Life insurance with Insurance Cover Spain
Life insurance is a simple and inexpensive way to insure yourself and your family for a lump sum to be paid out in the event of your death. That´s all there is to it in the legal definition of the term. That being said, our life insurance offers much more than that and includes many other benefits that you can take advantage of throughout your life.
Our expat life insurance policies, supplied by our provider here in Spain, Caser Seguros, include a myriad of different guarantees for situations aside from death, such as permanent disability and death or disability due to a traffic accident. We also include services such as repatriation, medical consultations & loan / credit card clearing in the event of your demise.
The principle concept of life insurance to leave a significant sum of money to your loved ones in the event of your death. Understandably, this sounds similar to inheritance, but in this instance, the payment comes from the insurance and not the relative directly. One also has to consider that nowadays, not everyone has savings. We live in times of financial uncertainty due to factors such as inflation, pandemics and global crises, meaning that most have less disposable income, which in combination with increased cost of living, means we may not have as much in the bank to leave behind. Years ago, an inheritance was almost guaranteed from your grandparents and parents, but as we move into the newer generations whom have lived through more global financial crises, with little sign of an end in sight, this is becoming less of a given and more of a rarity.
Another considerable factor is leaving behind debt. Nowadays, almost everyone has a personal loan, finance or even just a credit card. It’s important to know that as part of the next of kin process or inheritance. In Spain, the inheritor also inherits debts, not just the assets and funding. This means that loans and credit card debts will likely fall to your family to come up for, which can be particularly detrimental at such a difficult time that is the demise of a family member.
Debts are not the only expense you may be leaving behind; funeral costs and other administrative matters are also important aspects to consider. This is why having life insurance is an effective way to ensure that both yourself in the event of permanent disability as well as your family in the event of your death, are not left in financial hardship.
Our expat policies are tailor made, allowing us to suit the insured amounts and extra covers to your needs. We have exclusive offers and discounts all the time, with prices starting at just €7 per month, which is less than our beloved ‘Menu del Día’ at our favourite local restaurant.
In short, while we cannot predict the future and what it may bring, you can take steps to ensure that regardless of what life may through our way, you can rest easy knowing that you, your family and children are protected and are financially stable in a tragic event such as your demise. Because finances should be the last concern your family are left with during such a difficult time.
What makes our life insurance so special?
We’re very aware that life insurance is not a new concept, and that we haven’t reinvented the wheel here… or have we?
What makes our life insurance policies different are the features that come with it, which you can benefit from immediately after taking out the policy. Our policies do not increment, by which we mean that, from day one you will have your minimum capital available in the event of need. With other insurance policies, you will often find that the capital increments annually, effectively requiring you to hold the policy for a certain time before the capitals become substantial enough to see a benefit.
We’ve also touched upon the extra services that we offer. There are 22 in total, that you can chose from when taking your policy with us. Here are some of the most popular: