01The Pensionado visa, on one page
The National Migration Service requires a lifetime pension of at least B/.1,000 per month and additional B/.250 solvency per dependent, evidenced under its requirements. The B/.750 exception requires property bought personally for more than B/.100,000. Confirm current documentation and spouse/dependent conditions with an immigration lawyer.
What the visa does not include
The visa lets you establish your residency legally; health, home and auto insurance are an additional step. Organizing this ahead of time helps ensure a smooth transition into your new life in Panama.
02The famous retiree discounts
Resident retirees and pensioners enjoy statutory discounts (the well-known Law 6 of 1987): on medical consultations, out-of-pocket hospital services, medicines, airfare, hotels, restaurants and entertainment, among others. They’re a genuine perk of retiring here:
- Discounts and coverage complement each other. Discounts are a great help with everyday, out-of-pocket medical expenses, while a health policy backs you up for major treatments and the unexpected.
- Every category has its conditions. Percentages and applications vary by service and establishment. They are an excellent complement to your day-to-day life in the country.
03Health and private coverage
It is surprisingly affordable and accessible to get an excellent plan in Panama with access to the country’s best hospitals. Essentially, you will be choosing between local plans with coverage inside the country and international plans. In Panama, private health insurance is medically underwritten at entry:
- Before 60–65: you have the full market in your favor and excellent terms. Once inside a plan, you generally stay covered at renewal.
- After 65: your options narrow somewhat, but brokers can still quote policies and there are options available to get you covered in many cases.
- Pre-existing conditions: depending on the insurer, they may be covered after waiting periods, carry surcharges, or be assessed case by case. Comparing the whole market helps you find the most convenient option.
- Your current coverage: most people moving to Panama choose private insurance for direct, immediate access to first-rate hospitals like Pacífica Salud, The Panama Clinic, Paitilla or Nacional. Keep in mind that Original Medicare generally does not cover care in Panama and has limited exceptions, and many national systems exclude long-term residence abroad.
The best strategy is to get in touch with a broker and learn your options before you move, making sure everything is ready for your arrival. The full local-vs-international breakdown is in our Moving to Panama guide.
04Home, car and the rest of your plan
Your house or apartment
Even if you are renting, it is wise to insure your belongings (contents). If you bought property, you will want fire coverage; with a mortgage, the bank will require a policy — and there are often real advantages to handing the bank your own private policy instead of simply taking the one they offer. Home in detail →
Your car
Auto insurance is essential and third-party coverage is required by law — if you buy a vehicle, dealers often will not even let you drive it off the lot without valid insurance. Comprehensive coverage is always our recommendation. Bookmark our guide to what to do after an accident. Auto in detail →
Travel & life
Travel insurance may help during a temporary stay, but it does not automatically replace resident health insurance. Check relocation, already-started trips, duration and pre-existing conditions before relying on it as temporary cover.
05Your action plan
Get in touch with a broker and tell them a bit about yourself, so they can walk you through the options available to you.
Organize auto and home insurance the same week you sign the purchase or lease.
Your broker can review your history and compare coverage and service options. Availability and terms depend on the insurer and product.
06Frequently asked questions
Can I get health insurance at 70?
Yes — options exist, and it is worth talking to a broker about them. Some insurers accept applicants over 70, and there are also international products available. Talking to a broker and sharing your specific case will get you a quick, simple answer.
Do the retiree discounts apply to insurance premiums?
The statutory discounts apply to services (consultations, out-of-pocket hospital bills, medicines, travel). Premiums follow each insurer’s tariff for your age and risk. Think of it this way: discounts make daily life cheaper; the policy prevents the catastrophe.
Does Medicare cover me in Panama?
Original Medicare generally does not cover care in Panama and has limited exceptions, and most national health systems don’t travel with you as a permanent resident abroad. Coverage for living in Panama gets built here.
Does the Pensionado visa require insurance?
You do not need insurance to process your visa, but you should talk to a broker about your options to understand what is available in the country, even though it is not a requirement.
