Life insurance is a savings product managed by an insurance company. You are free to select the level and rate of your payments: it allows you to capitalize for your future projects, but also for your retirement. With life insurance, you can also protect your loved ones by designating them as beneficiaries. If you die, the amounts saved will be paid to them under specific tax conditions.
By taking out life insurance, you set up progressive savings for the realization of a project. Whether it is to finance the studies of a child, prepare a trip or even plan a sabbatical year, it helps you to make your capital grow. However, life insurance is often created to prepare for retirement. It is therefore particularly renowned for its tax advantages, both when building up savings and when they leave. It is, in fact, possible to recover your savings in the form of capital or an annuity.
When taking out your life insurance, it is essential to properly draft the beneficiary clause, which is mandatory and determines the person to whom your capital will be paid, in the event of death. You are free to choose the beneficiaries you wish to designate: it is possible to allocate the benefit to members of your family, third parties or even charities. The standard clause allows you to protect your spouse or your heirs. Currently, acceptance of the beneficiary clause must be co-signed by the subscriber and the beneficiary. A beneficiary can no longer accept the benefit of the contract without your agreement.
