Being prepared, should the worst occur, gives you and your beloved ones some peace of mind to confront already difficult times. Having the right death insurance policy adds tranquility to stressful moments in the event of your own death.
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Why Having a Death Insurance
These reasons below show why having a death insurance can suit you and help you and your relatives live a calmer life:
- Around 50% or 22 million Spaniards have a death insurance. When in Rome …
- By having everything planned in advance your relatives will not need to make more last-minute decisions than needed.
- Death insurances are not that expensive
- Funerals without insurance can be an economic burden to the survivors. The coffin, the funeral, a niche and a tombstone or an urn in case of opting for incineration, flowers and reminders, fees and certificates will easily add up to a large amount of money. With the right coverage your family will skip high burial prices. According to this recent article by the Spanish TV outlet Antena 3 funerals in Spain can exceed € 3,000 and some provinces like Girona, Madrid or Barcelona have the most expensive funerals in the country which with added services can cost € 6,500 – 10,000.
- As a nice last act of caring, psychological attention for your loved ones is included in some policies.
Comparing Death Insurances
If you are planning to take out a death insurance as an expat in Spain there are some things about the insurance coverage to take into consideration before deciding:
- Do you need to choose between funeral or repatriation by the time of signing the death insurance or can the decision be taken later by family members?
- Are costs for the possible risks originating from the transfer of the deceased included in the insurance?
- Are there any reimbursements available for the heirs in case the service cannot be provided due to force majeure reasons?
- Is there a system for the relatives to get legal advice and help with obtaining the required documents (death certificate, pension, family register)?
- Is repatriation included from any country of the world to the country of origin or just from the country of residence?
As expert insurance brokers in Spain, we at Cogesa Expats can provide you with a detailed explanation about these and other questions that you need to know before taking a death or repatriation insurance. Contact us to get a tailored quote or fill the form below and we will contact you as soon as possible.