Although your Panama insurance policy is in Spanish, a “deducible” is the amount of money which the insured party must pay before the insurance company’s own coverage plan begins. It is practical for insurance companies to include a deductible in their policies to avoid paying out benefits on relatively small claims. A typical Panama auto insurance policy, for example, may carry a $500 deductible for “colision”. If the owner of that car accidentally hits another car while parking and both drivers agree the damage is minimal, he or she would pay the $500 repair bill out of his or her own pocket. Insurance companies would not encourage a claim for such minor damages.
The same holds true for local or international medical insurance. Patients who visit their doctor’s office or emergency room for a minor injury or procedure would have to pay out of pocket until they have reached the level of the deductible. If their medical expenses on a visit to the hospital would exceed the deductible, then the insurance company would pay the total charges minus the deductible. In either scenario, the policy holder is almost always held responsible for a small portion of their claims.
In Panama, a deductible of some kind should be expected with any medical or automotive insurance policy. When shopping for affordable coverage in Panama, be sure to ask specific questions about the deductible and other obligations left to the policy holder. Requesting a higher deductible for international health insurance will result in a significant savings. I carry a $5,000 deductible in my personal international health insurance coverage.
For a more complete list of definitions of “deductible” check out: http://www.google.com/search?hl=en&lr=&oi=defmore&q=define:Deductible