Protecting Your Loved Ones Abroad: How to Get the Right Life Insurance in Spain

Insurance in Spain

July 3, 2025

Life is unpredictable – that’s no secret – and some surprises are happy and welcome, but others are hard to plan for. Be it a new addition or a chronic illness or even sudden death, choosing life insurance in Spain can help you know that your family’s future will be protected to matter where you live or travel and who depends on you financially.

Here’s a step-by-step guide tailored for expatriates, long-term travelers, or even families living abroad to understanding the key points of researching and contracting a life insurance in Spain policy:

What is life insurance?

Life insurance is a financial product that pays out a lump sum at the time of your death to chosen beneficiaries, usually a spouse of children, if you pass away while the policy is active. As policy holder, you would pay a monthly or yearly premium to an insurance company that would pay out the death benefit on the occasion of your death, so long as the policy is still active.

What to know about life insurance in Spain

People choose life insurance policies for a myriad of reasons, but mostly financial ones: a life insurance in Spain policy can provide financial protection for your family in the event of lost income or the necessity for unexpected expenses for childcare or otherwise, cover debt or business obligations, pay for funeral expenses and possible expatriation costs or even provide protection to pass wealth to the beneficiaries or additional causes or persons.

Is life insurance in Spain right for me?

Every case is different, but there are three core questions you can ask yourself when it comes to deciding about life insurance:

Who depends on me financially? A spouse or former spouse, children and other dependents are typical beneficiaries.
How long will I be living away from my home country?
Do I need to consider life insurance in my home country, the country I currently reside in – or even both?

A daughter and her mother enjoying themselves after purchasing their life insurance in Spain.

Life Insurance in Spain versus life insurance in country of origin: which is better?

If you intend to live in Spain for a prolonged period of time – especially in your later years – you may want to look into policies in Spain. Start by investigating your current plan ask asking coverage if you are out of country and whether or not if might lapse if you are out of the country for a prolonged period of time. You should also consider language and legal barriers to be sure that you would qualify for a payout to beneficiaries in a different country.

Two huge benefits to a worldwide life insurance plan is that you can usually choose the payout currency and will be covered globally. Note that these policies are usually pricier and require more legal documentation and hoops to jump through to in order to receive benefits.

For the most part, international coverage is a smart choice if you plan to move frequently or are living abroad long-term or permanently. You should also consider the type of policy: term life or whole/universal life. Term life is temporary and thus has lower premiums with no cash value, whereas a universal plan has lifetime coverage, will include savings and investments and better coverage if you intend to move abroad. While it’s more expensive, it is comprehensive.

Introducing Caser Expat Insurance’s NEW Life Insurance Coverage

Caser Expat Insurance cares about every stage of your life – from childbirth through to retirement and everything in between. And because you care, too, Caser is rolling out a new life insurance policy designed with you in mind, and to give you peace of mind if you leave your loved ones behind.

Choose from two policies, the individual or the Starbien personalized plan, depending on your personal needs. The individual plan will allow your beneficiaries to receive the financial compensation as set out in your plan in the event of your death, regardless of the cause. Caser also makes it easy to add onto the plan as your needs change.

If you’re looking for fuller coverage and a 100% customizable insurance plan, consider the Starbien – Personalized option. In addition to the benefits of the individual plan, you can choose from a myriad of additional coverage options:

Accidental death
Death in a traffic accident
Absolute permanent disability (including due to a work- or traffic-related accident)
Serious illness
Daily compensation for hospitalization

Regarding costs: costs for health insurance policies depend largely on your age, the coverage details as well as the capital to be insured. For this reason, working with a broker and using an online calculator is recommended as you begin shopping for plans. Or, ask for Caser to give you a call in your language so that you can get started saving for your family’s future. A mother playing with her daughter after getting their life insurance in Spain.

What to look for in a life insurance plan

When shopping for a life insurance plan in Spain, always start with recognized companies, like Caser Expat insurance. Review company details related to claims history and financial ratings and be sure that the financial jurisdiction is stable, such as the EU, the US or other countries or regions.

When reviewing policy details, keep the following in mind:

Exclusions: War zones? Dangerous sports? Pre-existing conditions?
Currency of the policy: Ideally match your income or savings worldwide; in the case of a .
Premium guarantees: Will premiums go up with age or health changes?
Residency requirements: Some insurers need you to be in a certain country at time of application or death.
Medical exams: Some require full underwriting, others are no-exam.
Are add-ons available? And at what price? This could include accidental death, waivers of premium, disability income or critical illnesses. Review these policies closely to be sure they are beneficial to you and closely related to your needs.

While Spain is a wonderful place to retire, you may change your mind or have someone or something calling you home. Check with your insurance about the portability of your policy if you choose to move countries, and that the policy covers the payout in the event of death abroad.

And it goes without saying that yearly review is paramount for saving money as well as making sure your life insurance policy is tailored to you. Be sure to add additional births, homes or other milestones to your policy to ensure the best possible coverage – and legacy – for your loved ones.

Frequently Asked Questions

The best way for a foreigner to get life insurance in Spain is to go through a reputable insurance company that offers services for international clients, either directly or through a broker who understands both local regulations and expat needs. Many insurers have dedicated departments or advisors who speak English and can explain policy options, terms, and documentation requirements clearly. Typically, you’ll need a valid NIE (Foreigner Identification Number), a Spanish bank account, and proof of residency or long-term stay. Comparing quotes online or speaking with an insurance advisor who works with expats can make the process much smoother and tailored to your situation.

International residents in Spain have access to the same types of life insurance as Spanish citizens. The most common are term life insurance, which provides coverage for a specific period and pays a benefit if the insured dies during that time, and whole life insurance, which offers lifetime coverage and may include an investment component. There are also mortgage-linked policies required by some lenders, and accidental death coverage.

The cost of life insurance in Spain for foreigners depends on several factors, including age, health status, the amount of coverage, the duration of the policy, and whether it includes extras like critical illness or accident protection. On average, basic term life insurance might cost between €10 and €30 per month for a healthy person in their 30s or 40s, but premiums can vary widely. Some insurers may apply slightly higher rates for non-Spanish nationals, especially if medical records or residency status are unclear, but generally, expats are treated similarly to residents in terms of pricing.

Yes, several insurance companies in Spain offer life insurance plans specifically tailored for English-speaking expats. These plans often come with English-language customer service, translated policy documents, and advisors who understand the unique needs of foreign residents. Providers like Caser Expat are specialized. These plans are ideal for people who want to avoid confusion due to language barriers and prefer to work with professionals familiar with both the Spanish system and the expectations of international clients.