We live in a fast-paced world where our daily routines leave little time for self-reflection. Unfortunately, life is full of obstacles, and for those of us in the life insurance industry, this is something we see every day. Adjusting to a new reality, such as a disability, does not mean giving up. To use an analogy from cycling (one of my favourite sports), it’s like climbing a steep hill: with effort and determination, you make progress steadily day after day.
Experiencing a disability can change your life in the blink of an eye. Consider Christopher Reeve, the iconic Superman. I was personally struck by the news of his accident, and it serves as a reminder that reality is vastly different from fiction.
Our minds are not naturally prepared for such a major change. Beyond the emotional impact, it requires starting afresh in many aspects—rebuilding routines, adapting daily life and adjusting to a new way of doing things. These changes often involve modifications to your home, car and personal mobility, among other things. In short, it comes with significant and completely unexpected costs, but ones that we can prepare for.
To better understand the context, it is useful to examine the figures for Andorra.
The statistics show that, as of 31 December 2023, the total number of households in the country was 41,765, with 85,101 residents recorded on that same date (latest available data).
Notably, during 2023, 47% (19,632) of these 41,765 households consisted of a single occupant. This is a significant figure.
Looking at the profile of these individuals, those who live alone—often referred to as “singles”—tend to be self-sufficient, aged 25 to 30, without dependents, independent and financially stable. Singles prioritise self-care and enjoy small daily indulgences.
The significance of this demographic lies in its increasing numbers, which have been rising steadily in recent years.
In response, insurance companies are striving to provide policyholders with the best possible services, taking into account all personal circumstances, including those of singles. This group is particularly concerned about the possibility of becoming disabled, as it would pose a major challenge should an accident occur, especially because this demographic is relatively young with many years of life ahead of them.
To address this need, specific life insurance policies are available for individuals without dependents or those particularly concerned about having coverage in the event of disability. These policies are designed for single policyholders, with disability cover as the main benefit, significantly exceeding the death benefit. One example is Creand Life Singles, the only policy of its kind in Andorra, which offers a disability payout ten times higher than the death benefit. These policies also include additional guarantees, such as advance funeral expense coverage and home care assistance services.
Living alone no longer carries the stigma it did three or four decades ago. Today, the term ‘single’ has a broader meaning and singles themselves are increasingly recognised as a key target group for certain products and services tailored to their needs.
Diari d’Andorra, 12.03.25