ParticularesInsured amount M€184 Policies processed3.800 Clients2.640
Life insurance
At JORI& we know how to value what is most important, which is why we help you plan the future of your loved ones.
In short
What is life insurance
A life insurance policy pays a capital sum to the beneficiaries if the insured person dies and, if the complementary cover is taken out, also if they suffer a permanent absolute disability. Its real function is to replace the lost income: cover the outstanding mortgage, maintain the family's standard of living, and prevent heirs from having to sell assets to pay Inheritance Tax.
Advantages
Advantages of life insurance
A life insurance policy does not protect the policyholder: it protects the project of those who remain.
The mortgage ceases to be a problem
The capital pays off the outstanding debt in one go. Your family keeps the house without having to rely on managing the instalment with one less salary.
You are not tied to the bank
The law prohibits conditioning the loan on taking out the insurance with the entity. Taking it elsewhere usually results in significant savings while maintaining the same capital.
Liquidity to pay the inheritance
The Inheritance Tax is paid before having access to the assets. Without cash, heirs sell in haste and below value.
The price is frozen at your current age
Taken out young and with a level premium, the cost does not increase later even if you fall ill. Each year of delay makes it permanently more expensive.
Profile
Who it is for
Families with a mortgage
Those with outstanding debt and a single main source of income are the profile with the most to lose.
Parents with dependent children
Families needing to secure the years until the children achieve financial independence.
Self-employed and business partners
Profiles without the safety net of an employee and with responsibility for business debts.
Estates with complex succession
Heirs who will receive illiquid assets and need cash flow to meet tax obligations.
Technical criteria
What you should know before signing
Life insurance is taken out once and used at the worst possible time. The contract details matter more than in any other line of insurance.
The insurance linked to the mortgage
The bank may require life insurance, but it cannot force you to take it out with them. Comparing usually results in considerable savings with the same or better cover.
Level premium versus increasing premium
Annual renewable premium policies are cheap at first and become much more expensive after fifty. It's advisable to know this in the first year, not the fifteenth.
Poorly completed health questionnaire
Omitting a previous condition allows the insurer to reduce or reject the benefit. Declaring everything, even if it increases the premium, is what guarantees payment.
Outdated beneficiaries
An old designation can leave the capital in the hands of someone who is no longer appropriate. It should be reviewed after each significant family change.
Scope
Main covers of life insurance
- Death from any cause, including illness and accident
- Permanent absolute disability as a supplementary guarantee
- Additional capital for death by accident or traffic accident
- Constant or decreasing capital modality linked to mortgage repayment
- Advance of capital in case of serious illness according to modality
- Free designation and modification of beneficiaries at any time
The definitive scope depends on the wording of each insurer. We review it with you before recommending anything.
The JORI& method
Cómo trabajamos
El mismo método en cualquier solución: entender la exposición real antes de mirar una prima.
Análisis del riesgo
Estudiamos la actividad, el patrimonio y los escenarios plausibles. Sin ese diagnóstico, comparar pólizas es comparar precios de cosas distintas.
Diseño del programa
Definimos coberturas, límites, franquicias y exclusiones aceptables. Decidimos qué se transfiere al asegurador y qué se retiene de forma consciente.
Negociación con el mercado
Presentamos el riesgo a las aseguradoras con las que trabajamos y negociamos condiciones. Somos independientes: no pertenecemos a ninguna compañía.
Acompañamiento y siniestros
Revisamos el programa cada renovación y, cuando ocurre el siniestro, actuamos como tu parte técnica frente al asegurador hasta el cobro.
Frequent doubts
Lo que más nos preguntan sobre life insurance
Am I obliged to take out life insurance with my bank?
No. The law regulating real estate credit contracts expressly prohibits linking the granting of the loan to taking out insurance with the same entity. The bank can require you to have insurance, but it must accept any policy with equivalent covers.
What capital should I take out?
As a practical reference: the outstanding mortgage debt plus the family's expenses for the years remaining until the children are independent. For many families, this amounts to between three and five times the annual gross income.
Is constant or decreasing capital better?
The decreasing capital accompanies the mortgage repayment and is cheaper, but only protects the debt. The constant capital maintains the full amount and also protects the family's standard of living. It is common to combine both in the same policy.
Is life insurance taxable?
The capital for death is taxed under the beneficiary's Inheritance Tax, with reductions according to kinship and autonomous community. If the policyholder and the beneficiary are the same person in insurance on a third party's life, it is taxed under Income Tax. The designation can be planned and has significant tax implications.
What happens if I become ill after taking out the policy?
Nothing: the policy cannot be cancelled or made more expensive due to a subsequent deterioration in your health. Precisely for this reason, it is advisable to take it out early, when the health questionnaire is still simple and the premium is low.
Does it cover disability as well as death?
Only if you take out the supplementary guarantee of permanent absolute disability. It is not included by default in all policies, and it is the cover most frequently missed, because a severe disability has an economic impact comparable to death.
Life
Your life insurance compared to the market
Tell us what you have contracted today and your current situation. We compare capital, exclusions, and deficiencies with what is available in the market today and provide it to you in writing.
- Independent broker: we do not belong to any insurer
- The specialist in the field you consulted answers you
- The review is delivered in writing, policy by policy
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