Retirement in Thailand… Too naive?

[Lacessit]

I'll see what happens in November 2020, when I go for my next retirement extension.

I won't be hurt. My Thai GF and her family will, but Bangkok doesn't give a rat's bum for them.

[Scot123]

1 hour ago, Thailand said:

Forging documents/stamps and using IO's discretion are 2 very different things.

Sorry but no. Using agents is risky and does sometimes end in tears. A friend of mine was helping out a guy who got caught up in bad blood between 2 immigration officers. He was in hospital and needed to do an extention so decided to do it himself instead of using the agent he had been using. He went to another immigration office who said his stamp was forged "it wasn't" it was done through an agent at a different office. He told them he did his visa through an agent and was put in prison and deported and lost everything..... This is fact not fiction. Playing in the gray area is very risky in Thailand. Using agents to provide visas is against the law when they put funds into your account and grease palms. 

[LivinLOS]

1 hour ago, Just1Voice said:

A-O is basically a 1 year extension of stay, but NOT a Non-O Retirement extension. 

The OA (not A-O!!) VISA is a visa issued outside of Thailand by embassys and consulates !! 

 

That OA visa generates a 1 year permission of stay, that may be extended if you met the conditions of extension. 

 

Unsure what your trying to claim saying its not a visa ?? 

Edited October 21, 2019 by LivinLOS

[LivinLOS]

34 minutes ago, Sheryl said:

This aside you should not be here uninsured, even with several million in the bank unless you are fine with losing it in one fell swoop and able to immediately replenish it.

Yeap.. Totally fine with that risk / reward balance, have been for 20 years. 

 

As a very wealthy guy I used to know once said, insurance is for poor people.

[Just1Voice]

4 minutes ago, LivinLOS said:

The OA (not A-O!!) VISA is a visa issued outside of Thailand by embassys and consulates !! 

 

That OA via generates a 1 year permission of stay, that may be extended if you met the conditions of extension. 

 

Unsure what your trying to claim saying its not a visa ?? 

Read again.  I said it is not a Non-O Retirement Visa. 

[kingdong]

3 hours ago, Is this real said:

I've asked this question for 10 years.  Never gotten an answer.

 

If you have B800k in the bank, only in your name, and you die, what happens to it?

 

If it is in your will, does it all actually go to the beneficiary?  Do you know cases, for sure, where this has happened?

 

In 10 years, I've never heard of anyone getting it.

I have,the bank manager.

[LivinLOS]

3 minutes ago, Just1Voice said:

Read again.  I said it is not a Non-O Retirement Visa. 

Hang on.. Let me get my glasses.. 

Quote

O-A is NOT a Retirement Visa. 

 

Nope.. Still not seeing it.. 

An O-A is precisely that, a retirement visa !! 

[kingdong]

3 hours ago, Is this real said:

Any coup would probably result in things being easier for expats.  A new power group would want to make good with the rest of the world and probably need income.

They thought that in Cambodia when pol pot  got in.

[kingdong]

3 hours ago, marko kok prong said:

Have been thinking of going back to Europe,but God,that would be the 3rd time i have shifted my whole life,plus i have two houses here,lord not sure what to do.

Liquidate your assets now while the baht is strong and buy sterling,be ready to leave at short notice.

[kingdong]

5 hours ago, mokwit said:

This is : "No country for old men"

At least they haven,t introduced a euthanasia policy based on age ------- yet

[Emmess]

56 minutes ago, Sheryl said:

 

As it currently stands there is no money in the bank alternative to having insurance. That is going to become a huge problem as the policies on offer fro mthe companies listed by Imm will not enroll anyone over age 75, and there will also be people under that age who are denied because of pre-exisitng conditions.

 

This aside you should not be here uninsured, even with several million in the bank unless you are fine with losing it in one fell swoop and able to immediately replenish it.

 

At 55 you have a lot of options; now is the time to lock into a policy that guarantees lifetime renewal. 

 

Options will be less say when you turn 60, or if even before then you develop any pre-exisitng conditions. I suggest you contact a broker familiar with expat policies and also with the new Imm requirements. Personally I use AA.

I have no knowledge of any insurance here which is lifetime ( I could be wrong). I have my insurance policy with Pacific Cross, insured for 10 million. OPD is actual charges and IPD is up to 10 million. At 57 am paying a premium of approximately 70,000 per year. This insurance will cease at the age of 90. Have a friend who spent more than 3 million on getting treated for cancer here. He is okay now but financially in a bad shape as he was 'self insured'. I personally would not be comfortable taking that risk for such a paltry amount every year. Better to be at peace.....

[Longcut]

I don't think most expats need or want insurance for outpatient care. I know that I for one just pay the bill and don't even put in a claim.

[Kelsall]

I am haunted by the advice of a friend decades ago:

 

"We don't stay where we're not wanted."

[thequietman]

1 hour ago, Sheryl said:

 

As it currently stands there is no money in the bank alternative to having insurance. That is going to become a huge problem as the policies on offer fro mthe companies listed by Imm will not enroll anyone over age 75, and there will also be people under that age who are denied because of pre-exisitng conditions.

 

This aside you should not be here uninsured, even with several million in the bank unless you are fine with losing it in one fell swoop and able to immediately replenish it.

 

At 55 you have a lot of options; now is the time to lock into a policy that guarantees lifetime renewal. 

 

Options will be less say when you turn 60, or if even before then you develop any pre-exisitng conditions. I suggest you contact a broker familiar with expat policies and also with the new Imm requirements. Personally I use AA.

Currently paying into the social security scheme here. Is it OK to assume that I am covered, even if I quit and still pay into the scheme?

 

I know I will be covered by a government hospital which may slow things down a little, but if I need to, I can pay more to get the help I need. 

 

Am I good to go, kind of thing? ????

[brokenbone]

6 hours ago, kingdong said:

At least they haven,t introduced a euthanasia policy based on age ------- yet

i cant wait for that to be instituted

[saengd]

10 hours ago, Just1Voice said:

A-O is basically a 1 year extension of stay, but NOT a Non-O Retirement extension. 

How pedantic do you want to be!

[Lacessit]

3 hours ago, brokenbone said:

i cant wait for that to be instituted

I'd prefer it was based on intelligence....

[dotpoom]

Read down as far as the "Link".

   Seems like the OP had a bit of a "high flying" job...hanging out with his Ambassador friend and having conferences with Thai leaders and trade union leaders etc.,

  Am a bit surprised that the cost of "health insurance" would be a challenge for him?

PS...not many of us could have afforded to bring most of our household furniture (inc. the Piano) with us when we came here to retire...I would imagine?

Edited October 22, 2019 by dotpoom

[brokenbone]

30 minutes ago, Lacessit said:

I'd prefer it was based on intelligence....

there is no principal opposition,

diminishing brain function goes hand in hand with advanced age

[Dukeleto]

15 hours ago, Scot123 said:

As an ex expat who left Thailand 7 months ago because being uncertain of the future "what next" is no way to live your life especially when your getting older. People forget so quick that in 12 months there was the Embassy letter fiasco caused by Thai immigration, the fall out from that almost on a daily occurrence to basically giving 800,000baht for 6 months to a Thai bank with 400,000baht gift to the bank for life. Any one who thinks this insurance scam will not progress to all long term visa is living in cookoo land. Do you honestly think the next 12 will be smooth sailing let alone 5 or 10 years time which is what retired people need "security". ??? Sad thing is when the next immigration demand/extortion comes along the same people will try to justify it. My family and I brought millions in foreign currency into Thailand and spent it supporting the Thai economy but you can only take so much and we left. Being away from the UK for 9 years living in Thailand  has given me such appreciation of home (the UK). Just had a 350 mile RELAXING and VERY Enjoyable drive in autumn countrysid (not one did anyone try and kill us on the road, no police checkpoints every few miles looking to extort money from you) . Good luck to all who are staying in Thailand but my advice as given to me, "always have an exit plan" and "never invest more than you can afford to losd/walk away from. 

I could not agree more!

[helloagain]

16 hours ago, MadMuhammad said:

If it does become a broader implementation it will be extremely unfortunate for those that are over 65 and have got away with winging it but for those that can get insurance and don’t have it it may be a saving grace for many.
Insurance is always considered a waste of money until you need it 

It is a waste of money cos whatever you have gone to hospital for in the past you are not covered. I can afford any hospitals. So for me a waste of time. 

[fxe1200]

16 hours ago, beachproperty said:

Does an additional 400,000 baht to the already 800,000 in the bank....qualify so no need for insurance?

Good idea!!

[Geoffggi]

What I fail to understand is the reported sums of money supposedly owed to hospitals by ex-patriate people, from my reading of various reports these are not long term ex-pats but are indeed holiday makers, but of course the government is reluctant to say this as it would hit the Chinese & Indian tourism numbers if they extended medical insurance to cover all short term visitors.

[Sheryl]

Currently paying into the social security scheme here. Is it OK to assume that I am covered, even if I quit and still pay into the scheme?
 
I know I will be covered by a government hospital which may slow things down a little, but if I need to, I can pay more to get the help I need. 
 
Am I good to go, kind of thing? [emoji846]

At present as the rules contain no exception for people covered by SS. However it does not sound like you are here on an O-A visa so no implications for you.

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

[Sheryl]

I have no knowledge of any insurance here which is lifetime ( I could be wrong). I have my insurance policy with Pacific Cross, insured for 10 million. OPD is actual charges and IPD is up to 10 million. At 57 am paying a premium of approximately 70,000 per year. This insurance will cease at the age of 90. Have a friend who spent more than 3 million on getting treated for cancer here. He is okay now but financially in a bad shape as he was 'self insured'. I personally would not be comfortable taking that risk for such a paltry amount every year. Better to be at peace.....

Are you sure? Pacific Cross policies as far as I know guarantee renewal to age 99.

Most international policies guarantee lifetime renewal. This id less common with Thai policies but there are some including among the companies on the longstay.tgia list. Pleade see pinned thread in the Health Forum.






Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

[Chongalulu]

17 hours ago, SteveK said:

Just look at Kev-in-Thailand. One day he gets a bit of indigestion. Goes to the doctor - oesophageal cancer. No insurance. Has cost him over 1.6 million in treatement so far. He's 58 years old. 400k is not enough.

Indeed,the money that could have been diverted from the pointless 40k outpatient cover would have bought a more realistic limit 

[aussieinphuket]

i will just make one comment,

 

its your decision to come or not to come, remember thailand is one of the only countries that will allow you to move here under certain conditions ..

 

i am not standing up for them but how many of your own countries would allow foreigners int he same way...

 

its not all one-sided....

 

i am fortunate when i moved here i took insurance for my wife and i and it has been used extensional for my wife, yes its not cheap i think we pay around thb150,000 or maybe more per year for both. but my wife had a full hip replacement done recently and the cost for close to 1 million thb which the insurance company paid... 

 

[jesimps]

17 hours ago, SteveK said:

Just look at Kev-in-Thailand. One day he gets a bit of indigestion. Goes to the doctor - oesophageal cancer. No insurance. Has cost him over 1.6 million in treatement so far. He's 58 years old. 400k is not enough.

Was he able to self insure like a lot of us here? If so, then he could pay out of savings. If I'd had insurance for the nearly 13 years that I've been here, I'd have paid out more than Kev's 1.6M. All money down the drain. I went to my local hospital yesterday with a painful knee. The total cost of seeing the doctor and prescription was 130 baht. I had to wait an hour, but so what, I had to do that in UK. If I was paying a premium of 150,000 baht a year I'd be almost hoping it was something serious to get my money back!

Edited October 22, 2019 by jesimps

[lapamita]

18 hours ago, mokwit said:

This is : "No country for old men"

..and even more

" No country for young man "

[murraynz]

i agree that elderly expats ,should have some form of insurance, or sufficient funds to cover, in case of accident or ilneess..

but the real problem arises when an 'over 65yr old', makes a claim....

the insurance company dreams up a reason why he is .not covered,.

its very very risky giving insurance companies lots of money, then getting nothing in return,when help is needed..

insurance companies are always happy to take your.ever increasing. premiums, but actually paying out on a claim--is an entirely different story......beware.....