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Life and Accident Insurance in Thailand

Discussion in 'Residing in Thailand' started by DavidUSA, 20 Oct 2016.

  1. DavidUSA

    DavidUSA Thread Starter Well-Known Member

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    Ocean Insurance is a reliable company in Thailand. My spouse worked for them for several years, and I was involved in helping several foreigners who needed assistance. I think their accident insurance is very reasonably priced, and I know that they make pay-outs in an honest manner.

    Take the original documents of your life and accident insurance and put them all in an envelope, along with a cover letter than explains exactly whom to contact and how to reach the company in case of your death. Also, investigate the tax issues about the benefits, and explain those to your spouse in the cover letter. I once sat down and explained my insurance to my spouse. I think it is a good idea to do that because if it happens, your family will be set and know what to do. Having a will is important, and sticking that in the envelope completes the picture.

    If you are a foreigner living in Thailand, it is a damn good idea to have accident insurance too.

    Investigate and get all of this stuff set up for the benefit of your family. In Thai culture, there are going to be a lot of immediate financial demands upon the family following one's demise. Having insurance in Thailand and in one's home country is also a very good idea.

    It might be an uncomfortable topic, but it is one of those things we need to take care of.
     
    Clown, Mati and sirchai like this.
  2. Clown

    Clown Well-Known Member

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    Hell yeah. About 70 minutes ago, a tricycle-Riksha-grandad riding without lights and cats' eyes on his public transport vehicle caused several bikers to go down. I managed to hurt myself despite wearing full protective gear from a big bike trip.

    Having no insurance through the government institution I work for is bad, too.

    Seems these guys need no license plates on TukTuks either? I saw over 100 motorcycles with no license plates last weekend. And when such an uninsured motorist caused an accident which resulted in a broken finger, the cops ignored the issue and the guy paid the hospital bill. (Don't try this in the UK).

    These old men cycling keep causing traffic jams in my small town.
     
    Last edited: 25 Oct 2016
  3. sirchai

    sirchai Well-Known Member

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    Sorry, to hear of your misfortune. I guess you're working for a Thai school?

    Government schools have to be registered at the local SS office.

    I had the same problem when I started at my current school 2.5 years ago and the director then promised me two times to register the school, but he never did.

    10 Thai teacher assistants and three foreign teachers had no SS until some guys from the office showed up and made it very clear that the director made a huge mistake by not registering the school.

    We foreigners were called to a meeting and they're trying to find ways, including creating new contracts ( how stupid) that it looked like we'd just started. But I always had a work permit and the right visa.

    No idea how much he finally paid, but the law's clear and he'd have had a lot of problems, including paying the SS for the whole time we were employed, plus a hefty fine.

    He found a cheaper way. Get well soon. Cheers.
     
  4. DavidUSA

    DavidUSA Thread Starter Well-Known Member

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    Get some good health, life, and accident insurance, and tell others to do so too.

    The basic point is that you must have health and accident insurance and the ability to get to a real hospital if you are going to live in Thailand. Anything less is risking your life. One would think that Bangkok has some decent medical care, somewhere.

    I am not in the mood to go into the stories, but for regular Thai people, a life-threatening illness means taking pain medication and getting ready to go to the temple. I have seen it with my own eyes. That is not 10,000 Baht a life. That is zero.

    As I said before, Ocean Insurance offers policies that make sense (health, life, and accident) and are affordable for most Thais. The company is partially owned and managed by a Japanese conglomerate.
     
  5. DavidUSA

    DavidUSA Thread Starter Well-Known Member

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    In case anyone wants ballpark figures on the Ocean Insurance Investment/Insurance Plan:

    For someone who is 52, you pay 11,000 each year. After the 15th year, payments stop. At the 20th year you get 166,000 Baht. During the whole period you are covered for over 400,000 Baht for a severe accident, and your benficiary gets about 160, 000 Baht if you pass away due to illness, etc. For exact costs and benefits go to an Ocean Insurance office, or perhaps you can find it on the internet.

    Money always comes in handy, and 72 is just around the corner! Twenty years goes fast. I am going to sign up the next time I roll into Thailand.
     
  6. bahn_farang

    bahn_farang Well-Known Member

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    So 67 the payments stop.
    72 you get 166,000 baht
    Have an accident you are covered for 400,000 baht
    If you die you loved one gets 160,000

    I have this straight?

    It is certainly worth thinking about for those approaching the September of their lives. For me....

    I most likely will die before I am 67.
    72 I will be certainly dead.
    If my loved one can buy anything with 160k in 20 years it would be most likely to be a Mars bar
     
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  7. sirchai

    sirchai Well-Known Member

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    Please don't be too pessimistic now. 160 K in 20 years might get you a noodle soup. :cold
     
  8. OxfordDon

    OxfordDon Well-Known Member

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    I'm really not sure about this one...

    in Thailand, as in the UK, most specialists in private hospitals work their "day jobs" in government hospitals; different government hospitals have different specialisms; some government hospitals have facilities or treatments that you cannot find in private hospitals (though hospitals are always leapfrogging each other wrt services provided).

    The problem with being sick is, well, you're sick, so you don't feel great to begin with; and if you can't explain your problems or symptoms to the doctor because you don't have the skills to speak his/her language, then you feel even more vulnerable; if the system is different from home (which of course it is) then you feel twice as vulnerable and disoriented.

    A few years ago I made a fairly large deposit with one of Thailand's oldest financial services organisations. I did this because of the high rate of guaranteed return. A month or so afterwards I discovered that they had bundled health and accident insurance into this deal; it's one of their top insurance schemes and would otherwise cost me around 30,000 baht per month - yup, the "standard" foreign government teacher salary here. Thailand does have mysterious ways compared to ours, and they ain't all bad.

    PS. Am I the only one here who can remember the good old days of the UK NHS, where everyone was smoking, including on duty nurses? And now the best place to get sick in the UK is in hospital (thanks to massive outsourcing of services I'm told!)

    best thing in any country.... don't get sick!
     
    Last edited: 27 Jan 2017

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