Do You Need Health Insurance for the LTR Visa? Alternatives Explained

No, not necessarily.

Thailand’s LTR visa uses a choose-one-of-three common financial security requirement: medical insurance is only one path — you can also use qualifying Thai Social Security, or a bank deposit as an alternative.

But each of the three options has a clear threshold, and it isn’t something you prove once on application day and then forget about. BOI officially and explicitly requires that every condition and requirement must be maintained for the entire validity of the visa, specifically naming bank account balances and insurance coverage.

So the real question to answer is not:

“Do I need to buy health insurance for LTR?”

But rather:

**”Of the three paths — health insurance, Thai Social Security, and a bank deposit — which one do I qualify for, and which one is practical to maintain continuously while holding LTR?”**

First, the Structure: Choose One of Three for the Common Financial Security Requirement

All four LTR principal-applicant categories — Wealthy Global Citizens, Wealthy Pensioners, Work-from-Thailand Professionals, and Highly-Skilled Professionals — must meet the common financial security requirement.

The three current options are:

These three are alternatives — meeting any one of them is sufficient; you don’t need to buy insurance, join Social Security, and keep a USD 100,000 deposit all at the same time.

Option One: Medical Insurance Is More Than Just “USD 50,000 of Coverage”

If you choose the medical insurance path, the core threshold is coverage of no less than USD 50,000.

But BOI’s current Required Documents are more specific than a single coverage amount: the policy must cover hospitalization and medical treatment in Thailand, and must have at least 10 months of remaining coverage at the point of eligibility endorsement; travel insurance is not accepted. If a group medical insurance policy is used, each insured person must individually have at least USD 50,000 of coverage.

So you can’t just look at a policy that says:

Coverage: USD 50,000

and immediately assume it satisfies LTR.

What actually needs checking is:

What is covered, how much coverage time remains, whether it is a genuine medical insurance policy, and whether the documentation can clearly prove that the Thailand medical coverage meets BOI’s requirements.

Can the Policy Be Submitted Later?

BOI’s current documentation also allows applicants to temporarily not submit medical insurance at the initial stage, provided they first sign a Document Request Acknowledgement Form; at the relevant government agency’s review stage, qualifying insurance documents will still be required.

So this isn’t “you can be approved without insurance” — it’s that the insurance documentation can be submitted at a later, specified stage.

Option Two: If You Already Have Thai Social Security, You Don’t Need to Also Buy Health Insurance

The second path is valid Thai Social Security.

What BOI looks at isn’t simply “having once had a Social Security number,” but proof that you currently hold valid social security coverage for hospitalization and medical treatment in Thailand.

Current documentation cites proof such as recent months’ SSO contribution records together with the company’s submitted employee list, or an SSO card.

This path is especially straightforward for people who are formally employed in Thailand and continuously enrolled in the social security system.

But if you are not actually an insured person under Thailand’s social security system, you cannot simply treat “Thailand has a social security system” as your own qualifying option.

Option Three: If You Don’t Buy Insurance, You Can Use a USD 100,000 Bank Deposit

If you don’t use medical insurance or Thai Social Security, the principal applicant can use a bank deposit.

The threshold has two parts, and both must be met together:

A deposit of at least USD 100,000, plus that deposit already maintained for at least 12 months.

BOI’s 2025 updated materials explicitly state that the relevant deposit can be held in a Thai or overseas bank account; the formal condition requires the account balance to be held and maintained by the applicant personally.

So this path is not:

“Transfer USD 100,000 into an account the day before applying.”

Because even if the amount is met, the 12-month holding period would not yet be satisfied.

Nor is it:

“I have USD 100,000 in stocks or funds, so that’s equivalent to a deposit.”

Current Required Documents explicitly exclude investment portfolios; the latest documentation for WFTP and Wealthy Pensioner even further states that investment portfolios and fixed deposits are both not accepted. Different categories should follow the latest Required Documents applicable at the time of their application.

So before choosing the deposit path, what needs confirming is BOI’s required bank deposit / bank account balance, not a broad assumption that any financial asset counts.

Insurance, Social Security or a Deposit — How Do You Choose?

None of the three paths is institutionally “better” — the main difference is what you already have.

If you already have qualifying Thai Social Security, you generally don’t need to separately build an insurance or deposit record just for LTR.

If you don’t have Thai Social Security but medical insurance is easy to obtain, the deposit path’s biggest advantage is not needing to keep a separate USD 100,000 tied up in a bank account long-term to prove this qualification.

