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  • Covid-19 Insurance for Foreigner

    COVID Insurance for Foreigners in Thailand
    With Thailand very slowly reopening to visitors, one of the latest requirements for visitors is the mandatory COVID-19 insurance plan for foreigners that covers the traveler for a minimum of $100,000 (the Thai policies generally cover 3.5 million Thai baht). In addition to all the requirements, the traveler needs to obtain a certificate of entry (COE) and a valid visa. This health insurance is another level of security to make sure that the traveler can cover all costs in case they are diagnosed with or die from COVID-19 during their stay in the kingdom. Thai immigration officials are notoriously fastidious when it comes to paperwork, and will only accept policies from certain providers. Luckily, a consortium of insurance providers in Thailand offers COVID-19 insurance for foreigners planning to visit Thailand which will be accepted by immigration, and these policies can be purchased easily online. Although this could be seen as another opportunity to make some easy profits for the insurers the policies are quite reasonably priced, depending on a few factors; let’s take a closer look.

    Why COVID-19 Insurance Is Required?
    Whilst it may seem like just yet another hassle for beleaguered foreigners wanting to enter the country, there is good reason for the government to implement this requirement. One of the main reasons is that almost all standard health and travel insurance policies will not cover the insured against pandemics, hence will not cover you for anything to do with Covid-19. And with the costs of hospital treatment and possible repatriation, especially when considering the additional quarantine requirements to do with COVID-19, the Thai government is concerned about being lumped with a huge number of unpaid hospital bills from foreigners who come down with COVID-19. The public health ministry of Thailand has quoted a figure for unpaid hospital bills of 448 Million THB for the year up to September 2019, a huge sum. And with the threat of the coronavirus, they are concerned about this and don’t want to be stuck with another huge bill right when the economy is struggling because of the effects that the virus has had on tourism and exports. In essence, the requirement to hold one of these policies is an additional layer of security for the Thai government who is already dealing with a hammered economy as a result of the outbreak and subsequent decimation of the tourism industry which provided around a fifth of the country’s GDP.

    What is the COVID-19 Coverage?
    The COVID-19 insurance policy will cover the costs of isolation, quarantine, testing, and treatment, and the possible costs of repatriating your body in the unfortunate circumstance of you succumbing to the virus whilst in Thailand. It will also cover the cost of any medications prescribed to you as a result of being infected with the virus. The more comprehensive policies will also cover you for any losses incurred as a result of you catching COVID-19 such as lost travel bookings and trip cancellation or curtailment, be sure to check the small print of any policy before purchasing and, as always with insurance, don’t just opt for the cheapest policy. Ultimately, most of these specialized insurance policies will comprise of three key components:
    • Medical coverage. As mentioned this is a comprehensive package with a cap of a minimum of $100,000, covering all treatment costs associated with being infected with the COVID-19.
    • Life insurance coverage. In an unfortunate circumstance of the insured dying from their confirmed COVID-19 infection, this covers them for a total of $100,000 which will be paid to the beneficiary stated in the policy.
    • Any additional, unforeseen out-of-pocket expenses that arise as a result of you being infected with the virus. This could include lost travel bookings, flights, or any other expenses that arise from travel disruption or curtailment because of you becoming infected with the virus.
    You must ensure that you retain the certificate of insurance as this will need to be shown to prove that you have the coverage, without it, you will not be granted entry into the country. Also, it should be noted that this policy will be in addition to any general health insurance policy that you may require to obtain your visa or retirement extensions.

    COVID-19 Travel Insurance Provider
    Unlike the mandatory health insurance for retirees, the COVID-19 insurance may be provided by an international insurance provider or by Thailand-based insurance providers. The cost of treatment for COVID 19 in hospitals in Thailand ranges from 700 US$ to 1,000 US$ per day, depending on the hospital. There may also be additional costs of staying in the intensive care unit (ICU). For foreigners who are positive for COVID-19, the cost of treatment and other medical expenses will be covered by the travel health insurance package. It is important to make sure that your insurance for Thailand covers the whole duration of your stay. Therefore, it is essential to purchasing the best and reliable COVID 19 travel insurance for foreigners entering Thailand.

