Thread: COVID-19 insurance policies, paying out on infection, cancelled

Amid a surge in cases, several insurance companies have cancelled their COVID-19 insurance policies, which promised payment upon the discovery of infection, dubbed “Found, Paid, Done” policies.


They have now been replaced by new products, which exclude medical personnel and cover medical treatments, comas and allergic reactions to COVID-19 vaccines instead.


With an average of 2,000 new COVID-19 a day in recent weeks, the Thai General Insurance Association (TGIA) said the insurance providers may be liable for up to one billion Baht in claims, as opposed to 200 million Baht being claimed currently.


20% of all infected people have made insurance claims since last year, higher than 10-15% reported in the first quarter of this year, thanks to the new COVID-19 wave, said TGIA President Anon Vangvasu.


Viriyah Insurance has revoked its “Found, Paid, Done” insurance from May 1st and launched a new program, which reduces protection coverage of 100,000 Baht, to tens of thousands, while increasing medical treatment coverage in “hospitels”, in case of a lack of hospital beds, comas and allergic reactions to vaccination.


Syn Mun Kong Insurance has suspended its four similar insurance programs since April 22nd, while Bangkok Insurance will suspend most of its COVID Complete insurance offerings from 10pm today (Monday), except for the plan with the 259 Baht premium.


COVID-19 insurance policies, paying out on infection, cancelled | Thai PBS World : The latest Thai news in English, News Headlines, World News and News Broadcasts in both Thai and English. We bring Thailand to the world

Insurance f*ckers really all should be hung. Slowly.

Some of those insurance packages look really good. Have been meaning to get one or two.

One is 1k baht, and get 200k baht upon diagnosis. And maybe 200k baht paid if you cark it.

Another is 800b, and then 100k for treatment and 1,000,000 if in a coma.


Given that I'm probably going to get it at some stage, we all probably are. a 200k payout on a 1k bet is pretty good odds.


But then you have to consider that they're just going to cancel it and give you nothing.


Remember the head honcho in Chiang Mai declaring he'll give 100k baht to anyone that gets it in CM. Kinda guessing he's forgotten about that.

Honestly not sure how many policies I have for covid. I know I have one through work, and I think a second through the bank.

Originally Posted by nidhogg

Insurance f*ckers really all should be hung. Slowly.

Insurance Mafias, by their very nature, are corrupt and immoral.
Kinship with criminally organized government, corporate and bankster circles.

Originally Posted by nidhogg

Honestly not sure how many policies I have for covid. I know I have one through work, and I think a second through the bank.

That willl be two then.

Originally Posted by Iceman123

That willl be two then.

Well, no. As I said, I only think I have a second one. So it is one or two.

I went into Bangkok Bank on Wednesday last week to ask about getting one, (covid insurance) The lady told me it's only for Thais, I didn't bother asking how much it was, Maybe next time i pop in i'll ask about getting it for the wife's mum and find out some more info.
But i do understand why they are pulling back on it now with all the sudden uptick in cases.