News & Insights

22 May 2019

Pan-American Life Launches Innovative Health Insurance Plan in Trinidad

PORT OF SPAIN, TRINIDAD – JUNE 26, 2019 – Individual Hospital Indemnity is introduced to Trinidad and Tobago for the first time by the Pan-American Life Insurance Company of Trinidad and Tobago Limited.

Known as a fixed indemnity plan, PANAMED makes a fixed cash payout in the event you experience an illness or injury covered in your plan.

“There’s nothing else like it in Trinidad,” says Maxim Marquez, Vice President and Regional Director of Agencies for Pan-American Life. “This is a highly-affordable individual health plan that doesn’t require coinsurance, yet still offers insureds freedom to choose their providers.”

Available to persons 18-70 years and their families, including spouses ages 18-70 and children under age 21, PANAMED provides coverage for medical expenses relating to doctor visits, hospitalizations, some inpatient and outpatient surgeries, emergency room visits, preventive care, diagnostic lab tests and x-rays, ambulance services, and dental and vision care.

This Individual Hospital Indemnity does not replace other types of insurance.  It works in addition to them so you don’t lose money out of pocket.  It can also benefit people who don’t qualify for other types of insurance.

“Another advantage of PANAMED is that benefits are paid in addition to any other health insurance an individual may have,” notes Mr. Marquez. “Insureds can choose from two (2) available plans, which both provide a range of covered benefits.”

Benefits can be paid either to the individual or directly to the provider, with prior authorization from the insured and premiums are calculated based on age, gender and chosen plan. You can pay monthly, annually or semi-annually.

By releasing PANAMED, the carrier—a member of Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas—has given consumers an entirely new health insurance option.

About Pan-American Life Insurance Group

Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas that has been delivering trusted financial services since 1911. The New Orleans-based Group is comprised of more than twenty-member companies, employs more than 1,950 worldwide and offers top-rated individual and/or group life, accident and health insurance, employee benefits and financial services in 49 states, the District of Columbia (DC), Puerto Rico, the U.S. Virgin Islands, and throughout Latin America and the Caribbean. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, and 13 Caribbean markets, including Barbados, Cayman Islands, Curacao and Trinidad and Tobago. For more information, visit the Pan-American Life website at palig.com, like us on Facebook @PanAmericanLife, follow us on Twitter @PanAmericanLife, and connect with us on LinkedIn at Pan-American Life Insurance Group.