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Life Insurance in Spain for Expats

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Protect your family and estate with life insurance arranged by specialist expat insurance agents in Javea, Costa Blanca. New policies available up to age 69 — term life, mortgage protection and critical illness cover from Generali, one of Europe's largest insurers.

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📖 Read our in-depth Life Insurance in Spain guide for expats →

📊 Compare Life Insurance Spain — 2026 quotes & insurer comparison →

Quick Answer — Life Insurance in Spain
Mandatory?No — but commonly required for mortgages
Typical premium€18–€110 / month
Max age at start69 (term life)
Mortgage protection?Yes — decreasing-term cover available
Medical questionnaireRequired for sums above standard
Critical illnessAvailable as add-on to age 65
Life insurance, life cover, death cover, family protection, term life — same product, different names. Whether you searched for "life insurance Spain", "life cover Spain", "death cover Spain", "family protection", "term life Spain", "mortgage protection insurance", "critical illness cover", "life insurance for expats" or the Spanish seguro de vida, you're in the right place. We arrange Generali Vida policies for British, Irish, Dutch, Norwegian, Belgian, German and French expat residents of Spain — from straightforward term life and mortgage protection to critical illness cover.
Read the full policy in EnglishWe have translated the complete Generali Vida life insurance policy conditions — every guarantee, limit & exclusion.View conditions →

Spanish Insurance Law: Life Insurance — Key Facts, Limits & Exclusions

The legal framework, waiting periods, exclusions and sources every buyer should know. We link the sources inline to the BOE (Boletín Oficial del Estado) and the Spanish regulators.

Legal framework

Life insurance in Spain is governed by Ley 50/1980 Articles 83–99 (Seguros sobre la Vida). It is voluntary at law, but mortgage lenders almost always require decreasing-term cover as a condition of granting a mortgage. All Spanish life insurers are supervised by the DGS and must be solvency-II compliant under the regulatory regime applied since 2016.

Suicide and pre-existing conditions

Ley 50/1980 Article 93 rules out a payout for suicide within the first year of the policy, unless the contract says otherwise. After year one, suicide is generally covered. Article 89 lets the insurer ask for a medical questionnaire. If you do not disclose material facts — a chronic illness, smoking or a dangerous job — the policy can be voided under Article 10. For sums insured above about €150,000, most Spanish life insurers require a full medical and blood test.

Maximum entry ages and term limits

Most Spanish term life policies accept new applicants up to age 65 or 70; some, including Generali, accept applicants up to age 69 with cover continuing to age 75 or 80. Common policy terms are 5, 10, 15, 20 and 25 years. Decreasing-term (temporal decreciente) policies match the outstanding mortgage balance and are typically cheaper than level-term cover.

Spanish inheritance tax (ISD) and beneficiary planning

Spanish life insurance payouts are subject to Impuesto sobre Sucesiones y Donaciones (ISD) when the beneficiary lives in Spain. Each autonomous community sets its own ISD rates. In the Valencian Community, for example, there is currently a 99% reduction for first-degree relatives. The beneficiary you name — spouse, children or the estate — has a big effect on the tax bill. When a named beneficiary exists, the proceeds can skip probate (testamentaría) and pay out within 40 days of completed paperwork (the maximum under Ley 50/1980 Art. 18). Always review your beneficiary after a marriage, divorce or birth. For the rules in your autonomous community, see our Spanish inheritance tax guide — or click here for our life insurance calculator.

Standard exclusions

Beyond the first-year suicide exclusion, typical exclusions include: death from war or terrorism (covered separately by the Consorcio de Compensación); death while committing a crime; death from non-licensed flying or professional sport; death from substance abuse; and death from non-disclosed pre-existing conditions. Many policies also exclude high-risk occupations (mining, deep-sea diving, explosives handling) unless declared at application.

Tax deductibility and IRPF treatment

For an autónomo, the premium of a mortgage-protection life policy is deductible against IRPF when the loan is for business premises. Beneficiary payouts are not subject to IRPF — they fall under Ley 35/2006 IRPF Article 6.4 which excludes life-insurance proceeds — but they ARE subject to ISD as set out above.

Generali Life Insurance Spain — Term, Mortgage Protection and Critical Illness

Life insurance in Spain (seguro de vida) provides your beneficiaries with a lump-sum death benefit on your death. It can protect your assets, cover loans or debts, cover inheritance costs, or simply make life easier for your family if something happens to you. As authorised Generali agents based in Javea — serving expats across the Costa Blanca from Denia to Altea — we offer the full Generali Vida range — term life (vida riesgo), decreasing-term mortgage protection and critical illness cover — all with English-language documentation and advice.

