Types of Life Insurance in Spain

Do you have a family and want more peace of mind? So, read this, it’s for you.

When you already have a family and economic burden, the most responsible thing is to think and act on how to deal with any unpleasant eventuality, thus being able to minimize its impact on your daily life and that of your loved ones, and this is only possible with a : insurance of life.

Life insurance is a personal protection product that will depend on the circumstances of each person, the economic capacity to pay the policies, their purpose, the duration, the profitability, and even the extension of the policies. benefited

In the case of Spain, there is a diversity of offers in life insurance, to the point that even for singles responsible, hey.

Thus, there is the opportunity to acquire the product that suits all your needs, because there is no single recipe or pattern for policies.

For this reason, you should choose the best insurance company that suits you.

It is more convenient, consequently and in your favour, if you are the head of a family in Spain.

How does life insurance work in Spain?

Life insurance works by a contract in Spain, and in the rest of the globe.

Both the insured and the insurance company have duties and obligations.

And you, as an interested party in the product, must clearly know the benefits for which you pay.

These must be reported by the insurance company.

Just as it is also necessary to show the types of insurance you have, to see their characteristics, it is the one that best suits the client’s needs, that is, the one who intends to be insured (and the people who are in his charge). family or property).

Life Insurance in Spain

The amount to be paid, the calculation of the price, the frequency and the form of payment are variable.

These depend on the profile of the insured, the age at the time of contracting the product, the insured good or the amount that they want to insure.

types of life insurance

There are several types of life insurance thanks to the different demands of the market.

Very surely you could locate your characteristics in one of them, for which it is very interesting to know them:

Risk Life Insurance

The capital contracted by the insured is paid to the beneficiary(ies) once the insured person has died.

Life Risk Insurance includes: life and invalidate insurance and life and loan insurance.

life and disability insurance

There is also the situation of special cases, when the insured is diagnosed with a serious illness or permanent disability that has made him unable to work and perform before he did, contrary to his usual work rhythm.

life insurance and loan

This type of insurance is also known as life and mortgage insurance. It is contracted for when there is an outstanding loan or mortgage.

With this, a debt can be covered or paid, given that the resources conceived are sufficient for such commitments.

Life insurance (survival) and savings

It is contracted to accumulate capital to assume future situations or for retirement.

This consists of obtaining capital once the term agreed in the contract has ended.

mixed insurance

This type of insurance very well combines the benefits offered by risk insurance with the benefits of savings insurance.

It applies as follows: in the event that the insured dies before the term agreed in the contract, the beneficiaries receive compensation.

And, in case of surviving said term, the insured receives a benefit. Everything is agreed in the contract.


Life insurance is not the same as accident insurance. First, consider the risks that lead to death or disability insurance.

The second, only to compensate him for accidents.

What are the best insurance companies in Spain?

In Spain several insurance companies have gained prestige in the market for their excellent products and services. Among them, there are five best:

UC life insurance

It offers the cheapest rates on the market, with a renewal guarantee up to 67 years. Includes travel assistance insurance and a substantial premium.


With more than 1.1 million clients and more than 135 years of continuous existence, the insurance company provides well-being to individuals and companies. Innovation, protection and quality criteria govern its products and services.

BBVA Spain

It caters to tonomes and companies with the best value for money.

This is what they say on their website. It also provides training and complete information about the insurance they offer, tailored to you and based on your interests and your assets.


A comparison of Inese and Global Actuarial in 2019 indicates that ASISA Vida offers products accessible to all users, being able to contract any capital of €18,000with a minimum premium of €50, offering prices from €30.00 per year.

Liberty Insurance Spain

It is one of the most solvent insurance companies in Spain and worldwide.

It attends from companies, freelancers, communities and even expatriates. You can even insure your pet, if you want.

With the innovation presented, it has become a true digital insurer in the cloud. You have to wait for all the necessities.

Are there still doubts about which is the largest life insurance company in Spain?

The best life insurance company in Spain is the one that meets your needs, that adapts to you, your family and your assets, as well as your insurance client profile.

Without this, you would find the largest insurance company in Spain, once you compare the information you offer with your profile as an investor client.

Prices of life insurance in Spain

Life insurance in Spain varies, particularly, according to the age of the insured client.

For a 35-year-old person, €50,000 of insured capital corresponds. While a person from 60 yearss can reach €100,000 guaranteed capital.

Everything varies if it is in case of death or death and invalidate.

life insurance simulator

Many of the insurance companies have their own calculator of life insurance.

They require, yes, as criteria to be able to carry out the calculation, the age and the capital that is going to be insured, and in many others, it provides the result for the time that you want or need to insure a good.

What are you waiting for to make sure?

MAPFRE (2021) confirmed that 58% of Spaniards lack life insurance.

This means that you are not yet aware of the benefits offered by life insurance.

They also rule out the most advantageous: all the savings it represents, both physical and emotional, by being able to help you in the most difficult moments of your own existence.

But you already have all the information, don’t be one more of the percentage! Hire a product with the best company or insurance company in Spain, the one that suits you.

Leave a Comment