Hi all any news on the reduction in insurance levels required for O-A visa
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TLDR : Answer Summary
The community is inquiring about updates regarding the reduction in insurance levels required for the O-A visa. Users share that for Non-Immigrant O visas, insurance is not required, while a retirement visa necessitates a minimum life insurance cover of 3 million baht, but health insurance is flexible. There is speculation about potential changes to these requirements, with some suggesting that updates might be announced later this year, potentially starting from September 2024.
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Yes I can confirm the minimum insurance cover required for a retirement visa is 3,000,000 baht of life insurance cover. Health insurance is down to the individual. I’d like to ask, where can I get that cover as a 70 year old and at what cost please. Any quotes very welcome
the cost of insurance is much cheap compared to interest lost in a Thai bank. 👍
Max *************
Brian Gorecki In which thai bank won't you get interest on for example an FDA? A ฿3 million baht cover insurance is not considered cheap. That's probably the reason he asked about the proposed change in minimum cover.
my Thai bank does not pay any real interest, especially including the fees they charge.
My US based bank paid 3x the amount of money in interest i paid for my required insurance. I calculating ONLY the amount required to be on deposit for a non O. Pretty much that cut and dry.
That interest money on deposit in a Thai bank would have been nonexistent. Where instead it paid my rent for a quarter. 👍
You can get an insurance when on a O visa. No need to go for the O-A with a mandatory health insurance if you're thinking about extending the stay another year in Thailand. Check out Pacific Cross. A reliable insurance company with loads of affordable plans.
you can still have insurance even if you are on an O visa. I have an O-A visa but plan to switch to an O visa in 2025 but I’ll keep my medical insurance also. Good Luck
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Charles **********
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