Life Insurance as an Expat in Spain
- gaynor6
- Mar 30, 2016
- 2 min read
Why take a life Insurance policy ???
There are two main reasons to take out a life insurance policy in Spain - To cover your mortgage or to protect your families future.
Your mortgage provider will request that you take this cover as part of the agreement. It is worth requesting a quote from an provider independent to the mortgage company as often premiums can be more competitive.
With regards to cover to protect your families future - There are many reasons for this, here a just a few.
Could your partner afford to look after your family in the event of your passing in the manner they are accustomed - Especially as you live in Spain - Would a sudden passing mean the family would have to relocate back to the UK ?
Would your children still be able to attend private school or go to university?
If you bequest your home to a family member will they be able to afford the inheritance tax to take the property - This can be rather hefty here in Spain ?
Would you rather leave your family with an inheritance or a debt ?
Life insurance isn't something people generally like to think or talk about, but it’s a way to give you peace of mind and protect your family’s future should you die.
It allows you to provide some financial security to your spouse, civil partner and/or children.
Financial support certainly can’t compensate for the terrible loss of someone you love, but having to deal with the burden of debts and worries about finances is the last thing needed by those left behind.
As well as cover for death you can add such cover as serious illness and or permanent disablement so if in the event you are unable to work and provide for yourself of your family you receive a payment in order that you may recuperate and still look after your family.
You can choose a sum insured that suits your needs and payments can be spread across 12 months.
It really is not as expensive as one may think.
To request a quote from GPS Insurance Services in Spain please click on the following link https://goo.gl/Yi076U
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