Sunday, September 5, 2010

Do you have health insurance? What about car insurance?

My health insurance is from BUPA, a one year coverage renewable annually relative to my work contract. Among the fifty+ employees of this small institution where I work, I enjoy the health insurance benefits of 500baht deductible to my hospital bills every appointment. But that does not include toothache and food poison. Funny. Of course, the remaining hospital bills would be from my pocket. When I get hit by a speeding car and die before my contract expires, my beneficiaries would receive 50,000baht - although I wonder who would they be since I have not signed any paper that identifies them. Not a handsome sum, sure, but must be better than nothing. When I attended the orientation about BUPA, I was thinking "Is this patterned from other Business Insurance?"

A health insurance such as mine is an example of group health insurance rates. It is a health insurance written for all the employee, a master policy that is issued by my employer, the institution of which I am affiliated. There is a great advantage for both the institution and the insurance company when the deal is group health insurance. The institution can choose for a program to purchase, the employers can either seek for the cheapest most affordable program or seek for quotes that are most likely needed or appreciated by the employees which, of course, would cost more. On the side of the health insurance, they can check the health status of all the employees and if there is one that is at risk of expensive medications, they can charge for a higher quote which eventually is divided among all the employees. But since most of the employees are healthy, the insurance company can sit back a bit and relax. Probably, just probably, no one would get sick this year.

On the account of insurance, not only is your health the subject, of course it also includes all the important properties that you own. That as well includes your car. However, unlike health insurance where there are group rates, the young healthy worker pays a much and receives as much as the old dog with heart issues, I doubt if it applies to cars. But since in most States and European countries car insurance is obligatory, car owners must then be aware of the best Netquote business car insurance that is available in town.


1 comment:

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