My small hotel business in Phuket provides me with a good income which is not really constrained by my age - even when 99 years old, it will continue to provide me with an income. (It serves the busy Phuket Airport, so a supply of guests is highly likely for the forseeable future).

But if I become mentally or physically disabled to a level that I am unable to look after my business, then the hotel revenues will certainly suffer ==> less money for others to care for me.

Is there an insurance policy that will pay out a monthly sum of say $1,500 - $2,000 for my carers to look after me until my demise or possible recovery from my illness? A lump sum payout is not desired, since the carers might be tempted to grab it and run!

Any information is very much appreciated.

Simon

Yes, there is. Just take into account the the premiums for these kind of insurances are high and/or the pay-out is limited.

Contact sponsor AA Insurance Brokers, they'll be able to help you.

Make sure it accounts for inflation too.

An interesting question with different options.

Obviously the easiest is what is called ‘Key Man’ insurance which most companies have for their main (key) employees. However this pays out a lump sum which you say you do not want.

There is ‘Disability’ insurance which will pay out daily/monthly and this can continue to you are 65 - when your pension kicks in. This is a low cost option normally to medical polices e.g. for a 50 year old the premium is $347 (US) per year and that will pay $50 (US) a day after a period of time.

I really will not have any pension to speak of, which is one reason why I operate this type of transit hotel business - it has an almost-guaranteed flow of customers.

Can you tell me more about the key-man insurance? For sure, that is exactly what I am in the business!

The key man pays out a lump-sum, Is there any mechanism to 'convert' that lump-sum into a monthly payment (via a trust perhaps?)

Simon

There is no trust entity in Thailand -- sounds what you are describing is closer to an annuity than insurance in that the probability that you will grow old is reasonably certain barring the unforeseen.

There is no trust entity in Thailand -- sounds what you are describing is closer to an annuity than insurance in that the probability that you will grow old is reasonably certain barring the unforeseen.

Is there not a possiblity the OP can buy the kind of product he needs in the UK.

Best insurance would be to find someone who actually cared for your wellbeing other than for money. Just my 2 cents.

Best insurance would be to find someone who actually cared for your wellbeing other than for money. Just my 2 cents.

Well, that could be a thankless task.

By 'carers', I do not mean family members. I am single and prefer to remain that way. Carers means paid staff/helpers.

Simon