Hello, can anyone recommend life insurance?

Im 53.

I have health insurance through my work so don’t need that.

Something like pay x baht a month and the value increases if I live to 70 I get a lump sum.

if I die at 55 or 65, my wife gets at least 10 million baht. I have only asthma and diabetes history but not serious.

Perhaps addressing your query to an insurance broker might prove a little more productive.

What citizenship do you have?

20 hours ago, SamSaraburi said:

Hello, can anyone recommend life insurance?

Im 53.

I have health insurance through my work so don’t need that.

Something like pay x baht a month and the value increases if I live to 70 I get a lump sum.

if I die at 55 or 65, my wife gets at least 10 million baht. I have only asthma and diabetes history but not serious.

Good luck with that and a lump sum????

Krunsri has some insurance vehicles.

1 hour ago, jwest10 said:

Good luck with that and a lump sum????

Isn't that exactly what life assurance policies DO provide?

9 hours ago, jwest10 said:

Good luck with that and a lump sum????

Why

11 hours ago, Etaoin Shrdlu said:

What citizenship do you have?

Brithish and Australian

8 hours ago, Moonlover said:

9 hours ago, jwest10 said:

Good luck with that and a lump sum????

Isn't that exactly what life assurance policies DO provide?

Yes, but the OP was asking about life insurance, which is a policy that generally only pays out on the insured's death, not life assurance that has an investment aspect that can pay out at the end of the policy term, not just on death.

On 6/2/2025 at 6:01 PM, SamSaraburi said:

Something like pay x baht a month and the value increases if I live to 70 I get a lump sum.

if I die at 55 or 65, my wife gets at least 10 million baht.

You're referring to a life assurance policy to age 70 with a death benefit of B10m+ and, as someone else has posted, you need to speak to a broker who can advise about different providers, costs and benefits.

7 hours ago, SamSaraburi said:

Brithish and Australian

 

OK. Then you should not have the same issues that Americans have with respect to whole life policies. There are potential tax and reporting implications and some Thai insurers won't sell certain life products to Americans.

 

Good luck.

10 hours ago, Liverpool Lou said:

Yes, but the OP was asking about life insurance, which is a policy that generally only pays out on the insured's death, not life assurance that has an investment aspect that can pay out at the end of the policy term, not just on death.

No you're wrong. Read his post again. The O/P said: 

 

'Something like pay x baht a month and the value increases if I live to 70 I get a lump sum.

if I die at 55 or 65, my wife gets at least 10 million baht'. 

 

That's what I know as an endowment policy and they are a popular savings vehicle here in Thailand. The O/P, as I've already suggested should contact a reputable insurance broker who can assess his needs and make recommendations. 

4 hours ago, Moonlover said:

No you're wrong. Read his post again. The O/P said: 

 

'Something like pay x baht a month and the value increases if I live to 70 I get a lump sum.

if I die at 55 or 65, my wife gets at least 10 million baht'. 

 

That's what I know as an endowment policy and they are a popular savings vehicle here in Thailand. The O/P, as I've already suggested should contact a reputable insurance broker who can assess his needs and make recommendations. 

Yes, whole life I think it is called.

Bought one with my wife as beneficiary when we were newly married to fund a goodbye gift if that was necessary.

 

I did get asked to provide my passport and U.S. Social Security number a few months ago, so yes life insurance companies are concerned with the U.S. tax man.

 

Of note is that the payout is exempt from the Thai inheritance tax act and income taxes:

 

https://www.rd.go.th/english/37749.html#section42
Section 42 The assessable income of the following categories shall be exempt for the purpose of income tax calculation:
13) Compensation against wrongful acts, amount derived from insurance or from funeral assistance scheme.

7 hours ago, Moonlover said:

17 hours ago, Liverpool Lou said:

Yes, but the OP was asking about life insurance, which is a policy that generally only pays out on the insured's death, not life assurance that has an investment aspect that can pay out at the end of the policy term, not just on death.

No you're wrong. Read his post again. The O/P said: 

No you're wrong saying that I am wrong.  

2 hours ago, SamSaraburi said:

Yes, whole life I think it is called.

Whole Life is not the same as an endowment policy.

Ok, thanks.