If medical insurance is difficult to arrange due to age, pre-existing health conditions, premiums, or underwriting terms, a bank deposit provides another explicit alternative path — at the cost of needing to build up a 12-month funds record in advance, and having that bank balance also fall within BOI’s ongoing maintenance requirement.

So, in essence, these are two different kinds of qualifying cost:

The insurance path leans toward an ongoing coverage cost; the deposit path leans toward tying up funds.

Which is more suitable should be decided based on actual premiums, liquidity needs and your own eligibility situation — not simply by comparing “which number is smaller.”

Not sure which option fits your situation? ask Zagdim to help you work through it.

Dependents Also Need Their Own Coverage Arrangement

This is a detail that’s especially easy to miss when applying as a family.

Dependents do not automatically share the same qualification just because the principal applicant meets the common financial security requirement. Each dependent must independently meet their own coverage condition.

The same three paths apply:

At least USD 50,000 of medical coverage; or valid Thai Social Security; or an additional bank deposit of at least USD 25,000 per dependent, maintained for at least 12 months.

The deposit can be held in an account under the main LTR holder’s name, or in the dependent’s own account; BOI’s current announcements also allow Thai or overseas bank accounts.

For example, if a family chooses the bank deposit path, you cannot simply prepare the principal applicant’s USD 100,000 and assume that automatically covers the spouse and other dependents.

The dependent’s USD 25,000 is an additional, per-person coverage requirement.

The Scope of Eligible Dependents

For LTR purposes, an eligible dependent is currently the LTR holder’s legal spouse and children under 20, with a maximum of 4 dependents in total per principal applicant.

BOI has announced plans to expand this scope to include parents and remove the numerical cap, but the change awaits implementation by Thailand’s Ministry of Interior and is not yet in effect.

For family financial planning, it is more practical to calculate directly based on actual number of dependents × the coverage method for each person.

After Getting LTR, Coverage Cannot Simply Be Stopped

This is another of the most important timing issues in this whole topic.

BOI’s official page states it clearly:

“Every condition and requirement must be maintained during the length of the visa, including investment amounts, employment status, bank account balances, and insurance coverage.”

So whichever you choose — medical insurance or a bank deposit — neither should be understood as something you prove once at application and then you’re done.

If You Choose Medical Insurance

Insurance coverage is itself one of the officially listed ongoing maintenance items.

So it shouldn’t be understood as:

“Buy one year of coverage before getting LTR, then cancel once the visa is issued.”

If you later want to change policies, switch to Social Security, or switch to deposit-based coverage, you should first confirm how the new arrangement connects with your existing qualification.

If You Choose a Bank Deposit

Bank account balances are likewise explicitly listed by BOI.

This is also why “already held for 12 months” cannot be directly taken to mean:

“In month 13 you can withdraw the entire USD 100,000.”

The 12 months is part of the application threshold, and the bank account balance separately falls within the maintenance requirement during the visa’s validity.

The specific handling of moving funds or changing your coverage method follows BOI’s case-by-case determination.

“12 Months” and “Maintained During the Visa” Are Two Different Levels

These two points are easily conflated.

Level one: at the time of application

Choosing the bank deposit path requires proving that the USD 100,000 has already been maintained for at least 12 months.

Level two: after obtaining LTR

BOI also requires all conditions to be maintained during the visa’s validity, and bank account balances are one of its explicitly listed examples.

So:

The 12 months answers “did you meet the deposit condition at the time of application”; ongoing maintenance answers “does this qualification still exist after you obtain LTR.”

These are not the same time requirement.

A Few Common Misunderstandings

“Applying for LTR always requires buying medical insurance.”

Not true.

The common financial security requirement is choose-one-of-three: medical insurance, valid Thai Social Security, or a qualifying bank deposit. Meeting any one of them is sufficient.

“Any USD 50,000 travel insurance policy will do.”

Not true.

BOI’s Required Documents explicitly state that travel insurance is NOT accepted. Medical insurance must cover hospitalization and medical treatment in Thailand and meet other documentation requirements such as remaining coverage period.

“Having USD 100,000 saved up is enough to apply.”

Not quite.

You must also meet the at-least-12-month maintenance period.

“Stocks or funds worth USD 100,000 are equivalent to a bank deposit.”

They cannot be treated as equivalent.

BOI’s current documentation explicitly excludes investment portfolios; some of the latest category documents also exclude fixed deposits.

