Securing The Future Of Your Mia Noi ; How ?

[THAIPHUKET]

Assume you have been in a very good, trusting relationship with your Thai partner for a number of years.

Assume you will not marry her, i.e no pension rights. No kids, no property so far.

How to secure her financial future after you are dead??

Life insurance on yourself, if so Thai or foreign insurer?

What else ??

What did you do??

[stephaniee]

whats a mia noi? do you already have a primary wife but want to make sure your mistress is taken care of?

Edited September 4, 2008 by stephaniee

[Cobalt60]

<deleted> dont go the life insurance route, you will be dead before you know it

[dotcom]

Great question.

I bought an annuity at Bangkok Bank. 1,000,000 baht with mia noi as benefic.

The fear I have is that if wife #1 found out about it - she might go after that.

[Guest Bellini]

If it were a true mia noi I would suggest that you have your mia luang deal with this question. But it seems that you are not married and therefore I shall refer to the lady as your companion.

One thing you could do is buy your companion some gold or diamond jewellery once in a while.

Another possibility is a life insurance, but on HER life, not yours. Many insurance companies, and now even banks, offer a combination of life insurance with savings accrual. After a few year years, the cash value of the insurance starts to exceed the cumulative total of paid premiums. The duration of the contract is for a specific number of years, which you can chose. You pay the monthly premiums. At any time, your companion can choose to collect the cash value of the insurance, which she might do if you die because she can’t afford to continue to pay the premiums, or because the two of you split up and you stop paying the premiums. In other words, you don’t have to die for her to benefit from the insurance. If your companion lives to the end of the contract, with you having paid the premiums all this time, she will collect a lump sum that is substantially higher than the sum total of all premiums paid. Make yourself the beneficiary of the insurance in case of death and if she should die before the termination of the contract you would collect the sum specified in the contract.

I saw an offer of this type of insurance/savings combination when I was in a branch of Bangkok Bank last month, but other banks probably offer it, too.

[Nampeung]

Oh cool what about a Samee Noi as well please - for the ignoramouses who can't speak Thai that means small husband

[grapetable]

Op! you dont have a Mia Noi or even a Mia.............she is just a gf...............important distinctions

Dot com............if major wife finds out I dont think you will feel much hehehe.............You like living on the edge of a razor blade?

I admire your bravery... or is it something else?

[jetjock]

Op! you dont have a Mia Noi or even a Mia.............she is just a gf...............important distinctions

Dot com............if major wife finds out I dont think you will feel much hehehe.............You like living on the edge of a razor blade?

I admire your bravery... or is it something else?

There is a very thin line between bravery and stupidity but many seem to overcome it ! (even including myself unfortunately)

[a2396]

Insurance policy with Thai lady as beneficary? Anyone suggesting that needs to have their head examined. Otherwise, a lot more information would be usefull - how long you have know her, where do you live - where does she live, what are your ages, does she have a job - children - needy parents, why are you not considering marriage, etc, etc.

[JSixpack]

Great question.

I bought an annuity at Bangkok Bank. 1,000,000 baht with mia noi as benefic.

Tell us more about the annuity, or do you just mean regular old life insurance? An annuity that pays out monthly, that she can't cash and blow on gambling and parents, would be fine.

Edited September 5, 2008 by JSixpack

[anthonyu]

Buy her a 20 year government bond. she can live off the coupon payments and if things get really hairy she can sell the whole thing...hopefully after you've passed on or else you'd probably have to buy her another one!

[toybits]

Ha ha!!! Having a Mia Noi is Baaad Luck. Express ticket to doom and gloom.

If she means so much to you that you would like to ensure that she has a good future then - why not just divorce your wife and get on with your life?

Are you _tupid or what???

Assume you have been in a very good, trusting relationship with your Thai partner for a number of years.

Assume you will not marry her, i.e no pension rights. No kids, no property so far.

How to secure her financial future after you are dead??

Life insurance on yourself, if so Thai or foreign insurer?

What else ??

What did you do??

[bonobo]

Great question.

I bought an annuity at Bangkok Bank. 1,000,000 baht with mia noi as benefic.

Tell us more about the annuity, or do you just mean regular old life insurance? An annuity that pays out monthly, that she can't cash and blow on gambling and parents, would be fine.

What is being described is probably variable life insurance. It is more expensive than whole or term, but it does provide the opportunity to make money to thte point where the holder can cash out if desired.

[Naam]

Ha ha!!! Having a Mia Noi is Baaad Luck. Express ticket to doom and gloom.

perhaps that's the reason why my wife doesn't let me have one?

[willywonker]

Ha ha!!! Having a Mia Noi is Baaad Luck. Express ticket to doom and gloom.

perhaps that's the reason why my wife doesn't let me have one?

Who needs a Mia Noi when you live in Pattaya.

From reading the OP he has a girlfriend whom he wont marry, im sure she'd be distraught at being called the bit on the side.

[geriatrickid]

Many insurance companies, and now even banks, offer a combination of life insurance with savings accrual. After a few year years, the cash value of the insurance starts to exceed the cumulative total of paid premiums. The duration of the contract is for a specific number of years, which you can chose. You pay the monthly premiums.

I saw an offer of this type of insurance/savings combination when I was in a branch of Bangkok Bank last month, but other banks probably offer it, too.

