Help needed

[owl sees all]

Had this slip of paper delivered the other day. The Mrs says we have to pay 1200 baht due to many people dying. Can't get my head around it. Could anyone help to decipher the paper?

 

And has anyone had similar?

 

 

 

[jak2002003]

What is that....a funeral plan?  

 

 

[Dmaxdan]

We have never had a bill like that but we do have to pay 150 baht everytime someone dies in our village. Even if they live elsewhere but are connected to a local family, we still have to pay.

It's all about helping to fund the funeral.

My understanding is that this procedure is normal for Thailand. Although these schemes may vary from region to region with regards to how much you have to pay etc.

[owl sees all]

3 hours ago, jak2002003 said:

What is that....a funeral plan?  

 

 

I just don't know. Waste of time asking the Mrs. Who gets the dosh?

 

But many thanks for helping.

[Kopitiam]

3 hours ago, jak2002003 said:

What is that....a funeral plan?  

 

 

The dates are all wrong. Scam?

Edited November 14, 2022 by Kopitiam
completeness

[owl sees all]

3 hours ago, Dmaxdan said:

We have never had a bill like that but we do have to pay 150 baht every time someone dies in our village. Even if they live elsewhere but are connected to a local family, we still have to pay.

It's all about helping to fund the funeral.

My understanding is that this procedure is normal for Thailand. Although these schemes may vary from region to region with regards to how much you have to pay etc.

I've been in the village for over 14 years, and this is new to me. Where does the money go? Is it payable to the farmers bank, or is it kept safe by the village boss?

 

I've just spoken to the Mrs, and she says that so many have died the 'government' fund is very low. Nothing to do with our insurances at the Framers Bank. Although the sign on the top left looks like a bank emblem.

[owl sees all]

10 minutes ago, Kopitiam said:

The dates are all wrong. Scam?

 

You are right. Both dates are a bit iffy. The 1825 one and 2012 also.

 

If it was from a bank, I don't think the dates would be like this.

Edited November 14, 2022 by owl sees all

[owl sees all]

The wife has just spoken to someone about this. Evidently it is an extra payment for anyone who has a life insurance at the Farmers Bank. We have two, one on the wife and one on her mother.

 

No idea about the incorrect dates; if indeed they are incorrect. Could the 2012 one be when we took out the life insurance?

 

Think it best for wife to call on the appropriate number (at the bottom of the letter).

[Kopitiam]

59 minutes ago, owl sees all said:

 

You are right. Both dates are a bit iffy. The 1825 one and 2012 also.

 

If it was from a bank, I don't think the dates would be like this.

After using Google Lens, the dates are stated as 5 October 2022 and 31 December 2022.  Seems current and legitimate.

[owl sees all]

16 minutes ago, Kopitiam said:

After using Google Lens, the dates are stated as 5 October 2022 and 31 December 2022.  Seems current and legitimate.

Thanks for that Kopitiam. With the member's help. I'm getting closer and closer to understanding what it's all about.

 

We have two life insurances with the bank. Because of 'unexpected' deaths - above the norm - there is a sir-charge. I have to find 2400 baht for the two agreements with the bank. Not moaning (much) about it. As long as it's legit, I'll pay up willingly.

 

Still not sure what the last paragraph is about. I think that if a person had claimed the death money, they have to give extra.

Edited November 14, 2022 by owl sees all
Misspelt the poster's name.

[taotoo]

I wonder whether they give rebates when fewer than expected people die.

[owl sees all]

1 minute ago, taotoo said:

I wonder whether they give rebates when fewer than expected people die.

That's a good point Tootoo.

 

In my book an agreement is an agreement. Obviously there was/is 'small print' that I didn't know about.

[themongoose]

According to my wife, this kind of policy is very common. As you say it is for insurance policy for funerals, for village cooperative. You will have bought the policy as in the past, and every time someone who is a member has died then the fund will pay for the funeral, correct.

 

The reason for the letter is that now the insurance fund is exhausted, after the coperative have spent all the funds. "too many people died" suggests that it all happened at once, which is not quite correct, but part of the problem:

 

These co-operative insurances are very common and also it is very common that they go bankrupt. It is most likely the case that they have not attracted enough "new members", and as there are fewer and fewer surviving members, the ones who remain have to fork out extra payments as the funds runs out in order to stay members, if the costs of covering funerals are higher than anticipated, or as is more likely, the plan was run on the assumption that a certain number of new members would join which has not happend. (something of a  pyramid-scheme death-pool).

