Insurance requirements up to 3Million baht

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Kenr6583
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Re: Insurance requirements up to 3Million baht

Post by Kenr6583 » October 22, 2021, 8:41 pm

jackspratt wrote:
October 22, 2021, 8:30 pm
As with most things in life Ken - fully inform yourself as best you can, and then make a decision based on your personal circumstances.
I've had plenty of time to look at different things in different perspectives, particularly in the financial sense. For me, if I do wind up in Thailand, it makes more sense for me financially and for convenience going that route. Cambodia makes more sense financially and convenience, but I LOVE Thai food 😆



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Re: Insurance requirements up to 3Million baht

Post by Drunk Monkey » October 22, 2021, 10:19 pm

Suppose 966 bt per week for the 20yr elite superiority visa package makes it sound more enticing ..easily offset by a few cutbacks in everyday life ....like a posh steak or wine now n then ... suppose also being 20 yrs hopefully not pegging ut b4 its used up would be a bonus.

Back more on topic .. still no confirmation that IF the new insurance regs are for ALL long stay visas is it still as first announced that one can only buy insurance from the 17 Thai listed insurers ??
A bizz colleage in Bkk mentioned he had read this had changed and other companies could be used including overseas ones.

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Kenr6583
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Re: Insurance requirements up to 3Million baht

Post by Kenr6583 » October 22, 2021, 11:48 pm

From what is being stated by the government it's only going to apply to the OA Visas and you have to purchase it through one of the 17 Thai listed insurance companies. The overseas ones, from what I had read, can only be used if the Thai insurance company will not cover you. That is the way I read it anyways, I could be wrong.

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Re: Insurance requirements up to 3Million baht

Post by Kenr6583 » October 23, 2021, 12:37 am

One of the biggest issues with insurance companies, at least Blue Cross Blue Shield, it's not going to say "$100,000" on the policy, which I know some people were having trouble with when entering Thailand previously with the covid insurance. The policies are going to have a deductible, max out of pocket, and co-pays. The verbiage on the Thai policies are different than they are in the United State, at least with BCBS.
Last edited by Kenr6583 on October 23, 2021, 5:52 am, edited 1 time in total.

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Re: Insurance requirements up to 3Million baht

Post by Declan MacPherson » October 23, 2021, 5:15 am

semperfiguy wrote:
October 22, 2021, 5:27 pm

Pipoz, the problem I see with either of these Elite visas is.....do you really trust the Thai government to keep their promises under the agreements for the next 5 or 20 years? So many things could go wrong during that time, and just because they may have kept their commitments since the program started doesn't mean they will in the future. This is the "land of the flip-flop", and they will do as they d**n well please and you could be left holding an empty bag.
Yes, there is a history of which we can fall back upon and point to past flips and flops.

I also do not see much value in these elite visas, but I would never discourage anyone from doing what they think is best for themselves. I have no problems putting together a small amount of paperwork annually to get an extension; and I have no problem with the bank deposit amount requirement that sits there all year with no purpose other than to prove that I have it once a year. And as it is, my neighbor does my 90 day report for me. Best of all worlds for my purposes.

As to the insurance requirements, looks like OA is the target once again for the purpose of ensuring the financial independence of the new travelers here. Apparently, and this is just a guess (like everyone else here is doing), the government thinks that their bank deposit requirement weeded out all of those who could not afford to remain here. Those of us who remain have ties to Thai families (whether retirement or marriage). Putting something like this insurance requirement on top of the banking requirement on those already here is just going to put a financial hardship upon the Thai families who will get caught up in all of this. The additional expense may be the difference for some in staying or having to leave.
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Re: Insurance requirements up to 3Million baht

Post by bluejets » October 23, 2021, 5:24 am

Canberra Consulate site shows only O-A insurance requirement for 3 mill.
Interestingly the o-x 5 year is still at 400k.

https://canberra.thaiembassy.org/visa-categories/

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Re: Insurance requirements up to 3Million baht

Post by Kenr6583 » October 23, 2021, 5:56 am

Looks like I was wrong, you can use your own insurance outside of Thailand no matter what.

