Renter's Insurance
Annuity insurance is a life-savings insurance policy that guarantees the holder, through the payment of a contribution, the collection of a periodic annuity throughout life.
There is a wide variety of annuity insurance, since it depends on the insured's will whether to take out a life or temporary annuity insurance policy, with or without capital at death and with or without reversion of the annuity.
The objectives, in general, are to have an income that allows to live comfortably the last years of life. It is especially recommended for the elderly who wish to have a periodic income with a more beneficial interest and taxation than those offered by deposits.
Coverage
The characteristics of Annuity Insurance are as follows:
- The client chooses the term of the rental payment, i.e., it can be temporary or for life, and whether the payment is monthly, quarterly, semi-annually or annually.
- The client chooses whether or not to have reversibility, i.e., if upon death the annuity will be collected by the person designated in the contract
- The client chooses whether to keep all or part of the capital at death for heirs, or to consume it in its entirety.
- Can be rescued
- Attractive tax advantages, depending on the duration of the annuity and the age of the insured:
a) Lifetime
b) Temporary
To be taken into account
It should be noted that annuities, in addition to the capital we already have consolidated, can also be contracted in the following cases:
- Annuities of Participants: These are the annuities that are formalized for the collection of a Pension Plan and/or PPA (Insured Pension Plan).
- Income Capital Gains: In the tax reform of 2015 it came into force that for any capital gain (sale of assets, real estate, etc.), for those over 65 years of age, if they contract a life annuity for that gain, they are exempt from paying the tax on it.
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