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How much emergency cash reserves to set aside?


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to_dave007
27 minutes ago, Salty Dog said:

Roger is still alive and kicking...

I know.. was just commenting to Roger that my Canadian friend was treated and passed way not far from where Roger lives... quite close.  Roger will know what I am talking about.  Remember.. Roger and I are almost close enough to be neighbors out here in the province. 

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I am not sure how many expats have the ability to set aside $20,000 US a year and still have enough left over to lead a quality life, just saying 

In my case I have about 500,000 set aside plus 3 western credit cards. But that's not how I really want to respond to you.  I been here at LINC for a few years now, and we see threads like this o

For we Aussies it's  'If in pain, catch a plane'!  Get to hell out of there to back home asap. I had to do this 11 years ago and still getting treatment constantly since, and all it has cost me was th

KMonde
1 hour ago, to_dave007 said:

I'm really not convinced he would have done better back in Canada.. and he certainly would not have had the personal care he had in Philippines.

I agree, medical events like stroke, heart attack, cancer, dialysis, even organ transplants, can be handled in the Phils. Some good hospitals in the country. St Lukes, Asian Hospital, Medical City, Cebu hospitals, Makati Med, so many in fact, including our very own  Bopis Complex (heart, lung, kidney centers). Bopis is a Filipino delicacy. Look it up! 

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Swissrider
I have noticed that the chance of doing that, (once you have confirmed that you are sick enough to need to fly back), is somewhere around 50% because by then you are often to sick to fly.
True, If I have a major health problem I can fly back to Switzerland a get treatment. We have a law that obliges the insurance companies to accept me for the basic insurance (already very good and cheap) regardless my age and with unlimited coverage. But as you say, what if I'm too sick to fly or I have a serious accident here that needs treatment in the ICU. Not easy what to do. Take the 50/50 chance ?

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cookie47
13 hours ago, Ozepete said:

catch a plane'!

Yeh, true. But just getting travel insurance at 73. (and I'm only talking about to the health component)is getting harder .They take your Money till 65 then say..... FO......

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KMonde
2 hours ago, cookie47 said:

Yeh, true. But just getting travel insurance at 73. (and I'm only talking about to the health component)is getting harder .They take your Money till 65 then say..... FO......

When you're young and healthy you are very insurable, meaning the insurance company can make money off you with little risk. When you're old and sick, you are a risk to their profits, hence the premium increases, age limits, or health exclusions. They always win in the end.

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cookie47
When you're young and healthy you are very insurable, meaning the insurance company can make money off you with little risk. When you're old and sick, you are a risk to their profits, hence the premium increases, age limits, or health exclusions. They always win in the end.
Spot on, I have found one insurance company recently that advertises specifically for seniors.

I'll do a quote when I get around to it.

But due to Covide and closed border's (well where I want to go) I ain't going anywhere anytime "soon".

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Chris24
On 8/4/2021 at 2:53 PM, KMonde said:

The more complicated it is, the less I trust it.

True wisdom there, with all financial products or insurance products masquerading as them.  

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Salty Dog
On 8/4/2021 at 3:24 PM, Soupeod said:

Research @Salty Dog story on what happen to him

 

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KMonde

Thanks for the link @Salty Dog. Glad to know you recovered.

I'm actually not fearful of medical care in the Phils. I have childhood friends and also cousins who are doctors and nurses there and they are intelligent, competent professionals. Just need to set up some medical POAs so if we are unable to make decisions, they can step in.

To be honest, when it's my time to go, I'd prefer to kick the bucket there, not here, especially if I require caregiving. I know I can hire better caregivers there and it won't nearly be as expensive or hard to get. 

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mikewright
On 8/5/2021 at 2:03 AM, KMonde said:

There are obviously other options for international health coverage other than going naked. Since some of you decided to go the naked route, it makes me think it has some merits which would be helpful to understand in how it compares to buying international health insurance coverage.

I don't know if it would be applicable to your circumstances, but some credit cards provide free travel insurance.

As an example, the one in the link below (an Australian CBA Mastercard Diamond) provides basic travel insurance for cardholders of up to 12 months per trip, with an age limit of 80 years. It also includes the family of the cardholder if travelling together for the whole trip.  For a fee, cover can be upgraded to include pre-existing conditions or people over 80.

The card costs AUD$349 p.a., but is way cheaper than standard travel insurance, particularly if making several trips a year or staying for up to 12 months.  The policy itself is pretty basic and has a lot of exclusions, such as excluding claims arising from an epidemic, pandemic or outbreak of a contagious disease. But for someone under 80 in reasonable health looking for basic health cover, it might be a good option.

commbank/credit-card-insurances-pd-info-booklet.pdf

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KMonde

This is great. Thanks. I'll look into this. I've been researching what digital nomads do for health insurance. Many of them travel year-round. Some maintain health coverage stateside and get travel insurance.

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cookie47
1 hour ago, KMonde said:

digital nomads

Well after passing 65 some 9 years ago most main stream insurer's didn't want to know me . However i Found a company called "Insure and go" that claims to insure up 100....Well it was a Easy web based application with them accepting hypertension as a pre existing condition without penalty.

From Australia it was quite affordable BUT.and this is the crunch.I never needed to claim so I can't tell what my claim experience would be. They do have a user blog....Which as most blogs go, goes from absolutely fantastic to terrable...I noticed the contact number for service is UK based....

So can I recommend.... Dunno...It's luck of the draw....

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