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Re: Insurance requirements up to 3Million baht

Post by Techland » October 23, 2021, 8:09 am

Already in 2019 when this scheme first came up there was information how to change from OA to O. O does not need insurance at all.

https://www.thaiembassy.com/travel-to-t ... r-retirees

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Re: Insurance requirements up to 3Million baht

Post by parrot » October 23, 2021, 9:04 am

Techland wrote:
October 23, 2021, 8:09 am
Already in 2019 when this scheme first came up there was information how to change from OA to O. O does not need insurance at all.

https://www.thaiembassy.com/travel-to-t ... r-retirees
Am I correct to say: Non-O is suitable only for people who have Thai family (spouse/children).
Non-OA is for those 50 and older who wish to stay in Thailand (but do not have Thai family)

If you have Thai family, I'm trying to figure out why anyone would do a Non-OA vs. a Non-O

Am I missing something?

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Re: Insurance requirements up to 3Million baht

Post by Kenr6583 » October 23, 2021, 9:09 am

parrot wrote:
October 23, 2021, 9:04 am
Techland wrote:
October 23, 2021, 8:09 am
Already in 2019 when this scheme first came up there was information how to change from OA to O. O does not need insurance at all.

https://www.thaiembassy.com/travel-to-t ... r-retirees
Am I correct to say: Non-O is suitable only for people who have Thai family (spouse/children).
Non-OA is for those 50 and older who wish to stay in Thailand (but do not have Thai family)

If you have Thai family, I'm trying to figure out why anyone would do a Non-OA vs. a Non-O

Am I missing something?
I can only assume because they do not want to do a Visa run every 3 months.

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Re: Insurance requirements up to 3Million baht

Post by jackspratt » October 23, 2021, 9:14 am

Until they introduced the insurance requirement, there were advantages in the non A-O even if you have Thai family.

Firstly, you could get a multiple entry which if used correctly, effectively gave you 2 years in Thailand without the need for an extension.

Secondly, there was no requirement to have money in the Thai bank/income during that period ie your money could stay in your home country.

There was also a lot less stuffing around to do when applying for an extension, whenever that occurred.

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Re: Insurance requirements up to 3Million baht

Post by bamakmak » October 23, 2021, 2:53 pm

Kenr6583 wrote:
October 23, 2021, 9:09 am
parrot wrote:
October 23, 2021, 9:04 am
Techland wrote:
October 23, 2021, 8:09 am
Already in 2019 when this scheme first came up there was information how to change from OA to O. O does not need insurance at all.

https://www.thaiembassy.com/travel-to-t ... r-retirees
Am I correct to say: Non-O is suitable only for people who have Thai family (spouse/children).
Non-OA is for those 50 and older who wish to stay in Thailand (but do not have Thai family)

If you have Thai family, I'm trying to figure out why anyone would do a Non-OA vs. a Non-O

Am I missing something?
I can only assume because they do not want to do a Visa run every 3 months.
Actually there is a simple way to avoid the 3-month Visa run when using Non-O for retirement. When I retired in Udon 15 years ago, I got the single-use Non-O for retirement (good for 90 days). About 30 days before it expired, I went to Thai Immigration and got my 1-year retirement extension. (Went up to Nong Khai back in those days and met with Mr. Happy, who all of the old-timers on this forum undoubtedly remember!) I've been getting the annual retirement extension every year since.

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Re: Insurance requirements up to 3Million baht

Post by pipoz4444 » October 23, 2021, 3:02 pm

Hi Semperfiguy

Governments come and go and yes they do make changes. In 5 to 10 year time there should be a different generation of politicians running the Thai Government. Who knows what their approach might be towards Non-Citizens residing in Thailand long term or retiring. That for sure, is uncertain.

At this time, the direction of the incumbent Government towards long stay visa and or those retiring clearly seems to be towards a more affluent Person or Retiree, which doesn't seem much different to that of other countries, many of whom are promoting their respective long stay/Retirement programs, for those who are prepared to Pay for the Privilege. There are a number of Country programs around, whereby, if you buy a Property, or Deposit large sums of money into a Bank/Bond, then you get some right or privilege to live in that Country. It appears to be a Worldwide trend.

So back to Thailand. Thailand is not the only one competing for the money that comes with Long Stayers and Retirees, so Thailand does have to tread carefully. For this reason I can't see any future Thai Government going backwards on their “Word” or cancelling Elite type visas, those that they currently issue under their program, in the future. Doing this down the track, would send the wrong message, to those they want to attract and enslave for their money.

