Occident expands its life insurance offering with the launch of Senior Life for insured parties aged 60 and over

"The policy includes financial protection in the event of death, advance payment for terminal illnesses, and coverage for hospitalisation and accidents"

The progressive ageing of the population and increase in life expectancy are redefining what people over 60 need in terms of financial protection. According to data from the National Institute of Statistics (INE), more than 20% of the Spanish population is already 65 years old or older, and this percentage is expected to exceed 30% in the next two decades. Added to this is a life expectancy upwards of 84 years, one of the highest in the world, which significantly prolongs the stages of retirement and economic dependency, driving the demand for more flexible, accessible insurance solutions adapted to the reality this segment is experiencing. As a result, Occident has expanded its Life insurance offering with the launch of Senior Life, a policy specifically designed for people between 60 and 75 years old – both ages included.

Senior Life is an individual, renewable annual life insurance policy, created with the aim of providing peace of mind to people in this age range and their families. To this end, it combines financial protection in case of death with coverage for hospitalisation and accidents, the possibility of requesting an advance in case of terminal illness, and incorporates medical and legal guidance services and help in managing procedures.

The policy provides between €10,000 and €100,000 of insured capital, depending on the age at which the policy is taken out, in the event of death from any cause. Specifically, for those aged 60 to 64, between €10,000 and €100,000 can be insured, while for the 65 to 75 age bracket, this amount can be between €10,000 and €50,000. This insured capital decreases 5% annually, until reaching a minimum insured sum of €10,000.

Among the guarantees included, Senior Life incorporates Senior Accidents coverage, which provides compensation for fractures, burns, sensory losses, amputations or serious trauma. In addition, there is daily compensation for hospitalisation, applicable both for illness and accidents, allowing you to choose a daily subsidy of €20, €40, €60 or €80, with a two-day excess and coverage of up to 90 days per year.

The insurance also includes coverage for terminal illnesses, offering the possibility of requesting an advance of up to 50% of the sum when the insured party is in palliative care and there is no chance of recovery.

In addition, Senior Life includes free medical guidance services by phone or by video call, legal advice by phone, and support in settling Inheritance Tax, with the aim of helping the insured party and those close to them to resolve doubts and manage procedures more quickly and securely.

In the words of Joan Miquel Cervera, Head of Life Risk Products and Death, 'With this launch, we are reinforcing our commitment to offering solutions adapted to the real needs of our customers, expanding our offering with a specific product for seniors that combines economic protection and coverage and services of value.'

Pair it with Senior Health and Well-being

Occident offers the option to pair Senior Life with Senior Health and Well-being, a policy aimed at people over the age of 60 which facilitates rapid access to private medical services at agreed prices, together with specific coverage for their care. The recently updated product strengthens comprehensive care for the elderly, incorporating new care services and digital health solutions. All of this is aimed at promoting agile and adapted care in situations of dependency or convalescence.

Senior Health and Well-being offers a large medical directory with more than 13,000 professionals and 3,900 dental clinics, guaranteeing fast and affordable access to private healthcare through services at agreed prices.