📄 Read the cover in full: we've published the Generali life insurance policy conditions in English — the complete general conditions plus all 11 guarantees, translated as a guide.

For expats applying for the Non-Lucrative Visa (NLV) or Digital Nomad Visa (DNV), life insurance is not a consular requirement — but it is strongly recommended. The NLV requires you to demonstrate sufficient income for the rest of your life in Spain; if that income depends on a pension, investment or a partner's earnings, a life policy protects that financial plan. Many of our NLV clients add a life policy at the same time as their mandatory health cover.

Key Points

  • New policies for clients up to 69 years of age
  • Optional: double capital in the event of accidental death
  • Optional: permanent invalidity for accidents (up to age 65)
  • Optional: critical illness cover (up to age 65)
  • Policies available in English — full Generali Vida range, competitive premiums
  • Specify a beneficiary to simplify settlement for your family

Expat Life Insurance Spain — Why Your UK Policy May No Longer Protect You

Expat life insurance in Spain is not simply a UK policy transplanted to a Mediterranean address. Once you become resident in Spain, several things change that make a locally-issued Spanish policy significantly better for your family than keeping old cover from home:

Issue Keeping a UK policy after moving Spanish policy (Generali Vida)
Policy validityMay be voided if insurer was not notified of your move abroadValid regardless of your country of residence — issued under Spanish law
Payout currency & accountSterling into a UK account — family in Spain may wait months to access fundsEuros paid into a Spanish account — typically accessible within 15–30 days
Spanish inheritance tax (ISD)Proceeds caught in UK probate first, then Spanish ISD — double delayNamed beneficiary receives funds directly; ISD declared via Modelo 650
Mortgage protectionSpanish banks will not accept a UK policy as mortgage securityAccepted by all Spanish lenders — issued with mortgage assignment clause
Claims supportUK insurer unfamiliar with the Spanish death certificate, notary and Modelo 650 processWe guide your family through every step in English — at no extra cost

We arrange expat life insurance in Spain for British, Irish, Dutch, Norwegian and other European residents throughout the Costa Blanca and across Spain. Generali Vida policies start from €18/month with full English-language documentation and new applications accepted up to age 69. Get a free quote →

Mortgage Protection Life Insurance Spain

Mortgage protection life insurance in Spain is a decreasing-term policy — the sum assured reduces each year in line with your outstanding mortgage balance. In the event of your death, the insurer settles the outstanding loan directly with the bank and passes any remaining capital to your beneficiaries. For expats buying property on the Costa Blanca — in Javea, Denia, Moraira, Calpe or Altea — a mortgage protection policy is typically a condition of the Spanish bank's loan offer.

The underwriting process for mortgage protection is generally straightforward for loans under €200,000 — a medical questionnaire only. For higher loan values, a medical examination or GP report may be required. Premiums are fixed at inception and do not change during the policy term. As an independent Generali agent, we issue policies directly without bank involvement — at significantly lower premiums than bancassurance products.

Inheritance Tax in Spain

Inheritance Tax in Spain — broken down by provinceWe have the inheritance-tax (ISD) rules, allowances and regional reductions for every Spanish region — with an interactive map. See exactly what your beneficiaries would pay where you live.View the guide & map →

Life insurance proceeds in Spain can be subject to inheritance tax (ISD), and the rules vary significantly by region. We do not give inheritance tax advice, but the calculator below helps you estimate how much cover your family would need — including an allowance for the inheritance tax payable in your region. For full regional detail and our interactive map, see our inheritance tax in Spain guide →

Calculate How Much Life Insurance Cover You Need

Use this calculator to estimate the life insurance cover your family would need — including an allowance for any inheritance tax liability based on your region. This is a rough guide only; speak to us for a personalised recommendation.

Should You Buy Life Insurance from Your Spanish Bank?

Spanish banks frequently pressure mortgage applicants to take their bancassurance life policy as a condition of the loan — in practice this is almost always optional, and the cost is almost always significantly higher than an independent policy. Under Spanish consumer law, a bank cannot refuse your mortgage application solely on the grounds that you declined their in-house insurance. You have the right to choose your own provider.

The typical bancassurance life policy on the Costa Blanca carries a premium 30–60% higher than an equivalent independent policy because the bank receives a commission, the underwriting is less competitive, and the sum assured is often set higher than the loan value — benefiting the bank, not your family. Switching is straightforward: give the bank 30 days written notice before the annual renewal date, take out an independent policy with us, and provide the bank with a certificate confirming equivalent cover.

Already paying your bank for life insurance? Call us on 966 461 625 or request a quote online — we will compare your current premium and show you the saving. Most clients switching from bancassurance to an independent Generali policy save €200–€600 per year.

