When the 'death insurance' knocks on your door: one in two Spaniards has covered the cost of dying

In Spain, one in two people pays for a death insurance policy, a unique practice in Europe. This insurance covers burial costs and often includes additional services. The concept originated in Galicia, where families made small weekly contributions to ensure burial expenses were covered. Today, the death insurance market generates over 3 billion euros annually, with Santalucía and Ocaso dominating the sector. Coverage rates vary by region, with Cádiz having the highest at 75.6%. The average burial cost ranges from 3,500 to 6,500 euros, with significant regional differences. Despite higher premiums, many opt for this insurance for peace of mind, leading to high coverage rates across all age groups, including children.