HEALTH INSURANCE IN THAILAND, WHY I WON’T TAKE OUT A POLICY
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- Опубліковано 17 жов 2024
- In this upload I explain the reasons that I have decided not to take out a health Insurance Policy here in Bangkok, Thailand after a year of in-depth research. I have decided to go down the route of self-insured.
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Warning, long post.
I'm glad you've stated this, Peter. As many get this false sense of security of thinking that they'll be covered on pre-existing conditions when they're not. I would shake my head when people think just because one discloses all that they'll be in the clear and covered, when in reality, you've pretty much canceled these as being insured against. I'll take myself as an example, I take a med and supplement blood thinner, have had a thyroid nodule, and have had acid reflux, which has now been cleared. By disclosing these, I've pretty much canceled all I've mentioned as being insured on, and if one has smoked in the past, then good luck claiming for anything respitory related, EVER. I see having insurance for accidents only, though even these can be scrutinized due to being careless in their eyes. I'll give 2 examples that not many think about. Getting into an accident in a taxi. If you don't have your seat belts on, you will not be insured. If you're even on a motor bike as a passenger, you must have an international driver's license, suitable well secured helmet, not inebriated and even the size of the engine matters, could all disqualify one from collecting on a claim. I believe they do these yes/no answers on their forms for a reason because it's not a yes/no answer they'll be looking for when it's time to pay.
I know the insurance company you are talking about Peter, when I was arranging my insurance through them. I told them that I'd had a colonoscopy ( camera up the ****), a couple of months earlier, in Australia, to check for bowel cancer. Just as part of the full check up I wanted before I moved to Thailand.
I told them on the form that the results came back all 100% clear, thinking this could possibly reduce the premium. But one of the things they stated when they accepted my application, was that I wasn't covered for bowel cancer.
So they wrote in a clause saying they wouldn't cover me for a condition, that I'd just been tested for, and given the all clear.
The reason they gave me was that I wasn't covered, because I went to a hospital and got the test.... work that logic.
BTW, best video and sound Ive seen in any of your videos so far, BBC quality.
🙂
That's terrible
I’m glad I went through the process; I’ve learnt a lot! If anybody asks me in the future about insurance, if they can afford it, I would definitely recommend self-insurance, at least you know you know you are totally covered.
Great information. I have tried getting a quote for health insurance from 13 different corporations. with no luck. This information you have talked about is certainly the best way. Thank you. Wish you the very best of health.
Peter the information and your honesty are much appreciated. Thanks mate👍
Hello Peter
Just a few suggestions having worked for insurance companies.
Please remember that the contents of your health form does not go to a panel of health professionals.
Instead, they use an algorithm to determine their risk.
They are only interested in what has the potential to take your life, everything else clouds the issue.
For example, dermatitis is not risk to your life, nor is acid reflux.
You will be able to handle Arthritis and similar chronic illness yourself with your own money.
The form only need contain the things you consider life threatening, ie lung cancer, heart issues, stroke, that's it!
You need some sort of insurance because you never know what the future holds for your friend who you are relying on to step in at the right moment.
Is very educational!!!!! This was never on my mind with my plans to move to Thailand. This was an eye opener, thank you Peter.
Peter..you know as men we are not allowed to show our emotions. Make sure you take the time to feel yours, and express anyway you see fit. Me and the mother of my children went different ways after 27 years. I don't know exactly how you feel, but I felt an emptiness in me after that. The good thing is you have your health, and you have Thailand. I honestly am still on the fence about Thailand, but I will probably come for a visit soon. Keep your chin up, and eyes forward. Love your videos.
Hey Peter Once I hit 70 the premiums became outrageous so I decided to self insure as well.. The tricky part is you have to be disciplined and not touch the money..
Agree
How much have you put aside?
Can I ask how far 300k baht goes in Thailand i.e. say for some major illness or operation etc or an extended problem. Genuine guestion......
@@andrewwilkinson553 It would not be enough for a joint replacement, unless you went to a public hospital. Inpatient rooms at a good private hospital are a few hundred USD per day or more. Calculate what that comes to in a month. Compared to US, medical rates are cheap because USA is ridiculous. But, they're not actually "cheap." You have to factor in a hospital stay, such as from an accidental fall.
