Insurance Type

Life Insurance in Ecuador

Term and whole life coverage at a fraction of US costs. Protect your family with local or international life insurance policies.

Policy Types

Term vs. Whole Life in Ecuador

Term Life

Pure protection for a fixed period (10, 20, or 30 years). Affordable and straightforward.

Lowest premiums — from $25/month for $100K coverage

Fixed period — 10, 20, or 30 year terms

No cash value — pure death benefit protection

Best for young families and mortgage protection

Can convert to whole life with some providers

Typical Cost

$25–$100/month

For $50K–$200K coverage, age 30–55

Whole Life

Lifetime coverage with a savings/investment component. Higher premiums but builds cash value.

Lifetime coverage — no expiration date

Builds cash value over time

Can borrow against the policy

Higher premiums than term life

Good for estate planning and wealth transfer

Typical Cost

$80–$300/month

For $50K–$200K coverage, age 30–55

Providers

Life Insurance Providers in Ecuador

Seguros Equinoccial (Zurich)

Local

Ecuador's largest insurer. Offers both term and whole life. Payout in Ecuador. Spanish-language service.

$25–$200/month

Seguros Sucre

Local (State-owned)

Budget-friendly term life options. Government-backed financial stability. Basic but affordable.

$20–$100/month

BMI / Generali Global Health

International

International life insurance with global payout options. Higher coverage limits. English service.

$50–$300/month

Cigna Global

International

Life coverage as part of comprehensive international plans. Good for US-connected expats.

$80–$400/month

Key Considerations

Life insurance is not legally required in Ecuador

Local policies pay beneficiaries in Ecuador; international policies pay globally

Tax treatment follows Ecuadorian law for tax residents

Medical exams may be required for higher coverage amounts

IESS includes a small death benefit (~$1,000) for enrolled members

Consider whether your US life insurance still covers you as an expat

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