 

If you can afford your own funeral plans with your own savings, you might find it more beneficial to leave the scheme. In these scheme you won't get your payments back, but it still could be better overall depending on your circumstances.

Edited November 14, 2022 by themongoose

[kokesaat]

The letter is from the Customer Welfare Cremation Association BAAC. Ban Dung District.  

As I understand the system (having been here for 26 years), if you want to join, you join, you pay, and when you die, you get some financial assistance toward your funeral.  If you have a private policy with a bank, you're not under any obligation to join a village/community fund.  We have never joined, and never been under pressure to join.  The 1200 baht mentioned is paid upfront......I guess 100 Baht per month.  

The Association is nationwide....  https://www.baac.or.th/cremation/?page_id=181   .......to the best of my knowledge, the Udon office is across from Siam Commercial Bank on Phosri Rd.

There was some recent press about the public having questions about the health of the Udon fund......but I'm not sure what became of it.

 

 

[kokesaat]

To add to my post above, I think it's best to think of the fund as a co-op.  Certainly not a bank.

[themongoose]

42 minutes ago, kokesaat said:

The letter is from the Customer Welfare Cremation Association BAAC. Ban Dung District.  

As I understand the system (having been here for 26 years), if you want to join, you join, you pay, and when you die, you get some financial assistance toward your funeral.  If you have a private policy with a bank, you're not under any obligation to join a village/community fund.  We have never joined, and never been under pressure to join.  The 1200 baht mentioned is paid upfront......I guess 100 Baht per month.  

The Association is nationwide....  https://www.baac.or.th/cremation/?page_id=181   .......to the best of my knowledge, the Udon office is across from Siam Commercial Bank on Phosri Rd.

There was some recent press about the public having questions about the health of the Udon fund......but I'm not sure what became of it.

 

 

The key issue is, that unlike similar policy "funeral plans" in Europe at least, the amount you pay in is not fixed. According to my wife, they can request further payments indefinatly if the fund requires it to stay solvent. If you do not pay the extra, then the policy is void and the amount you have paid so far may or may not be released on your death to your next of kin (need to see the policy details).

 

As with most insurance policies, it is worse value the longer you hold it, and if you can afford the cost of the funeral already, it is questionable if you need it at all.

Edited November 14, 2022 by themongoose

[owl sees all]

1 hour ago, themongoose said:

The key issue is, that unlike similar policy "funeral plans" in Europe at least, the amount you pay in is not fixed. According to my wife, they can request further payments indefinatly if the fund requires it to stay solvent. If you do not pay the extra, then the policy is void and the amount you have paid so far may or may not be released on your death to your next of kin (need to see the policy details).

 

As with most insurance policies, it is worse value the longer you hold it, and if you can afford the cost of the funeral already, it is questionable if you need it at all.

Could I get myself on the scheme?

 

Barring accidents; I'm next in line for the;;;... Wouldn't want the wife to be out of pocket - too much - when it's time to go. Might have to sell some of her accumulated gold (she don't know where mine is hidden)..

[Dmaxdan]

4 hours ago, owl sees all said:

I've been in the village for over 14 years, and this is new to me. Where does the money go? Is it payable to the farmers bank, or is it kept safe by the village boss?

 

I've just spoken to the Mrs, and she says that so many have died the 'government' fund is very low. Nothing to do with our insurances at the Framers Bank. Although the sign on the top left looks like a bank emblem.

Normally the money is collected when you attend the actual funeral.

There will be a table manned by several people taking the payments and you get a written out receipt.

But also you can pay at a later date. For this you have to go to the house of the person has been given the responsibility to collect the money. Once again you will be given a receipt.

 

[owl sees all]

23 hours ago, jak2002003 said:

What is that....a funeral plan?  

 

 

I'm impressed with this post showing the translation. How did you do it? If you don't mind me asking.

[jak2002003]

1 hour ago, owl sees all said:

I'm impressed with this post showing the translation. How did you do it? If you don't mind me asking.

I took a screen shot of the picture and then used Google lense to translate it.  It's really easy.  I use it any Thai letters / documents etc that I can't understand.  

[digbeth]

we have similar scheme at work, before the scheme, when someone or their relative dies, an envelope is passed around and whatever is collected is given, which can be unfair if someone dies in the middle of the month and most of the workforce is living payday to payday,

 

so a new scheme is made where those who opt in paid a fixed amount every month and any funeral gets a fixed payout 

 

So if too many people died in a short period of time, it's understandable the fund is insufficient to cover the payout