Hanse Merkur less than 300 Euro for full year healthcoverage
Please all take your health seriously. No smoking, no alcohol, if you're seeing your weight go up start taking massive measures to get it back down. Keep added sugar foods to a bare minimum. Always eat clean at home, lots of fruits and vegetables. That's how to lower your odds of getting health problems and living a longer comfortable life. Alcohol is such a brutal killer.
Even if you don't live longer you will FEEL like you've lived longer and praying for the end, before you even know it.
Also,
Don’t play in the street
Get plenty of fiber in your diet
Wash your hands
Don’t insert your fingers into another persons nose
Be sure to check back in the comments section for life coaching
Thanks, Dad.
Greatly appreciated u going thru all the steps. Long ago I’d messaged u abt a friend of mine now retired in Thailand who had the policy u researched. He did get gravely ill, and they cancelled his policy immediately and he had no recourse. The insurance lawyers can find a sinus infection in your record and cancel u at will… But u did all the homework for us. much appreciated…
Anybody know what insurance company Pete was talking about?
Was it Pacific Cross Insurance?
A woman doctor in Chiang Mai told me “obesity is a disease and you’re obese”. Just the 2x4 between the ears I need with that Thai delivery of no judgement. That was 2019. I’m now 40lbs/18kg lighter, work out every day and, living in Thailand, walk 8-10K steps a day. The best way to get back at health insurance companies, oil companies, pharmaceutical companies, meat companies, etc., is not to use their products.
One of the most informative vlogs I have watched yet! Thanks for all your work. Very helpful.
Wonderful video. Thank you for sharing your story. I'm in the exact same situation. I'm likely going to self-insure. I'm planning on setting aside US$100,000 just to be sure.
That's a lot of money that should cover most things in the end I decided to put away 1 million Baht which is about $30,000 I figured that will pretty much cover most things if it's a long-term illness and I can go back to the UK and use the NHS some people will say you can't if you've been away for 2 years but that's absolutely rubbish they'll never turn anybody down
Insurance impossibly expensive after 75. Preexisting conditions will negate coverage. They will pay if caught in an elephant stampede. If $$ an issue go to a Thai govt hospital. Long wait for minor issues, immediate emergency care. Best to have Thai friend get you checked in. Excellent doctors, very affordable. Four days in ward, doctors, nurses, tests, procedures, meds, fluids, supplies totaled $550. Cheaper than cost of useless insurance.
Start with your 300,000 baht in the bank and pay in each year what you would have paid in premiums. That way you have more cash to self insure as you get older and get higher risk of multiple ailments. The 300K is just the seed, you need to keep watering it with annual 40,000 baht.
Good video, by the way. This is the kind of straight forward, honest stuff that makes your channel great.
Really good advice
This is something you should do in any place you live in world.
I had a stroke in pattaya Thailand, 5 days in a govt hospital total cost 500 Canadian dollars. I allso had a heart attack in the Philippines , 5 days in the hospital, $500 Canadian dollars, with private room and bad cable tv and a 24 baby sitter(somebody to talk with and run errands, I was treated well. I had no insurance. this all happed within the last 4 years.
Also the best health insurance we could have and that save us money is simple: No smoke, do exercise regularly , stop drinking alcohol, and keep a healthy diet without ultraprocesed food.
I appreciate that you did all the research. I think self insurance is a rational decision. Maybe keep around a credit card that has a high limit might be a benefit as well.
Yes, good idea.
Very useful, Peter. Thanks for sharing. Wishing you a long and happy life, m8
Forget the insurance for a minute Peter
You look so much healthier then you did broadcasting from the u.k I know so many negative comments on the web.
Best of luck living in Thailand my friend
Ultimately, self in-insuring should motivate you to take better care of your health. No need to stop drinking for months, just drink less frequently and drink less when you do, get a lot more exercise, lose the body fat, reduce your stress levels and eat less carbs and stop drinking sugary stuff.
I think the worst thing would be to self-insure and carry on as you are, because then you're asking for trouble, and I fear very soon you'd be dipping into that money. Take care Peter 👍
good call, I think the same
Always have some kind of insurance, I will always remember when kev in Thailand started with the cancer and what he was having to sell to pay for treatment. kev decided not to go back to the UK due to waiting lists and how long before treatment but ended up having to go back home due to funds. Lesson for many who are cutting back on insurance, you just don't know what is around the corner. I had a stroke in 2014 and I get fleeced every time I get travel insurance to cover anything blood related but I would rather be covered than spending money on treatment
Like what you said about not knowing what is around the corner. I had a stroke in 2014 likewise. Thought I was in great shape and health, but my body said otherwise. Thanks for sharing your experience, and the importance of insurance.
