I wonder how many people are missing the irony concealed in this post; it wasn’t a few years ago when everybody was complaining about the 400,000/40,000 local insurance requirement, calling it “trashy”, “useless”, “waste of money”, and followed by the statement “I have a very good overseas policy, why can’t I use that instead?”
Well, to supposed great relief, the Thai government has now condescended for all these overseas policies to be capable of utilisation instead of the local variety. Unfortunately the cheers and jubilations at this announcement seem to be drowned out by more moans that “er, actually I don’t have an overseas policy/it’s too expensive/I’m too old.” Amazing how the posters dynamics change whenever the Thai government rules do…
We then drift into uncharted territory regarding the self insurance with either cash or assets of 3 million Baht. Somewhat predictably, there is not too much comment on the cash aspect but many posters have referred to the fact that they have a house or condo and will presumably use that as collateral. Leaving aside the issue that many of these properties will be in the wives names -who might well show a marked reluctance to hand over the necessary permission to dispose of the property in part or in whole to pay for their spouses heart bypass - how will the collateral help? All hospitals invariably want the cash up front, and are hardly likely to wait 3 to 4 years before the patient can dispose of his property. Can he raise a mortgage? Can he pay the mortgage? The opportunities for financial ruin and personal disaster are endless…
it will be interesting to see how things pan out, won’t it?