    How To Purchase COVID-19 Travel Insurance?
    This insurance is required to be allowed into the country so you will be purchasing this before you travel. The easiest way to buy your policy is online from one of the above providers who will then provide you with the all-important certificate of coverage to present to the authorities when you arrive (and you will also need to present it to the airline before they will allow you onboard). It’s quick and easy to do online, and you can choose your length of policy from 30 days to one year. Be sure that the policy covers the entire period that you are planning to stay in Thailand or you may be refused entry.

    COVID Insurance Thailand Cost: Is It Expensive?
    In a word, no, but it depends on a few factors. Although this is yet another burden and expense for foreign citizens trying to enter Thailand, it’s quite affordable. You can expect premiums to start from as little as 4,000 THB for a 30-day policy. For the tourist visa or the non-immigrant visa application, the 90-day insurance coverage will cost 8,000 THB to 14,000 THB. As with all insurance policies, the premium will be determined by your circumstances, in this case, one of the most important factors is whether the country you are flying from is considered to be high or low risk for the virus.
    Last edited by Paul; 08-31-2021, 08:22 PM.

  • #2
    Tune Protect (USD 50.000 Coverage) from 2.276 THB Website
    Tune Protect (USD 100.000 Coverage) from 3.000 THB Website
    AXA Insurance from 2.700 THB Website
    Luma Insurance from 3.100 THB Website
    Safety Wing from 1.377 THB Website
    ACS Insurance from 2.410 THB Website
    Last edited by Paul; 08-31-2021, 08:20 PM.


    • #3
      AXA Insurance | Sawasdee Thailand

      This is a comprehensive travel insurance that includes health coverage for foreigners who are traveling to Thailand. It is made to make your preparations for traveling to the country seamless and trip worry-free from beginning to end. AXA offers up to THB 3.5 Million ($100,000) of medical expenses, including COVID-19 related medical expenses, which meets the Thai government’s insurance requirements for the COE. AXA will support visitors whether they are here for leisure, visiting family, work, and other purposes.

      AXA Features:
      • The insurance policy for 30 days is available for as low as 2,700 THB.
      • AXA is one of the top insurance companies in 2021. The policy is solely underwritten by the company itself.
      • Just in Thailand - the company has 19 branches that support customers in case of questions and claims.
      • If the Thai embassy or consulate rejects the application due to insurance rejection, you can get your money back.
      • At hospitals, the insurance company provides cashless claims to all inpatient treatments, not just the COVID-19 type of emergency.
      • Flexible insurance options for 30 days, 60 days, 90 days, 180 days, 270 days, and 365 days.
      There are other reasons why AXA is convenient for your travels. Here are some of them:
      • The insurance meets the requirements for the Certificate of Entry (CoE) application.
      • You receive the insurance policy and COVID-19 certificate instantly by email.
      • You can purchase the insurance online with a credit card.
      • The company provides a 24 hours hotline service in English.
      • The policy has no waiting period and no deductible.
      • The company has a large hospital network throughout Thailand.
      • No advance payment for hospitalization.
      • The insurance includes the 14-day Alternative State Quarantine (ASQ), also Alternative Quarantine (AQ) and the Sandbox Option.
      • The insurance coverage will start immediately after clearing immigration in Thailand.
      Last edited by Paul; 08-31-2021, 08:27 PM.


      • #4
        LUMA Insurance | Thailand Pass

        LUMA Thailand is trusted and recommended as travel insurance of choice. Now, you can enter Thailand with full confidence. Choose the travel insurance plans designed to meet the requirements of COVID-19 Insurance for foreigners who want to visit or travel to Thailand during the COVID-19 pandemic. It literally fits the current situation as it would take care of both travel accidents, medical expenses and guarantee with COVID-19 certificate to apply for Thai Visa, certificate of entry, and entry to Thailand.

