Funeral insurance is one of the most deeply rooted types of insurance in Spain, with penetration reaching nearly 46% of the population. This figure reflects the cultural and social importance Spaniards place on planning for funeral services. UNESPA
Historical origins
The origins of funeral insurance date back to the Middle Ages, when brotherhoods and guilds created mutual aid societies to guarantee their members a dignified burial and provide support to families in the event of death. These early forms of collective protection laid the foundation for what we now know as funeral insurance.
In Spain, some theories trace the birth of this type of insurance to Galicia, within the stonemason and fishermen guilds. This hypothesis gains strength when considering that two of the leading companies specializing in funeral insurance, Ocaso and Santa Lucía, were founded in Galicia in 1920 and 1922, respectively.
Evolution and present day
Initially, funeral insurance was aimed at people with limited resources, offering funeral services that helped ease the financial burden caused by the death of a family member. Over time, these policies evolved to include additional coverages such as travel assistance, legal advice, and psychological support for relatives.
By the end of 2023, funeral insurance covered 22.3 million people in Spain, representing 46% of the population. The provinces with the highest proportion of insured individuals are Cádiz (78%), Ávila (76%), Badajoz (73%), Ciudad Real (70%), and Jaén (65%). On the other hand, the provinces with the lowest penetration are Soria (19%), Teruel (20%), Huesca (21%), the Balearic Islands (21%), and Navarra (23%).
Coyfer: Committed to your peace of mind
At Coyfer, we understand the importance of having funeral insurance that adapts to the current needs of Spanish families. That’s why we offer policies that not only cover funeral expenses but also provide additional services to support loved ones during difficult times. Our commitment is to guarantee the peace of mind and security of our clients, accompanying them through every stage of life.
Note: This article is based on information provided by UNESPA and other specialized sources in the insurance sector.