I totally agree with you and share the same thoughts. I myself had a similar experience with one of the well-known insurance companies where after negotiations and submitting the application two weeks ago, I am still waiting for an official answer. However, I decided to keep aside a certain amount of cash for the purpose of building a personal health fund without it going to someone else pocket.
Brilliant Peter. I've been considering this option myself, and you're right about insurance companies. I have enough now to bank comfortably and take the punt. Cheers mate 👍
Pete. Just watched this one twice. A very interesting and thoughtful upload indeed that has really made me think! When the time comes to maybe retire there , I will most certainly give this option the highest possible consideration. Thank you for this really interesting and informative post. Cheers 🥂
Hi Mike I think the more money you can squirrel away the better it will be
Hi and thanks for an interesting vlog. I live in Thailand and been here 3 years. I'm 72 diabetic but well managed ,arthritic again managed with medication and not a problem. Slightly elevated BP. I tried getting quotes for health insurance 2 years ago but were ridiculously high with huge excesses. I recently slipped in the bathroom and fractured my hip/femur so was taken to local hospital ( As in Thai government hospital) leg bone and hip bone was metal pinned in an ultra modern theater with a superb surgeon, was in hospital 7 days . Cost 60,000 bhat !!!! . Or £1500 gbp. When I got quotes for insurance they were 18000 thb a month with 1,000000 thb excess. Self insurance is the way to go if you're not 25. The care in the hospital was better than the NHS .
You're taking huge risks
Wise Decision. I am 76 now and looked at insurance last year. A company wanted a fortune same deal.
Recently I had surgery on my hip for a ruptured Medial ligament.
What I found was that health care costs are cheap in Thailand compared to the rest of the world. My operation surgery with the best in Chiang mai cost me 165000 baht ( about 6500 Australian dollars).
So I think self funding is a good idea.
And all the pretty nurses
Included surgeon , assistant , anestitist, 4 nights hospital ect.
A simular surgery in Australia would cost 30000 to 50000
Why would you pay 30-50k in Australia when you have Medicare or Private health insurance?
Thanks Peter, this was very informative and I think i am with you, I can afford the $12k to $15k so why not just place it in an interest bearing account. Do the Thai hospitals take credit cards for payment? Or is it cash only? Love the channel….
you were very diligent in your enquiries. I just signed up years ago with Bupa in Thailand (which went to Aetna and Allianz now). Paying over 13000 baht/month for my wife, our son and myself. Fortunately never had to make a claim so far.
I think you've done the right thing. In fact, you could go a bit further and just make the payments you would have made to the insurance company and make them to the same bank account. This just in case you have to pay out a bit more for a procedure or operation, just for peace of mind. Your bank account will keep increasing and perhaps at some point, go to an island and relax from the city. Money much better spent and will help your overall health. And the final satisfaction that the insurance company will not be getting your money.
Peter you absolutely nailed it about insurance and many insurance companies. Self insurance great idea in Thailand. Thank you for the information.
Thanks for sharing your experience and for the hint. I never thought about it but may consider self-insurance.
Thank you. I found your information very helpful. It’s about doing things outside the box.
You are so welcome!
I'm a insurance broker in the UK. Health insurance is usually taken out on Moratorium basis which usually means anything you have had in the previous 5 years wont be covered for the first 2 years.
Thanks Richard
As a former agent for a private health insurance company (PMI), I can assure you that you saw through the system exactly and made the right decision. Whether benefits are paid at all in the event of a later illness (like cancer) lies solely in the economically driven decision-making power of the insurer.
PMI s only suitable for young people without any previous illness.The only thing as a 63 years old you buy with your money is a sense of securrity and hope .PMI do not exist to help their contributors in the event of a claim, but are commercial enterprises with the sole aim of maximizing profits.
I am an retired and very healthy American living in Thailand and paying for health insurance and I just want to tell you the first time I had a serious and totally unexpected problem and needed to go to the hospital the bill was 1.1 million baht, or almost the same amount I had paid the insurance company for the previous nine years since I have been here. Of course this was all platinum level coverage. Next time who knows, 2 or 3 million? As for the acid reflux, stop drinking, don't eat anything for at least 4 hours before sleeping and take a walk for one hour after dinner very night. I really enjoy your videos and agree with most of what you say but you are just one major problem away from ending up in a Thai government hospital with no air conditioning. keep up the good work.
