Life Insurance in Spain
for expats and their families
Six flexible plans for every stage of life
Serious illness advance payment
Cover for permanent disability
Plans
Six plans to match your stage of life
What’s covered
Good to know
Life insurance and inheritance in Spain: four things expats should know
Get your life insurance quote
Tell us a few details about you and what you’d like to protect, such as a mortgage, your family’s income or your children’s education, and an agent will prepare your options, in English.
FAQs
Life insurance in Spain: frequently asked questions
The bank says I need its life insurance for my mortgage. Can I take it out with you instead?
Yes. Spanish mortgage law (Law 5/2019) does not allow banks to force you to buy their own insurance. You can take out Allianz life insurance through us and name the bank as beneficiary for the outstanding loan; if you already have the bank's policy, you can usually cancel it at renewal. We check the conditions your bank requires so the switch is accepted.
Can I take out life insurance in Spain if I'm not Spanish?
Yes. Your nationality doesn't matter: what counts is that you live in Spain. You'll need your passport or residence card and your NIE, and we handle the application with you in English.
Is the payout taxed in Spain?
Yes. For beneficiaries, a life insurance payout in Spain is subject to inheritance tax (Impuesto de Sucesiones), not income tax. In the Region of Murcia, spouses, children and parents currently benefit from a 99% relief, while other beneficiaries pay more. Beneficiaries who live outside Spain may also have obligations in their own country, so check your case with a tax adviser.
What does the serious illness cover include?
It advances your insured capital while you're alive if you're diagnosed with a serious illness, so you can focus on your treatment. It covers conditions such as cancer, heart attack, stroke, chronic kidney failure, major organ transplants and cardiovascular surgery. The full list is set out in your policy conditions.
What does total professional disability mean for the self-employed?
Standard life insurance only pays for absolute disability, when you can't do any job at all. Total professional disability, included in the Professional plan, pays the full capital if an accident or illness stops you from doing your own profession, which is essential if you're self-employed.
Can my family abroad claim the payout?
Yes. Beneficiaries don't have to live in Spain. We guide them through the claim in English: the death certificate, the Spanish register of life insurance contracts and, if documents come from another country, any translations or apostilles needed.
Does the policy pay more for a road accident?
Yes, on the higher plans. If death or disability is caused by a road accident, your beneficiaries receive double or triple the base capital, depending on the plan.
Does the policy include making a will?
Yes. It includes a legal service to help you draft your will and Allianz pays the notary's fees at the notary of your choice. For expats with property in Spain, a Spanish will for Spanish assets is one of the best ways to make things easier for your heirs.
Can I change my beneficiaries?
Yes, as many times as you like and at no cost, with a simple signed document. It's useful if you marry, divorce, pay off your mortgage or want the money to go to your children instead.
I have a pre-existing condition. Can I still get cover?
Often, yes. Before signing you complete a health questionnaire, and it's essential to answer it honestly. Allianz's medical team reviews any pre-existing condition confidentially, and many minor conditions are accepted without problems.
AMB Seguros is an exclusive Allianz agency in Murcia specialising in life insurance for expats and international families: mortgage life cover, protection for your family’s income and help with Spanish inheritance paperwork, with advice in English across Spain.