I was only talking about financial not insurance. Insurance goes without saying. You also need the insurance to get the original O-A in your country. You don't need the 800k if you use the 65k method. I've been doing this for a number of yours now. So not wrong
The O-A only requires the financial component for extension. You can set up you bank account etc in the first year and then leave the country just before it expires and come straight back ( I went to KL for a couple of days) pre covid of course. You get another 12 months stamp. You could then start your financial deposit/deposits to prepare for extension in 12 months. If you wanted you could probably leave again and come back in on a tourist visa and then change to O Visa in country.