I think you are talking US Hospital bill right? Thailand is much cheaper and for 1.1 Million you could buy the Hospital! No, I stand by my guns on this subject.
@@ThailandBound i did say baht in my comment.
Insurance companies accept you as a customer. They then accept your payments month after month, year after year. You then, finally, submit a claim. The insurance company has a team that will then go through your initial application all those years ago, with a fine tooth comb looking for any reason to invalidate your claim.
Interesting approach, and probably a good choice for you, especially over the next 5 years, the question I have is, being self-insured, will it be more difficult to get insurance down the road, or will you be able to fortify your self-insurance to cover yourself? Coming from the NHS system I'm sure you look at things differently than someone like myself from the U.S. Our insurance/healthcare system here is ridiculously overpriced and is tied to our employment for the most part. As someone a few years younger than you I can tell you it's something I have on my mind for the coming years. The challenge for me will be to keep myself healthy enough so that I don't have to deal with worrying about paying for the coverage I'd need(or self-insurance). It's too bad that collectively we don't say that health care is a basic human right. Sadly at present it's not and I've known people who's lives were shortened because they couldn't afford the care they needed.
The money I would have paid on premiums will be added to the 300K I start with
Good information for those who are considering ins. I got bit by a dog yesterday and got a rabies booster, tetanus shot and some meds. It was 2,800 baht. For small stuff I also self insure. I am 70 so there is no way I could get affordable coverage now.
Hi Peter, Just had a situation three days ago where a friend was admitted to a government hospital with a heart attack his wife got in contact with my wife to see if we could help. He had insurance but was unable to communicate as he was on a ventilator, we got him into a private hospital and they wanted 300,000 baht up front,as we didn’t know his insurance company I paid with a credit card.The good thing about it was when I presented the card no pin was needed for the transaction so if somebody was admitted and unable to communicate hopefully they would use the card if it was on their presence and might be a better option than money in the bank unable to touch.
A credit card with a high limit is a very good idea.
I totally agree with your conclusions ...the only issue is if Thai authorities mandate health cover for residency permit, then just buy the absolute cheapest cover available and cancel once you have the policy info i guess ? I don't spend more than 3 months away from UK so my annual travel policy gives me some cover at a really low cost. In the future if longer trips i will do the same as you.
Best policy is to live healthy and Thailand is great for that imo.
Thanks Peter for some very good information
Hi Peter hope youre doing great... I applaud you for the decision to self insure and telling us your experience with this insurance company. Just a couple of notes in regards to your plan that I would do if I were in your shoes.. In actuality, I am sort of in your shoes in the sense that I have moved out of US and live in a different country but I am 47 years old with a family history of diabetes and heart conditions so I have been thinking about what happens if I were to God forbid have a heart attack etc. The first note is to research and learn about Coronary Calcium Scans... Maybe you can speak to your doctor in UK when you're there and if you find it would be helpful, to have it done... Not sure if it is available in Thailand... I will be having mine done when I visit US next. Second note is if I were you, aside from the 10K pounds you're locking up in an account, I would still contribute an extra 1 or 2 thousand pounds yearly to that account to counter inflation and if the prices of procedures etc get higher over time... I wish you well and hope you never end up using those funds for medical purposes... Cheers
Yep good advice I've heard of it they definitely do it in Thailand
What visa will you be on, Peter. For my O/A long term retirement visa a health Insurance policy is mandatory for approval.
They do whatever they can to avoid paying.
That’s a fallacy … if all details in application is true they are glad to make payouts as also good for reputation and further new business… the ones that get claims rejected can only blame themselves for untruthful disclosures or lack of…
hi peter yes best way pay as you go ,i paid into an endowment policy paying 250 quid a month i paid for 18 years went to cash it in ,and ended up losing 30% of what i had paid over the years ,insurance companies are a rip off ,
Yes my 300K is a starting point I will add to it each year
It was a wise decision to self insure. There is no gaurentee that insurance will pay out.
You are 100% right they will do their utmost to make out you're not covered
Hi Pete, an interesting video, my concern with your approach is do you really think 300 000 bht. is enough to fund heart surgery in the case of a stroke or heart attack, i persoally know of people who's hospital treatment bill for the same issues have been over 1 million bht. Cheers.
