Regarding health insurance, I have the same philosophy as Othalan.
You buy insurance for major care/ major accidents. So you select the policy that has the highest deductable. This way you save a lot of money and you are still covered in case of a big accident.
Do you need insurance for central and south america? It is a personal decision about how much financial risk you are willing to accept. I did not take any. I only visited hospitals in Argentina and Brasil. It was almost free.
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