Welcome to Kevin Bradley - Insurance in Panama
Monday, June 26 2017 @ 01:24 PM EDT

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Panama Life Ins. rates!

Life InsuranceHere is an example of Life rates for term insurance in Panama. Yes, they may be higher than you can get online or in the USA, but the benefits will be payable in Panama with less hassle than going back to the country where the policy was issued to collect. The proceeds from a local policy may be available in a few days.

Here are TENTATIVE Annual Non-Smoking rates for healthy applicants:

Male age 50 $25,000 NS 20 yr. term $124.25 $10.80 + 5% tax

Male age 55 $25,000 NS 20 yr. term $188.25 $16.24 + 5% tax

Male age 60 $25,000 NS 20 yr. term $286.50 $24.59 + 5% tax

Male age 65 $25,000 NS 20 yr. term $433.50 $37.08 + 5% tax


Male age 50 $50,000 NS 20 yr. term $225.29 annual

Male age 55 $50,000 NS 20 yr. term $361.64 annual

Male age 60 $50,000 NS 20 yr. term $579.37 annual

Male age 65 $50,000 NS 20 yr. term $935.80 annual

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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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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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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Panama Life Ins, how to apply!

Life InsuranceIn order to quote Panama Life Insurance, we will need your date of birth, do you smoke? If the coverage is for a mortgage, we will also need the term (# of years) of the loan.

Most lending institutions in Panama will require Life insurance to guarantee payment if you die before the loan is repaid. The policies must be issued by Panama licensed companies.....no, they will NOT accept your foreign issued life policy.

There are Life Insurance companies with non-medical limits (no physical required), but if you are over 50 and applying for amounts over $100,000, you will need to pass medical exams and show clean lab work. The companies I work with will pay for the doctor, EKG, X-rays and lab work that may be necessary

We will schedule appointments in your apartment or hotel in order to facilitate the process. Here in Ducruet, we have a team that specializes in helping you obtain this coverage quickly. Call me 6674-1063 or Carmen 322-1605 (direct line) to obtain a quote.
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Will my US/Canada Life Policy Pay?

Life InsuranceThe standard USA/Canada life insurance contract has only a few major exclusions. There are no geographical restrictions, but some companies may exclude death as a result of war, hazardous activity, failure to pay the premium or aviation. For the beneficiary to be paid, a valid certificate of death/proof of death and return of the original policy is all that is needed to receive the benefits. You may die in Manchuria or on the moon, as long as you obtain a valid death certificate. Some local Panama companies will even advance a small amount ($2,000) to the beneficiary to help with funeral expenses based on a newspaper article.

Confusion may stem from Expats residing in Panama who wish to APPLY for life insurance in the USA. Some US/Canada companies do not wish to issue a NEW policy to foreign residents.

More....
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Death of a Canadian Citizen Abroad!

Life InsuranceCanadians travelling or residing abroad may die as a result of natural causes, accidents, murder or suicide. Canadian consular officials overseas and in Ottawa assist families in making all the necessary arrangements if such a situation arises. Visit:

http://www.voyage.gc.ca/faq/death_deces-eng
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Death of a U.S. Citizen Abroad

Life InsuranceWhen a U.S. citizen dies abroad, the nearest U.S. Embassy or Consulate should be notified as soon as possible. Visit:

http://travel.state.gov/travel/tips/emergencies/death/death_3878.html

Upon notification, the consular officer, in accordance with local laws, may do the following....

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Life and Mortgage Insurance in Panama

Life InsuranceIt is my opinion that TERM insurance is the best life insurance for most occasions. While term life insurance rates in Panama are still on the high side, they are considerably lower than Whole Life or Universal Life products.

As part of the Mortgage/loan contract, banks and other lending institutions will require life insurance from a Panama licensed insurance company (will not accept your USA, Canada life policy as a guarantee).

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