ExpatJ Posted October 9, 2012 Share Posted October 9, 2012 My wife and I are looking to buy life insurance. We have two kids 7, 5. Anyone here with kids bought life insurance-, how much did you buy ? Which company do you use? We wanted an amount that would cover the costs of bringing up the kids...I did a quick back of the envelope calculation and if you want to put 2 kids in private expat type schools plus then 4 years in good US university plus living costs of kids per year...you are looking at 2 million USD to cover their costs until they graduate age 23 or so!!! Obviously relying on public school will reduce costs but not always an option if living abroad.. Link to comment Share on other sites More sharing options...
soi41 Posted October 9, 2012 Share Posted October 9, 2012 That is almost 2M baht per kid/year??? Probably correct for the university part of their life, but I most certainly hope that your 2 kids are not costing you 4M/yearly now? Link to comment Share on other sites More sharing options...
fletchsmile Posted October 9, 2012 Share Posted October 9, 2012 Life insurance is expensive in Thailand as a relatively new product compared to mature western markets. You can probably get much cheaper with a policy from where you come from. Be careful if you do so though, that you being in Thailand doesn't invalidate the policy. I checked out Prudential and ING a few years back. One had a calculator on their website, they may still do. Seemed to be about 3-4 times the price of UK, so I gave it a miss. Think also of permanent disability insurance, where you become a burden to the family and don't die. This can be a double whammy. No life insurance payout and you're still living and costing even more money instead of bringing it in. Link to comment Share on other sites More sharing options...
noob7 Posted October 9, 2012 Share Posted October 9, 2012 Be careful, a high life insurance is always a high risk, too! Don't tell to much around, no reason to 'show off' with that! Link to comment Share on other sites More sharing options...
ExpatJ Posted October 9, 2012 Author Share Posted October 9, 2012 Our kids currently are in cheap ish lower end expat school ( still good though) now but many countries in the region don't have this cheaper option - it's either local school or full on expat high cost schooling. Hence the high schooling cost estimate. I guess in worst case scenario will have to consider going bAck to home country for public school option. Will do some research on US insurance companies make sure they pay out f living abroad as one of you already flagged as an issue. Link to comment Share on other sites More sharing options...
xen Posted October 9, 2012 Share Posted October 9, 2012 You have probably heard it said before but you should never make yourself more valuable dead than what you are alive. 1 Link to comment Share on other sites More sharing options...
noob7 Posted October 9, 2012 Share Posted October 9, 2012 You have probably heard it said before but you should never make yourself more valuable dead than what you are alive. Link to comment Share on other sites More sharing options...
ExpatJ Posted October 10, 2012 Author Share Posted October 10, 2012 You have probably heard it said before but you should never make yourself more valuable dead than what you are alive. Don't tell the wife Link to comment Share on other sites More sharing options...
noob7 Posted October 10, 2012 Share Posted October 10, 2012 (edited) You have probably heard it said before but you should never make yourself more valuable dead than what you are alive. Don't tell the wife To late! "My wife and I are looking to buy life insurance." But more important: Wife don't tell kids, 'cause kids tell maybe grandma/pa! And someone would have to take care the money, eh, the kids, in case bad things go wrong! Edited October 10, 2012 by noob7 Link to comment Share on other sites More sharing options...
ExpatJ Posted October 10, 2012 Author Share Posted October 10, 2012 You have probably heard it said before but you should never make yourself more valuable dead than what you are alive. Don't tell the wife To late! "My wife and I are looking to buy life insurance." But more important: Wife don't tell kids, 'cause kids tell maybe grandma/pa! And someone would have to take care the money, eh, the kids, in case bad things go wrong! Link to comment Share on other sites More sharing options...
samran Posted October 10, 2012 Share Posted October 10, 2012 Unfortunately as others have said, insurance premiums in Thailand are more expensive and the cover is low. William Russel who run our health insurance do life and income protection in the case of illness or disability. They are great on the health side so I suspect there is a good chance they are okay there too. Link to comment Share on other sites More sharing options...
AAInsuranceBrokers Posted October 10, 2012 Share Posted October 10, 2012 Not surprisingly not all Life policies are equal. AA Insurance Brokers can offer quotes for different types of Life cover depending on what is required. http://www.aainsure.net/email/get_quote_form.php Link to comment Share on other sites More sharing options...
samran Posted October 10, 2012 Share Posted October 10, 2012 Not surprisingly not all Life policies are equal. AA Insurance Brokers can offer quotes for different types of Life cover depending on what is required. http://www.aainsure...._quote_form.php do you offer offshore based insurance as well? Generally the policies seem to be better. Link to comment Share on other sites More sharing options...
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