Panama bill seeks to end diabetes as barrier for insurance and loans

Panama's National Assembly has advanced a bill that could dismantle significant barriers for individuals with type 1 diabetes seeking essential financial services. The proposed legislation, known as Anteproyecto de Ley 56, specifically targets the difficulties faced when applying for life insurance and bank loans.

The initiative, championed by Deputy José Pérez Barboni, stipulates that a type 1 diabetes diagnosis alone cannot be grounds for denying a person an insurance policy, including those tied to bank loans. It also seeks to outlaw discrimination based on chronic health conditions during the insurance application process. Insurers would be mandated to conduct individual risk assessments, considering each applicant's specific circumstances.

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The proposal aims not to force insurance companies to assume risks that are technically unviable, but to prevent a person from being automatically rejected solely for having type 1 diabetes.

Supporters of the bill emphasize that its goal is not to force insurance companies into accepting unmanageable risks. Instead, it aims to prevent automatic exclusions solely because an individual has type 1 diabetes. The proposal also allows for differentiated premiums if technically justified and approved by Panama's Superintendency of Insurance and Reinsurance.

The bill arrives amid growing concerns from patients and their families who report facing obstacles in accessing financial products. Representatives from the Diabetes LATAM Foundation have actively supported the proposal, highlighting the impact on individuals like María Isabel Escobar, whose daughter has type 1 diabetes. Escobar stated that removing these barriers would offer her daughter "equal opportunities" and a future not dictated by her medical condition.

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equal opportunities