Life Insurance in Spain

This type of policy provides you flexibility and can be changed as needed easier on each renewal. 

Knowing what your premiums are for the following 10 years allows you to make a budget. It also provides peace of mind that there will be no unexpected jumps in price. 

Mortgage protection, as banks in Spain usualy require you to have a life plan in place to cover the loan. 

There a numerous optional extras you can add on the life policy. Some of the popular ones include:

Permanent disability: Up front payment for any permanent disability 

Repatriation back to home country

Critical Illness: If your illness caught you off guard, it can cause financial devastation to you and your family added to the emotional stress. Critical illness insurance is designed to help you pay for debts, medical expense and other payments.

If you are over 18 there is no need to take a medical. The only time you need a medical is if you require a high amount insured.

Yes repatriation is included in the event of death back to Spain. There is an option to include repatriation back to your home country by paying an extra premium.

1. Copy of death certificate issued by Local Municipal Authority.
2. Copy of policy holder and beneficiaries photo identification.
3. Current address proof.

These are the first 3 documents required to start the process.

Yes you can. You will be the policy holder and your partner the insured.

Yes the age limit is 70 years old. Therefore once you reach this age the capital insured has to be lowered to a certain amount to take into account your age.

This also is on condition that you are in good health.

The quick answers is yes. For example the UK has an agreement with some insurers for this eventuality.

Yes it is worth buying as any dependents may not have an income and saftey net. Any loans will still have to be paid which means the policy will help with costs. There are different types of life insurance to cater to why you need the cover, each type will depend on the length of time you need cover and if you have a loan linked to the life policy. 

In the event where you need to use the life insurance policy it will be a stressful time. Having a policy in place will definitely help with the uncertainty as bank accounts will be embargoed and so access to a funds will mean bills such as a funeral costs and taxes due will be covered.