Welcome to Kevin Bradley - Insurance in Panama
Saturday, September 22 2018 @ 06:24 PM UTC

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How much Life Ins. do I need in Panama?

Life InsuranceDying in Panama can be a complicated process and few Expats are prepared for the unique problems that will arise. This is not an easy article for me to write. I been called upon to help families and loved ones collect life insurance proceeds and attend to the final expenses after the death of an Expat in our country.

The one factor the helps the process move with the least amount of pain is having sufficient cash available to cover immediate expenses. Most local companies are prepared to advance a portion of the death benefit to help cover the cost of Hospital/funeral, legal, air plane tickets for family and repatriation of remains. I was once able to obtain a $2,000 advance against a local policy with proof of death from a newspaper article/announcement and a doctors statement. Some companies will also pay "living benefits" after a fatal medical diagnosis, to help offset expenses of the dying.

At the very least, Expats should consider a minimum $25,000 term policy with a local Panama company to provide their family/beneficiaries access to ready cash. If you have policies back in your home country, you should leave instructions to your beneficiaries on how to collect proceeds.

Here is a calculator that may help you with the decision, please consider a minimum policy to cover final expenses.

So, how much life insurance do you need? Well, the answer isnít really how much life insurance you needÖ itís how much investment capital your family will need at the time of your death. Their need for capital ó on a gross basis ó is really a function of two variables:

1. How much will be needed at death to meet immediate obligations?

2. If you brought your family with you to live in Panama, how much future income is needed to sustain the household?

http://www.lifehappens.org/life-insurance-needs-calculator/

Carmen and I are standing by to help with quotes. 322-1605 or 6674-1063 or email: cdunkley@ducruet.com

Info needed, sex, date of birth $$$ amount, number of years and if you smoke?

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Panama Earthquake Assessment!

Fire InsuranceA study on the seismic risk of the western city of David, Panama, presented today by the Government and the World Bank, found that 35% of homes are vulnerable to an earthquake, and recommended a series of measures to minimize the impact of a possible natural disaster in the area.

http://www.panama-guide.com/article.php/20121003101001188

If you live in Chiriqui Province and would like a quote for Earthquake/Fire coverage, please call Carmen 322-1605
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Quoting Panama Auto Insurance

Automobile InsuranceIn order to obtain a TENTATIVE quote for automobile insurance here in Panama, we will need the following information:

Make, model, year, current $$$ value of the vehicle, name, passport/cedula number, date of birth of the owner.
Do any of the driver's have a Panamanian driver's license? NEW CAR? If you have a proforma invoice....we can cover before you put the key in the ignition!

From this basic information, we should be able to send a quote by email or telephone. Carmen 322-1605 cdunkley@ducruet.com

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Quoting Panama Life Insurance!

Life InsuranceIn order to obtain a TENTATIVE quote for Panama Life Insurance, we will need your date of birth, do you smoke? How much $$$$ coverage do you need?

If the coverage is for a mortgage, we will also need $$$ amount and the term (# of years) of the loan.

With this basic information, we will be able to send a quote by email or telephone...
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Most Dangerous Cars in America!

Auto ClaimsFrom the Wall Street Journal:

http://247wallst.com/2012/05/29/the-most-dangerous-cars-in-america/2/

Some vehicles can survive car crashes and protect the occupants much better than others. To find out which motor vehicles perform best and which the worst, nonprofit group Insurance Institute for Highway Safety performed crash tests. IIHS, which is ?dedicated to reducing the frequency and consequences of crashes on U.S. roads,? rated the cars in four separate categories. 24/7 Wall St. examined the ratings and identified the seven current-generation models that received a ?marginal? or ?poor? rating in two of the four categories.

Read more: http://www.foxbusiness.com/industries/2012/05/30/most-dangerous-cars-in-america/#ixzz1x7K99s2Q
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Why Bupa? The Last Man Standing

Health InsuranceCharles Revson, founder of the successful cosmetic manufacturing firm Revlon, once said, "In our factory we make lipstick. In our advertising, we sell hope."

There is a unique Company that makes policies, but sells PROTECTION: a guarantee that they will defend, guard and preserve your health and that of your family. A guarantee backed by a solid track record.

Read More....
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BUPA comes to Latin America

Health Insurance Bupa is one of the most experienced insurers providing health insurance products to residents of Latin America and the Caribbean.

With more than 30 years of experience in the market, Amedex and International Health Insurance danmark now join Bupaís strength and expertise to create one of the largest specialist insurers for the region, with more than 175,000 members from more than 42 countries across Latin America and the Caribbean.

Bupa offers an excellent service proposition to its members in Latin America and the Caribbean, who have access to our doctor-led 24-hour helpline, USA Medical Services. This team helps arrange every aspect of a claim, whether it is a relatively simple day-patient procedure or a major emergency needing an air ambulance. The USA Medical Team can also answer any questions you or your family may have about your condition and planned treatment.

Their main office, based in Miami, is staffed by a highly experienced and professional multilingual team, managing all aspects of the claim process.

More....
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Putting "Insurance" back in Health insurance!

Health InsuranceInteresting article from Forbes about the current state of Health Insurance. Be sure to read the Comments section:

http://www.forbes.com/sites/aroy/2012/05/21/putting-the-insurance-back-in-health-insurance/
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Panama Auto Title Change!

Automobile InsuranceFrom my good friend, Bob Askew............

The auto title change process in Pma is a 3-step process:

Step 1 is a trip (buyer and seller go) to one of the Municipio offices (it's not DMV). The Municipio office in Balboa (old CZ) next to the Niko's Cafeteria is usually convenient and opens early (7 a.m. I think)

Take identity documents (passport if foreigner, or cedula if Panamanian) and (to be safe) 3 copies of each.

Also have the original title doc (Registro Unico de Propiedad Vehicular) and a few copies. Buyer and seller will need to sign the back of old title doc.

Best bring the whole car file of docs. Another document to find is the current vehicle inspection doc (the Revisado) and copies.

There's a copy shop right next to the Balboa Municipio that opens at 8 a.m.

At the Municipio office, take a ticket and wait for your number to be called for their required checks & processing.

Yes, if you care to, you can ask the Municipio guard if he knows a runner to do the whole processing for you ($).

On the documents produced at the Municipio, make sure the buyer's name & ID document number are exactly correct.

The seller's not really needed for step 2 & 3 but the buyer needs to how to get a hold of the seller if there's issues (like unpaid traffic tickets).

More...
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The Most Dangerous States to Drive In

Automobile InsuranceInteresting article detailing fatalities by state, work lost and medical costs as a result of auto accidents:

http://www.foxbusiness.com/personal-finance/2012/05/25/most-dangerous-states-to-drive-in/