accident fund

Author: **aznyron** » February 14, 2009, 6:03 pm

we have enough expats to start a accident fund for any one involved in a M/B or auto accident to help with the medical bills this of course would be a loan and paid back in 6 payments it just idea I have to help some one who is caught at a bad time here my idea we enlist some members every month they pay so much in to the fund
when the fund reaches 100K then the money stops when some one has accident they can borrow up to 25K
to help them off set the medical expense and if the member is Killed the spouse will receive 25K which will
be donated to the wife. the amount we pay each month depends on the membership and only a member can benefit from this plan like I said it only a idea some thing worth investigating

Author: **stattointhailand** » February 14, 2009, 7:10 pm

I suspect, that even though the idea has a lot of merit, it would be a "nightmare" to set up, with all the legalities involved. Was involved in an "EQUITABLE SOCIETY" many many years ago in England. All the members paid a small sum (about B20 each per "share" per week), and you could get a "loan" of up to 20 times your monthly input, which had to be paid back in 20 weeks including intrest.
If you had 5 shares = B100 per week = B433 per month you could borrow B8660, which had to be paid back in the 20 week period, either weekly, monthly, or as alump sum after 20 weeks.
The whole system relied very heavily on a group of individuals going to visit "members" every week to collect the money, and was I think disbanded in the end when too many "agents" got mugged or did runners with the money.

Author: **Marmite The Dog** » February 14, 2009, 7:14 pm

A nice idea, but for around 4,500 you can get an accident cover card from AIA that pays out up to 100,000 a time.

Author: **stattointhailand** » February 14, 2009, 7:30 pm

You might be able to get a card .......... getting ANYTHING, let alone B100,000 will be a completely different matter. They are happy to take your money, but they don't pay out ](*,)

Author: **Marmite The Dog** » February 14, 2009, 7:43 pm

^ I disagree, but up to you.

Author: **old-timer** » February 15, 2009, 12:58 am

"FRIEND (EXPATS ONLY) IN NEED SOCIETY" (FINS) got a bit of a ring to it...someone needs to put the 100k up front though for this to work, here's why - imagine buying a life insurance policy from a proper insurance company for the wife, and bless her little cotton socks...she pegs it after 2 months, now, the insurance company would pay you the sum insured (providing you ain't told any porkies on application) even though you've only paid, let's say, 200baht in premiums. if FINS has a dozen members to start and
all paying 200baht a month and gets hit with the 25k (pre agreed claims (loan) payout) from an unlucky four members who have gone over the handlebars on their motorcycles in the first two months there would be a shortfall of 95,200baht to satisfy their claims. so who's up for it!!!
free advice and actuarial dept now closed.

Author: **rickfarang** » March 14, 2009, 11:19 am

In your example, Old-Timer, rather than the beneficiary loosing the benefit amount, the group would owe the unpaid funds to the beneficiary.

Aznyron, this is basically a mutual insurance fund. Its a great idea. It would be necessary to find a issues to the for problems Stattointhailand pointed out (it would likely be viewed by authorities as a business, even though nonprofit) and getting collecting money is always a problem.

Given that the insurance I have seen offered around here is a comparativels poor value, your idea would be welcomed if it could be made to work.

Author: **aznyron** » March 14, 2009, 11:43 am

try this one for size no one is covered for the first 6 months of the policy until we have adequate funds to cover some one. remember this is not insurance fund it a loan fund to some one who might get injured in accident & needs some help to pay the hospital bill which is paid back in installments. and there is a cap of 25k to be loaned or death benefit of 25 k to the spouse or we can reduce the death benefit to 10 K which in most cases enough to burn the body it a idea & I am 100% sure there are better ones out there

Author: **ULICK MC GEE** » March 15, 2009, 12:00 am

stattointhailand wrote:You might be able to get a card .......... getting ANYTHING, let alone B100,000 will be a completely different matter. They are happy to take your money, but they don't pay out

udon has many frangs with same attitude,so i think i'll pass on this one. :guiness:

Author: **Aardvark** » March 15, 2009, 8:12 am

More like 100.000 to burn you I think :-k

Author: **old-timer** » March 15, 2009, 8:24 am

this threads in the "nightlife in udon thani" forum - ?
accident fund - nightlife in udon thani ??? - can't find the connection,
moderators - please move this thread to health and beauty before lee doc's your wages $\:D/$
pay attention!

Author: **douglas** » March 15, 2009, 8:31 am

Hi,
Siam commercial bank does a accident insurance call PA Happy. There are two types of policy. One costing about 800B p.a. in this case you have to pay the hospital or doctors fees and then claim it back from bank. Two, costs about 1300B p.a. and show card to hospital and hospital claims the costs from the bank. This works, daughter had a motor bike accident three years ago, three days in hospital due to a head injury, crash helmet on handlebars, showed card and did not pay a thing. The costs to PA Happy was about 10,000B.
Had a accident 6 months ago and broke my foot, no problem PA paid.
So i would rather try a policy than paint all with the same brush. The only stipulations with the policy is you have to be between 12years min. to 70yrs. max.
Cheers Doug.

Author: **Galee** » March 15, 2009, 9:00 am

I also have accident cover. I'm with MSIG Insurance. I have a PA Gold card. Cost 1000Baht a year. Cover 10,000Baht.

Author: **Bandung_Dero** » March 15, 2009, 11:31 am

I think you will find that you will get as much interest in this as we had here in Ban Dung, when, after a string of 4 Farang passing away in a 6 month period we tried to set up a register with this questionaire, I think we only had 4 respondance.

BAN DUNG FARANG REGISTER

The information you supply here is designed to help us help you in an emergency. It will be kept as confidential as is possible and you only need to volunteer information as you see fit.

Full Name: …………………………………………………………………………………..

Nationality: …………………………………………………………………………………..

Date of Birth: …………………………………………………………………………………

Passport Number: …………………………………………………………………………..

Next of Kin: ………………………………………………………………………………….

NoK Phone Number: ……………………………………………………………………….

NoK Email: …………………………………………………………………………………..

Thai Partners Name: ……………………………………………………………………….

TPs Phone Number: ………………………………………………………………………..

Your Preferred Hospital: ……………………………………………………………………

Your Preferred Funeral/Service Arrangement eg. Thai Buddhist, Thai Christian, Sent
Home etc.:
……………………………………………………………………………….

Other information you consider relevant eg. allergies, special medication, existing medical problems etc.

See Eddie if you want a form and want to participate in this community service.

Apathy is the key word.

accident fund

accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Re: accident fund

Who is online