Frequently asked questions about term life insurance

Insurance that pays a sum to the people you choose, your beneficiaries, if you die while it is in force. Depending on the package it also covers other things, such as serious illness or disability from an accident. It is risk cover: it is not designed for saving.

The people you name as beneficiaries. You choose them when you take it out and you can change them later. If the insurance is linked to a loan, the bank can be named as beneficiary for what you owe it; we explain this on the page about life insurance for your mortgage.

No. A funeral plan is meant for the funeral and its costs; if it includes any sum at all, it is small and only for accidents. Term life insurance leaves your beneficiaries the sum you have chosen.

Check two things: how much it covers you for and what happens to it if you change jobs. If the figure falls short or the insurance depends on your employment contract, a policy of your own fills the gap.

Savings form part of the estate and are not always available to your family straight away. And if a disability leaves you without income, they get used up on day-to-day living. The insurance sum goes to the people you have named as beneficiaries.

According to the Allianz general conditions (July 2026 edition), death cover runs up to 80, and disability and serious illness cover up to 67. The conditions do not set a maximum age for taking it out; with your date of birth we can tell you which cover you can have.

Yes. For this insurance you have to be resident in Spain, and we will ask for your NIE.

Four: your date of birth, your postcode, what you do for a living and your NIE or DNI. If you know what sum you want, tell us. If not, we calculate with €100,000 and adjust it afterwards.

Because the Allianz rate calculator uses it to see whether you already have another policy with Allianz. If you do, it retrieves your details and applies the additional customer discount. Without the NIE, the price would be the one for someone who is not a customer.

Because it is one of the details Allianz asks for to calculate the premium: working in an office is not the same as working on a building site. Tell us your job as it really is; if that detail changes, the price changes.

An example calculated with the Allianz rate calculator on 29/10/2026: Básico package, €100,000 sum insured, annual payment, office job, with our standard discount already applied. It comes to €104.44 a year at age 35, €198.89 at 45 and €425.20 at 55. It is for guidance: your price depends on your age, your occupation, the sum insured and the package. See the full example.

There is room to manoeuvre. You can start with a lower sum and raise it later, or pay the premium in instalments instead of once a year. Tell us how much you want to spend and we will find the combination that fits.

The Allianz quote carries the date of the calculation and is valid for 7 days. If you take it out later, we calculate it again.

No. It is a no-obligation enquiry. We send you the quote and you decide.

On working days, less than 24 hours from when your message reaches us. The office is open Monday to Thursday; anything that arrives on a Friday or at the weekend we see on the next day the office is open.

The Allianz quote with all six packages and, before you sign, the Allianz nota informativa previa. Life insurance has no IPID, the standard summary used for other insurance: the mandatory document is that information note.

You need to be resident in Spain, plus a copy of both sides of your NIE and the signed application. We tell you beforehand what else is needed in your case.

Yes. We are at Avda. Austria 36, Urb. Villa Blanca, Local 6, 38660 San Eugenio Alto (Adeje), Monday to Thursday from 10:00 to 17:00. We can help you in Spanish, German and English.

It can ask for life insurance to be in place, but not that it be its own. Ley 5/2019 de crédito inmobiliario (article 17) obliges it to accept a policy from another insurer with equivalent cover, and does not allow it to worsen your loan because of that.

Riesgo Protección Financiera is linked to a loan: the sum insured can fall as the debt falls, and disability and payment protection for medical sick leave can be added. Serious illness is not included; that is in term life insurance. All about insurance for your mortgage.

No. Payment protection pays the loan instalment during medical sick leave, not when you are unemployed. And it starts working six months after you take it out.