Life insurance : can we transfer his contract with another insurer ?

The holder of a life insurance contract is the obligation to commit to making regular payments ? Can we transfer the contract from one company to another ? Browse through our question/answer to understand all of the intricacies of life insurance.

• is it possible to pay as much as one wants to on my contract ?

Yes . Just as you can hold as many contracts as you want. There is no limit to the amount of payment legal in life insurance. And there are few insurers to put contractual limits. You can pay up to several hundred million euros on one and the same contract.

This is an obvious advantage of life insurance compared to many other investments, such as the booklet, the booklet of sustainable development and solidarity (LDDS), the plan of housing savings (PEL) and the shares saving plan (PEA), which support a maximum amount of investment.

• is it Necessary to commit to making regular payments ?

No. The almost all life insurance contracts marketed are said to be payments and free withdrawals. In other words, you supply the groceries when good seems to you, even to make withdrawals or redemptions.

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However, all contracts provide for the establishment of scheduled payments, for example, you save each month the sum of 75 euros. This faculty is in no case a commitment over several years. You can stop the device, but also modify it, or resume it whenever you want, free of charge in almost all cases. Read the general conditions of the contract informs you precisely on the terms provided by the insurer.

• life insurance is it interesting after 70 years ?

Yes. Regarding withdrawals from the contract, the insured enjoys the same tax benefits that, prior to being in his seventies. For under article L. 132-10 of the Code of insurance. You give your agreement as a pledge, technically you "nantissez", from a bank to guarantee a personal loan. Usefulness of the device ? You avoid taking other safeguards.

• My contract can it serve as collateral ?

Yes. is a component of your wealth, life insurance can in particular ensure a loan transaction in real estate. It is provided for by article L. 132-10 of the Code of insurance. You give your agreement as a pledge, technically you "nantissez", from a bank to guarantee a personal loan.

Usefulness of the device ? You avoid taking other benefits paid, such as a mortgage or bond, so that the operation of collateral security against your life insurance, made by addendum, is often free of charge. Once the credit is repaid, the guarantee falls off and you find the hand on your contract.

Note that the pledge of a contract may also intervene in guarantee of the payment of a compensatory allowance to a former spouse or to give to the public Treasury guarantees within the framework of a tax litigation.

• is it possible to transfer his contract with another insurer ?

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No. life insurance is an investment that is non-transferable from one company to another. This is a major difference with other financial envelopes of the market. If you are disappointed by your contract and you decide to change to invest your capital elsewhere, you will need to terminate (via a total redemption) and open a new life insurance.

Note, however, the tax consequences, because on your new contract, you replace the counter tax to zero. Hence the importance of choosing the original contract. Hence also the interest to open multiple contracts, with different insurers, to turn the tax system.