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Sunday, November 18 2018 @ 04:03 PM UTC

How Much Life Insurance Do I Need In Panama?

InsuranceBy: Kevin Bradley - Dying in Panama can be a complicated process and few Expats are prepared for the unique complications that will arise. I have 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 that helps the process move with the least amount of effort is having sufficient cash available to cover immediate expenses. Most local insurance companies are prepared to advance a portion of the death benefit to help cover the cost of funeral, legal and repatriation of remains. Some companies will even 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.

So, how much life insurance do you need? Well, the answer isn’t really how much life insurance you need… it’s how much investment capital your family will need at the time of your death. Their need for capital — on a gross basis — 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 visit panamakevin.com

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How Much Life Insurance Do I Need In Panama? | 1 comments | Create New Account
The following comments are owned by whomever posted them. This site is not responsible for what they say.
How Much Life Insurance Do I Need In Panama?
Authored by: D.T. on Thursday, October 04 2012 @ 07:38 PM UTC

This question came to my mind as many of my old colleagues are falling like flies lately.
So, one day I’ll crook! I do not want my friends or family to be bothered with my demise.
What is the cost and procedures in Panama for incineration and ashes spread in the wind?
Could you give us some info about it? Thanks.