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Thailand's going to wise up pretty soon and start charging comparable rates.
What makes you think so? What evidence do you have for that? Thailand has been among the top countries for medical tourism for several decades, and has remained thoroughly affordable - how would it be profitable for them to "wise up", and lose that market? The number of nursing homes in Thailand is increasing, but not the prices. Thailand does not rely on imports, and has a massive low-skilled population, which, however, is generally happy with their traditional low-cost way of life. These two factors keep the cost of living very low, and there is no evidence of that changing.
Suppose you live in peaceful surroundings, where everyone delights in beautiful nature which is free, Buddhism which is free, food which is very cheap (due to huge domestic agricultural output and no food imports), your one child per married couple (Thailand fertility rate is 1.4 births per woman), and you don't crave anything else. Why should the cost of living in that kind of paradise go up?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Quote:
Originally Posted by mathjak107
because the payouts have been so great .
genworth is paying out 8.8 million in claims a day they said
It's no different than any other insurance. We were in California and experienced the devastating Loma Prieta earthquake in 1989, when insurers stopped writing earthquake policies. Likewise, recently 12 insurers have
stopped new homeowner policies because of the wildfires. The whole business model for insurance is to collect premiums in excess of the claims payouts, and therefore profit. The upcoming spike in nursing home demand as we older folks age out will have a big impact, and for a few decades will drive up the premiums for new LTC buyers.
I want to thank the people who have contributed to the LTC threads here recently. These discussions have helped convince me that insurance is not the right answer for myself and my wife. With that said, I'm not suggesting it's the wrong answer for everyone.
All paths have risk, and ultimately it comes down the the types of risk a person wishes to take.
Most people who do this are attempting to protect assets so they can leave a legacy amount to children. So, isn't there a better way to do that? This seems akin to an annuity that everyone seems to hate. So, I am just wondering why people would not just drop these policies if given the opportunity. Agree with Lizap there is no end in sight to the premiums.
There are few options that don’t have poor ramifications
The insurance is priced so you pay n about a years stay in future dollars
That can be a cheap price to pay for not risking impoverishing a spouse like my dads stay did
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