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Services
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Your insurance needs in Panama |
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By Jorge del Río
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If your visit to Panama is prolonged or if you are planning to live
here, you will need insurance for your personal and property needs.
In following editions, we will analyze the characteristics of each
insurance policy offered in Panama, according to your needs.
Medical insurance
Medical insurance is of prime interest among new arrivals. To acquire
medical insurance, first, you neeed to have a budget, and be below the
maximum age of admission. That, in some cases, is 63 years old. Also,
it is important to be in good health to be able to continue to pay the
insurance plan options.
Medical insurance can vary according to your different needs. There are
plans that offer local or international coverage, and some include
plans that work along with approved networks and established doctors,
laboratories, hospitals, and clinics where usually the policyholder
performs what is called a co-payment, or the basic sum of money paid to
receive the service, since the other expenses incurred are charged
directly to the insurance company.
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Read more...
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In Good Hands |
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Good medical treatment is similar to insurance, you hope you won't need it, but it's good to have. Panama City has several very good hospitals; once outside of the city the quality may be a bit more questionable.
Here's some information on one of the most reputable hospitals in the capital:
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My Money |
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Panama is an International Banking Center, the most modern and
successful in Latin America. It offers investors over 100 Banks from more
than 32 countries around the world. Banks from Asia, Europe and the Americas carry out their
operations to and from Panama, not only as a
consequence of the favorable environment established by the Banking Law, but
also due to a series of comparative advantages facilitating banking activity.
Included among these are the use of the US dollar as legal tender, the free
flow of capital, the attractive monetary policy and other aspects of the legal
environment.
Ok,
but where do you put your money or who can you ask for money?
With
all of the money laundering and other illicit activities going on in the world,
banks have to be very careful about who they deal with. You and I both know, you're a legitimate law
abiding citizen, but that guy at the bank doesn't know you from Adam.
So
in many cases, you can get your local bank to contact a Panamanian bank to help
out with necessary reference letters and what have you. You can also get a Panamanian lawyer to help
you set up a Panamanian account.
There
are also some Panamanian banks that provide financing for foreigners; here are
a few:
Scotia
Bank
HSBC
Banco
Continental
Happy
Banking!
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Better Safe then Sorry |
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Insurance is no different abroad; it's better to be caught with it, than
without it. Once you've decided to have a presence in Panama,
you'll want to insure your valuables (including yourself).
There are lots of local insurance brokers and companies that for certain you
won't have any trouble finding. However, there's one particular
company/businessman that's well known throughout the expat community; you can
visit www.panamakevin.com and find out more about it/him for yourself.
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Legal |
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When dealing with legal matters, from buying property to dealing with immigration, it's not always necessary, but it's definitely a good idea to have a lawyer on your side. Outside of the developed world, sometimes the term conflict of interest doesn't exist. In short, don't contract the first lawyer suggested to you by default, it's important to check references and partake in due diligence, that also goes for the different developers and advisors that will be recommended to you or you'll just happen to run into. Here are a couple you can contact: |
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Services 
