What Is It with Life Insurance Here?

[pkspeaker]

The next hook employed was how much money I would get if my wife died which ended up getting me in the doghouse when I pointed out that I would save a fortune if that happenned as I would no longer be employing a professional shopper and lottery number selector.

Heehee

[MaeJoMTB]

Thai life insurance is a type of pyramid selling scam.

Often they don't pay out.

But the gf will get a tidy backhander.

And maybe a cash payout if her parents die.

Just another way for fools to waste money.

[johnh869]

They appear to be a marketeers dream targeted at gullible people who believe whatever they are told. I have had to stop my wife from buying these policies a couple of times because she had been talked into them by 'a friend of a friend' - part of the problem being the obligation my wife felt not to let her friend down by not buying the policy.

A lot of people seem to buy these policies in place of health insurance when a proper policy from someone like BUPA would be both cheaper and have better coverage, particularly for critical conditions.

The sales 'friend' made a particular point of stressing to my wife how much money she would get if she got cancer which, apart from being highly unlikely for someone under 40, was actually far less than a BUPA policy and nowhere near enough for proper treatment.

The next hook employed was how much money I would get if my wife died which ended up getting me in the doghouse when I pointed out that I would save a fortune if that happenned as I would no longer be employing a professional shopper and lottery number selector.

Bupa,AIA,Thai Life,....These seem to be ok for health insurance. However,the health insurance part is the rider! The main policy is life insurance and you must select at least 100,000 baht coverage as a minimum. They're called H&S (Health & Surgical) policies. I have one AIA accident policy and three AIA H&S policies. They (AIA) have always paid about 80 to 90 % of the total bill and you are covered up to age 80.The H&S policies pay dividends (about 10%) as well. I also have the Thai social security coverage. Have U.S. Medicare A&B for when I go on vacation to the states. I could save all that money and not buy the Thai policies and only keep the Thai and US Social Security coverages but I figure at my age I just might need it. Wish I could claim the Thai hospital bills from U.S. Medicare but I don''t think that will happen in my lifetime! Ha! Ha!

[jcnbkk]

Yes. My gf, and her family also do not understand insurance. For that matter I don't either. Pay someone many dollars over the years, so maybe one day you might need it. But if you never need it you don't get the money back. If you do file a claim they can cancel your insurance. Biggest scam ever invented. Except for, maybe religion.

++. Nice analogy to the insurance for the soul scheme.

[jcnbkk]

I have AIA health insurance, they payed.

I've heard that about them, and KhrungThai Extra.

[soalbundy]

The cost of life insurance in Thailand, even when bundled with AD&D provisions, seems extremely high to me. I imagine that this is attributable to such policies being issued in an unregulated environment. I would never buy insurance here.

I pay 60,000 a year for mine but it is combined with a health insurance which can even be used abroad. I have been to hospital twice on this insurance, no problem.

[claffey]

Your all missing the bigger picture here. Thailand is not a welfare state like back home. We don't have to think about this shit because our nanny states will look after us! Example...NHS+ OLD AGE PENSION+ SOCIAL Welfare etc.....Thais are actually being responsible by looking after their loved ones futures...

Don't be critical of everything just because its different than back home.Keep an open mind and usually the logic behind it all will present itself!

[johnh869]

They appear to be a marketeers dream targeted at gullible people who believe whatever they are told. I have had to stop my wife from buying these policies a couple of times because she had been talked into them by 'a friend of a friend' - part of the problem being the obligation my wife felt not to let her friend down by not buying the policy.

A lot of people seem to buy these policies in place of health insurance when a proper policy from someone like BUPA would be both cheaper and have better coverage, particularly for critical conditions.

The sales 'friend' made a particular point of stressing to my wife how much money she would get if she got cancer which, apart from being highly unlikely for someone under 40, was actually far less than a BUPA policy and nowhere near enough for proper treatment.

The next hook employed was how much money I would get if my wife died which ended up getting me in the doghouse when I pointed out that I would save a fortune if that happenned as I would no longer be employing a professional shopper and lottery number selector.

Bupa,AIA,Thai Life,....These seem to be ok for health insurance. However,the health insurance part is the rider! The main policy is life insurance and you must select at least 100,000 baht coverage as a minimum. They're called H&S (Health & Surgical) policies. I have one AIA accident policy,three AIA H&S policies, and two AIA life insurance policies. Total costs for all my policies is about 250,000 Baht per year. AIA has always paid about 80 to 90% of the total bill for the H&S and 100% for the accident. All the H&S coverages can be summed together and you are covered up to age 80.The H&S and life insurance policies pay dividends (about 10%) as well. The AIA accident policy covers you up to age 72.

I also have been using the Thai social security coverage since 1991. Have U.S. Medicare part A&B for when I go on vacation to the states. I could save all that money and not buy the Thai policies and only keep the Thai and US Social Security coverages but I figure at my age I just might need it! Wish I could claim the Thai hospital bills from the U.S. Medicare coverage but I don''t think that will happen in my lifetime! Ha! Ha!

Edited April 2, 2015 by johnh869

[Ghostnigel]

Dead for profit.....................

mental isn't some place you get driven. It is where you are and get reminded. Buy the stinking insurance.

Its not Thiland its you.

Dear oh dear, we are in a bad mood today, arent we?