How to Get a Quote

  1. Call or email us — ring 966 461 625 or email info@turnerinsurance.es. Our English-speaking team is available Monday to Friday, 09:30–15:00.
  2. Tell us your situation — we will ask a few quick questions about what you need to cover, your age, location, and any existing policies you hold.
  3. We compare options — as authorised Generali agents, we present the plans that match your needs and budget. No pressure, no obligation.
  4. Your policy is set up — once you are happy, we arrange everything and send your certificate and English-language policy documents promptly.

Life Insurance Types

Cover level What is included Best for
Level term life Fixed lump-sum sum assured on death within the policy term — the payout level stays constant throughout. Premiums fixed at inception Young families, those with dependants and inheritance tax planning
Decreasing term (mortgage protection) Cover reduces in line with your outstanding mortgage balance Mortgage holders — most cost-effective option
Family income benefit Monthly income paid to family on death — simpler than a lump sum for many families Main earner wanting ongoing income for dependants
Accidental death benefit Optional add-on paying an additional lump sum if death is specifically caused by an accident — typically doubles the base life payout. Available up to age 65 Active expats — cyclists, sailors, sports participants — who want enhanced accident cover alongside life protection

📰 Related articles from our blog

Life insurance for expats in Spain: protecting your family's future Inheritance tax in Spain — what expats need to know Critical illness cover in Spain — do you need it alongside your life policy? Life insurance for Non-Lucrative Visa applicants in Spain Life Insurance in Spain for Expats — the complete UK-to-Spain guide 📄 See our Generali life insurance policy conditions in English
🏥 Critical Illness / Daily Benefit 🛂 Non-Lucrative Visa 🌹 Funeral Insurance 🏠 Home Insurance 📞 Get a quote

Critical Illness Cover Spain — Add-on or Standalone

Critical illness cover (cobertura de enfermedades graves) pays a lump sum if you are diagnosed with a specified serious illness — typically cancer, heart attack, stroke, organ failure or major surgery. In Spain it is available as an add-on to a Generali Vida term life policy, or in some cases as a standalone benefit.

For expats this cover is particularly valuable because the Spanish public health system, while excellent, does not provide income replacement during a critical illness. A lump-sum payout gives you freedom to:

  • Cover private medical costs beyond what your health insurance reimburses
  • Replace lost income during treatment and recovery
  • Pay off your Spanish mortgage to reduce financial stress
  • Fund home adaptations if permanent disability follows
  • Return to your home country for treatment without financial pressure

Under Generali's Vida range, critical illness cover is available as an optional add-on up to age 65 at the time of application. The add-on covers a defined list of 17 serious illnesses — including cancer, heart attack, stroke, kidney failure, major organ transplant, multiple sclerosis, Parkinson's, Alzheimer's, paralysis, severe burns and loss of sight (the full list is on our life policy conditions page). Premiums are age-rated and depend on smoking status, medical history and sum insured. A healthy non-smoker aged 45 adding €100,000 critical illness to a €200,000 life policy typically adds €15–€35/month to the base premium.

Critical illness vs income protection. Critical illness pays a one-off lump sum on diagnosis regardless of whether you recover and return to work. Our Daily Benefit (Subsidio) policy covers income replacement during a period of illness — the two products are complementary, not competing. See Daily Benefit cover →

Approximate Life Insurance Pricing

Term life insurance, non-smoker, standard occupation. Sample lump-sum cover and approximate monthly premiums:

Younger applicant
from €18/mo
  • Age 35, non-smoker
  • €100,000 lump sum
  • 25-year term
  • Mortgage-decreasing or level
  • Critical illness add-on optional
Most Popular
Mid-life applicant
from €45/mo
  • Age 45, non-smoker
  • €200,000 lump sum
  • 20-year term
  • Family protection / mortgage cover
  • Critical illness add-on popular
Older applicant
from €110/mo
  • Age 55, non-smoker
  • €300,000 lump sum
  • 15-year term
  • Senior family protection
  • Medical exam may be required

Prices shown are typical Spanish market starting points and depend on age, area, cover level and your individual circumstances. Contact us for a free personalised quote. Smokers, hazardous occupations and pre-existing conditions attract loadings.

Frequently Asked Questions — Life Insurance in Spain

Life insurance written in Spain works very differently from a UK policy. These answers address the questions British, Irish, Dutch and Northern-European clients most often ask us about Spanish life cover, inheritance and cross-border claims.

