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Benefits of an Insurance Plan for an Expat in Spain

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Happy retirementThe truth of life for most of the expats in Spain is most of them need to start their own businesses to survive financially as jobs and contracts of employment are difficult to come by and are usually very low paid with long working hours. If one partner dies, can the business and thereby the income continue? This is typically critical when the husband is a tradesman like a plumber or builder, and if he dies, the wife cannot continue the work by any means. And for such a situation, expat insurance in Spain is of utmost importance.

Benefits of Expat Insurance in Spain

  • The main benefit of expat insurance in Spain is your income you provide to your family is maintained even after your death. The policy should be designed so as to provide a sufficient life insurance to surviving dependants upon death of the policyholder. Being an expat in Spain and making a living is very hard than in other countries and your dependants may not have the same qualifications, capabilities and financial skills as yours and so, the expat insurance will make a source of income for them.
  • With expat insurance, any outstanding debts will most probably be paid off in full, likely including the largest debt – your mortgage, and also any credit card and other loans. Especially if you have a partner – life or business – you should necessarily opt for the expat life insurance in Spain to clear your debts and obligations, and to provide a decent amount to avoid any likely financial distress.
  • Expat life insurance in Spain also can pay for your funeral or cremation expenses. In case you have expressed a wish to be buried in another country than Spain, your family may incur a huge expense, and in that case, your life insurance comes to their help.

Looking at the serious situations that may arise for your family and dependants after your death, an expat life insurance in Spain is a must for you. Therefore you should purchase one at the earliest if you have not done so yet.

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