The population of Spain is living longer and longer. Both men and women have a life expectancy of more than 80 years. We have more time but we also face more dependency situations due, not only to age, but also due to illness, accident, disability or limitation. The Dependency Law was approved in 2006 to alleviate these circumstances. However, in recent years the Government allocation for the “National Dependency System” has suffered severe cuts which have left hundreds of thousands of dependent people without benefits or attention. Currently, 310,000 people with recognised rights are on the waiting list to receive assistance.

To cover part of this need the insurance industry is beginning to develop new products with coverages the main goal of which is to ensure compensation via income, capital or service provision when the insured person enters a dependency situation . This occurs in 3 cases: due to physical, mental or intellectual limitations; to inability to perform daily activities oneself; or to the need to rely on a third person.

Who are dependent people?

They are people who need support to perform basic tasks such as dressing, eating, personal hygiene, etc. They can be young or old, people with a disability or/and with a chronic or temporary illness. Everybody is liable to be dependent at some point in our lives because it can happen to anyone.

What does the policy provide?

Apart from compensation – which may take the form of a lump sum or a regular income, there are other guarantees such as family assistance. This includes helping the children, parents and spouse with orientation, advice and home assistance.

These policies are not mandatory, but they are advisable. They are not complicated either, although they must be analysed carefully. Our best advice is foresight and being well insured is the best answer.