I actually think Thailand is developing and will continue to further develop, their Elite Program, specifically for and to attract that type of Long Stay/Retiree, that Thailand has decided it wants for its future. Hence, I believe this program is here to stay for a long time. The Elite program may ultimately will be become one for main avenues (if not the only avenue) for those who wish to stay in Thailand long term or retire, 10 years from now. It or something similar. This wouldn't supprise me.

In this sense Thailand are doing the same others, pushing as many as they can towards an Elite type program, whilst at the same time Thailand is triming back or making other visa options, morre difficult to get. All geared towards, Pay for the Privilege to live here.

One has to remember in years gone by, it was mostly older persons who wanted to retire to Thailand and they were a necessary choice, as Thailand desperately needed the foreign revenue from those 50 year old plus Foreigners. I can remember the mx of people back in 2001. [-( These days Thailand has more choice, as there are more affluent middle aged people seeking to long stay and or invest in Thailand, especially with the large numbers coming from China. Hence, Thailand's need to consider or cater for “Us”, is somewhat less important to Thailand, these days and dwindling, by the year. You could say, we are becoming more “Expendable”, by the year.

As to the O-A Visaand the Insurance Premium that will now come with, was an easy target and an easy option. Thailand just simply raise the financial bar, in getting an )-A and usuing Insurance as a new requirement, was logical and easy to implement. People will now pay insurance to a Thai Based Company and the government will get Tax Revenue from that payment amount. Elite program or O-A Insurance, makes no difference, either way the Government, gets it cut. :-k =;

Question: What does the Thai Government really stand to lose, buy making Non-Citizens pay more their O-A and or pay for medical insurance. I think they will eventually phase out the O-A visa, leaving one less avenue or option for those who wish to stay long or retire in Thailand.

As to whether Thailand go down the path of raising the financial bar on the other Visa types that allow one to stay, who knows, and it’s likely the next generation of politicians will decided this. But for sure that days of moving to another country without having to pay the Government in some way for that privilege, do seems to be diminishing.

WORLWIDE
Malaysia: I think Malaysia has recently upped its requirements to Foreigner must have liquid asset of US 354,000
Cambodia: Think they are still in the process of revamping their requirement for Ling Stay and Retirees
Vietnam: Not clear where they are heading with their Long Stay or Foreigner retiree programme
Laos: Don’t think they even have a long stay or retirement programme Foreigner/Non-Citizens, beyond 90 Days
Australia: good luck getting in, even if you are a Citizen, but under their investment progamme you can pay between AUD 500,000 and 750,000, plus have an income from elsewhere
New Zealand: Much the same as Australia but amounts are in NZD 750,000
Greece starts at USD 293,000 investment
Portugal starts at USD 293,000 investment
Malta starts at USD 130,000 investment


I know its long, but today is my day of Rest. \:D/ \:D/ =D>

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parrot
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Re: Insurance requirements up to 3Million baht

Post by parrot » October 23, 2021, 3:18 pm

Sometimes thing change unexpectedly: When we came in 1996, a Thai married to a foreigner could not own land! That changed.....rather suddenly.....in 1999ish.
An expat life is a gamble........I doubt there's any predicting what will happen in the next 10 or 20 years. Maybe good.....maybe not.

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Re: Insurance requirements up to 3Million baht

Post by Giggle » October 23, 2021, 3:27 pm

Foreign governments should exercise reciprocity. No Thais allowed to own land abroad. Must have $30K in the bank and prove it every 90 days. Pay double or triple the price to enter National Parks. Be reminded regularly that you're generally third-world fraudsters posing as residents (no, sorry, now you're just long-term tourists) in civilized countries.

