People tend to underestimate long term risk and overestimate short term risk.
Best Posts in Thread: Over Age 70
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Pacific Cross offers insurance for seniors, their Blue Royale Premier product.
It's not cheap though, at age 70 you'd pay 9,300 US$ per year for their "Standard" product, and 3,500 US$ per year for "Major", with an optional rebate up to 40% if you agree to a sizable deductible.
Premiums go up as you get older. 13,000 US$ at 75, etc.
Brochure available here
Obviously, nobody wants to insure a house that's already on fire, so you'll need to answer a whole bunch of questions in the application form.
I would also think that with customers getting insurance with them at a rather advanced age, the risk of getting into discussions about whether some medical problem was "pre-existing" at the time of applying seems rather large anyway.-
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Last edited: Oct 19, 2020 -
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danbandanna DI Senior Member Veteran Marines
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The question seemed to be about what should be saved up for treatment within the region. If you plan on being treatment locally you had better have a good chunk of change saved up. I certainly will never donate cash to an expat's medical bills again and I suspect I am not alone on this. If you want to live overseas you shouldn't be a burden to anyone except those that chose to be with you and you shouldn't be asking for handouts. P4 million is a reasonable amount of money to have saved up for medical expenses if you wish to stay local/regional and have a chance at living a long life.-
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john boy DI Forum Patron
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Anybody with on going medical problems or previous major health issues would be advised to have a back-up plan.
Chances are that anything major goes wrong, it would be a further risk, just to travel back home for treatment. Stay healthy folks.-
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My point is that if you are expecting advanced health care in the order of P4 million you should probably look elsewhere because that level of advanced care is not easily found here.
Anyone from a first world country with P4 million extra should consider maintaining quality health coverage in their home country. There is insurance available for air ambulance services. Get stabilized here and then get back home for the rest.
On the other hand most expats here do not have P4 million in cash lying around so this aspect of the conversation is moot.-
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Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer
I also read, related to house insurance, a denial of claim because they investigated the house and found an old repair within the ceiling, done before the claimant bought the house and of which (being hidden within the ceiling) he was totally unaware.
I have money to repair my body if necessary - if it runs out then it means I am pretty bad, so I go home (where medical care will be free) or I expire and save myself any more suffering.-
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