300,000k is a starting point I have a credit card with a half a million but limit on it and I intend to top up my initial hot with what I would have paid insurance company
Maybe a mix calculation would suit, eg. Take out a basic insurance out to cover most ailments and self insure for whatever they don‘t cover. Of course its a case of how much you can push the Insurance fees down, but if they are only giving basic cover then maybe that would apply to the costs! Just a thought.
I'm totally put off insurance companies now I'm not going to bother with them
@@ThailandBound yeah I can imagine, some of these companies are no better than street scammers sometimes 😐
Great video lots of useful information 👍
Just perfect Peter! You try to be fair and honest and you admit! To being proactive with your health, the hospital checks and they still try to shaft you! Then they probably wonder why we don't use them...
I think you should hire a cute little Viet girl as your wardrobe manager. Make sure you put her on camera at the beginning of each vid so that she can speak about her choices for you before each video. 👍
I also self insure as i was honest with the insurers and told them about a hernia operation i had and the response when i read through the terms and condition was they would not pay for anything directly or indirectly related to past hernia????? Well that everything then.
Secondly if you have address, or tax code or active uk bank account you can always go back for treatment in the uk (i looked into it inngreat detail as many people think that if your out of the country for 6 months then you lose entitlement- not true.
Thirdly and what most people dont realise or accept is when you self insure you look after yourself better, you included, ie im going to go to gym and lose weit etc etc. Whereas people who get insurance have a very false sense of security.
Good info here Peter. Keep up the good work from Thailand
Very comprehensive video. Lots of good info.
Self insuring can seem like the better option, but 8K GPB is not enough not even close even in Thailand. Costs can easily mount up Pete especially with Heart issues as this can the perpetuate to other issues. Not to mention Cancer that is by far the biggest cost hands down with regards to long term diagostics, and then any treatment. Here in the UK BUPA and AXA are considered the best, and will always pay out as long as you are "competely honest" on your application, most people are not! Its a business at the end of the day. I would strongly urge you to take out some kind of insurance or put 50k GBP aside and hope thats enough!
300K is my starting point I didn't mention the video that I have a credit card with a half a million Baht limit I also have access to other assets and I intend to top that up with the money I would have paid out on insurance
I belive it's six months out of the UK and you lose your access to the NHS. This after paying in to the system, for your whole working life. Meanwhile Abdul can arrive on a boat and get full free access to the NHS.
who's abdul????
Same as Tom, Dick & Harry
@@ayesham7004illegal immigrant.....come by way of France.
But how do they know you've been living abroad? Ths NHS and immigration systems are not linked should you rock up at a hospital if you travel back to the UK? It is even less likely should you be able to keep a living address in the UK eg family. I really don't get the risk of the 6 months rule?
Similar rules in Canada, but to be fair, same rules apply to all if out of country for that long. In Canada, you would just get reinstated after 3 months by just informing them.
I understand where your coming from. I don't trust insurance companies. Just out to make money and avoid paying out if they can. I never bothered with contents insurance and have saved a few thousand easily.
Your self insurance idea is a great idea as long as you suffer from only one disease and there will be no complications. In other words, 300 hundred thousands baths may be far from enough. Best of luck anyway.
thanks so much for this one...I am in the same boat only older 73 and have a thai wife....I am doing the same but think 1 million baht is what you need to be sure...like your show very much...good info
I can not tie up 1 million baht, the guy told me that it is very rare treatment goes over 300K
@@ThailandBound that's good to know...the medical is my hardest decision since I was on medicare in the USA
Good illustrations on the benefits of self insurance. Also perhaps, when it's your own money you can choose the hospital or medical company, whereas the insurer maybe be locked into partnerships with just one or two health providers, and likely for reasons financially beneficial to them, rather than choosing the medically best option.
Good choice Peter 👍
I had big problems with that company (pc) paying out for my hernia surgery, they contacted every single hospital 🏥 I had been to before even the Bumrungrad Hospital Bangkok I visited 15 years ago for a cut finger, requested medical report's from every hospital I had visited
Trying to previous history of a hernia before I took out their insurance
This went on for almost 3 months I was trying to contact the representative you are talking about J/c supposedly always not in the office every time i called & totally ignored most of my emails or answered with some bullshit story 😡
Was the last thing I needed after an operation & being in pain. In the end they didn't pay out said I hadn't declared a visit to bkk international hospital here in udon thani about a back issue which was resolved 2 years previously back in the uk 🇬🇧 & 1 visit to another hospital when my blood pressure was high
(In summary they couldn't find any previous re- hernia so decided to void my insurance policy so they didn't have to pay out)
Will never use an insurance company again robbing b******s
Now im same as you self insure 👍
Yes, well you are only confirming what I suspected!
