How Tenzing Can Help You - A Case Study
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Fully covered hospitalisation & surgery expenses
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Cancer (inpatient & outpatient)
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Emergency Evacuation
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Freedom of treatment to select any hospital he’d like for major treatments
Insurance buying tip: When you buy direct from an insurer you get offered what they have, not necessarily what’s best for you and at the best price. So unless you get quotes from many providers, it’s quite easy to be oversold. “You can get a comparable plan from our competitor for less money” said no insurer ever. |
After being presented a side-by-side comparison of multiple plans, including his original one, David selected a new provider with comparable benefits & terms. This was, in fact, cheap health insurance in Vietnam, namely in three key areas:
1. Current Annual Premium
Item | Before Tenzing | After Tenzing |
Annual Premium, age 59 | 2,529 USD | 1,994 USD |
Amount Saved | 535 USD |
Historically, most international insurers would offer Worldwide excluding the USA as the standard coverage area. There is a growing trend to offer SE Asia excluding Singapore as the standard coverage area. By doing this, you remove many expensive places for treatment such as Singapore, Hong Kong, Japan, Europe, etc.
2. Annual Deductibles
Item | Before Tenzing | After Tenzing |
Annual Deductible | 4,250 USD | 1,350 USD |
An annual deductible is an amount that you’re responsible for before the insurance kicks in. You may opt to take a deductible in order to save money on your annual premium. In David’s old plan he had a $4,250 annual deductible. With his new plan, that was lowered to $1,350.
To illustrate the potential savings, let’s see a couple of scenarios:
Scenario 1: $5,000 hospital bill
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Before Tenzing, this would cost David $4,250 & the insurer would cover the remaining eligible expenses
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After Tenzing, this would cost David $1,350 & the insurer would cover the remaining eligible expenses
A $2,900 savings
Scenario 2: $2,500 hospital bill
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Before Tenzing David would pay $2,500 & still have $1,750 left on his annual deductible.
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After Tenzing David would pay $1,350 & have $0 left on his annual deductible.
A $1,150 savings
Over time & as more expensive medical bills accumulate with age, there are substantial savings here.
3. Future Premiums
In addition to this year’s premium, you should also factor in future premiums from your provider. Each one increases their rates in different age bands & at different rates of increase. In this case, there was a substantial difference between the expected future premium at his renewal next year:
Existing Provider | Recommended Provider | |
Estimated Premium Age 60 | 3,482 USD | 2,354 USD |
Estimated Savings Next Renewal | 1,128 USD |
Here’s David now:
We know David is happy with his reduced price health insurance in Vietnam. Be happy with your premium too.
For more tips on how to save money, please read our article about How to Save Money on your Health Insurance.
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