What is life insurance for and what does it cover?

A life insurance policy allows you to leave an insured capital sum to the beneficiaries of your choice so that, in the event of your death, they can receive it in any way they wish: either as a capital sum or as an annuity.

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Benefits of life insurance

Mutualidad helps you

We want to advise you so that you can find the life insurance best for you, to bring you satisfaction and peace of mind.

What are your goals?

  • Contingency protection
  • To help out your family when you’re gone
  • For your loved ones receive a capital sum in the event of your death

Life insurance products

Security for your family

One of the reasons to take out life insurance is when taking out a mortgage; with this type of loan, it is best to be protected. In this sense, the mortgage is guaranteed to be paid for a period of time if this happens, so that you can continue to pay the mortgage with the money received.


Regarding taxation

In the event of the death of the insured person, in the Plan de Ahorro Flexible, the beneficiary must pay inheritance and gift tax, adding the amount received to the rest of the value of the inheritance for the purposes of calculating the tax.

If the death cover has been taken out through Plan Alternativo Autónomo or PPA Mutualidad, the death pay-out for the insured party will be considered as employment income for personal income tax purposes (IRPF) and, therefore, will not be taxed for inheritance and gift tax purposes*

* It will only be taxed as inheritance tax if the contributions made to a Professional System have not been deducted at any time in the deceased insured person’s income tax return”

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