So, did the insurance company refund some of the money you paid for the insurance policy?
I used to work in Insurance, non disclosure is main reason co ‘s not pay out , some are harsher on exclusions than others. But you did the right thing being honest about the heart checks you did in December.. I have researched this co too , Axa also are a well known but they are pricey
Hi Peter, thanks for your personal experience, most would not let us in to what you are going through with insurance. At the end of the day, it really is up to you (lol as they say). Warm regards rb
Peter very smart move self insuring. The insurance premiums each year would have increased. 33,000 in year one, probably more like 40,000 per year by year 3. Insurance Industry is the biggest racket going, only Insurance worth getting in my opinion is motor insurance and house insurance.
Forgot to add. Really enjoy these informative Videos!!!!!
Right road to go down. I came to this decisin 6 years ago. I put 350k baht in an account and I top it with 50k a year. I am 64 now and the account has built up to 680k with the interest earned.
Just do not have a serious accident, like the unfortunate UK woman with a 1.8 million baht hospital bill for the treatment so far. She had insurance but not a brain, as she thought like so many that riding a motorbike without a licence, international licence or a helmet was a great idea!
Sounds like you've made the right choice. Utterly shocking that they try to totally eliminate all cardio vascular complaints- especially when you've voluntarily accepted quite high excesses, or lead times on any potential claims. Sounds like they're trying 5o eliminate all risk- in which case they're in the wrong industry.
I think they thought they were ensuring my Underpants
Insuring oneself is very important whether self-insuring or with a company. One issue is there are many companies who will not insure those over 60 or 65, and then even adding in exclusions.
Sound like health insurance in Thailand will do everything they can to avoid any health risk applicants. As for tobacco usage (in USA 🇺🇸) they'll considered a person as non smoker after 24 months if they no longer use any tobacco products. Seem to me Thailand health insurance system is like USA systems back in 20 or 30 yrs ago. I hope you don't get bad records from this horrible co. Thx for sharing Peter and we'll help you out financially if you ever in hospital and in need financial assistance.
good informative video Peter! I might do the same for me living in Rio. Looking forward to your next stream, kindly regards, Reine.
Hi Peter I'm a UK citizen 72 years old I shopped around around for health Insurance I visit Thailand for three months at a time, my cheapest quality cover is with my bank which offer a package. This consists of AA cover which is vehicle breakdown cover, cover for a lost phone and travel insurance. The travel cover is with Alliance I've had a conversation with Alliance and have gone through my medical history and disclosed any medical conditions. The cost of the package is £22.00 a month I paid an extra £220 to give me a maximum of 92 days cover out of the uk in one trip i can take multiple trips in a year but not exceed 92 days, just a thought
Thanks for the info but I can't be bothered with these guys anymore I'd rather just self-insured at least and I'm guaranteed
22 quid a month for thai travel insurance for a 72 year old with full disclosure - If its too good to be true it usually is
Good luck with that decision. Kev in Thailand was a Brit who skipped insurance. You may want to review his decision. And I truly wish you good fortune and a happy life.
Many people have mentioned Kevin in Thailand! The difference between him and me was he cut himself completely from the UK and couldn't use the NHS! this is not the case with me as I have a business paying taxes in the UK so I have a footprint in the UK should I get seriously ill. I can hop on a plane and come back, I'll put 1 million away in Thailand. I hope that satisfies your query... PS, I won't be reviewing my decision I've made up my mind 100-percent I don't trust insurance companies
@@ThailandBound -the other difference is Kev in Thailand was a legend!.
@@ThailandBound why people feel the need to tell their home countries all their business is beyond me. Like you, I have a footprint back home.
Great video and i just opt out of my insurance deal after one year (long history short) and will self-insure. I would find a solution on the capital side not to have the money in bank but in Gold. The inflation figures you have to consider is not "accurate" no interest in the bank it is a loss. Gold is money and it have been so for 5000 years. In Thailand it is easy to sell gold over the counter. Your bath is not 300K in say 10 years.....
