Best Posts in Thread: Over Age 70

NowandThen · Oct 23, 2020

cabb said: ↑

I'm guessing the problem here is with "saved up" and "laying around" being synonymous. Essentially, I think in either case both of you two are meaning the same thing and that is easily accessible funds to use for medical needs. Can you add some color to what you mean by "saved up"? Having $80,000 USD does seem like a large sum and it seems like many expats move to places where their money goes farther because they don't have a lot of it. Are many expats living hand to mouth? Medical insurance whether an expat or an early retiree has always been a major consideration for me.
Click to expand...

For myself I would only use medical services in Dumaguete for an urgent treatment. And of course in such a case you need cash. But other than that, no thank you. I know too many stories what went wrong in the local hospitals. OK, some guys were lucky. But I wouldn't take any chances.

Gesendet von meinem SM-N950F mit Tapatalk

SkipJack · Oct 22, 2020

Rye83 said: ↑

You still need treatment once you land. If American, like myself, you are better off going somewhere like Thailand for treatment. If you are from a country that at least pretends to care about its citizens and offers universal healthcare then I suppose you could get away with less.

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.
Click to expand...

I agree that one should not become a burden on others. Particularly outside their home country.

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.

Notmyrealname · Oct 20, 2020

Dutchie said: ↑

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.
Click to expand...

Great post - insurance companies do everything they can to avoid paying out. If you miss out one previous condition, even if very minor and seemingly unrelated to your claim, they will use it against you. A previous undisclosed very minor knee injury will be used to deny a heart claim, as I have read.

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.

Log in or Sign up

Dumaguete Info Search

Best Posts in Thread: Over Age 70

NowandThen DI Forum Adept Restricted Account

SkipJack DI Senior Member

Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer