How to provide “annuity-like” income stream to Thai citizen?

[stigar]

20 minutes ago, Neeranam said:

What bank?

 

I'd like to do this to my kids

SNN.NO

[JourdanA]

On 2/1/2022 at 8:12 PM, Paulaew said:

Another way to do it is to purchase an annuity from one of the insurance companies here and see if you can find one that will accommodate your terms.

Thanks Paul. Purchasing an annuity from a Thai insurance company would solve the problem. But I've not found a Thai insurance company that sells annuities. Can you please refer me? Regards

[JourdanA]

 

On 2/1/2022 at 8:46 PM, Paulaew said:

a staid bank or insurance company or law firm in Thailand to handle this for him.

Can you refer such an insurance company or law firm, please.

[scorecard]

On 2/2/2022 at 11:12 AM, Paulaew said:

Yes, good point about the time limits on auto transfers from banks. You would need to be around to update the transfer settings.

 

Another way to do it is to purchase an annuity from one of the insurance companies here and see if you can find one that will accommodate your terms.

 

Paul Laew

And perhaps check if it can incorporate other products:

 

- Health cover

- Personal accident cover

[JourdanA]

On 2/1/2022 at 9:02 PM, blackcab said:

I know of at least one extremely reputable Thai company that offers this service, however their fees average around 10 per cent up front and then a small monthly fee.

Thanks. Do you mind sharing contact information for this extremely reputable Thai company? Fees seem reasonable for a reputable company. Regards.

[scorecard]

15 minutes ago, JourdanA said:

Thanks Paul. Purchasing an annuity from a Thai insurance company would solve the problem. But I've not found a Thai insurance company that sells annuities. Can you please refer me? Regards

Suggest you call Tokio Marine TM (Bkk HO not a regional office) and see what they have. Plenty of English and no push to sign up.

 

Ignore the 'marine' word in the company name, that's anciety history.

 

TM is the biggest life, health, personal acccident, ??? company in Japan and very secure. They have many products.

 

They have many products. My son has a pension plan with them and endowment/long-term savings plans for his 3 kids and his wife, family health insurance, personal accident was added at no cost.

 

They also have vehicle, house/contents policies etc.

 

Good luck.

Edited February 9, 2022 by scorecard

[Paulaew]

34 minutes ago, JourdanA said:

Thanks Paul. Purchasing an annuity from a Thai insurance company would solve the problem. But I've not found a Thai insurance company that sells annuities. Can you please refer me? Regards

The insurance companies I looked at here just seem to offer "retirement annuities" which are really a life insurance product.

 

You best bet is to contact the largest banks in Thailand that have investment divisions -- Bangkok Bank and Kasikorn Bank. They might be able to help you.

 

The Bangkok Bank call center is +66 2 645 5555

 

The Kasikorn Bank call center is +66 2 888 8888

 

If the customer service agents are not helpful (entirely possible, since you're looking for a specialized product), then tell them you want to talk to an investment advisor.

 

Paul Laew