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Hospital insurance that won’t dump you at 80..?


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Another hospital insurance question.

Can any one comment from experience on the best companies who will continue cover throughout one’s life time.

What I mean is ....which companies will not dump you once you get ‘too old’....?

Any info always greatly appreciated..

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Mission impossible . 

     Insurance companies , are profit oriented .

      New clients , over seventy , with serious medical history .

      NO thanks ..

 

 

Edited by elliss
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'Pacific Cross' will cover you for life. At least, that's what they claim.

They covered me, starting at age 73, which is more than 99% of the other companies would do, and state that so long as I pay my yearly premiums they will continue to cover me.

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Many will 'guarantee' to cover you and not abandon you, but they will all jack up the price as you age, to a level they hope you will find unacceptable.

With no claims at all, Cigna increased mine by a factor of 3 when I reached a certain age. They said that I was now in a higher risk pool! Of course, as healthy lower risk clients refused to pay the extortionate increase, leaving their 'pool' full of unhealthy, likely claimants. Thereby proving the actuaries right. Catch 22.

I offered to succumb to any medical tests they wished but not interested.

I think there is a market globally for insuring older people (so many of us now -80k aged 100+ in Japan alone!!) -many would happily have a comprehensive medical (good idea anyway as you age),and pay for it themselves if that would get them cover.

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Moved to the Insurance forum.

 

All internationally-issued policies that I know of (i.e. company based in a Western country) guarantee lifetime renewal.

 

Some but not all Thai companies do as well - Aetna (provided yo uenrol by age 60) and Pacific Cross for example. But unless you need it due to having an OA visa, no reason to use a Thai company. Note that Thai companies can and will raise your premiums if you have a large claim or develop a chronic health condition (this on top of the routine age related increases). Insurance companies based in the west cannot do this.

 

You should mention your age as if you are over 65 that greatly narrows the options.

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On 9/22/2020 at 4:37 PM, Sheryl said:

Moved to the Insurance forum.

 

All internationally-issued policies that I know of (i.e. company based in a Western country) guarantee lifetime renewal.

 

Some but not all Thai companies do as well - Aetna (provided yo uenrol by age 60) and Pacific Cross for example. But unless you need it due to having an OA visa, no reason to use a Thai company. Note that Thai companies can and will raise your premiums if you have a large claim or develop a chronic health condition (this on top of the routine age related increases). Insurance companies based in the west cannot do this.

 

You should mention your age as if you are over 65 that greatly narrows the options.


 

Sorry I omitted my age...

Sadly....it seems....I’m 66 now.

 

 

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On 9/21/2020 at 11:13 PM, 4MyEgo said:

If your under 64 year of age David Shield do if memory serves me.

 

You can contact AA Insurance Brokers, they don't charge you and will find you what you are looking for.

 

If you want their details PM me and I will forward you their details as the have offices in Pattaya, Hua Hin and Phuket.


 

I’m 66 right now.

67 in March.

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21 hours ago, mikey88 said:


 

I’m 66 right now.

67 in March.

I think there will be very few willing to take you on board, that said, as I and Sheryl have mentioned, talk to AA Insurance Brokers, they will find the best one to suit your age and requirements, if you find the insurance is a bit rich, e.g. 100k baht per annum, then you might think about self insuring, that said, one claim could cost you in the millions depending on what is required if your unlucky, that said, for 100k baht + a year, health insurance is worth it in my opinion, peace of mind, can't have your cake and eat it to when your getting older, i.e. unless your prepared to pay for it.

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On 9/25/2020 at 4:56 PM, 4MyEgo said:

I think there will be very few willing to take you on board, that said, as I and Sheryl have mentioned, talk to AA Insurance Brokers, they will find the best one to suit your age and requirements, if you find the insurance is a bit rich, e.g. 100k baht per annum, then you might think about self insuring, that said, one claim could cost you in the millions depending on what is required if your unlucky, that said, for 100k baht + a year, health insurance is worth it in my opinion, peace of mind, can't have your cake and eat it to when your getting older, i.e. unless your prepared to pay for it.

Interesting comment 'Self Insuring'. How precisely do you go about doing that? I have often thought that we oldies (I'm 77) should be able to pay for a 'Bond' of say 400,000 for hospital treatment and say 40,000 for the outpatients that meets the requirements and if you have to use any of this  you are given say two months to top it back up. At least you wouldn't be paying the astronomical premiums year on year. I for one would be more than happy to do this and really don't know what I would do if they made it compulsory to have the insurances for the yearly retirement visa.

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2 hours ago, cheshiremusicman said:

Interesting comment 'Self Insuring'. How precisely do you go about doing that? I have often thought that we oldies (I'm 77) should be able to pay for a 'Bond' of say 400,000 for hospital treatment and say 40,000 for the outpatients that meets the requirements and if you have to use any of this  you are given say two months to top it back up. At least you wouldn't be paying the astronomical premiums year on year. I for one would be more than happy to do this and really don't know what I would do if they made it compulsory to have the insurances for the yearly retirement visa.

 

You may have missed @ #7 the original poster mentioned he was 66 and my suggestion to him was to: 

 

A) Talk to AA Insurance Brokers as they might be able to find him an insurer for life ?

 

and

 

B) If that wasn't possible then he should look at self insuring, e.g. if he couldn't get insurance due to his age, and to go off what the cost of a policy would have been for around his age (cut off point), say 100,000k baht plus a year.

 

He could then put that amount aside, e.g. let's say he put 100,000k baht aside a year and in 4 years time if he needed an operation, he would then have 400,000 baht to go towards that operation, be it could cost over that amount or under that amount.

 

I believe they do have compulsory insurance in place for those on the O/A multi-entry visa issued after October 2019, suffice to say if he was on that the insurance requirement would require he have hospital cover for 400,000 baht and 40,000 baht outpatient cover, however I have no idea of the cost. 

 

The original poster didn't mention what extension he was on, naturally I have emergency private hospital cover of up to 1.2 mil USA, and am a little younger than him at 60 years of age.

 

My understanding is that the insurer I am with with cover me till the day I depart this planet, but to be able to get that protection one has to join before they are 64, that said, no doubt the annul policy will increase every 5 year window, so I expect it will get more expensive as I age, at the moment it's about 200 baht per day and while I can afford the cover, I will keep getting covered, hopefully for another 7 years as I plan on returning back to my home country to receive the old age pension when I turn 67 and also get free medical cover through Medicare.

 

On the other hand, If I don't return, I will still pay to be covered here as I prefer the private hospitals. The other alternative for me is not to insure myself and my family for the 120,000 baht it costs us per year and put that in the bank (self-insure) and hope that no one needs emergency treatment/s for the period so as to save that money, I mean over 7 years that would add up to 840,000 baht, basically what it costs us to stay afloat her as a family of 6, but not having insurance leaves one wide open, example if one has an emergency in the 1st year and the operation costs 1 or 2 million baht, then one will never recoup the loss.

 

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