        Highlights of Coverage
        • Cover up to 3.5 Million THB (equivalent to US$ 100,000)
        • Choice of period from 30, 60, 90, 180, 270 and up to 365 days
        • COVID-19 Covered
        • COVID-19 Insurance Certificate Provided
        • Satisfy Thai Immigration Requirement
        • Coverage starts immediately upon arrival in Thailand
        • Premium starts from 3,100 THB
        Easy to apply via an online portal and able to receive a COVID 19 insurance certificate within 5 minutes. Plans can be purchased online using a credit card and once payment is completed a COVID 19 insurance certificate of coverage will be sent via email allowing the traveler to apply for visas and enter the Kingdom of Thailand.



        • #5
          Thai insurers suspend COVID policy sales due to specious claims

          Insurance claims over popular COVID-19 insurance policies in Thailand have grown tenfold since last year, prompting insurance authorities to launch investigations into possible fraud. The Office of Insurance Commission, the country's insurance regulator, has warned on its website it is investigating possible insurance fraud after seeing COVID claims soar. As of end-April 2020, when Thailand began witnessing a third wave of the pandemic, the number of COVID-19 policyholders stood at 13.8 million with total premiums of 5.9 Billion THB, according to the OIC. COVID-19 claims for the month jumped to 1.7 Billion THB from 170 Million THB the previous year. Analysts attributed the rise in COVID-19 claims to the pandemic-battered Thai economy, which has seen people hit so hard that they deliberately risk infection to receive insurance payouts.

          With suspicious claims rising, some major non-life insurance companies have stopped selling COVID-19 policies. Bangkok Insurance announced on its website that had stopped selling policies on June 29 while Viriyah Insurance stopped on June 30. The Thai General Insurance Association - which comprises all 56 non-life insurance companies in Thailand - is warning people against deliberately becoming infected with COVID-19 in order to claim compensation because they may face fraud charges. The warning comes after several viral social media posts showed families celebrating after receiving payouts due to having contracted the virus.

          There is even a young lady selling inhalers on her Facebook page that she says contain the coronavirus," said a senior official at the OIC. "Buyers can use the inhalers to get infected and then claim compensation. That's why we need to issue the warnings. They not only risk catching COVID but also risk breaking the law."
          When COVID first struck Thailand last year, several insurance companies started to offer non-life COVID-19 insurance policies. Customers could buy 100,000 THB to 300,000 THB of coverage for only about 500 THB a year. The insurance companies now find themselves not only covering claims for legitimate people suffering from the virus, but also the economically desperate who purposely catch the deadly disease to collect money.


          • #6
            Thailand’s finance ministry closes 2 insurance firms, Covid-19 claims

            After an overwhelming number of Covid-19 claims caused two of Thailand’s insurance providers to owe billions of baht in compensation, Thailand’s finance minister has revoked the providers’ business licenses. The decision was made effective yesterday.

            One provider, Southeast Insurance, owes 13 Billion THB in compensation, while the other, Thai Insurance, owes 4.6 Billion THB. The Secretary-General of the Office of the Insurance Commission said the insurance reserves and capital funding ratio of the two firms are below the legal minimum. He said the firms now have more liabilities than assets, and have unreasonably delayed compensation payments to their customers. He also said they have failed to record compensation payments as required.

            The secretary-general added that the OIC has been trying hard to solve the firms’, but hasn’t been successful in doing so. He said the revocation of the licenses will affect only the COVID-19 policy holders, while other life and non-life insurance policies have been transferred to other providers.

            The secretary-general said the OIC and the General Insurance Fund will be responsible for compensation payments of outstanding claims for the two companies. The OIC has set up advisory centres to receive complaints and facilitate debt repayment requests.

            The OIC will let customers of both companies bring documentary evidence to the commission and file for a claim. After receiving a request, the OIC will pay for claims using reserves from the General Insurance Fund, according to the regulator.