Bankok Banks Smart 1st accident insurance

[FiftyTwo]

Has anyone ever used this in a hospital in CM?

It was 2k5bht for 30k on any one accident. Thought it was about time I had some accident insurance, seems easy enough to use, just give the card to the hospital.

So anyone used this?

[Suradit69]

Never used it, but maybe you need to check out the deductible and other terms to see what you're actually paying for. Some accident insurance excludes motorcycle accidents, for example. And, for any sort of serious accident, Baht 30,000 isn't going to pay for much.

You should at least check with BUPA or some other health insurers to see what you can get and how they payout for different types of accidents. Depending on your age, I would think there are policies that have higher potential payouts. At Baht 2500, you're paying over 8% of the maximum you may expect to receive.

[FiftyTwo]

Never used it, but maybe you need to check out the deductible and other terms to see what you're actually paying for. Some accident insurance excludes motorcycle accidents, for example. And, for any sort of serious accident, Baht 30,000 isn't going to pay for much.

You should at least check with BUPA or some other health insurers to see what you can get and how they payout for different types of accidents. Depending on your age, I would think there are policies that have higher potential payouts. At Baht 2500, you're paying over 8% of the maximum you may expect to receive.

It includes death insurance of 600k, and loss of earning insurance if you are working.

M/c accidental cover is specified, it's a comprehensive accident insurance, no deductibles.

30k medical covers a lot of work in a Thai government/private hospital.

[NancyL]

One of the attractive features of this policy is that it's possible to buy coverage as a new customer up to age 100. Also, you don't have to be a customer of Bangkok Bank to obtain the policy. The policy for those over age 50 is called PA Senior 1st and it does have an exclusion for accidents while riding on a motorcycle, either as a passenger or driver.

There isn't a deductible. Hubby and I use this policy in conjunction with a more comprehensive health insurance policy that has a high deductible to keep the policy affordable. We figured that in case of an accident, the Bangkok Bank policy would cover the health insurance policy's deductible and then the health insurance would kick-in once we exceeded the max. payout of the Bangkok Bank policy.

Now to make this CM-specific, with the hope that the mods don't move the thread to the Insurance forum where it will die a quick death --- I know several people who have claimed with this policy in CM. One friend said she's been to CM Ram twice this year because of an accident and all she has to do is give them the insurance card and she never saw a bill. The social workers at several hospitals have told me their hospitals would accept the policy without question.

The upper tier policy has a 60,000 baht max payout per event (but the premium only costs about 6000 baht/year) Yes, that's low, but it would go a long way for treatment at Suan Dok, the gov't hospital associated with CMU. Typically, they'll want a deposit of about half the total anticipated cost before undertaking an orthopedic surgery. Most fractures I've seen due to accidents (legs and hip fractures) are repaired with a total cost of 60,000 - 120,000 baht. That Bangkok Bank policy would create instant access to the amount needed for the deposit to begin treatment beyond simple stabilization.

[FiftyTwo]

One of the attractive features of this policy is that it's possible to buy coverage as a new customer up to age 100. Also, you don't have to be a customer of Bangkok Bank to obtain the policy. The policy for those over age 50 is called PA Senior 1st and it does have an exclusion for accidents while riding on a motorcycle, either as a passenger or driver.

You can use the PA 1st policy until you are aged over 65 (cost 2480bht).

You can use the PA Senior from age 50 (cost 5080bht).

Up to you.

http://www.bangkokbank.com/BANGKOKBANK/PERSONALBANKING/BUILDYOURWEALTH/BANCASSURANCE/Pages/PA1st.aspx

TMB do a accident and illness insurance for 9,500bht, but you have to start it by age 59 and you can't renew it after age 65.

http://www.tmbbank.com/personal/insurance/insurance/tmb-health-care-en.php

Edited September 15, 2013 by FiftyTwo

[NancyL]

Couple other points -- the accident rate in Thailand (for all accidents, not just vehicular accidents) is more than 20 times what it is in western countries. The vast majority of the clients we assist at Lanna Care Net are accident victims, with surprisingly few occurring while driving a motorcycle. (being hit by a motorcycle while walking is more common) Falls at home are a close second -- why oh why do they have some many little steps throughout Thai interior spaces?

As mentioned, the policy does include a 600,000 baht life insurance policy, which may be the only thing of value that someone could leave their Thai partner. Plus, it covers a month of in-patient rehab at a rate of 1000 baht/day. That would enough cover residential treatment at McKean Rehabilitation Center with daily physiotherapy sessions! Most people over age 50 don't just get up and start walking after repair of a lower-body fracture and a week or two in hospital. That month at McKean could make a big difference in regaining full ability to walk again without a cane.

