How to choose health insurance to meet the needs

Live without disease is a wonderful fortune. That most people wish to have. Because if we want to live a good and happy life Being healthy Without disease It is one of the important factors that will enable you to achieve those goals. However, no matter how well you take care of yourself, you can't be sure or guarantee that one day you will not get sick. Because the deterioration of the body is very common. Importantly, room fees, doctor fees, medicine fees are very expensive and cannot be negotiated. If you don't want to change your status until you get medical expenses, you should have at least one health insurance. Because health insurance will help pay off lightly If we get sick unexpectedly.

How should we choose health insurance?

To buy health insurance, what you need to consider is the medical benefits you have. Such as social security and medical benefits that the employer provides are enough for your needs or not. By calculating the cost of medical care if you need to use the services of the hospital that you use regularly. After that, compare with your existing welfare whether it is enough. You may consider purchasing additional health insurance in excess of your existing benefits.

However sometimes If gets sick with ordinary illnesses existing welfare may be enough to meet the needs. But if an unfortunate illness is caused by serious illness and is a disease that requires ongoing treatment and symptom monitoring Resulting in high medical expenses you may need to consider getting more serious disease insurance.

There are two types of health insurance available today: "single purchase" and " trailer purchase". With the "single purchase" form, the contract will be effective year by year. No need to buy a trailer with a life insurance contract. With consideration to every Year and the insurance premium will be cheaper. The "purchase trailer" is attached to the insurance contract. Which is considered as the main contract the contract is effective continuously under the main contract. And able to be purchased continuously not over the warranty period of the main contract. Therefore, when buying a trailer with the main contract You should choose to buy a main contract that has quite long coverage. At least to have an equally long coverage period with additional contract coverage. For example, health insurance with coverage up to 80 years of age, the main contract should also have coverage for at least 80 years of age so that we can continue to buy health insurance until the age of 80.

Single Health Insurance vs. Extended Health Insurance Life Insurance


Single Health Insurance

Extended Health Insurance

1.     Insurance premiums

Pay health insurance premiums only

There are 2 parts of the insurance premium which are life insurance premiums and health insurance premiums. The life insurance premium will depend on the insurance plan and the sum insured, which does not increase with age. While health insurance premiums will increase with age

2.    Coverage period and termination of the policy

Year-on-year coverage and a higher chance of getting a policy cancellation if the insurance company finds that the insured has a notification Claims that are not true Health statement in error or there is fraud in the claim

-The life insurance coverage will be long-term, depending on the type

-Health insurance coverage is on a year to year basis. But can continue to buy continuously if life insurance is still covered


Since a life insurance contract is a long-term contract and life insurance companies want to maintain their customer base the chances of being terminated with the purchase of health insurance are less. However, if you commit fraud, insurance claims or inaccurate health statements Life insurance companies can cancel the policy.


3.     Who is it suitable for?

People with limited budgets to purchase health insurance. And need full health coverage

- People who want both health coverage and life insurance plans at the same time.

- Would like to have lump-sum money left behind for the person or as savings for retirement

- Have enough budget to pay both life insurance premiums and health insurance premiums

Another consideration for buying health insurance is you should have health insurance that is properly covered since you are still healthy. The insurance company will consider the warranty. Because if you are sick, have an illness or have a medical condition at that time, if wanting to have health insurance Then there is no insurance company that will accept. Comparing, if you drive a car without you insuring then unfortunately accidentally drove into the car and have an accident. At that time, you wanted to get car insurance. Probably no insurance company would accept insurance Until you have finished fixing your car then come to buy insurance again. Likewise, health insurance is the same.

Therefore, the point that makes it difficult to decide to buy additional health insurance is in health insurance as a premium payment. 'Disposable type' year by year (like car insurance premiums). If in any year, you are not sick to the point of having to be hospitalized. It's like you have thrown away your health insurance premiums for free. Therefore, causing regret. But as mentioned above unexpected events that you do not expect to occur. Therefore, it is difficult for you to assess how much impact or loss will occur. You will assess the damage when it happened. At that time, if wanting to have insurance, probably wouldn't be able to get. Because the incident had already happened.

In addition, you must not forget that purchasing health insurance must use 'good health' only. If you are still young, you still have good health and still working in a company that you think has enough medical benefits. Therefore, makes you feel calm and think that you don't have to buy health insurance now and wait for the time to retire and then consider and make a decision again. It may not be a very accurate idea Because you can't know from today until the day you are nearing retirement. May be more likely to have certain diseases. And become a congenital disease, which in the end, insurance companies may consider not guaranteeing health is possible. Become a congenital disease, which in the end the insurance company may consider not guaranteeing health is possible at that point, the savings we have prepared for our retirement funds may not be enough. Because you will have an increased burden on health expenses in time.

In addition, you should consider buying accident insurance that covers disability and disability. Coverage in this area is another necessary thing. Because not only the victims will lose the ability to make money expenses that follow due to medical treatment and living really is a very high expense.

Therefore, the recommendation is that you should consider buying at least 1 additional personal health insurance and how much you will buy, consider the cost of medical treatment compared to the benefits that are mentioned above. From there, you should have a follow-up and review of various coverage. That you have in your insurance policy at least once a year. At that point, you think your health costs have increased significantly more than your coverage. You may consider purchasing additional health insurance. And to ensure that you are still healthy not a congenital disease that may cause insurance companies to consider no warranty. You also must take good care of your health as well, because in the end, 'Without disease is a noble fortune' is the truest statement.


Article by: Nipapun Poonsatiansup,

CFP® Dependent Financial Planner