Life insurance is one of the worst investment vehicles for saving. It is more effective to buy basic term life insurance and a guaranteed income instrument. Do the math. The reason the banks got into the option is because its a high profit low risk product. Look at the interest rates on those products vs. basic term deposits or GICs.

In any case, if a farang has a mia noi, he's got bigger problems. You can't burn the candle at both ends and not get burnt.

[PoorSucker]

Life insurance is a bad idea.

You might end your days the Pattaya way, accidentally fall of balcony.

[Theyreallrubbish]

The Thai way is to do nothing. These girls know they're not the primary family. They take the benefits while it lasts and know it wont last.

A friend of mine was a very (VERY) rich Thai and when he dumped his mia noi he cut off everything immediately with no pay off. She spent a couple of days crying in my office that he wasn't paying the car anymore and it was going to be reposessed, that he wasn't paying the rent and she was going to be evicted, that he wasn't paying her sisters schools fees anymore and they'd have to leave high school and university and she had no money left and couldn't eat.

Could I talk to him? (NO WAY!!!) Could I help her get a job (Not one that pays the 200k a month you need when you're 25 and have no university degree)

[THAIPHUKET]

This world is not black and white. Perhaps inconceivable for some but it is possible.

My wife and my Mia Noi know, respect each other. No jealousy , truly.

Why not simply assume I know both of them well enough to make a calculated risk assessment, be it the balcony risk or the financial risk. I gamble only with some hedges attached.

Divorce is out of the question and both know it. The age difference reflects probably the average farang/ mia noi = 30 years.

And I want to take care of both of them.

If you have some hard figures that would help to do the math.

All of your answers are very much appreciated.

[stephaniee]

are there lots of farangs with mia nois?

[wensiensheng]

One way is to put some cash or financial assets into a discretionary offshore trust. The trust deed can be written in many ways, so as to ensure that your wishes are followed after your (natural) death. It also enables you to stipulate whether your Mia Noi gets capital, income or a mixture of both. These things can be done quite cheaply these days, but you'd probably have to be putting half a million USD aside to make it worth while.

The other route is a will trust. Upon your death, your assets go to a trust and then are distributed, retained, invested according to your wishes.

Or, if you want something cheap and cheerful, set up an offshore company (about USD750), open an offshore bank account and make you and your Mia Noi signatories to the account. When you are gone, she can continue to sign on the account (because the company lives on as an entity after your death)and take whatever money is in there.

The trouble with insurance policies is the high level of costs. That's why in the first few years they are worth nothing, because all the premiums paid first go toward paying the upfront costs.

[THAIPHUKET]

Thanks, offshore company sounds good. Guess I can do this from here? Or should I rather go to Singapure ?

[bravingbangkok]

Why in the hel_l would you want to do that ? If you have a wife and if you especially have kids to go a long with the wife then why would you want to leave any money for some girl on the side, The day you die she will be slurping on fresh d**k before sundown....probably is right now.

When will people get it through their heads that Mia Nois are just a piece of pussy ! Yes take them shopping and buy them as much as you can afford and if they are really that pleasing to ya needs even pay their rent but on no account do you 1. enter into any private or family dispute they have and 2. leave them anything.

If you love them that much leave the wife and marry them.

Edited September 5, 2008 by bravingbangkok

[bravingbangkok]

The Thai way is to do nothing. These girls know they're not the primary family. They take the benefits while it lasts and know it wont last.

A friend of mine was a very (VERY) rich Thai and when he dumped his mia noi he cut off everything immediately with no pay off. She spent a couple of days crying in my office that he wasn't paying the car anymore and it was going to be reposessed, that he wasn't paying the rent and she was going to be evicted, that he wasn't paying her sisters schools fees anymore and they'd have to leave high school and university and she had no money left and couldn't eat.

Could I talk to him? (NO WAY!!!) Could I help her get a job (Not one that pays the 200k a month you need when you're 25 and have no university degree)

Exactly ! Family means more then pussy. Sorry to put it so bluntly !

[stephaniee]

mia nois are people too!

[Heng]

Mia nois are already professionals at securing their own future. They don't need your help.

[soundman]

Mia nois are already professionals at securing their own future. They don't need your help.

Yes, the few I know are securing two or three futures at the same time.

[THAIPHUKET]

mia nois are people too!

very true and I am happy that I apply such standards. My dignity is worth something and I am rewarded, handsomely.

[THAIPHUKET]

mia nois are people too!

Why is it that so many farang can only see a slut in each and every Thai woman?

Perhaps these guys themselves never come out of the social environment of bars.

I wish a few more guys would speak up who are in a normal relationship ( of course with some natural different-society-conflicts )

My question was a pure factual one related to financial matters.

[Sabum]

This world is not black and white. Perhaps inconceivable for some but it is possible.

My wife and my Mia Noi know, respect each other. No jealousy , truly.

Why not simply assume I know both of them well enough to make a calculated risk assessment, be it the balcony risk or the financial risk. I gamble only with some hedges attached.

Divorce is out of the question and both know it. The age difference reflects probably the average farang/ mia noi = 30 years.

And I want to take care of both of them.

If you have some hard figures that would help to do the math.

All of your answers are very much appreciated.

Well I for one applaud you, you seem to have a good grasp of the situation and maybe accept that the love you receive is in return for payment and are totally kool with that. But setting up your 2 women to get rich after you die is a HUGE temptation for murder, I dont care how well you think you know your mia noi. If you want to do something like that I would keep it a secret.