car insurance company, AND the health insurance company.

This would mean that they will receive indemnization from 4 companies.

Thinking further along the line, suppopse that one or more family members are killed in the car accident.

That would mean that they will receive indemnization from 4 companies (and maybe also from the other driver insurance).

Is this true?

Or is only 1 company required to pay the indemnization?

Are the insurance conpanies in Thailand linked together trough some database in which they can see how many insurances a particular person has subscribed to?

Coalminer

[ProThaiExpat]

Ah, if it only was true, we would all profit from insurance claims instead of losing, since carriers severely depreciate anything before paying out, including fighting with the hospital about whether any of the bill was for "personal" items or excessive.

Most policies have specific co-insurance provisions that require you to reveal if you have any other insurance coverage on the loss and have specific language whereby you give them the authority to act in your name in recovering such co-insurance benefits or pursuing the other party who might be at fault.

Automobile policies usually end up paying for the property damage claims for the car and by agreement between the carriers, the hospital is most often paid by the health insurer. Accident policies may well have deductions for co-insurance spelled out since that payout is supposed to be a policy to make you whole from your loss, not to profit from it. Yes, if broken bones are involved, there is a specified payout which is not reduced unless you recover money from a third party, and then they may have a re-reimbursement provision.

Clearly, you should read every policy you buy carefully and see what co-insurance provisions they have, but believe me, the insurance carriers cooperate well in this area and rarely do they pay out twice for the same claimed loss.

I am sure the policy at a school clearly defines pay out only if there is no other payout from another carrier, as this provision would greatly lessen their exposure and reduce their premiums.

It is often said that insurance policies consist of one paragraph of coverage and dozens of pages of exclusions.

[Sulaphat]

Hi,

I have a specific question about Insurances in Thailand to which I couldn't find an adequate response.

Suppose a family, a man, a wife and some children.

The man is subscribed to a Health Insurance package for his family.

The man has also a full-risk car Insurance which takes care of the driver and passengers in case of an accident.

The children have each a personal accident Insurance with the school.

The father has also an Insurance/savings plan for his children with the Bank.

Suppose now, while driving the kids to school, an accident happens and the whole family or some of the family members are being hospitalized (driver is not in fault).

Normaly, the family can launch a hospitalization claim with the Bank, the school, the car insurance company, AND the health insurance company.

This would mean that they will receive indemnization from 4 companies.

Thinking further along the line, suppopse that one or more family members are killed in the car accident.

That would mean that they will receive indemnization from 4 companies (and maybe also from the other driver insurance).

Is this true?

Or is only 1 company required to pay the indemnization?

Are the insurance conpanies in Thailand linked together trough some database in which they can see how many insurances a particular person has subscribed to?

Coalminer

Depending upon the coverages provided by the various policies and the actual nature of the injuries sustained, it is possible that more than one of the policies you mention above would respond.

Regardless of the fact that more than one policy may respond, they collectively will not reimburse medical/hospital expenses for more than the amount actually incurred.

In the case of death or dismemberment, it is very possible that more than one personal accident and/or life insurance policy may provide indemnity.

If the party that caused the accident has third party liability insurance, then his or her insurance policy may be called to pay for items that would otherwise be paid by medical insurance. It may also be called to pay for items not normally covered by medical insurance such damages for loss of income and the like. Any of the insurers providing medical coverage would be very keen to see that this policy pays first.

You describe a situation that has numerous possible outcomes as far as insurance coverage is concerned.

[coalminer]

Suppose a family, a man, a wife and some children.

The man is subscribed to a Health Insurance package for his family.

The man has also a full-risk car Insurance which takes care of the driver and passengers in case of an accident.

The children have each a personal accident Insurance with the school.

The father has also an Insurance/savings plan for his children with the Bank.

You describe a situation that has numerous possible outcomes as far as insurance coverage is concerned.

I think that my desciption of the situation is very common.

A normal average family who brings the children to school in the morning and is involved in an accident.

Very few Thai people have a car insurance and even more are driving without a driver license.

As far as I'm concerned, all my family members have a Health Insurance, I have a full-risk car Insurance, the school has a Private Insurance (which I pay for) and my children have a Savings plan with the Bank which also includes a Basic Life/Health Insurance.

"ProThaiExpat" mentions that I should read every little letter of the Insurance polis.

I agree with him on this and that was what I was doing in my own country with every Insurance I had before signing.

In my country we use to say when subscribing to any insurance: "read the letters in small font first".

But in Thailand, I didn't see any Insurance document in another language as Thai.

Even after writing several times to the Thai dealer and even to the Head Center abroad, they refused to send me a translated document with the lousy explanation that in case of a claim, the THAI LANGAUGE document would be considered only and the THAI LANGUAGE document would leave a lot of "personal intrepretation" open to the reader (sic).

For this specific question, I was thinking of a REAL situation which I encountered a few days ago.

My mother-in-law is very old (75+) and my wife was thinking to make $$$ out of the situation.

My mother-in-law has a Life Insurance with the Tambon and the Tambon Life Insurance will pay-out the fabulous sum of 40,000 Baht in case of death.

My wife called another company and asked them for a Life Insurance for her mother.

The Insurance Company came to our home with full bkaze, and after many laughs, jokes and a bottle a Lao Whishy, my wife had a Life Insurance for her mother which would pay-out 2,000,000 Baht in case of death.

All this "near future" money has started to spin into her head, and she is considering now to involve a third and maybe a fourth Life Insurance Company.

As the posters in this thread have responded already, in the case of a Life Insurance it will be likely that they all pay-out.

Thus it is likely that my wife turns out a future "billionaire" when her mother dies.

Well, this is Thailand .......

Coalminer

[Sulaphat]

Most life insurance companies in Thailand won't issue a policy covering a person older than sixty years.

With all that Mekhong flowing while the application form was being filled out, I'd want to make sure that an "honest mistake" wasn't made and that the life policy doesn't cover your life instead of granny's. Has the Mrs. recently mentioned that skydiving would be the pefect hobby for you to take up?

[coalminer]

Most life insurance companies in Thailand won't issue a policy covering a person older than sixty years.

Look at this Insurance Company Website who ensured my MIL.

http://www.thailife.com/en/policy/pa/

Ooooooooooooopppppppsssss,

They accept subsriptions untill 75 years of age.

[Sulaphat]

Most life insurance companies in Thailand won't issue a policy covering a person older than sixty years.

Look at this Insurance Company Website who ensured my MIL.

http://www.thailife.com/en/policy/pa/

Ooooooooooooopppppppsssss,

They accept subsriptions untill 75 years of age.

I should have chosen my words more carefully. I'll restate: Most insurance companies in Thailand won't issue a life insurance policy to people older than sixty years.