Pan-American Life Launches Innovative Health Insurance Plan in Trinidad

PORT OF SPAIN, Trinidad, May 22 -- Pan-American Life Insurance Group, a provider of insurance and financial services, issued the following news release:

Pan-American Life Insurance Company of Trinidad and Tobago Limited recently announced the launch of PANAMED, its hospital indemnity plan which is the first of its kind in the country.

PANAMED is a fixed indemnity plan, which means it provides covered individuals and families with fixed benefits for a wide range of medical expenses--no coinsurance, copayments or deductibles required.

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.

"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."

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.

"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."

PANAMED is available to individuals between the ages of 18-70 years as well as their families, including spouses ages 18-70 and children under age 21.

Under PANAMED, benefits can be paid either to the insured or directly to the provider, with prior authorization from the insured. Premiums are calculated based on age, gender and chosen plan. Premiums can be paid monthly, annually or semi-annually, whatever works best within a family's budget.

To learn more about PANAMED, visit a Pan-American Life agency at any the following locations: Arima, Chaguanas, Port of Spain, Princes Town, San Fernando, St. Augustine, Tobago or Valsayn. You may also contact Pan-American Life's Head Office at 625-4426.