Recently, my girlfriend’s mother said it was time to pay her health insurance…all $70,000 worth! My girlfriend’s family has been paying it for her for years, but we (being adults) can’t really let that continue, so we’re going to pay it. Yet, $70,000 is a huge some for us.
My problem, though, is that I don’t even understand it. Isn’t there national healthcare here? My girlfriend’s tried to explain it to me, that this is some sort of deluxe thing that will, if I remember correctly, pay your salary for days missed if you get really sick. Is there anyone who can lay this out for me in plain english. Is anyone familiar with it? Is it necessary?
I have something similiar to this. It covers the cost of your salary that you lose due to illness. Mine also will provide my wife with a sum of money should anything happen that results in my death. I don’t have to pay mine all in one go though. I pay 4300NT a month. Would be lower, but I’m over the skinny as a twig weight limit for the premium rate. They also cover your hospital bills in certain cases, such as major operations and what-not.
A lot of the insurance products in Taiwan are combined medical, lost income, life assurance and so on. I paid and still pay £100 a month for medical insurance from a London firm for myself and the good Lady wife. Our lives are insured separately, another 30 quid a month. Hers is worth more than mine, naturally…
I looked into this recently, and the insurance salesman offered a package costing around $56,000 annually, which combined life, accident, health, lost salary, and so on. But you can buy any amount you want; the packages can be tailor made to your needs and budget. The cost also is higher if you’re older or in poor health when you purchase it, so chances are that’s why hers is so pricey.
Were you a resident or non-resident in the UK or Ireland when you got this policy ? I tried BUPA, VHI and a couple of more in Ireland for income protection, life insurance and medical insurance; but they were not interested as I am a non-resident
Were you a resident or non-resident in the UK or Ireland when you got this policy ? I tried BUPA, VHI and a couple of more in Ireland for income protection, life insurance and medical insurance; but they were not interested as I am a non-resident[/quote]
I was not a resident in the UK/Ireland and they were fine with that. In fact they wouldn’t cover me if I had been. It was for expats only. (Still covers you in the UK though, just not if you reside there.) BUPA should be OK. Lots of blokes over here in the Glorious Motherland I know are with BUPA (very expensive). I am with Goodhealth. PM me and I’ll give you the name of my broker in London. She’s been good so far. There are lots to choose from. William Russell, er, and Ultrasomething…
But I only have the medical thing. I have term life insurance from Legal & General, but that was bought whilst I was in the UK. They do cover people abroad though.
Don’t bother with companies in the US. It’s very strange buying expat insurance from over there and comedy money and you get nothing for it. I just stuck with the London firms.
Me and the wife pay a bit more than that much each, too. Same as above – death payout, lost earnings, long-term hospital stays, disability, etc. We also have another, which costs considerably more than that, but it’s more like a savings/investment plan, although there are some kind of insurance perks on that one, too. So your wife’s doesn’t sound too bad to me. You’d be well advised to get some for yourself, too.
It’s not unheard of; a lot of insurance plans cover a lot more than just life and medical. As mentioned there are a number that are investment plans, as well. I looked at one that was a 20 year term, with coverage for life and a NT$500k to $1 million disbursement at the end of the term. The idea is health, life, savings all in one package.
You might check to see if Taiwan has a “First to Die” package. It’s a joint life policy and you usually don’t need to insure both husband and wife as there will be enough money to take care of the child and one (or no) parent. It’s enough to get the survivng spouse through the partner’s death and get the younguns raised. Usually it’s a set monthly premium but it could be annual.
These policies tend to be much cheaper than insurring both spouses because, obviously, the company is only at risk for one life.
I will be living in both USA and Taiwan, travel back and forth so I am wondering which country’s health insurance I should get(medical, life, accident)? USA it’s much more expensive but better I think, and Taiwan got it’s perks too so anyone???
Ironfist -
Thats a mighty tuff question. I have been pondering that one for 3 + years now.
There are pluses on both sides. So much has to do with finding and establishing a relationship with a 'Good" Doctor here on Taiwan. I have been fortunate to do so…but it took time and persistence.
I have heard many sad stories about mis-diagnosis and wrong pharmaceuticals proscribed here on the island. I had a very bad reaction to a very common cholesterol lowering prescription here. Fortunately my Dr. worked with me with testing and we were able to quickly, within a matter of days, able to isolate and establish a direct link to the meds as the problem. I am thankful for finding such a physician.
Good luck.
ya I heard a lot of horror stories as well, mis diagnosis then many problems, hospital or DR doesn’t want to admit fault, go to court then the sentence isn’t even that bad they just walk away etc etc.
Could someone point me in the right direction for getting hooked up with some health insurance, preferably the ‘adjustable per your situation’ kind? My Taiwanese wife has the local NHI bit, but I’ve been somewhat negligent in getting myself hooked up with a plan of some sort. I know, it’s not smart going without. Suggestions? Advice? Where to start?
hi guys I am going to move back to the states like in a year, but will come back to Taiwan once awhile and do you guys think that keeping Taiwan insurance will be a good idea? when I am living in the states? insurance company said it’s no problem but you know how they are. IF I get sick do they just call the company to see if it’s covered? I don’t have to come back to Taiwan to show receipts do I , how does it work.
I just saw sicko, pretty interesting documentary about insurance companies in the states, highly recommended
Last year my wife and I signed up for something similar, life insurance, saving, etc. Some of the money we pay is invested in the stock market, others in other forms of investment. I got a chart showing if I die at a certain age how much my wife will get, somewhere around here have to find it.
Tainancowboy I am thinking about just get the insurance from Taiwan, and then couple years later I am going to move back to the states, and keep on using the Taiwan insurance, they say they are ok with that. I just need to keep the receipts and if it’s pretty serious they will send people over to take care of things. I might do that I will see.
Is there an age cut off for private insurance? I am in my early 50s but have been in Taiwan since my 20s.
I just had a brief hospital stay and the staff seemed to assume I would have a private plan, perhaps because I requested a single room. The charges for meds and the room for two nights was $6500 above the NHI coverage. I actually don’t mind the supplemental payment – seems fair and I think the NHI is great, all in all. But I worry that if it the private insurance becomes expected, these costs will increase disproportionately over time. Opinions?