Retirement KITAS

flinders

Hi I am due to renew my retirement KITAS and with previous renewals I have used my travel insurance as health and life cover but now I'm being asked for specific health and life insurance. Consequently I'm looking for any recommendations where I can buy this cover locally at good rates. Thanks.

davita

Depending on age and health pre-condition specific medical insurance may not be affordable. I self-insure and my agent managed to have that accepted for my Retirement Kitas/Kitap.

DenpasarHouse

I now self-insure like Davita, but before that, this is the cheapest health and life insurance I ever found for expats. I never made a claim though, so I can't vouch for them in that regard. https://www.healthcareinternational.com

tel522

If your under 60 allianz indonesia is possible and substantially cheaper than your normal expat policy , over 60 its another problem

davita

Here's an advert I just spotted reading the newspaper..it appears to be a brokerage that searches for the best Company relative to one's needs....http://id.bestexpatinsurancedeals.com/?src=gdn

mugwump

I wish it possible to help, but have only provided actual policies myself to satisfy the requirement. Only thing I know is that there is only one claim can be made for life insurance.

davita

mugwump wrote. Only thing I know is that there is only one claim can be made for life insurance.

hahaha...I'm sure it has been attempted. I know a Californian guy that reported he'd died to avoid being taxed on his landscaping business. When he turned 65 he realized he wasn't benefitting from social security so he wrote saying he hadn't died but had amnesia...he got away with it.

flinders

I now self-insure like Davita, but before that, this is the cheapest health and life insurance I ever found for expats. I never made a claim though, so I can't vouch for them in that regard. https://www.healthcareinternational.com

Thanks DenpasarHouse, I contacted Health Care International and minimum cover for both health and life is about $5,700 per year. I am 73 years old and in good health but this is still a lot to pay.

flinders

tel522 wroteIf your under 60 allianz indonesia is possible and substantially cheaper than your normal expat policy , over 60 its another problem

I am over 60 so unfortunately Allianz is a no go.

flinders

davita wroteDepending on age and health pre-condition specific medical insurance may not be affordable. I self-insure and my agent managed to have that accepted for my Retirement Kitas/Kitap.

How does self insure work?

davita

You say you're currently in good health but your insurance, due to age, is $5,700 per year. If you don't have any problem in a year that money is wasted. If you were to put that amount in a fixed deposit (FD) after one year you will get interest and, if you add the same amount, or, whatever the insurance company demands....it will grow. Assuming you don't have any medical problems requiring insurance till you're say 78+... you'll have a little nest-egg to pay for any serious issues you may subsequently have. In addition, it's your money so you can choose what benefits you need...insurance companies are notorious for nickel and diming their beneficiaries. Basically that's what an insurance company does...it takes from the healthy and pays those not in good health and profits from the business. Check insurance companies profits...one of the best investment money can buy.

DenpasarHouse

Thanks DenpasarHouse, I contacted Health Care International and minimum cover for both health and life is about $5,700 per year. I am 73 years old and in good health but this is still a lot to pay.

Wow, that's a lot. But I don't know of any that are cheaper. You could try these guys, they've got an office on the second floor of the Lippo Mall / Siloam Hospital building. I'm not sure if they actually offer Insurance for expats though and I'm pretty sure they wouldn't offer medical evacuation. https://www.lippoinsurance.com/asuransi-kesehatan/medicare/

flinders

davita wroteYou say you're currently in good health but your insurance, due to age, is $5,700 per year. If you don't have any problem in a year that money is wasted. If you were to put that amount in a fixed deposit (FD) after one year you will get interest and, if you add the same amount, or, whatever the insurance company demands....it will grow. Assuming you don't have any medical problems requiring insurance till you're say 78+... you'll have a little nest-egg to pay for any serious issues you may subsequently have. In addition, it's your money so you can choose what benefits you need...insurance companies are notorious for nickel and diming their beneficiaries. Basically that's what an insurance company does...it takes from the healthy and pays those not in good health and profits from the business. Check insurance companies profits...one of the best investment money can buy.

Hi Davita, I totally agree with your comments but I still have the problem of complying with the KITAS requirements regarding Health and Life Insurance.

DenpasarHouse

flinders wroteThanks Davita, sounds like Plan B. In the meantime I've spoken to my agent again and has suggested trying travel insurance again.

Just be careful to read the fine print. I'm pretty sure travel insurance won't actually cover you if you're really a resident and not just staying temporarily. Though it might be enough to tick the box for the Retirement Visa.

flinders

DenpasarHouse wroteJust be careful to read the fine print. I'm pretty sure travel insurance won't actually cover you if you're really a resident and not just staying temporarily. Though it might be enough to tick the box for the Retirement Visa.

The travel insurance will probably will cover me if I buy it for 12 months and then return back to Australia at the end of the 12 months, as I do each year. But the problem is if I leave Bali during the 12 months period isn't then voided. But it is a way of getting the box ticked for the Retirement Visa and certainly less expensive then paying $5,000 for Health Insurance.

davita

I think DPH has a good point. You have to be careful where you buy travel insurance as it generally doesn't cover the country where you purchase. I.E. I'm from Canada and when I bought travel insurance from my bank in Vancouver it didn't cover Canada. Travel insurance for 12 months continuous might be hard to find or it might be very expensive....but I don't know. IMO if minimum travel insurance is enough to get your Kitas...then that's your objective. Once you have the Kitas you don't need to bother until you need to renew.

flinders

davita wroteI think DPH has a good point. You have to be careful where you buy travel insurance as it generally doesn't cover the country where you purchase. I.E. I'm from Canada and when I bought travel insurance from my bank in Vancouver it didn't cover Canada. Travel insurance for 12 months continuous might be hard to find or it might be very expensive....but I don't know. IMO if minimum travel insurance is enough to get your Kitas...then that's your objective. Once you have the Kitas you don't need to bother until you need to renew.

I return to Australia each 12 months and buy the Travel Insurance there to last 12 months whilst I'm in Bali. It will cost about A$1,000 for budget cover which includes evacuation.

davita

That sounds good, and worth having in any event, so best of luck with your agent convincing the Immigration people.

DenpasarHouse

flinders wroteI return to Australia each 12 months and buy the Travel Insurance there to last 12 months whilst I'm in Bali. It will cost about A$1,000 for budget cover which includes evacuation.

I think they'll probably pick up that you're repeatedly getting a new policy every 12 months, and if you ever made a claim, I'm pretty sure they'd enquire about what visa you're using while staying in Indonesia. Because of your age, there's just no cheap and easy option. Sucks to be old, I guess. You could revert to using a Sosial Budaya visa, and add a 6 month visa run to your yearly schedule. Just a thought.

DenpasarHouse

Just in case you haven't seen these guys before, they seem pretty cheap and you can specifically choose Bali as a destination. https://www.1cover.com.au