“A dependent shares the same coverage as the principal applicant.”

Not true.

Dependents must also meet their own coverage requirement; if using the deposit path, each dependent adds USD 25,000.

“Once you get LTR, you can cancel the insurance or withdraw the deposit.”

That’s not the right way to understand it.

Both insurance coverage and bank account balances are within BOI’s explicitly listed ongoing maintenance items.

FAQ

Q1: Do I have to buy medical insurance to apply for LTR?

Not necessarily.

You can choose one of the following three:

Medical coverage of USD 50,000 or more, valid Thai Social Security, or a bank deposit of USD 100,000 maintained for at least 12 months.

Q2: What exactly does the USD 50,000 medical insurance requirement mean?

Current BOI documentation requires coverage for hospitalization and medical treatment in Thailand of no less than USD 50,000, with at least 10 months of remaining coverage at the eligibility endorsement stage; travel insurance is not accepted.

Q3: Does the insurance have to be a local Thai policy?

BOI’s core documentation requirements focus on the coverage content, amount, validity period and supporting documents; formal acceptance still depends on the actual policy and BOI’s review.

You should not decide this based solely on where the insurer is registered.

Q4: Can the deposit be held in an overseas bank?

Yes.

BOI’s current announcements allow a qualifying deposit to be held in a Thai or overseas bank account, but it must meet the requirements for personal ownership, amount, and the 12-month maintenance period.

Q5: Can the USD 100,000 be stocks or an investment portfolio?

Current Required Documents do not accept an investment portfolio as proof for this bank deposit requirement; some of the latest category documents also explicitly state that fixed deposits are not accepted.

So you should check the current Required Documents for your specific LTR category.

Q6: Do dependents also need to buy USD 50,000 of medical insurance?

Not necessarily.

Dependents can likewise choose between medical insurance, Thai Social Security and a bank deposit; if choosing the deposit path, each dependent must add at least USD 25,000 maintained for at least 12 months.

Q7: Can a family’s deposit be held in the principal applicant’s account?

A dependent’s USD 25,000 deposit can be held in the name of the principal LTR applicant/holder, or in the dependent’s own name, and must meet the corresponding 12-month holding requirement.

Q8: Can medical insurance be stopped after getting LTR?

BOI explicitly lists insurance coverage as one of the conditions that must be maintained during the visa’s validity.

If you plan to stop your coverage or switch to another method, you should confirm the transition arrangement with BOI first.

Q9: The deposit has already been held for 12 months — can I withdraw it after approval?

You cannot draw that conclusion just from the “12 months.”

The bank account balance itself is also one of BOI’s listed ongoing maintenance items, so if you need to make a major withdrawal of funds being used as your LTR coverage, you should first confirm the impact on your eligibility.

Disclaimer

This article is general information and does not constitute immigration, legal, investment, medical or insurance advice.

The medical insurance, Thai Social Security, bank deposit, dependent coverage, and ongoing visa-validity maintenance requirements for the LTR common financial security requirement are subject to the Thailand Board of Investment’s (BOI) LTR official website, the Required Documents applicable at the time, and case-by-case review.

Document requirements may differ further by LTR category regarding bank proof, insurance documents and other forms of evidence; check the latest version applicable to your category before formally applying.

Information current as of September 2026.

Have a question about this guide? Leave a comment below, or ask Zagdim directly.

Sources

• Thailand BOI LTR official website — the common financial security requirement across the four LTR categories, and the principle that “every condition and requirement must be maintained during the length of the visa.”
• BOI Announcement No. Por. 3/2568 — USD 50,000 medical coverage, USD 100,000 principal applicant deposit, USD 25,000 dependent deposit, and the requirements for Thai/overseas accounts and the 12-month period.
• BOI 2025 LTR Eligibility Brochure — the common financial security requirement and the updated scope of dependent eligibility.
• BOI Required Documents — medical insurance of at least USD 50,000, at least 10 months of remaining coverage, travel insurance not accepted, and bank deposit documentation requirements.
• BOI Dependent Required Documents — dependents’ medical coverage, Social Security or USD 25,000 deposit requirements.

Further Reading

1. Highly-Skilled Professional LTR: application conditions, process, fees and FAQ
2. Wealthy Global Citizen LTR: application conditions, process, asset requirements and FAQ
3. Work-from-Thailand Professional LTR: application conditions, income standards and FAQ
4. Wealthy Pensioner LTR: application conditions, process, fees and FAQ