Life insurance, life cover, death cover, family protection, term life, mortgage protection and the Spanish seguro de vida all refer to the same legally regulated Spanish product family. The mandatory minimum cover is term life (vida riesgo), with optional extensions to mortgage protection (vida hipoteca or decreasing-term cover), critical illness (enfermedades graves) and savings-element cover (vida ahorro). The rules and tax treatment are the same regardless of which English term you searched for.
Call our English-speaking team on 966 461 625 (Monday-Friday 09:30–15:00) or email info@turnerinsurance.es with the proposed insured's name, date of birth, smoker status, occupation, the sum insured you want, and the policy term length. We send a formal Generali Vida quote within 15–30 minutes — often on the call. A medical examination is required only on sums above €150,000 or for older applicants.
For most British, Irish, Dutch and Norwegian Spanish residents the strongest combination of price, cover and English-language claims handling is Generali Vida Riesgo with the optional critical illness rider. It accepts entry up to age 69 (vs 65 with many competitors), prices at the top quartile of the Spanish market for value, and pays beneficiaries in euros to a Spanish account within 30 days. Mapfre Vida is cheaper but Spanish-only at claim time; Allianz is comparable to Generali but 10–15% more expensive.
Typical 2026 prices for a non-smoker term life policy of €100,000: €18–€25/month at age 40; €28–€45/month at age 50; €55–€90/month at age 60; €90–€140/month at age 65+. Mortgage protection on a typical Spanish mortgage from €25/month. Smoker premiums are typically 50–100% above non-smoker.
Match the product type (term life, mortgage protection), sum insured, term length and your medical declarations across quotes. Generali, Mapfre and Allianz all quote on broadly similar bases; Santalucía uses a different (decesos-linked) model. Call Turner Insurance on 966 461 625 for a Generali Vida benchmark; you can then compare against any other Spanish broker quote on identical terms.
Not necessarily, but a UK policy can be a poor fit once you live in Spain. UK insurers may decline to renew if they are notified you are no longer UK-resident. Claims paid into a UK account from a UK insurer can become entangled in Spanish inheritance tax (ISD) and may take many months to release to family abroad. A Spanish-issued policy pays out in euros to a Spanish bank account, typically within 30 days of documentation, and is structured so that beneficiaries in Spain can use the money immediately for funeral costs, inheritance tax payments and bills.
Most will, but read the policy. UK life insurers generally honour death anywhere in the world, but require: (a) a death certificate (UK insurers may require an apostilled translation of a Spanish certificate), (b) up-to-date premium payments from a UK bank, and (c) the insurer to have been notified of your change of country of residence — failure to do so can void the policy entirely. UK policies can also struggle with the Spanish inheritance process because they are not pre-cleared with the Spanish notary system.
It depends on the size of the inheritance and the value of the life insurance policy — we recommend speaking to a tax specialist, as ISD rates and allowances vary significantly by autonomous community in Spain. The rate depends on relationship to the deceased, region and the beneficiary's existing wealth. In the Comunidad Valenciana, spouses and direct descendants currently benefit from a 99% reduction on most inheritances, but this can change. Properly structured Spanish policies can in some cases pay outside the estate to named beneficiaries — an important planning point we explain on a case-by-case basis. We are not tax advisers; always confirm with a Spanish gestor.
Yes, and this is one of the most common reasons for taking out a Spanish life policy. Spanish banks routinely require a life insurance policy assigned to the bank for the value of the mortgage as security. The policy typically reduces in value over time as the mortgage balance reduces (a 'capital decreciente' or decreasing-term policy). The bank will offer their own policy at an inflated premium — an independently arranged life policy through us is normally 30–60% cheaper for the same cover, and the bank is legally obliged to accept it.
In law, no — Spain does not force you to buy life insurance to be granted a mortgage. In practice, almost every Spanish bank requires a life insurance policy assigned to the bank as a condition of the mortgage offer, and will usually improve your interest rate if you bundle their policies. The point most expats miss: you do not have to buy the bank's policy. Under the Ley de Contratos de Crédito Inmobiliario (Ley 5/2019), the bank must accept an equivalent policy arranged independently — and an independent decreasing-term (capital decreciente) life policy through us is typically 30–60% cheaper than the bank's for identical cover. So the practical answer is: yes, you will need a policy — but no, not theirs. We arrange a bank-compliant policy and provide the certificate the notary needs. See our mortgage protection life insurance page for detail.
Most policies up to around €150,000 of cover require only a medical questionnaire. Above this level, or if the questionnaire reveals concerns, the insurer may require a medical examination (usually at a clinic the insurer pays for) and possibly blood tests. Smokers, applicants over 55, and those with pre-existing conditions are more likely to face full medical underwriting. The process typically adds 1-3 weeks to policy issue.
Most Spanish term life policies accept new applicants up to age 65 or 70, with cover continuing to age 75 or 80; Generali will currently insure new applicants up to age 64. Generali term life accepts new applicants up to age 69. Funeral plans (a form of pre-paid funeral life cover) have no upper age limit and require no medical questions, which is why we often recommend them to clients in their 70s and 80s where pure life insurance is no longer available.
