Are you covered?

When we were younger, we all thought we were 10 foot tall and bulletproof. We were wrong. Many of you have already found this out with cardiac conditions, diabetes, prostate problems and other medical conditions requiring hospitalization. You then found out that while private hospitalization is much more comfortable than public hospitalization, it also costs more.

Unfortunately, medical problems, medical treatment and private hospitalization are not cheap, anywhere in the world. In this country, there is no 30 baht scheme to cover the ex-pat. You have to shoulder your own costs and this can be quite horrendous if you are laid up for any length of time.

Of course, there are also those of you out there who will proudly say, “I never get sick!” and for you I sincerely hope that idyllic state continues. Of course, even if you do escape prostate cancer, lung cancer, breast cancer, heart attacks and strokes, there is still the chance of getting run over attempting the 50 meter dash across Pattaya Second Road’s “pedestrian” crossings any evening. The message is just that none of us are above the risk of ill health or injury.

The important word in that last paragraph is “risk” – that is what insurance is all about. You are minimizing your risk of financial exposure by contracting with an insurance company for them to cover your medical bills, which is in turn taking on the “risk” of whether you get sick or not. This is really high level gambling. They hope that you will pay more in premiums than you cost in medical bills, averaged out over the period of insurance.

Now the insurance companies do not go blindly into this agreement with you. They demand to know your current state of health and family history to work out if you are a “standard” or “high” risk candidate. That is, I believe, fair and equitable.

So what should you do? Well, I would suggest that you do as I have done and check with a reputable insurance agent! You cannot live without insurance in this country.