Life annuity as an economic instrument of protection for elderly and disabled people

Abstract

An increasingly aging Spanish society, a situation of economic crisis with an inflationary trend in prices that implies a loss of purchasing power, an increase in the value of housing combined with the fact that Spain is a country of homeowners and that the amount of The retirement pension and, where applicable, disability pension do not cover vital needs in this context and the expenses associated with aging determine the search for new forms of savings and financing that complement such pensions. Among these instruments we can highlight the reverse mortgage, the sale of the bare property, the sale with guaranteed rent, the annuity insurance, the alimony contract and the annuity among others. This study, due to space, will focus on the analysis of the annuity in everything that its legal dimension implies.