Yes. Spanish life insurance allows free designation of beneficiaries — they can be in the UK, Ireland, anywhere. Important: you can name them generically ('my legal heirs', 'my spouse and children equally') or specifically by name and ID. Specific naming is faster at claim time but needs updating after divorce, remarriage or new children. We help you decide and assist with updates throughout the policy's life.
Most UK pension schemes' attached life cover (often 4× salary 'death-in-service') ends when you leave the employer. If you have already left and are drawing the pension, any death-in-service element is gone, though some pension types include a small spouse's pension on death. Personal pensions usually pay the fund value to nominated beneficiaries. None of this is a substitute for separate life insurance. Confirm specifics with your UK pension administrator before relying on it.
Critical illness (called 'Enfermedades Graves' in Spanish policies) is normally an optional add-on rather than included as standard. It pays a lump sum on diagnosis of specified serious conditions — typically cancer, heart attack, stroke, multiple sclerosis, kidney failure and around 20-30 other named conditions. Premiums are an additional 30–60% on top of the base life cover. We strongly recommend it where affordable, as it is the single most likely benefit to actually be claimed during a typical 20-year policy.
Within 40 days of receiving all documentation, under Spanish law (Ley 50/1980) — or the insurer must pay statutory default interest. In practice, with documentation in order, Generali pays out within 15–30 days of receipt. Required documents typically include: original death certificate, family book or civil register extracts, beneficiary ID, and proof that Spanish inheritance tax has been declared (a 'Modelo 650' filing receipt).
The original Spanish death certificate (Certificado de Defunción), a 'Certificado de Últimas Voluntades' showing the will and the most recent insurance contracts on file, the Modelo 650 inheritance tax filing, their own ID, and bank details for the payout. We help every claimant family through this process — call us first; we deal with the insurer's claims team in Spanish.
It's the central Spanish register of every life insurance policy issued in Spain. After you die, your beneficiaries can request a 'Certificado de Contratos de Seguros' from the Ministry of Justice which lists every life policy you held. This means lost or forgotten policies are not lost to the family. The certificate is a key document in winding up an estate and is requested as a matter of course by Spanish notaries.
Yes. Spanish life insurance policies have a 30-day 'right of withdrawal' (derecho de desistimiento) from inception. Beyond that, you can cancel at any anniversary by giving one month's written notice. Mid-year cancellation outside this is generally not refundable unless the policy includes savings/investment elements with a surrender value.
Spanish life insurance covers death by suicide after the policy has been in force for at least one year. This is set by Article 93 of the Insurance Contract Law (Ley 50/1980). During the first year of the policy, suicide is excluded. The policy will pay out the surrender value (if any) plus return of premiums during this initial period.
Standard exclusions: war and civil war, wilful self-harm during the first policy year, hazardous activities not declared (professional motor sport, parachuting, certain extreme sports — disclose at application), and acts of gross negligence. Travel to high-risk countries against Foreign Office advice may also affect cover. Honest disclosure at application makes everything else covered.
Self-employed clients on the Costa Blanca often combine three covers: a life policy, a permanent disability cover add-on, and a daily-benefit hospital cash policy that pays €30–€100 per day if illness keeps them away from work. The combination is much more affordable than the equivalent UK group income protection, and is a critical safety net since autónomos receive minimal Spanish state sickness benefit. We often package these together for trade clients.
Yes — Spanish life insurance offers three structures: 'capital constante' (level cover, level premiums, level payout); 'capital decreciente' (decreasing cover, used for mortgage protection, lower premiums); and 'capital creciente' (increasing cover, premiums rise to match — usually for inflation protection). Mortgage clients typically choose capital decreciente; family protection clients usually choose capital constante; high earners with growing financial commitments may choose capital creciente.
Email us a quick summary of your age, occupation, smoker status, the cover amount and term you are considering, and we will return three or four insurer quotes within 24–48 hours. We do not charge for advice or quotation. If you decide to proceed, we handle the medical questionnaire, the mortgage assignment paperwork (if applicable) and all communications with the insurer in Spanish on your behalf.
Yes — critical illness cover (cobertura de enfermedades graves) is available in Spain as an optional add-on with a Generali Vida term life policy. It pays a lump sum on diagnosis of a specified serious illness — cancer, heart attack, stroke, organ failure, major surgery and around 30 other conditions. Available up to age 65 at application. Premiums depend on age, smoking status and sum insured — a healthy non-smoker aged 45 adding €100,000 critical illness cover to a life policy typically pays €15–€35/month extra. Unlike income protection (daily benefit), critical illness pays once on diagnosis regardless of recovery — two different tools that work well together.
A Spanish life insurance policy issued under a DGS-registered insurer remains valid regardless of where you live — it is a contract under Spanish law, not tied to your residency status. If you move back to the UK, the policy continues as long as you keep paying the premiums. Your beneficiaries can claim from the UK in the event of your death — the payout is made in euros and handled by the Spanish insurer. However, the tax treatment of the payout may change (Spanish ISD versus UK inheritance tax) depending on your domicile at the time of death. We recommend telling your insurer of any change of address and reviewing beneficiary designations before you move.
