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Around 50% of Funeral insurance policyholders is under 40 years old, according to NorteHispana Seguros

"According to data from NorteHispana Seguros policyholders, a company belonging to Grupo Catalana Occidente specialised in funeral insurance, over 50% of clients who take out a funeral insurance policy are under 40 years of age. Of these, almost 20% correspond to policyholders under 20 years of age, which could be interpreted as a prevention and protection measure chosen by parents."

Conclusions reached by NorteHispana Seguros from data analysed from funeral insurance policyholders.

Another detail revealed in the analysis is that 54% of policyholders are women, against 46% of men. This suggests that women have more concerns than men about this reality and are more active in looking for insurance. Interestingly, this trend increases after the age of 80. At this age, women represent 61% of the total number of policyholders in this segment against 39% of men.

Awareness is increasing among the population for the need to relieve families of the burden of the cost of a funeral. Recent fiscal years have shown an increase in the number of people who decide to take out funeral insurance and who plan the service in detail, thus saving problems for their family at such a difficult time. Since 2011, the number of NorteHispana policyholders has increased by 7%.

A standard funeral insurance includes a casket, the religious service (funeral mass or mass after the service), two taxis to accompany the family from the church to the cemetery, wreaths, incineration and urn and the processing of the necessary documents. As complementary services, NorteHispana offers policyholders a 24-hour medical helpline and the option to receive advice on legal matters.

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Jone Paredes

Jone Paredes