In Spain, according to Getlife Report, Analysis of the perception and acceptance of life insurance in Spain, there are about 20 million policyholders. Of those millions, 60% are owned by men and 70% by people aged 35 to 55. 17% belong to those under 35 and only 12% over 55.

In a report based on more than 2,000 surveys, 55% of those who take out life insurance have children and about 30% say they choose to take out a policy to protect themselves and their partner. 35%, on the other hand, admit they did it because their bank required him to sign a mortgage. 80% of those who hired him for this reason did so directly with their financial institution.

There are several reasons for deciding to take out life insurance, such as being in a profession that is considered risky, 15% of them did so for that reason. Among them, 22% are security related professionals, either privately or because they serve in the military or security forces. On the other hand, there are reasons not to sign the policy. And the fact is that many associate this insurance with death and illness (60.9% of Spaniards), and less than 40% with safety and protection.

According to a Getlife report, the average capital insured in Spain with life policies is 100,000 euros. 42% are insured for €100,000 or less; 25% from 100,000 to 150,000 euros and less than 15% claim to have an insurance amount of more than 150,000 euros.

In terms of Spaniards’ investment in life insurance, 72% of those surveyed pay €500 or less annually for their life insurance policy, 20% between €500 and €700 and only 10% invest more than €700 in the concept.