Yes — Generali Vida policies are available on monthly, quarterly, half-yearly and annual payment schedules. Annual payment is slightly cheaper overall (insurers apply a small loading for instalment billing, typically 3–5%). Most of our clients choose monthly direct debit for cash-flow convenience. Premiums are collected by direct debit (domiciliación bancaria) from a Spanish bank account. If you are newly arrived and do not yet have a Spanish account, we can arrange the policy with annual payment initially and switch to monthly once your account is active.
Life insurance is not a mandatory requirement for the NLV or DNV — the Spanish consulate requires health insurance (sin copago) and proof of sufficient income, not life cover. However, many NLV and DNV applicants take out a life policy alongside their health insurance for two reasons: first, if your Spanish income plan relies on a pension, investment or partner's earnings, a life policy protects that financial foundation for your family; second, a decreasing-term mortgage protection policy is often required by Spanish banks if you buy property in Spain on the visa. We can arrange health and life cover together at no additional cost, with the mandatory health certificate issued for the consulate within 24–48 hours.
Life insurance premiums in Spain depend on five key factors: age at application, smoking status, sum assured (the lump sum paid on death), policy term in years, and medical history. As a general guide: a non-smoking 35-year-old taking €150,000 level term cover for 25 years pays approximately €18–€22/month; a non-smoking 45-year-old taking €200,000 for 20 years pays approximately €38–€48/month; a non-smoking 55-year-old taking €300,000 for 15 years pays approximately €95–€130/month. Adding critical illness cover typically adds 20–40% to the base premium. Smokers and those with pre-existing conditions pay higher rates after underwriting. These are indicative figures — your exact premium depends on your individual health assessment. Contact us for a free personalised quote.
For most expats in Spain, the best life insurance in Spain is a Generali Vida level-term policy with an optional critical illness add-on — not because Generali is the only option, but because the combination of price, underwriting flexibility (up to age 69), English-language documentation, DGS regulatory backing, and local English-speaking claims support makes it the most practical solution. The"best" policy depends on your specific situation: for mortgage protection, a decreasing-term policy is usually cheapest; for families with young children, a level-term with critical illness gives the broadest protection. As authorised exclusive Generali agents in Javea, we can compare the full product range and give you an honest recommendation based on your age, health, budget and goals. All at no cost or obligation.
Expat life insurance in Spain is a term life policy taken out by a foreign national resident in Spain, issued by a DGS-registered Spanish insurer. As an expat in Spain, your life insurance must be with a Spanish insurer (not your UK or Dutch insurer) if it is to cover your Spanish mortgage or satisfy Spanish estate planning requirements. Generali Vida offers expat life insurance in Spain with English-language policy documentation, new applications accepted up to age 69, and premiums from around €18/month for a non-smoker under 40. Expat life insurance for Spain covers both term life (terminable by you) and decreasing mortgage protection (tied to your outstanding loan). We arrange expat life insurance for British, Dutch, Irish and Scandinavian residents across the Costa Blanca — call 966 461 625 for a free quote.
Yes — Generali Vida accepts new life insurance applications in Spain up to age 69, which is higher than most Spanish competitors. Over 50: standard term life and mortgage protection are available with full medical underwriting — premiums are higher than for younger applicants but cover is readily obtainable for healthy individuals. Over 60: a full medical questionnaire is always required; for higher sums assured a medical examination may be requested. Over 65: new applications are accepted up to age 69 at entry; premiums increase significantly with age but cover is available. Over 70: new term life insurance applications are not available in Spain from most providers including Generali — however, existing policies taken out before age 70 continue in force. Funeral plans (seguro de decesos) with no medical questions are available as an alternative for those over 70. Call us on 966 461 625 to discuss cover options for your specific age.
A life insurance calculator for Spain should factor in: your outstanding mortgage balance (the minimum your bank requires you to cover), your dependants' income needs (typically 5-10 times your annual income for family protection), Spanish inheritance tax (ISD) liability on your estate, and any outstanding personal debts. For a simple mortgage protection calculation: insure the current outstanding balance on a decreasing term basis — the sum assured reduces each year in line with the loan. For broader family protection beyond the mortgage: add a level term policy of 5-10 times your annual income. We calculate the right sum assured for your specific situation at no cost when we prepare your quote — call 966 461 625 or email info@turnerinsurance.es.
Yes — life insurance in Spain is generally cheaper than equivalent UK cover, partly due to a more competitive market and partly because Spanish life tables reflect lower mortality rates in Mediterranean countries. Cheap life insurance in Spain starts from around €18/month for a non-smoking adult under 40 seeking €150,000 of level term cover over 25 years. The cheapest life insurance option in Spain for mortgage protection is a decreasing term policy matched to your loan — this is significantly cheaper than a level term policy because the sum assured reduces over time. We always compare options within Generali's range to find the cheapest life insurance in Spain that meets your specific requirements — contact us for a free quote.

