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Life insurance

BIL offers life insurance policies so your loved ones are protected in the event that the policyholder passes away. They also allow you to take advantage of tax benefits.

Life insurance: prepare your future, while keeping your family safe.

You make one or several payments each year throughout the term of the life insurance policy. The savings built up plus any interest accrued will be paid when the policy ends. The life insurance policy has a 10-year fixed term.

Advantages:

  • Very attractive tax regime in Luxembourg for this type of product.
  • Choice of five funds depending on your investment strategy, with the option to switch at any time (switching generates fees).
  • Management entrusted to well-reputed fund managers.
  • Assurance that in the event of your death, your savings will be paid to your beneficiaries.
  • Death cover included: in the event of death, at least 130% of the premiums paid will be repaid to your beneficiaries (less any partial surrender).
  • Savings are not frozen: it is possible to surrender your policy before it expires (penalty imposed).

Very attractive tax regime in Luxembourg for this type of product

With life insurance, you can take care of your loved ones while reducing your tax base. Indeed, you can deduct the premiums paid up to EUR 672 per year and per person within the household/per person belonging to the household for tax purposes – (including any children for which the taxpayer receives a tax allowance).

In the event of death, you are not subject in Luxembourg to any tax on the remuneration on the policy. To take advantage of this particularly attractive tax benefit, you must hold your policy to term. To simulate other possible deductions, visit www.deductionsfiscales.lu.

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