Q: I have a mortgage — can I use this policy AND deduct it?

Yes, and it's a smart move. Spanish law (Ley 5/2019) means no bank can force you to buy their life insurance as a condition for granting or keeping a mortgage. You can take out the Life5 policy, assign the mortgage rights to the bank (to meet its requirements), save up to 80% vs the bank's offer, and — if you're an autónomo — still deduct up to €500/year on IRPF. Three wins in one decision. --- *Reviewed by Life5 Legal Team · Your Life Correduría · DGSFP License J3945*

Question 1

As a freelancer in Spain, can I deduct my life insurance on IRPF?

Accepted Answer

Yes — if you are a tax resident in Spain filing IRPF as a self-employed worker (*autónomo*) under Estimación Directa. You can deduct up to €500 per year of the life insurance premium. If you have a recognized disability (≥33%), the cap rises to €1,500 per year. This is an exclusive benefit for freelancers under Estimación Directa; it does not apply to the simplified regime (Módulos), and it does not apply to expats who are non-resident for tax purposes in Spain. Legal basis: Art. 30.2.1ª of Ley 35/2006 del IRPF. --- *Reviewed by Life5 Legal Team · Your Life Correduría · DGSFP License J3945*

Question 2

How much does life insurance for freelancers cost?

Accepted Answer

The price depends on your age and the insured capital you choose. Because Life5 is 100% digital, with no intermediaries, you can find cover from €5 per month. And because up to €500/year is IRPF-deductible, the real net cost after tax is even lower. Calculate your exact price in under 2 minutes with our online calculator — no commitment, no data shared with third parties.

Reviewed by Life5 Legal Team · Your Life Correduría · DGSFP License J3945

Question 3

I have a mortgage — can I use this policy AND deduct it?

Accepted Answer

Yes, and it's a smart move. Spanish law (Ley 5/2019) means no bank can force you to buy their life insurance as a condition for granting or keeping a mortgage. You can take out the Life5 policy, assign the mortgage rights to the bank (to meet its requirements), save up to 80% vs the bank's offer, and — if you're an autónomo — still deduct up to €500/year on IRPF. Three wins in one decision.

Reviewed by Life5 Legal Team · Your Life Correduría · DGSFP License J3945

Question 4

Does it pay out if I can't work due to permanent disability?

Accepted Answer

Yes — with the optional Total Permanent Disability (TPD) rider. If an illness or accident permanently prevents you from carrying out any profession, you receive the insured capital while you're still alive. It's the ultimate financial safety net if your business depends on you showing up every day. The maximum age at signup for the TPD rider is 64. --- *Reviewed by Life5 Legal Team · Your Life Correduría · DGSFP License J3945*

Question 5

What happens to my policy if I move out of Spain?

Accepted Answer

Your Life5 policy is designed for residents of Spain. Short trips abroad (under 30 days) are covered. Two exclusions matter: - Stays abroad longer than 30 days are not covered — claims that occur during a trip or posting longer than 30 days outside Spain are excluded. - Travel to countries that the Spanish Ministerio de Asuntos Exteriores classifies as "not recommended for travel" is excluded. If you move permanently to another country, contact us before you go — we can help you cancel (no penalty, no minimum term) and often guide you towards a local insurer in your new country. *Exact policy wording: "Quedan excluidos de cobertura los siniestros ocurridos fuera del territorio nacional en estancias superiores a 30 días de duración, en los países a los que el Ministerio de Asuntos Exteriores haya calificado como países no recomendados para viajar."* --- *Reviewed by Life5 Legal Team · Your Life Correduría · DGSFP License J3945*

Question 6

Do I need a medical exam?

Accepted Answer

No. We know freelancer time is precious. The process is 100% online — no clinics, no blood tests, no appointments. You just answer a short online health questionnaire and your policy (underwritten by AXA) activates instantly once signup is complete. If your questionnaire flags a specific condition that needs a bit more detail, we'll let you know what document we need — but even then, it's a document exchange, not a medical appointment. --- *Reviewed by Life5 Legal Team · Your Life Correduría · DGSFP License J3945*

Concept	Terms & Legal Basis
IRPF tax treatment: deductible from the IRPF taxable base for self-employed workers (autónomos) under Estimación Directa.	Deduction cap: up to €500 per year per policyholder (or €1,500 if the policyholder has a recognized disability ≥33%). Legal basis: Art. 30.2.1ª of Ley 35/2006 del IRPF.
Key exclusions: immediate cover from day 1 for accidents and acute infectious illness. Standard 6-month waiting period for natural death / disease-caused death. Suicide: not covered during the first year of the policy.	Cancellation: no minimum term, no penalty. Cancel any time from your customer area.

Life insurancefor freelancers in Spain.

Tax-deductible, backed by AXA, 100% in English.

100% online, no medical exams

The fairest price

Total flexibility

Life5 vs. traditional banks

Bank insurance

Save up to €500 on your Spanish IRPF

Frequently asked questions — freelancers life insurance in Spain