"Sweet Peter Geter" great video. You were probably too honest in answering those questions. It sounds like it is something they have to ask but are not trying to hold you liable. I think after you get a certain age it's best to go back to your home country if you are single and seeking serious medical attention AND have no insurance or not enough out-of-pocket money.
I self diagnose using the internet and common sense.
In the last 12 years or so, I've diagnosed and cured myself of Dengue fever, chronic bronchitis and cellulitis caused by scratching a mosquito bite.
I've taken medication advice by trawling the internet and at 75 years of age I continue to do so. 😉
AND THAT SOUNDS AWESOME AND IF ANTI-BI OR PAIN KILLER IS NEEDED WHERE AND HOW DOBWE GET THAT?
5 years ago I came to Thailand. I also decided to self insurance. You mention paying 33,000 for 9 years, you did not allow for the fact that the yearly premiums increase a lot with age. If you insure you may find that at age 80 that you do not have enough money to pay the yearly premium. I also think that Thai government hospitals are OK. I think you made the right decision.
Seriously ? I’ve been in a few with my in-laws ,, I would rather die than go in any of them 😂😂 remember Graham Briar and how his gov hospital op turned out
Thanks for this vlog , it's something I didn't think I could do , self insurance is a great option . Thanks.
With my health history I could never be insured. I am a Disabled Vet and fully covered by Veterans Administration - I am Retired Army and fully covered under TriCare for Life. Problem is they are in US. Reason that we come for 3months each year. Also soon will be 77. I really like your in-depth explanation. Think best for anyone is open a Medical Savings Account and pay yourself the 40,000 Baht each year. I have had several major surgeries and have seen the Claims submitted - The per day hospital bills would bankrupt just about all.
Yikes that's tough. Sorry to hear of all that :(
Peter, That was very interesting. Fully with you about skepticism about them actually paying out. I have been over here 21 years and there is a couple of things I would like to share with you if possible. I have insurance and it did pay out for me 2 years ago but I fully understand your position. Is there anywhere we can chat as if you are interested I have a couple of suggestions which I believe might help you. If not no problem but let me know if you want a 5 minute chat. I am based in Hua Hin BTW> Cheers. Not a salesman or connected to company, just long term resident like you.
Can you drop me an email I'm actually flying back to the UK really soon so it would have to be when I get back in a few weeks but my email address is peter@thailand-bound.com
Well said Peter, I agree. because even after you pay the deductible it could turn out expensive. Thanks
In any case Pete, as you stated (and in the live stream yesterday) this is not your advice, it’s about your specific experience and own decision making. But it will I’m sure stimulate others to give this some thought.
Great information and very informative Peter. I think definitely self insurance is the best option.that is what i would do 💯 %
You did the right thing Peter. I will do the same as you when I move to Thailand. Health insurance here in Ireland is a ripoff. Costing 2 grand a year. Self insurance is the right way to go
Misdiagnosed in Uk came to Thailand found I had brain tumour. In hospital six weeks in Bangkok after operation Dvt and Bell’s palsy. Excellent treatment but bill was £100.000. Unfortunately your 300,000 will go o where. Luckily I had BUPA and they paid. I am sure this is not an option for you and many people but you have to put more money away just in case. Good luck
I haven’t had medical insurance in 8 years ,personally I think it’s a rip off. Don’t really like doctors an$ never have . However I know than can save you in an emergency situation. However Peole should put as much effort into eating and drinking clean . Exercise a5 least 4 times a weak and do cardio I even if it’s just a two mile walk every day at a brisk pace
PS Shame we could not meet in Pattaya in Nov but looking forward to your UK streams when you are back in the UK, be just like ole times! take care chap.
good job, thanks Peter, a friend did the same in Vietnam, he proved to me it was the best way to go regarding expenses, and he had open heart surgery in Saigon, he was in his late 60's from Sweden on a bus drivers pension, I to am 63 and have all the current ails that you mentioned, but I do intermitten fasting which has all but negated them, sadly you have to give up whiskey to help it along for awhile, I would like to go to Thailand and live, could you do a program on obtaining organic vegetables, olive oil, and meat, I would cook myself as to be sure that no sugars are used to much, I beleive in salt, pepper and lots of good oils for flavor
I'll never forget this energy company wanted me to invest with them. After reading the contract I found everything in the contract was designed to protect them and little if nothing to benefit me all the way from me not getting any of my initial investment much less a return on the investment. They asked why I wasn't interested and I laughed and hung up the phone. The point is you must be very careful about contracts, especially insurance companies.