Life Insurance Plans in Spain — Cost and Options

Life insurance plans in Spain fall into two main categories: term life insurance (seguro de vida riesgo — pays out on death during the term) and mortgage life insurance (seguro de amortización — linked to a Spanish mortgage). The cost of life insurance in Spain depends on your age, health, cover amount and term. How much is life insurance in Spain on average:

  • Age 35, €100,000 cover, 20-year term: from €15–€25/month
  • Age 45, €150,000 cover, 15-year term: from €30–€50/month
  • Age 55, €100,000 cover, 10-year term: from €55–€90/month
  • Over 50 life insurance in Spain (€75,000 cover): from €40–€80/month
  • Life insurance for over 70 in Spain: from €80–€180/month (limited options above 70)

Life insurance quotes in Spain are calculated individually — contact Turner Insurance on 966 461 625 for a free quote. Buying life insurance in Spain is straightforward for expats — you do not need a Spanish NIE initially and all documentation is provided in English.

The main life insurance companies in Spain offering English-language policies to expats include Generali, Zurich, Mapfre, AXA and Caser. As authorised Generali agents, Turner Insurance arranges Generali life insurance for expats — one of the most established life insurance companies in Spain, with a DGS-registered product range specifically designed for international residents. Life insurance plans in Spain from Generali include term life and mortgage protection policies, all with English documentation and English-speaking claims support. We compare across the main life insurance companies in Spain to recommend the best fit for your age, cover amount and budget.
Yes — over 50 life insurance in Spain is available, though the options narrow with age and premiums increase significantly. Most Spanish term life insurance policies accept new applicants up to age 65 or 69 at entry. Generali offers life insurance for expats in Spain up to age 69 at entry for term policies. Over 50 life insurance in Spain typically costs €40–€80/month for €75,000 cover. Funeral insurance (seguro de decesos) is available as an alternative for older applicants — it covers funeral costs and repatriation with no upper age limit and no medical questions. If you are over 50 and looking for life insurance in Spain, contact us on 966 461 625 for a quote based on your specific age and health.
Life insurance for over 70 in Spain is limited — most term life policies do not accept new applicants over 69 or 70. For expats over 70, the main options are: funeral insurance (seguro de decesos) which covers funeral costs and repatriation and has no upper age limit; and accidental death insurance which provides a lump sum in the event of accidental death regardless of age. Life insurance for over 70 in Spain from Generali may be available on a case-by-case basis subject to a medical questionnaire. Contact us on 966 461 625 to discuss your options.
How much is life insurance in Spain depends on four main factors: age at entry (the biggest driver — premiums double roughly every 10 years), the sum assured (the amount paid to beneficiaries on death), the policy term (longer terms cost more), and your health at the time of application. The cost of life insurance in Spain is competitive compared to equivalent UK cover — Spanish premiums are typically 10–25% lower for the same age and cover amount. Life insurance quotes in Spain from Generali are calculated on a personalised basis after a medical questionnaire. Contact Turner Insurance on 966 461 625 or use our contact form for a free life insurance quote in Spain.
Are life insurance proceeds taxable in Spain? Yes — but the tax treatment depends on who receives the payout. If the policyholder and beneficiary are the same person (e.g. endowment or savings policies), the payout is taxed as savings income (rendimientos del capital mobiliario) under IRPF. If the policyholder dies and a named beneficiary receives the death benefit, the proceeds are subject to Spanish Inheritance Tax (Impuesto sobre Sucesiones y Donaciones — ISD). ISD rates and exemptions vary significantly by region — the Valencian Community (where Jávea and the Costa Blanca are located) has significant bonifications that can reduce or eliminate ISD for surviving spouses and children. We are not tax advisers; a Spanish gestor or tax adviser can confirm the exact tax treatment for your situation. Life insurance proceeds that qualify for ISD exemption in Valencia can sometimes be received tax-free.
Buying life insurance in Spain as an expat is straightforward with Turner Insurance. The process: contact us on 966 461 625 or via the contact form. We discuss your cover needs — sum assured, term, beneficiaries, budget. You complete a medical questionnaire (standard for all life insurance applications). We submit to Generali for underwriting — straightforward cases are accepted within 2–3 working days. The policy is issued with English-language documentation. You do not need a Spanish NIE initially — your passport is sufficient. Life insurance for expats in Spain from Generali is available to British, Dutch, Norwegian, Irish and other EU and non-EU nationals. Expat life insurance in Spain quotes are free and there is no obligation.
It depends entirely on the type of policy. For a pure risk term life policy (vida riesgo) — the most common type for expats — there is no surrender value: cancelling returns nothing, in the same way that cancelling car insurance mid-year earns nothing back. The premiums paid covered the risk of dying during that period. For policies with a savings element (vida ahorro), a surrender value (valor de rescate) does accumulate over time and can be accessed if you cancel — though early surrender values are low and surrender charges may apply in the first years. For endowment policies (seguro mixto), which guarantee a payout on death or at a fixed maturity date, there is always a minimum guaranteed value. If you are considering cancelling to reduce costs, speak to us first — we can often reduce your premium by adjusting the sum assured or shortening the term without giving up your cover entirely.
'Death insurance' is simply an alternative term for life insurance — the two mean exactly the same thing. The phrase arises because a life policy pays out on death, so some people call it 'death insurance.' In Spanish the product is called seguro de vida (life insurance) or seguro de fallecimiento (death/life insurance) — these are interchangeable terms for the same DGS-regulated product. If you searched for 'death insurance Spain' or 'death insurance in Spain,' you have found the right page. The one exception worth noting: funeral insurance (seguro de decesos) is a separate product that covers funeral costs, burial or cremation, and international repatriation — rather than a general lump-sum benefit to beneficiaries. See our funeral insurance page if that is what you need.

