If you have just moved into a new property, then now is the right time to completely re-assess your strategies when it comes to insurance. Yes, making sure you have home and contents insurance should be a priority, but looking at other key insurances for Thailand should feature highly in your to do list also. Perhaps the most crucial insurance that you need to assess is that of your health.
Many expats in Thailand are covered by health insurance policies which do not provide value, or in many cases adequate cover. Why take risks with your health? At Seek2Insure a large part of our work is helping our clients to assess their current plans, pointing out both positives and negatives of their current arrangements. Whilst going through this process, getting our clients the best value products is paramount. When examining your health insurance provision, we recommend our clients to ask questions of themselves – such as:
If I get sick, can I afford to meet the costs once my insurance policy is maxed out?
The chances are the answer to this question will be ‘no’. Especially when considering that bills for serious issues at international hospitals can run into the millions of baht. This can include treatments relating to cancers, heart attacks and surgery, road accident issues, and serious fractures. If you do not have millions of baht sitting in an account, then making sure you have a policy which would cover these scenarios is a must. If you buy a policy which has a maximum limit of THB 500,000 and the final bill is THB 2,000,000 then you will need to meet the difference.
If I become ill, will I want to stay in an international hospital or would a local hospital suffice?
If you were admitted to hospital for an extended length of time, then the chances are you will want to be in comfortable surroundings and treated by nurses and doctors who can speak English and are familiar with expatriate patients. International hospitals in Thailand offer fantastic care for expats, but this level of care comes at a cost. A decent policy will ensure you can stay in the best hospitals. If you cut corners with your policy, you may need to settle for a local hospital as it will be all you can afford out of pocket.
If I am diagnosed with cancer, would I want to be treated in Thailand or would I return home?
Most health insurance policies in Thailand provide coverage for cancer, albeit at differing levels. If you would rather return to your home country in the event of being diagnosed with cancer, let Seek2Insure know. There are providers who have removed cancer coverage from plans to save on clients’ premium. Simultaneously, if you choose a healthcare policy in Thailand, it’s crucial you buy one that covers all levels of care including one which would meet the high costs of cancer care.
Will I want to be covered for all my medical and wellness needs? Or, do I just need coverage for the worst case scenarios?
If you are looking for full coverage for in and outpatient care as well as wellness (check ups and vaccinations) then there are a host of premium providers in the market. Yes, you will pay more for such a policy, but you will have the peace of mind knowing all your needs are taken care of. If, on the other hand, you are only looking to cover yourself for the worst case scenarios, an inpatient plan is likely to be the best solution.
Another issue that Seek2Insure witnesses on a daily basis is that of company employees who have been provided a company health insurance scheme. Unfortunately, in the vast majority of cases companies are very price driven when it comes to selecting a group policy. This means that, as an employee, you could be left in a dire situation if your policy fails to deliver in your time of need. It often takes a case of an employee not being covered properly for a company to realise the importance of providing coverage that meets the needs of the worst case scenarios. If you feel that your company health insurance scheme is inadequate, get in touch with us. We regularly work on ‘top up policies’ for company employees to compliment the plans they already have in place.
If you have any questions about your health insurance, or want a no obligation quote, please feel free to contact us at: [email protected].