I had worked for some 25 years here in Thailand. The companies I had worked for paid for my insurance policies. On retiring I kept up my policy with the insurance company I had used for those years! They had a 'TREND as per my health and information on any claims made (none). I decided to buy IN PATIENT only, NO out patient I will pay for that as and when needed. I was able to negotiate with the company as per my current health. The agent has known me for years! I don't smoke and have never claimed for anything. I eat correctly and exercise and run daily! My current policy cost me about B39,000 for the year! I am 71 years of age. All's good and anyone who has no 'history or trend' with an Insurance company will not get favorable rates when starting! Start as early as you can! It will save you money as you age!
New subscriber..great video!
Welcome to the real world around us who have so many regulatory protections in throughout much of the western world!
But, on the other hand, our regulations spike up costs of insurance companies which, in turn, make up for the losses in other parts of the world. Many of the corporations have global ties, even if they appear local.
This is a real eye opener 👍
Self-insurance is the way to go.
I had issues with the same insurance company when it came to paying out. They eventually did but it took 3 -4 months. They tried everything not to pay. The reason I had the insurance was so they would pay the hospital. I had to pay the hospital out of my own pocket and claim it back as they would not accept all of the hospitals treatments. I did eventually get around 90% back with them refusing to pay a couple of tests.
One piece of advice I would give regarding your 300K in the bank for self insurance. If you got to the main two well known hospitals in BKK you will burn through 300K quickly. There are other private hospitals in BKK as good and much cheaper. I would advise researching the hospitals and confirming the hospital you want to be taken too.
I used a hospital in Chonburi(close to where I live) which was not one of the big names. Treatment was professional, the room, food and service was excellent. Costs were very good compared to the big names.
One good thing about dealing with this insurance company is they gave me a list of hospitals which are far cheaper than the main ones in town but just as good
@@ThailandBound That would be worth sharing here! Do you have a Discord channel? It's an easy way to share stuff.
, brilliant advice there Peter thanks, we are moving to Thailand next year on a retirement visa and will probably do as you said
👍
Best of luck!
I have just retired here on a OA visa and one of the conditions (this was applying from Australia to the Royal Thai Embassy in Canberra, not sure about other countries) was that I had to have insurance with a Thai company which covers you for 3 million THB. When I arrived at the airport everything was fine but they wanted to see my insurance policy which obviously I had. If you have any doubts email the Embassy in your country and ask them the questions, they are very helpful. I also asked if I had to get a return ticket as it was a retirement visa and they wrote back to me and explained it wasn't a requirement. I will certainly think about Peters idea for next year about self funding kickoff with a budget of 1,000,000THB and add to its monthly as he suggested. Thanks for the video Peter very informative.
Hi, Peter I think that's a good idea but do you think that £7,000 ~ £10,000 is going to be enough, I know it's Thailand but that's not a lot of money for some hospital procedure's.
Please read my comments about
Self-Insure is a viable option but not by setting aside 300,000 baht. That’s a real low-ball figure that will definitely not be sufficient if you have any serious issue. 30,000,000 baht more like it…
That was in the early days I've now got a million baht put by
The fact of the matter is, I'm finding it very difficult for any insurance company to cover me for pre-existing conditions. The one or two that will load up the policy costs so much that I can't afford it
That’s tough matey… apart from that issue you would advocate buying medical insurance … it totally makes sense … pay $1 premium gets $200 insurance payout… looks like really awesome odds …
Hello, I know your not naming names, but is this a Thai or an international company?
The questions are ridiculous, I've been in hospital several times when I was younger and have no real recollection of when and where. My parents are long gone theres no one to ask.
Sorry I'm not even going to hint because of the very strict liblelis laws here
@@ThailandBound fair enough, I remember the case of a 1* review a few years ago. Hope your enjoying your time out there.
I am living in Lao as there is no insurance or bank deposit requirment to live long term. I am 76 and so self insurance is the only option as I only have the state pension to live on. Insurance is a scam espetialy if your health is better than most people (I take no medication for anything). So the leasten I think is look after your body and you are likly to check out after just a few days of illness (as both of my parants did).
I had an almost identical experience with the same company. The list of exclusions was so long, it hardly left anything else to cover. I did go with an alternative company for 1 year, unfortunately during that year had an hernia repair, which they did reimburse me for, but did not offer any cover thereafter!!! So also now self insuring.