[Mike45]

Couple other points -- the accident rate in Thailand (for all accidents, not just vehicular accidents) is more than 20 times what it is in western countries. The vast majority of the clients we assist at Lanna Care Net are accident victims, with surprisingly few occurring while driving a motorcycle. (being hit by a motorcycle while walking is more common) Falls at home are a close second -- why oh why do they have some many little steps throughout Thai interior spaces?

As mentioned, the policy does include a 600,000 baht life insurance policy, which may be the only thing of value that someone could leave their Thai partner. Plus, it covers a month of in-patient rehab at a rate of 1000 baht/day. That would enough cover residential treatment at McKean Rehabilitation Center with daily physiotherapy sessions! Most people over age 50 don't just get up and start walking after repair of a lower-body fracture and a week or two in hospital. That month at McKean could make a big difference in regaining full ability to walk again without a cane.

NancyL

I like this idea of pairing up this accident insurance with a health plan that has a higher deductible. You have a lot of experience with people with health insurance so I would be interested to know about the Heath plan you chose for yourself.

Thanks

[NancyL]

Actually I don't have much experience with people with health insurance! Most everyone who comes on my radar doesn't have health insurance. Most would have greatly benefited from this Bangkok Bank policy.

I'd rather not disclose the health insurance that Hubby and I have, because each person's situation is unique. What we have isn't the best for everyone, it's just what we thought would be the best for us at the time we signed on. It's turned out to be just fine the one time we had to make a claim.

I haven't shopped for health insurance for over five years. This isn't something you change often, because most policies will exclude pre-existing conditions for 2 years, or 5 years for cancer. If you switch policies every few years, you'll never graduate from the "pre-existing condition trap. Also, Hubby is now officially "elderly" (he turned 65 this year), so buying a new policy for him becomes very difficult. (Note to Hubby: DO NOT disclose MY age on the internet!)

One reason we bought the policies we have is that coverage can continue as we age. (they don't accept new customers above a certain age, but don't toss existing customers) However, the rates change when someone turns age 66, 71, 76 with dizzying results above age 76. At some point, it might make more sense to "self-insure" if there are sufficient resources. By that, I mean about 5-6 million baht in life reserves to cover several serious illnesses. Most people who talk about "self-insuring" don't actually have sufficient financial reserves to truly self-insure.

For those folks, returning to the safety net of the home country really makes the most sense. It's my observation that things really start to slide (from a health and accident stand-point after age 75) Few people want acknowledge that, though. They think the fun's going to last forever.

Edited September 15, 2013 by NancyL

[Oscar2]

Never used it, but maybe you need to check out the deductible and other terms to see what you're actually paying for. Some accident insurance excludes motorcycle accidents, for example. And, for any sort of serious accident, Baht 30,000 isn't going to pay for much.

You should at least check with BUPA or some other health insurers to see what you can get and how they payout for different types of accidents. Depending on your age, I would think there are policies that have higher potential payouts. At Baht 2500, you're paying over 8% of the maximum you may expect to receive.

It includes death insurance of 600k, and loss of earning insurance if you are working.

M/c accidental cover is specified, it's a comprehensive accident insurance, no deductibles.

30k medical covers a lot of work in a Thai government/private hospital.

most of those policies exclude moto accidents. check the fine print. and as far as your assertion that "30k medical covers a lot of work in a Thai government/private hospital.", maybe 10 years ago! i was in a moto accident this year, was taken to a cheapo hospital nearby - 38,000 Baht the first day, 25,000 Baht each day thereafter. check around at the cost of surgeries, CT scans, setting bones, drugs, therapists, and i think you will see that 30k Bahts is nothing here now when it comes to hospital care.

[anto]

One of the attractive features of this policy is that it's possible to buy coverage as a new customer up to age 100. Also, you don't have to be a customer of Bangkok Bank to obtain the policy. The policy for those over age 50 is called PA Senior 1st and it does have an exclusion for accidents while riding on a motorcycle, either as a passenger or driver.

You can use the PA 1st policy until you are aged over 65 (cost 2480bht).

You can use the PA Senior from age 50 (cost 5080bht).

Up to you.

http://www.bangkokbank.com/BANGKOKBANK/PERSONALBANKING/BUILDYOURWEALTH/BANCASSURANCE/Pages/PA1st.aspx

TMB do a accident and illness insurance for 9,500bht, but you have to start it by age 59 and you can't renew it after age 65.

http://www.tmbbank.com/personal/insurance/insurance/tmb-health-care-en.php

Thanks i just got the PA 1st Smart ,as it covers motorcycle accidents .The policy at B2,480 pays out B600,000 on my death to my wife . I was asking about Life Insurance ,and it would have cost me B60,000 a year which is far too much for me .I also have health insurance from LG Pacific .