Choose the Life Insurance that best suits you and your savings
Insured Pension Plan (PPA)
It is a long-term savings insurance policy, whose objective is to complement the public retirement pension and whose contributions are tax-deductible.
The Insured Pension Plan (PPA) has a minimum return guaranteed by law for a specific period or even for life, and that each quarter, semester or annuity (depending on the product) offers an additional interest to the guaranteed minimum. Unlike pension plans, it can never show a negative return at the time of redemption (except in the case of redemptions due to exceptional liquidity circumstances such as serious illness or unemployment, in the case of PPAs with affected investments).
The PPA has the same tax advantages as a pension plan, i.e. all contributions are tax deductible on your annual income tax return, with the following maximum limits, depending on the age of the contributor:
The new tax reform of 2015 limits contributions to 8,000 euros regardless of age, with a maximum of 30% of the sum of income from work and economic activities.
These limits may be increased because, regardless of the above reductions, if your spouse receives income of less than 8,000 euros per year, you may reduce the contributions made in favour of your spouse, with the maximum annual limit of 2,500 euros.
The PPA is illiquid, that means you cannot enjoy the savings except in the following cases: retirement (including early retirement), death, absolute disability, severe or great dependency, serious illness of the participant himself, his spouse, relatives up to the first degree or persons under guardianship or foster care, and finally, unemployment (including ERE), whether you are employed or self-employed. From 2015 onwards, the contribution can also be redeemed after 10 years.
Forms of rescue
When it comes to benefits, it offers the same possibilities as pension plans, i.e. to be paid in one go (in the form of capital), in the form of income, or in a mixed form (a combination of the two). And, according to the insurance company, payments without regular periodicity.
Individual Long-Term Savings Insurance (SIALP)
It is a long-term savings insurance, minimum 5 years, in which the policyholder, insured and beneficiary must always be the same person.
Contributions cannot exceed 5,000 euros per year and partial redemptions cannot be made. Contributions are not tax-deductible.
Las Aportaciones no pueden superar los 5.000€ anuales y no se pueden hacer rescates parciales. Las aportaciones no desgravan en el IRPF.
Forms of rescue
If it is redeemed before the age of 5, the income is taxed as Income from capital (RCM), according to the following scale:
- HUp to 6,000 euros at 19%.
- From 6,000.01 to 50,000 euros at 21%
- From 50,000.01 to 23%
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Formulario Hablemos | PBF seguros
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