Spain's life expectancy exceeds 84 years, sparking funeral insurance cost debate

Spain's average life expectancy at birth reached 84.01 years in 2024, with women living to 86.53 years and men to 81.38 years, according to the Instituto Nacional de Estadística (INE). Projections for Castilla‑La Mancha show women will surpass 87 years by 2040 and men will reach about 81 years, while the national outlook predicts life expectancy could climb to 87 years for men and 90 years for women by 2075.

The demographic rise is prompting scrutiny of death‑insurance policies. About 22.3 million Spaniards—45.6 % of the population—have funeral‑cover policies. Long‑term premiums can accumulate to over €70,000 for a typical family, far exceeding the €3,500‑€7,500 cost of a direct funeral. Consumer group OCU warns some policies may end up costing three times more than paying for burial services outright.