More questions? Contact us for free English-speaking advice — or call 966 461 625.

How This Compares to the Competition

Honest comparisons help you make an informed choice. These figures are typical Spanish-market starting points and depend on age, area, cover level and individual circumstances.

Generali Life Insurance vs VidaCaixa and Mapfre Vida

How Generali's life cover compares to VidaCaixa (CaixaBank/Banco Sabadell) and Mapfre Vida — the two largest life insurers in Spain.

Feature Generali Vida (Term Life) VidaCaixa Vida Familiar Mapfre Vida
Maximum new-applicant age 69 70 70
Term life available Yes — 5/10/15/20/25-year Yes — annually renewable Yes — fixed term
Decreasing term (mortgage) Yes Yes Yes
Inheritance tax planning structure Yes Yes Yes
Named beneficiary designation — bypasses inheritance Yes — we guide you Yes Yes
Medical questionnaire over €150k Required Required Required
Premium 40yo, €200k cover, 20 yr term ~€22/month ~€25/month ~€26/month
Tax-deductible mortgage life policy Yes Yes Yes
Critical illness cover available Yes — up to age 65 Yes — up to age 60 Yes — up to age 65
Monthly payment option Yes — direct debit Yes — direct debit Annual only (standard)

Comparisons are based on publicly available product literature and our experience placing policies across the Spanish market. Premium estimates assume a healthy applicant on the Costa Blanca with no significant claims history. Contact us for a personalised, like-for-like quote.

Sources & References

Local context: Turner Insurance Specialists has arranged life insurance for expats in Javea, Denia, Moraira, Calpe, Altea, Benissa and across the Costa Blanca since 2013. The Spanish insurance market figures and regulatory references on this page are verified against the sources below.

This page references the following official Spanish regulatory and legal sources. These are the authoritative bodies and laws governing insurance products in Spain:

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Cancellation rights. Annual contracts auto-renew under Ley 50/1980 Article 22. Cancellation requires at least one month's written notice before renewal.

Coverage Across Spain

Life Insurance Across Spain

We arrange life insurance for expats across Spain - including online and across the islands. Popular coverage areas include:

📍 Jávea📍 Dénia📍 Moraira📍 Altea📍 Benidorm📍 El Albir📍 Orihuela Costa📍 Torrevieja📍 Mazarrón📍 Ciudad Quesada📍 Pilar de la Horadada📍 Teulada📍 Els Poblets📍 Rojales📍 Orihuela📍 Marbella📍 San Pedro de Alcántara📍 Estepona📍 Fuengirola📍 Mijas📍 Benalmádena📍 Nerja📍 Mallorca📍 Ibiza📍 Tenerife📍 Gran Canaria📍 San Fulgencio📍 La Marina📍 Els Poblets📍 Oliva📍 Benijofar📍 Playa Flamenca📍 Los Alcázares📍 Lanzarote📍 Albox📍 San Juan📍 Mojácar