Yes, let's try a little reciprocity.
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Re: Insurance requirements up to 3Million baht

Post by Kenr6583 » October 23, 2021, 3:40 pm

bamakmak wrote:
October 23, 2021, 2:53 pm
Kenr6583 wrote:
October 23, 2021, 9:09 am
parrot wrote:
October 23, 2021, 9:04 am
Techland wrote:
October 23, 2021, 8:09 am
Already in 2019 when this scheme first came up there was information how to change from OA to O. O does not need insurance at all.

https://www.thaiembassy.com/travel-to-t ... r-retirees
Am I correct to say: Non-O is suitable only for people who have Thai family (spouse/children).
Non-OA is for those 50 and older who wish to stay in Thailand (but do not have Thai family)

If you have Thai family, I'm trying to figure out why anyone would do a Non-OA vs. a Non-O

Am I missing something?
I can only assume because they do not want to do a Visa run every 3 months.
Actually there is a simple way to avoid the 3-month Visa run when using Non-O for retirement. When I retired in Udon 15 years ago, I got the single-use Non-O for retirement (good for 90 days). About 30 days before it expired, I went to Thai Immigration and got my 1-year retirement extension. (Went up to Nong Khai back in those days and met with Mr. Happy, who all of the old-timers on this forum undoubtedly remember!) I've been getting the annual retirement extension every year since.
You started with a 90-day O Visa, then got a one-year OA Visa? I'm sure you did that so you would not have to do a Visa run every 3 months.

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Re: Insurance requirements up to 3Million baht

Post by pipoz4444 » October 23, 2021, 3:59 pm

parrot wrote:
October 23, 2021, 3:18 pm
Sometimes thing change unexpectedly: When we came in 1996, a Thai married to a foreigner could not own land! That changed.....rather suddenly.....in 1999ish.
An expat life is a gamble........I doubt there's any predicting what will happen in the next 10 or 20 years. Maybe good.....maybe not.
I fully agree with the view that "Life is a Gamble", especially as an Expat. As Expats wishing to live in another country, we are nothing more than "Nomads", without rights, when it come to the whim of the incoming Government of the day.

As Ken alludes to, make sure you have a Plan B. \:D/ As it does pay to take some precautions to protect your risk down the track. Of course, this varies for each individual and how old he is.


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Last edited by pipoz4444 on October 23, 2021, 4:07 pm, edited 2 times in total.
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Re: Insurance requirements up to 3Million baht

Post by pipoz4444 » October 23, 2021, 4:02 pm

Opps
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Re: Insurance requirements up to 3Million baht

Post by jackspratt » October 23, 2021, 5:24 pm

Kenr6583 wrote:
October 23, 2021, 3:40 pm

You started with a 90-day O Visa, then got a one-year OA Visa? I'm sure you did that so you would not have to do a Visa run every 3 months.
You can't change/convert an O visa to an O-A. While O-A is generically used as a substitute for "retirement", it is not strictly correct.

If I understand bamakmak correctly, he originally entered on a 90 day O visa (based on retirement), which he then extended for 12 months by meeting the requirements applicable at the time, and since.

The initial issue of a particular type of visa (O or O-A etc) will depend on what your local Embassy or consulate is willing to issue. The extension issued by immigration in Thailand will be in accordance with the original visa.

For example, I am currently here on an O-A (retirement), and to extend that (and avoid insurance), I have had to change to an extension based on marriage. I can't change the visa type to O until I next visit Australia, and must depart Thailand without getting a Re-entry permit.

If I did get a Re-entry before leaving here, it would keep my O-A alive, and the Thai Embassy/consulate in Oz could not issue an O while I have a valid (live) extension based on an O-A visa.

EDIT: I have just checked the websites for the Thai consul in Sydney, and Embassy in Canberra. Neither are issuing O visas based on retirement - only for spouse/family etc. For retirement, an application for an O-A is required.

Which means effectively (assuming the same rules are in place when I visit Oz some time next year), I may as well get a Re-entry permit before leaving LOS.

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Re: Insurance requirements up to 3Million baht

Post by Declan MacPherson » October 23, 2021, 6:38 pm

bamakmak wrote:
October 23, 2021, 2:53 pm
Actually there is a simple way to avoid the 3-month Visa run when using Non-O for retirement. When I retired in Udon 15 years ago, I got the single-use Non-O for retirement (good for 90 days). About 30 days before it expired, I went to Thai Immigration and got my 1-year retirement extension. (Went up to Nong Khai back in those days and met with Mr. Happy, who all of the old-timers on this forum undoubtedly remember!) I've been getting the annual retirement extension every year since.
Correct.

I have never ever had to do a 90 day visa run with my Non-O Retirement.
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