Life insurance in Spain for expats

If someone depends on your income – a partner, children, or even a mortgage lender – life insurance can help protect them if you die. It's especially important for expats, whose families may live in different countries and face extra costs if something happens.

Term life covers you for a specific period (for example 20 years). If you die during that period, it pays out. Whole-of-life is designed to cover you for your entire life and is usually more expensive. In Spain, most expats choose term life linked to key needs such as mortgages or raising children.

It depends on your income, debts, number of children, and how long you want to protect them. A common starting point is between 5 and 10 times your annual income, plus any major debts such as a mortgage. We help you estimate a sensible amount instead of guessing.

Yes, in many policies the beneficiaries can live abroad – the payout can be made to your chosen beneficiaries wherever they live, as long as it complies with policy terms and any tax rules. We always check this detail for you before you sign.

In many cases, yes, but it depends on your specific situation and the insurer's rules. Your residence status, country of origin and length of stay can affect options. Tell us your circumstances and we'll see which insurers are suitable.

For smaller covers and younger ages, a questionnaire may be enough. For higher sums insured or older ages, a basic medical exam or tests may be required. We'll tell you what to expect before you apply.

Many life insurance policies do cover death due to illnesses like COVID-19, but you must check the specific wording and any exclusions. We review the conditions of each insurer so you know where you stand.

Critical illness cover pays a lump sum if you are diagnosed with certain serious illnesses defined in the policy. This money can help with medical costs, adapting your home, or replacing income while you can't work. It isn't mandatory, but it can add an extra layer of security for families.

It depends on the insurer and policy. Some allow you to keep the policy if you move within the EU or certain countries; others may require you to inform them and adapt cover. If you think a move is possible, we'll prioritise more flexible options.

Tax depends on the relationship between the insured and the beneficiary, the amount and the region (autonomous community) where they live. We're not tax advisors, but we can point you toward general rules and recommend speaking to a tax professional for your specific case.

In most policies, yes – you can update beneficiaries if your family situation changes (marriage, divorce, children, etc.). We recommend reviewing this regularly and keeping your policy details up to date.

That can help, but it may not be enough if your main life and expenses are now in Spain. Currency, tax, and legal issues can also be different. We can review your existing cover and show whether additional local life insurance would make sense.